United Bank for Africa (UBA) and Guaranty Trust Holding Company (GTCO) recorded the weakest performances among Nigeria’s major banks in the first quarter of 2026, Pinnacle Daily reports. A review of the financial statements of seven banks for the period ended March 31, 2026, shows that foreign exchange (FX) losses and market-related shocks weighed on …
Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory requirements. The bank disclosed this in a corporate notice issued in Lagos on Tuesday, May 5, 2026. “The board expresses its deep appreciation to Jim Ovia for his outstanding service …
The Alliance for Economic Research and Ethics has challenged claims by Moniepoint that it has over 500 vacancies with no qualified Nigerians to fill them, describing the statement as misleading and not backed by evidence. In a statement on Monday reacting to comments by Moniepoint Chief Executive Officer (CEO) Tosin Eniolorunda, the group said the …
The Debt Management Office (DMO) has opened subscriptions for the May 2026 FGN Savings Bond on behalf of the Federal Government of Nigeria, offering returns of up to 14.525 per cent to retail investors seeking safe and steady income. The debt office announced this in a circular on Monday, May 4, stating that the offer …
Nigeria is losing as much as ₦7 trillion every year to insecurity, a burden that is weighing heavily on the economy, weakening growth, and pushing up prices, according to a recent publication by the Central Bank of Nigeria (CBN). The report, titled Bullion Vol. 50, No. 1 (January – March 2026), released recently by CBN, …
The Nigerian stock market delivered a powerful performance in April 2026, with investors adding nearly ₦27 trillion in value in just one month as strong corporate earnings and a global energy shock drove widespread buying across key sectors. At the heart of the rally was a sharp rise in market capitalisation, which climbed from ₦129.21 …
Presco and Okomu Oil Palm Company posted strong growth in the first quarter of 2026, but their performance shows a clear difference in how each company manages debt and runs its operations. A review of the Q1 financial results by Pinnacle Daily shows that Presco emerged stronger in efficiency and debt control. The company grew …
Access Holdings Plc crossed a major milestone in 2025, posting over ₦1 trillion in profit before tax, but the strong performance came with growing pressure from regulatory fines, legal disputes, and rising costs. A review of the group’s audited results shows gross earnings rose to ₦5.53 trillion, while profit after tax climbed to ₦743 billion. …
Nigeria’s external reserves posted a steady decline through April 2026, shedding close to $1 billion over the month. The development could heighten pressure on the foreign exchange market despite the country’s still robust reserve position, Pinnacle Daily can report. According to data from the Central Bank of Nigeria (CBN), gross external reserves fell consistently day …
Nigeria ranks lowest in the world for life expectancy, sitting at 217th out of 217 countries and territories, according to World Bank Open Data. The country’s life expectancy stands at 54.462 years, making it also the lowest among Africa’s 54 economies and underscoring a deep and persistent public health crisis. Global, African Rankings Paint Grim …
