Presco Plc has won its appeal against a Federal High Court ruling that placed interlocutory restrictions on its 2025 Annual General Meeting (AGM), rights issue, and the recognition of its corporate actions by regulators. The Court of Appeal, Benin Judicial Division, on August 21, 2026, allowed Presco’s appeal in its entirety and set aside the …
The African Export-Import Bank (Afreximbank) and its subsidiaries increased net income by 30 per cent to $534.7 million in the first half of 2026, as stronger lending and higher interest income drove a robust financial performance. Net income rose from $412.7 million recorded in the corresponding period of 2025, while net interest income increased by …
First HoldCo Plc, FCMB Group Plc and Sterling Financial appear to be taking a more cautious approach to deploying fresh capital after Nigeria’s bank recapitalisation, with equity growth outpacing loan expansion in the first half of 2026, while Wema Bank moved more aggressively into lending. The divergence among the four banks raises an early question …
The Centre for the Promotion of Private Enterprise (CPPE) and the Alliance for Economic Research and Ethics have broadly acknowledged the gains recorded by the Federal Government under its economic reform programme, but both groups said the scorecard presented by Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, should not be judged only …
The Nigerian Exchange (NGX) closed the trading week ended Friday, August 21, 2026, on a bearish note, as renewed selling pressure across major sectors pushed the benchmark index and market capitalisation lower. The NGX All-Share Index (ASI) fell by 1.35 per cent to 239,351.16 points from 242,619.20 points in the previous week, while market capitalisation …
The proposed return of Nigeria’s petrol subsidy regime could recreate the economic distortions that the policy was meant to eliminate, Dr Kazeem Bello, a global financial analyst and principal manager/CEO of Afrique Capital and Equity Funds Limited, has warned. He shared his thoughts with Pinnacle Daily in response to a pledge by the African Democratic …
The Federal Government’s three-year reform scorecard shows that more than half of the ₦20.4 trillion in incremental resources available to the government between June 2023 and December 2025 came from borrowing, raising questions about how much of the fiscal improvement was driven by reforms and how much depended on additional debt. The disclosure is one …
The Nigerian Bar Association (NBA) has invited Dele Oye, principal partner of Dele Oye & Associates, to moderate a session on corporate governance and foreign investment at its 66th Annual General Conference. The conference, themed “Beyond Limits,” is scheduled to hold from August 21 to 28, 2026, at the Yakubu Gowon Stadium, Elekehia, Port Harcourt, …
The Central Bank of Nigeria’s (CBN) latest changes to Open Market Operations (OMO) and repurchase transactions may be doing more than simply improving access to the fixed-income market. The review could give the apex bank a more flexible liquidity-management toolkit ahead of a period when global economic risks and Nigeria’s 2027 election cycle could put …
Former Education and Solid Minerals Minister, Obiageli “Oby” Ezekwesili, has called on President Bola Tinubu to terminate Nigeria’s £746 million ports financing deal with the United Kingdom, raising concerns over the lack of transparency surrounding the agreement. Ezekwesili said 152 days after Tinubu signed the agreement during his official visit to London, the Nigerian and …
