The federal government, states, and local government councils have shared a total of ₦1.969 trillion as revenue from the December 2025 Federation Account. The sharing was done at the January 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja, according to a statement on Monday by the Director of Press and Public Relations in …
The National Pension Commission (PenCom) has launched a self-service online data recapture application known as the Data Recapture Self-Service Platform (PENCAP). It unveiled the platform on Sunday, February 1, according to a statement from the Commission. The platform will enable Retirement Savings Account (RSA) holders to remotely update their personal records (recapture) without necessarily visiting …
Oando Plc posted a significantly higher income tax credit of ₦226.1 billion in 2025 from ₦163.7 billion the previous year, amid concerns over the company's weaker operations and financial position. A review of its 2025 audited financial statement released on Sunday, February 1, shows that the tax credit boosted Oando’s profit for the year, despite …
The Chairman of First HoldCo Plc, Femi Otedola, has explained the reason behind the group’s sharp decline of over 90 per cent in its 2025 financial performance. Otedola gave the explanation via his X handle on Saturday, January 31. He hinted that the drop was the result of a deliberate decision to fully recognise legacy …
First HoldCo Plc recorded a sharp decline in profit in 2025, as higher impairment charges and its exit from merchant banking significantly impacted its financial performance. A review of the Group’s unaudited financial statements for the year ended December 31, 2025, shows that profit fell by 93.36% to ₦44.98 billion, compared with ₦677.01 billion recorded …
Wema Bank Plc's non-performing loans (NPLs) dropped to ₦48.20 billion in 2025 from ₦64.99 billion a year earlier. The bank disclosed this in its unaudited financial statements for the year ended December 31, 2025. An analysis of the bank’s loan book shows that its credit-impaired loans, classified as Stage 3 under IFRS 9, fell to …
Chairman of the Nigeria–Türkiye Business Council (NTBC), Dele Kelvin Oye, has urged Turkish investors to leverage Nigeria’s $255 billion market size to expand their industrial and business footprint. He also urged the investors to take advantage of Nigeria's ongoing economic reforms and strategic access to the African Continental Free Trade Area (AfCFTA). He made the …
FCMB Group Plc posted a net foreign exchange loss of ₦14.06 billion in 2025, reversing a ₦36.47 billion gain recorded a year earlier. The lender disclosed this in its unaudited financial statements for the year ended December 31, 2025, released on Thursday. Pinnacle Daily analysis of the results shows that the reversal was largely driven …
The Nigerian Exchange Limited (NGX) has granted 24 months for Multi-Trex Integrated Foods Plc to comply with the free float requirement. Multi-Trex disclosed this in a statement on Thursday signed by its Secretary, Sogunle Adebisi Adekunle. It said the approval followed its application to the NGX for additional time to meet the prescribed free float …
Kaduna, Edo, Katsina, Sokoto and Lagos emerged as the five Nigerian states with the sharpest rise in public debt over the past decade, according to a review of BudgIT’s latest ‘State of States’ report. An analysis by Pinnacle Daily shows that the debt profiles of these states expanded rapidly between 2015 and 2024, reflecting widening …
