British Prime Minister Keir Starmer has announced his resignation as leader of the Labour Party, saying he accepts the decision of his parliamentary party and will step aside while remaining in office until a successor is chosen. In his resignation speech on Monday, Starmer reflected on his political journey, describing his time in office as …
The Nigerian Communications Commission (NCC) has directed telecommunications companies to obtain its approval before any transfer of shares amounting to 10 per cent or more of their ownership structure. The agency gave the directive in a joint statement issued on Sunday by the commission and the Corporate Affairs Commission (CAC). It said the new requirement …
As policymakers and international institutions raise concerns over the growing use of stablecoins in Nigeria and other emerging markets, the debate has largely centred on risks to monetary sovereignty and financial stability. In this exclusive interview with FRIDAY EHIME ALEX, the CEO and Co-Founder of WeFi, Maksym Sakharov, argues that the rapid adoption of dollar-backed …
Investors on the Nigerian Exchange lost about ₦5.64 trillion in one week as a sharp sell-off in banking and insurance stocks dragged the market lower. The NGX All-Share Index fell by 3.59 per cent to close at 235,941.27 points for the week ended June 19, 2026, while market capitalisation dropped by the same margin to …
Nigerian financial holding companies may need to raise billions of naira under the proposed new Central Bank of Nigeria (CBN) rules. A report released by Comercio Partners on Friday, June 19, shows that Access Holdings, GTCO and First Holdco face the largest capital shortfalls. The investment research firm stated that the CBN's June 10, 2026, …
The Federal Government has issued guidelines for the transition from repealed tax laws to the new Tax Acts 2025. The Federal Ministry of Finance made this known in a statement on Thursday. It said the guidelines provide direction to taxpayers, tax practitioners, revenue agencies and other stakeholders on implementing the new tax framework. It also …
The Federation Account Allocation Committee (FAAC) has distributed N2.3 trillion as May 2026 revenue allocation to the Federal, state, and local government councils. This was supported by a sharp rise in statutory revenue despite a decline in value-added tax (VAT) collections. The allocation was announced after the June 2026 FAAC meeting in Abuja, according to …
The International Press Centre (IPC) and the Centre for Media and Society have partnered with the Ekiti State Police Command to protect journalists covering Saturday’s governorship election in the state. The groups also urged journalists deployed for the election to remain professional, non-partisan and safety-conscious while carrying out their duties across the 16 local government …
FirstHoldCo Plc said it has completed a ₦45 billion private placement to strengthen FirstBank’s capital base and support its growth plans. It announced this in a statement seen by Pinnacle Daily on Thursday. According to the parent company of First Bank of Nigeria Limited (FirstBank), it had secured all approvals from the Central Bank of …
The federal government has dismissed reports that it plans to introduce new taxes on telecommunications services and petroleum products. It dismissed the claim in a statement on Tuesday by Maryann Duke, Senior Special Assistant on Communications and Press Affairs to the Minister of Finance and Coordinating Minister of the Economy, describing it as inaccurate and …
