News
Sterling Financial Posts 20% Profit Growth, Assets Approach N5tn in Half-Year Results
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2026/08/NGX-Logo-1000x600.png&description=Sterling Financial Posts 20% Profit Growth, Assets Approach N5tn in Half-Year Results', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2026/08/NGX-Logo-1000x600.png&description=Sterling Financial Posts 20% Profit Growth, Assets Approach N5tn in Half-Year Results', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
By Gloria Ikibah
Sterling Financial Holdings Company Plc has reported a strong financial performance for the first half of 2026, posting a 20.4 per cent increase in profit after tax as the Group’s total assets climbed close to the N5 trillion mark.
The unaudited results for the six months ended June 30, 2026, released on Thursday, showed broad-based growth across major financial indicators, driven by higher interest income, an expanding loan portfolio and sustained growth in customer deposits.
The Group recorded gross earnings of N279.6 billion, representing a 31.5 per cent increase over the corresponding period in 2025. Interest income rose by 33.7 per cent to N223.6 billion, while net interest income increased by 41 per cent to N137.4 billion.
Non-interest income also grew by 23.3 per cent to ₦56 billion, supported by stronger fee income and improved earnings from other operating activities.
Sterling Financial’s balance sheet also recorded significant growth during the period, with total assets rising by 19.3 per cent to N4.67 trillion, while customer deposits expanded by 21.1 per cent to N3.62 trillion, reflecting continued confidence in the Group’s banking operations.
Profit before tax increased by 21.9 per cent to N55.5 billion, while profit after tax rose by 20.4 per cent to N50.3 billion.
The Group also improved its profitability ratios, with return on average equity standing at 20.6 per cent, while return on average assets improved from 2.05 per cent to 2.35 per cent.
Shareholders’ funds grew by 27.8 per cent to N547.7 billion, largely driven by the successful N96.6 billion public offer through which the company raised capital from the issuance of 13.8 billion ordinary shares.
The company also disclosed that its share price had appreciated by more than 15 per cent since the beginning of the year, reflecting stronger investor confidence ahead of the release of its half-year results. Basic earnings per share stood at 77 kobo, reflecting the enlarged share capital following the public offer.
Sterling Financial attributed the performance to ongoing investments in technology and operational efficiency across its subsidiaries, including Sterling Bank, AltBank and SterlingFI.
According to the Group, the modernisation of its technology infrastructure and operating model has improved service delivery, enhanced operational efficiency and strengthened its capacity to support increasing customer activity while maintaining prudent risk management.
The company expressed confidence that its strengthened capital base, expanding deposit base and diversified earnings would position it for stronger growth in the second half of the year.
It noted that the additional capital would continue to support lending to productive sectors of the economy while enabling the Group to sustain long-term value creation for shareholders.
News
How fake agency secured SGF office, built nationwide network – ICPC
The alleged fake National Brands Development and Made-in-Nigeria Special Project Office claimed it had Federal Executive Council approval dating back to 2017, nine years before the Independent Corrupt Practices and Other Related Offences Commission uncovered it.
The office, which was domiciled in the Office of the Secretary to the Government of the Federation, also created a nationwide network of appointments covering geopolitical zones and states.
ICPC Chairman Dr Musa Aliyu said the commission uncovered the alleged fake office during its investigation into the fictitious Presidential Foreign Intervention Promotion Council and other weaknesses in the public service.
“Upon further briefing by ICPC to Mr President on the ongoing investigations into the fake PFIPC and procedural weaknesses in the public service, the ICPC has uncovered another fake agency and office operating under the name National Brands Development and Made-in-Nigeria Special Project Office, which has been illegally allocated office space within the premises of the Office of the Secretary to the Government of the Federation,” Aliyu said.
He identified the promoter as George Nwabueze, alleging that he operated under several variations of the name with the suspected collaboration of senior public servants in the OSGF.
“The promoter Nwabueze was discovered to also operate under four other variations of his name: George Nathan, George Nathan Nwabueze, Hon. George Buchi Nwabueze, Prince George Buchi Nwabueze and George Nwabueze,” Aliyu said.
A profile on the organisation’s website identified Nwabueze George as its “Executive Director, National Coordinator”, while the website presented the outfit as a federal agency responsible for promoting Nigerian brands and local manufacturing.
