VFD Group Plc announced the successful completion of its ₦50.6 billion Rights Issue on Friday, March 6, 2026. The issue was fully subscribed by its shareholders and investors, signaling a strong vote of confidence in the company's long-term vision and its 'Governance as a Strategy' (GaaS) model.

This capital raise positions VFD Group to enter its next phase of growth, aiming to build a world-class investment company from Africa. The additional capital will be utilized to further strengthen its balance sheet, enhance profitability and investment capacity, accelerate pan-African expansion through strategic combinations and partnerships, and scale its ecosystem to enable greater third-party participation.

In other financial sector news, Okechukwu Eke, General Counsel of Moniepoint, has been named to the GC Powerlist: Nigeria 2026 by Legal 500. This marks his second appearance on the list, recognizing his influence in driving significant change within Nigeria's leading companies and navigating complex regulatory environments.

FCMB Group Plc has also met the N500 billion recapitalisation requirement for its banking subsidiary, First City Monument Bank Limited, and has secured its international banking licence. The group raised over N400 billion through public equity offerings, a convertible instrument, and a minority divestment. This recapitalisation strengthens the bank's capital base and positions the group for further expansion.

Meanwhile, the Housing Development Advocacy Network (HDAN) has raised concerns over the rising level of loan defaults by customers of mortgage banks, particularly in construction loans. HDAN urged the Federal Government to establish a Mortgage Guarantee Company to mitigate risks and encourage lending in the housing finance sector.

Ecobank Group reported a significant 194 per cent increase in lending to registered women-led businesses in 2025, extending $780 million in loans compared to $265 million in 2024. This growth is attributed to its gender-focused initiatives like the Ellevate programme, which aims to close the $42 billion financing gap faced by women entrepreneurs in Africa.

Additionally, the Nigeria Export Promotion Council (NEPC) in partnership with the International Trade Centre (ITC) is set to empower 146 women-led businesses with grants ranging from $5,000 to $30,000. This initiative is part of broader efforts to strengthen women's participation in Nigeria's non-oil export sector.

In a notable appointment, Lamido Abubakar Yuguda, former Director-General of the Securities and Exchange Commission (SEC), has been nominated by President Bola Ahmed Tinubu as Deputy Governor of the Central Bank of Nigeria (CBN), pending Senate confirmation. Yuguda brings extensive experience in central banking and capital market regulation to the role.

Wema Bank's Head of Brands & Marketing Communications, Mabel Adeteye, has been appointed as a jury member for the 2026 SABRE Awards Africa, highlighting the growing influence of African communications professionals on the global stage.