9JA Finance Teas and Trends
What's poppin' in Finance
CBN Cracks Down on Forbearance-Benefiting Banks
Last Friday, the Central Bank of Nigeria (CBN) ordered all banks benefiting from forbearance on credit exposures or breaches of the Single Obligor Limits to:
Suspend dividend payments
Defer executive bonuses
Halt new investments in foreign subsidiaries or offshore ventures
In response, several affected banks have issued assurances that these matters will be resolved by the end of H1 2025. PS:(I explained in Monday’s newsletter)
As of close of business (COB) yesterday, the FUGAZ banking group saw a strong rebound, with all stocks closing in the green:
FIRSTHOLDCO: +5.71%
ACCESSCORP: +4.06%
ZENITHBANK: +2.99%
UBA: +2.94%
GTCO: +0.95%
💰 Nigeria Launches “REV-OP” to Optimize Revenue
The Federal Government has introduced REV‑OP, the Revenue Optimization and Assurance Project, a technology-driven public finance reform. According to the Ministry of Finance, REV-OP aims to:
Enable real-time monitoring
Promote data-driven decision-making
Improve transparency and accountability across revenue-generating agencies
Sounds like something that can erase corruption, but jokes on me and you for believing that will happen. As reported by Nairametrics, “REV‑OP is expected to significantly enhance government revenue collection, reinforce accountability in public finance, and lay the groundwork for a prosperous future.”
🚀 Hizo Raises $100,000 in Friends & Family Round
I need you to ask yourself “who are my friends and family”? And can they raise capital for me? Because some people just raised 100k dolls for the business from just friends and family. Nigerian fintech startup Hizo has successfully completed a $100,000 Friends & Family seed funding round as of June 4, 2025, Nigerian fintech startup Hizo has raised $100,000 in a successful Friends & Family seed funding round, announced on June 4, 2025.
⚠️ SEC Warns Against Zugacoin & Samzuga GPT
My dear crypto people, SEC has something to say to you, The Securities and Exchange Commission (SEC) has issued a stern warning to Nigerian investors regarding two unlicensed crypto products:
Zugacoin
Samzuga GPT
These products are not approved to operate within Nigeria's financial market. Investors are advised to exercise caution and avoid engaging with unregulated financial schemes.
No International finance news today, please pray for the nations of the world, people in Benue and Enugu too.
We’re just two days away from class, and a few people have asked me, “Why is this class even free?” And honestly, I’ve thought about it too that why shouldn’t it be free. But you know, if people think it should be paid for, then you already know you’re getting serious value for free!
Don’t miss out join us this Sunday and let’s learn together. It’s going to be worth your time!