Fidelity Bank Plc has reported a drop in profit for the 2025 financial year, with earnings falling to ₦242.44 billion, down from ₦278.11 billion in 2024, as a large derivative loss and rising costs pressured performance. In the bank's audited results released on Monday, May 11, Fidelity Bank stated that its performance was majorly affected …
In 2025, Nigerian banks sharply increased the volume of bad loans written off compared with 2024, particularly among Tier-1 lenders, according to an analysis by Pinnacle Daily. Shareholders have described the rising bad loans as evidence of a long-standing weakness in credit discipline within the banking sector, warning that it must be urgently addressed. Pinnacle's …
Transnational Corporation Plc (Transcorp Group) has declared a total dividend of ₦20,323,995,148, translating to ₦2.00 per share, for its shareholders at its 20th Annual General Meeting (AGM) held at the Transcorp Centre in Abuja. The dividend comprises an interim payment of ₦4,064,799,030, representing 40 kobo per share, which was paid in August 2025, and a …
Ecobank Transnational Incorporated (ETI) has announced plans to raise fresh funds from the international debt capital market through the issuance of Tier 2 qualifying Nature Notes. The bank disclosed this in a statement released on Thursday and signed by its Group Executive Director and Chief Financial Officer, Ayo Adepoju. According to the statement, the funds …
First HoldCo Plc reported a strong profit in the first quarter of 2026, even as it faced heavy pressure from foreign exchange losses, rising costs, and a large cash outflow. The group’s profit rose to ₦267.8 billion, but its operations were weighed down by a ₦1.98 trillion net cash outflow, weaker FX gains, and higher …
The National Pension Commission (PenCom) has said that only seven states and the Federal Capital Territory (FCT) are fully implementing pension reform laws, leaving millions of civil servants uncertain about their retirement future. The Director-General of PenCom, Omolola Oloworaran, reportedly disclosed this on Thursday in Abuja during a consultative session with heads of service from …
Access Holdings Plc has explained why it failed to pay dividends to shareholders for the 2025 financial year despite posting over ₦1 trillion in profit before tax for the first time in its history. In a statement issued on Thursday, the company said the non-payment of dividends was caused “solely by outstanding regulatory compliance requirements” …
The National Information Technology Development Agency (NITDA) has raised fresh concerns over a dangerous artificial intelligence-powered malware known as DeepLoad. It said the cyber threat is actively targeting Nigerian businesses, government agencies, financial institutions, and individuals. NITDA issued the alert through its Computer Emergency Readiness and Response Team, CERRT.NG, and shared the advisory on its …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against any retaliatory action by the Nigerian government over recent xenophobic attacks in South Africa, saying such moves would damage the Nigerian economy and weaken investor confidence. In a statement issued on Wednesday, May 6, Chief Executive Officer of CPPE, Dr Muda Yusuf, described …
Nigeria’s private sector has entered 2026 on a fragile path, with businesses facing rising risks around customers, technology, and talent despite signs of economic recovery. This is according to a new report by the Nigerian Economic Summit Group (NESG), released recently. The report, titled Nigeria Private Sector Outlook 2026: The Productivity Imperative for Nigerian Businesses, …
