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Sterling HoldCo Builds on Upward Earnings Trajectory with 127% Profit Growth…

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…Reinforces Investor Confidence on Sustained Performance

 

Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) has announced its unaudited financial results for the nine-month-period ended September 30, 2025, posting an impressive 127% year-on-year growth in profit after tax (PAT) to ₦62.3 billion.

 

The performance is testament to the Group’s robust earnings capacity, operational efficiency, and disciplined execution.

 

The Group’s gross earnings rose by 44.1% to ₦341.7 billion (September 2024: ₦237.2 billion), driven by solid performances in both interest and non-interest income lines. Interest income grew by 38.7% to ₦262.4 billion, supported by an expanded earning asset base, while non-interest income surged by 65.1% to ₦79.2 billion, reflecting the Group’s continued success in diversifying its revenue streams.

 

Sterling HoldCo maintained a healthy balance sheet, with total assets rising by 15.5% from ₦3.54 trillion in December 2024 to ₦4.09 trillion in September 2025, driven by growth in loans, investment securities, and liquid assets. Customer deposits also grew by 14.3% to ₦2.88 trillion, while shareholders’ funds increased by 32.9% to ₦405.5 billion, up from ₦305.2 billion in December 2024, highlighting the Group’s solid capital base and its capacity to sustain future expansion.

 

Commenting on the results, Yemi Odubiyi, Group Chief Executive, Sterling Financial Holdings Company Plc, said: “Our performance over the first nine months of 2025 demonstrates the strength and adaptability of our Group structure. The significant growth in profit after tax underscores the success of our strategy to operate as a diversified financial services Group delivering value through both our conventional, non-interest banking, and asset management subsidiaries.

 

Our results highlight disciplined risk management, innovative product delivery, and an unrelenting focus on sectors that drive real economic impact. We are equally grateful to our shareholders and the investing public for their confidence in the Group, as reflected in the resounding success of our recently concluded public offer of 12.58 billion ordinary shares.

 

As we continue to invest in technology and operational excellence, our goal remains clear: to build a resilient institution that consistently delivers sustainable returns.”

 

With deepening synergies across its subsidiaries, Sterling HoldCo remains firmly on course to sustain its growth momentum through the final quarter of the year. The Group is strategically positioned to scale its presence across Nigeria’s high impact sectors, advance financial inclusion, and power innovation that drives real-sector growth. Guided by its heritage of trust and a commitment to excellence, Sterling HoldCo continues to champion sustainable finance and technology-driven solutions shaping the future of African financial services.

 

 

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How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.

 

Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.

 

The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.

 

Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.

 

In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.

 

Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.

 

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Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly

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The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.

 

The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.

 

This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.

 

According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).

 

The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.

 

“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.

 

The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.

 

Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.

 

The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.

 

“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.

 

The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”

 

It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.

 

JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.

 

 

 

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Your Second Coming Was A Chance To Avoid These Political Mistakes – Fayose To Fubara

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Former Governor of Ekiti State, Ayodele Fayose, says the second coming to office of the Rivers State Governor, Siminalayi Fubara, after the elapsing of the state of emergency should have made him better.

 

Fayose’s remarks come as the Rivers State House of Assembly has initiated impeachment proceedings against Fubara as of January 8, 2026.

Speaking in an interview on ‘Politics Today’, a programme on Channels Television on Friday, Fayose said he was removed as governor and went to exile but became a better person upon his return.

Fayose said that President Bola Tinubu hates ingratitude just like any other person else does.

The former Ekiti governor also dismissed the claim that what is happening in Rivers state is politics taken too far.

According to him, the constitution provides rules of engagement for every politician, stressing that it is when one gets out of the rule that he begins to look for public sympathy.

“The coming back of Governor Fubara should have made him a better person .If you made a mistake the first time, the second time you are not supposed to go through that route.

“Politics is a power game. Nobody solves political game for you. With due respect, let me tell you. Fubara is the one enjoying the office of the governor of Rivers state. It’s not the FCT Minister, Nyesom Wike.

“Some people are saying it’s about Tinubu’s election. No! Because Tinubu’s election will come first, don’t forget that. Both Wike and Fubara will all work for Tinubu. Two weeks after, there will be an election for Rivers state,” he said.

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