The website claimed that the Federal Executive Council had approved a “National Campaign to Sensitize Nigerians on the Patronage of Made-in-Nigeria Products” at a February 1, 2017, meeting at the Presidential Villa, Abuja, during the Muhammadu Buhari administration.
It also listed the Ministry of Industry, Trade and Investment as the implementing ministry and cited a purported “Bill for an Act to Establish the National Brands Development and Made-in-Nigeria Promotion Commission and for Related Matters”.
Beyond its claims of federal approval, the alleged agency had established a leadership structure spanning the geopolitical zones and several states.
At the national level, it listed Dr Bassey B. Unaowo as Special Assistant to the Permanent Secretary on Political and Economic Affairs in the OSGF, Dr Hajara Njidda Amoni as Director, National Administration, and Nwabueze as part of the leadership.
It also named zonal directors for the South-West, North and South-East, alongside state coordinators across the North-West, North-Central, North-East, South-South, South-East and South-West.
The state officials were designated “State Coordinator, National Brand Development and Made in Nigeria Project Office”, with profiles carrying an official-looking green and white insignia bearing the inscription “National Brands Development, The Presidency, Made in Nigeria.”
The outfit also maintained social media accounts under the handle “@pmainpro” on Instagram, Facebook, X and LinkedIn.
However, the ICPC said its findings showed that the office had no presidential authorisation and was operating contrary to extant laws.
The discovery followed the earlier investigation into the alleged fictitious Presidential Foreign Intervention Promotion Council, whose self-styled Director-General, Adeniyi Adeyemi Matthew, is facing prosecution for alleged forgery and impersonation.
Following the ICPC briefing, President Bola Tinubu ordered the immediate arrest of Nwabueze and suspended three Permanent Secretaries M.S. Danjuma, Engr Nadungu Gagare and Richard P. Pheelangwah pending investigations.
Aliyu said the commission had engaged officials of the OSGF to establish how the alleged fictitious office obtained accommodation within the Secretariat and would investigate the roles of the suspended officials and others connected with the network.
“I have briefed Mr President comprehensively on these new developments. ICPC will continue with its investigations accordingly,” Aliyu said.
News
Tinubu Renews Tenures Of NTA DG, NAN MD For Another Three Years
President Bola Ahmed Tinubu has renewed the tenures of the Director-General of the Nigerian Television Authority (NTA), Abdulhamid Salihu Dembos, and the Managing Director of the News Agency of Nigeria (NAN), Ali Mohammed Ali, for another three years.
This is contained in a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, on Sunday.
According to the statement, Tinubu first appointed Dembos and Ali to head the NTA and NAN, respectively, on October 20, 2023. Their second terms will commence on October 20, 2026.
Dembos, from Yola, Adamawa State, is a former National President of the Radio, Television, Theatre and Arts Workers Union (RATTAWU).
He previously served as Executive Director of Marketing at the NTA after his retirement from the organisation in 2017.
Dembos joined the NTA as an announcer at its Kaduna station after completing his National Youth Service in 1989. He subsequently rose through the ranks, serving at various times as General Manager of NTA Lokoja and NTA Kano.
He retired in 2017 as the Acting Zonal Director of the NTA Kaduna Network Centre.
Ali, on the other hand, is a veteran journalist and media manager with more than 30 years of experience.
He has a keen interest in media evolution and content development in the digital era, particularly in meeting the needs of diverse audiences through alternative news platforms.
Ali holds a first degree in English from Bayero University, Kano; a graduate degree in International Affairs from Ahmadu Bello University, Zaria; and a Postgraduate Diploma in Mass Communication from Bayero University, Kano.
President Tinubu urged the two chief executives to justify the confidence reposed in them by continuing to demonstrate commitment to the mandates of their respective organisations and the promotion of his administration’s Renewed Hope Agenda.
News
10 Nollywood Stars Who Lost Their Fight Against Cancer
The death of veteran Nollywood actor Taiwo Hassan, popularly known as Ogogo, has renewed attention on Nigerian film stars who lost their lives after battling different forms of cancer.
Hassan died on Sunday, August 23, 2026, at the age of 66. His daughter, Kira Taiwo, confirmed his death during an emotional live video.
Days before his death, Kira and her sister, Haleemah, disclosed that their father had been diagnosed with stage four cancer. They appealed for medical assistance after doctors reportedly said his condition had become difficult to treat.
Here are other Nollywood actors whose deaths were linked to cancer.
1. Taiwo Hassan ‘Ogogo’

