Access Holdings, Oando and Conoil ranked among the worst-performing equities on the Nigerian Exchange Limited (NGX) during the 2025 trading year, as several stocks recorded steep declines in market value. Other equities that completed the bottom ten list include VFD Group, Sunu Assurances, Africa Prudential, Lasaco Assurance, Haldane McCall, Industrial and Medical Gases Nigeria, and …
KPMG has flagged key concerns over the Nigeria Tax Act (NTA) and the Nigeria Tax Administration Act (NTAA), warning that several provisions could create legal uncertainty. The firm outlined the errors and gaps in a recent report titled ‘Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions.’ Pinnacle Daily reports that the implementation of …
President Bola Tinubu has commended corporate Nigeria, market operators and investors for pushing the Nigerian Exchange (NGX) past the ₦100 trillion market capitalisation milestone. The President described the achievement as a source of inspiration for participants in the money and capital markets. He made the remarks in a statement issued on Thursday by his Special …
Nigeria’s non-oil exports rose by 21 per cent to $12.8 billion in the first half of 2025, data from the Federal Ministry of Industry, Trade and Investment showed. The figures were contained in the ministry’s 2025 activity review and outlook for 2026, which assessed Nigeria’s economic repositioning under President Bola Tinubu’s administration. The ministry said …
The Budget Office of the Federation (BOF) has dismissed public criticism of the repeal and re-enactment of the 2024 and 2025 Appropriation Acts. In a statement on Wednesday, BOF Director-General Tanimu Yakubu said the actions did not constitute a constitutional breach, fiscal illegality, or a denial of access to budget documents. Yakubu emphasised that while …
The Securities and Exchange Commission (SEC) has declared the operations of Voya Investment Management (VIM) fraudulent, warning that the platform is designed to deceive unsuspecting investors. In a statement issued on Wednesday, the Commission said it neither licensed nor approved the operations of Voya Investment Management. The SEC noted that the online investment platform operates …
A Lagos State Rapid Transit Bus (BRT) was gutted by fire on the Third Mainland Bridge on Tuesday afternoon, disrupting traffic around the Adekunle axis inward Iyana Oworo. The incident was confirmed by the Lagos State Traffic Management Authority (LASTMA) in a post on its official X account. “A high-capacity bus is on fire on …
First Bank of Nigeria (FirstBank) has successfully met the ₦500 billion minimum capital requirement following the completion of a series of strategic capital-raising initiatives. The First HoldCo Plc, the parent company, disclosed this in a statement issued on Monday and signed by its Group Company Secretary, Abiola Baruwa. It stated that meeting the Central Bank …
Fidelity Bank Plc said it has met the ₦500 billion capital requirement for an internationally licensed bank and is now awaiting approval from the Central Bank of Nigeria (CBN). The bank made this known in a statement on Tuesday, January 6, signed by its Company Secretary, Ezinwa Unuigboje. It hinted that following approvals from the …
The Nigerian stock market extended its bullish run on Monday, pushing total market capitalisation above the ₦100 trillion threshold. Market value rose by ₦1.87 trillion to ₦101.52 trillion, buoyed largely by the additional listing of 2.575 billion shares of First Bank on the Nigerian Exchange Limited (NGX). The All-Share Index (ASI) advanced 1.74 per cent …
