*Unveils Trust Lab, governance framework

By Babajide Komolafe

The rapid growth in digital finance is outpacing public confidence in the financial ecosystem, prompting the Bridgforte Centre for Global Impact to launch a new governance framework and the Trust Lab to strengthen trust in platform-led finance.

The Centre disclosed this yesterday at the unveiling of its flagship policy report, Trust Architecture in Platform-Led Finance, launched during a global online dialogue attended by over 400 central bankers, regulators, financial institutions, fintech leaders, consumer advocates, researchers and development partners.

Speaking at the event, Founder of Bridgforte and former Deputy Governor of the Central Bank of Nigeria, CBN, Mrs. Aishah Ahmad, said the next phase of financial inclusion would depend not only on expanding access to digital financial services but also on deliberately building confidence across the ecosystem.

According to her, “Customers do not experience individual institutions. They experience the financial system as a whole, and in increasingly interconnected financial systems, trust is built or broken in the handoffs between institutions. Trust is not a communications exercise. It is a governance outcome, and it must be deliberately designed.”

The report showed that financial sector leaders who participated in Bridgforte’s Executive Table in Lagos in February rated the resilience of trust in Nigeria’s platform-led financial ecosystem at 5.4 out of 10, while participants at this week’s global launch independently scored it 5.7 out of 10, underscoring a broad consensus that digital finance has expanded faster than public confidence.

Delivering the keynote address, Deputy Governor of the South African Reserve Bank, Nomfundo Tshazibana, described trust and confidence as “economic infrastructure,” stressing that resilient financial systems are built through “credible institutions, sound governance, effective collaboration and continually earned public confidence.”

To address the confidence gap, Bridgforte introduced a Trust Architecture Framework built on five pillars—Infrastructure Integrity, Institutional Accountability, Technology Governance, Ecosystem Coordination and Cultural Confidence.

Ahmad also announced the establishment of the Trust Lab, describing it as a long-term platform for research, dialogue and measurement that will help policymakers and industry leaders strengthen confidence in increasingly interconnected digital financial systems.

•Records 18% drop in currency printing

By Elizabeth Adegbesan

The Central Bank of Nigeria, CBN, recorded N136 billion surplus in 2025, representing a 251 percent increase compared to N38.83 billion in 2024.

This significant improvement was due to improved investment income, gains from foreign exchange transactions, and effective cost containment.

The apex bank also grew assets Year-on-Year, YoY, by 18.07 percent to N138.86 billion in 2025 from N117.6 billion in 2024.

This was contained in the apex bank’s 2025 Annual report and statement of account released yesterday.

The report showed CBN decline an 18 percent shortfall in currency production in the review period.

According to the apex bank, as at 31st December 2025, the Nigerian Security Printing and Minting (NSPM) Plc and foreign printers delivered 3,445 million pieces of bank notes across various denominations, down from 4,206 million pieces allocated by the Bank in 2025. The shortfall was recorded on the part of NSPM Plc, which delivered 1,239.24 million pieces (62 percent) with a face value of N368.83 billion, leaving 760.76 million pieces (38 percent) outstanding.

CBN said: “The Bank approved a currency indent of 5,706.8 million pieces across the various denominations for 2025.  This represented an increase of 20.5 percent, from the 4,737.5 million pieces, approved in 2024. Of this amount, the NSPM Plc was allocated 2.0 billion pieces (35.0%), while foreign High Security Printers (HSPs) were allocated the balance of 65 per cent.

“As of 31st December 2025, the NSPM Plc delivered 1,239.24 million pieces (62 percent) with a face value of N368.83 billion, leaving 760.76 million pieces (38.0 percent) outstanding.

‘‘Foreign printers completed the delivery of 2,206 million pieces across the N1,000, N500, and N200 denominations. The delivery of the supplementary 1,500 million pieces awarded in November 2025 remained in progress as at year-end.”

By Peter Egwuatu

The Nigerian Exchange, NGX Group Plc, has announced an interim dividend of N1.30 per ordinary share for the six months ended 30 June 2026, following a record first-half financial performance.

According to a statement made available to Vanguard, the NGX Group recorded revenue of N17.60 billion in the first half of 2026, up 118% from N8.08 billion in the corresponding period of 2025, while total income grew 96% to N19.34 billion.

The performance was driven principally by increased market activity, with transaction fees rising by 169% to N13.34 billion from N4.96 billion. Listing fees increased by 59% to N2.38 billion, while technology income rose by 19% to N447.86 million.

Operating profit increased by 155% to N10.62 billion, compared with N4.16 billion in the corresponding period. This reflected strong operating leverage, as growth in income significantly outpaced the increase in operating expenses.

The Group also recorded a 130% increase in its share of profit from equity-accounted investees to N4.14 billion, driven primarily by the strong performance of Central Securities Clearing System Plc.

Consequently, profit before tax increased by 170% to N14.76 billion, from N5.46 billion in H1 2025, while profit after tax rose by 146% to N10.36 billion, compared with N4.22 billion in the prior-year period.

Commenting on the results and dividend, the Group Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, said: “The Board’s approval of an interim dividend of N1.30 per share reflects the strength of NGX Group’s first-half performance and our confidence in the Group’s long-term prospects. We are encouraged by the significant growth recorded across the business and by the increasing contribution of companies within the Group’s investment portfolio. The Board remains committed to balancing attractive returns to shareholders with continued investment in the infrastructure, technology and strategic initiatives required to deepen Nigeria’s capital market and position NGX Group for sustainable growth.”

Also commenting on the performance, the Group Managing Director and Chief Executive Officer of NGX Group, Mr. Temi Popoola, said: “Our first-half results demonstrate the strength and scalability of NGX Group’s business model. Revenue growth was supported by significantly higher transaction activity, increased listing income and stronger contributions from our investee companies, while disciplined execution enabled us to translate this growth into substantially improved profitability.”