Taiwo Hassan built a career that spanned more than four decades, with memorable appearances in Yoruba and English language productions.
The actor, producer and director was known for films including Owo Blow, Omo Ghetto and Aníkúlápó.
His death came days after his daughters publicly revealed his battle with stage four cancer. The particular type of cancer was not disclosed.
2. Alexx Ekubo

Alexx Ekubo died on May 11, 2026, at the age of 40.
His family said the actor died at Evercare Hospital from complications arising from advanced metastatic kidney cancer.
Ekubo was known for films including Weekend Getaway, Lagos Cougars, The Bling Lagosians, Omo Ghetto: The Saga and A Sunday Affair.
His illness was largely kept away from the public until his death.
3. Tom Njemanze

Veteran actor Tom Njemanze died in July 2025 at the age of 75 after battling prostate cancer.
Before his death, videos showed him receiving treatment in a hospital as colleagues appealed to the public for financial assistance.
Njemanze became popular through his performances in films including Issakaba, Osuofia in London, Pounds and Dollars, Brain Box and Twin Brothers.
4. Stella Ikwuegbu

Veteran actress Stella Ikwuegbu died on June 16, 2024, after battling what her colleagues described as leg cancer.
Movie producer Stanley Nwoko announced her death and paid tribute to her contribution to the Nigerian film industry.
Ikwuegbu was known for playing motherly and elderly characters in numerous Nollywood productions.
5. Ethel Ekpe

Ethel Ekpe died in February 2024 after battling cancer. The specific type of cancer was not publicly disclosed.
She became popular for playing Segi in Ken Saro-Wiwa’s television comedy series, Basi and Company.
The actress also featured in Amaka Igwe’s Forever, Sons of the Caliphate, Speak the Word and several other productions.
6. Karibi Fubara

Nollywood actor and producer Karibi Fubara died on December 15, 2021, following a battle with kidney cancer.
Fubara disclosed in 2020 that doctors had discovered a large, mid-stage kidney tumour. He later underwent surgery to remove about 90 per cent of it.
His death was announced by members of his family about 19 months after the surgery.
Fubara featured in productions including God Calling, Smart Money Woman, Castle and Castle and Quam’s Money.
7.Sadiq Daba

Veteran actor and broadcaster Sadiq Daba died on March 3, 2021, after battling leukaemia and prostate cancer.
Daba received treatment in Nigeria and abroad following financial support from well-wishers.
He became widely known for his role in the television series Cockcrow at Dawn. He also played Inspector Waziri in Kunle Afolayan’s October 1, a performance that earned him the Africa Movie Academy Award for Best Actor.
8. Doris Chima

Veteran actress Doris Chima died in August 2021 after battling breast cancer for more than six years.
The Chairman of the Actors Guild of Nigeria in Lagos State, Emeka Rising Ibe, confirmed her death.
Chima appeared in several Nollywood productions before her illness kept her away from the screen.
9. Ify Onwuemene

Ifeyinwa Onwuemene, popularly known as Ify Onwuemene, died on May 25, 2021, after battling stage four endometrial cancer.
Her colleague, Gloria Anozie-Young, said the actress underwent surgery and several chemotherapy sessions during her treatment.
Onwuemene became popular for playing the wife of Sam Loco Efe’s character in the television series Everyday People.
10. Aisha Abimbola

Yoruba actress Aisha Abimbola, popularly known as Omoge Campus, died in a Canadian hospital in May 2018 after battling breast cancer.
She rose to fame through her appearance in the film Omoge Campus in 2001.
Abimbola also featured in No Pain, No Gain, Awerijaye, So Wrong So Right and Kamson and Neighbours.
The deaths of these actors highlight the impact cancer has had on the Nigerian film industry.
Some fought the disease publicly and received support from colleagues and fans. Others kept their diagnoses private until their deaths.
Credit: guardian.ng
-
News18 hours ago101-year-old great grandma nabbed as NDLEA intercepts cocaine in fufu (Photos)
-
News17 hours agoUnleashing unusual loyalty: Edo APC chairman, Tenebe, reportedly threatens to ‘kpai’ critics over FB post on Gov Okpebholo
-
Sports18 hours agoFIFA releases 2027 Women’s World Cup playoff fixtures-See List
-
News23 hours agoPopular gospel singer, Asu Ekiye finally opens up on his failed 28-year-old marriage
-
News18 hours ago2027: Akwa Ibom APC/PDP, Others, Collapse Structures For Tinubu, Akpabio and Eno
-
News18 hours agoCCTV Captures Armed Robbery Suspects at Benin City Hair Shop, Luxury Wigs Worth Millions Stolen
-
News15 hours agoBALLOT BOX NIGERIA TV REALITY SHOW: Nigeria’s Biggest Democratic Reality Television
-
News12 hours agoIranian hackers ‘shut down British power plant for four days’
