The Nigerian stock market is currently heavily controlled by a small group of companies, with just 26 firms, including MTN Nigeria Communications and Dangote Cement, accounting for over 90 per cent of the total value of the Nigerian Exchange (NGX) market capitalisation. Pinnacle Daily analysis of market data from the NGX price list for April …
The Centre for the Promotion of Private Enterprise (CPPE) has welcomed President Bola Ahmed Tinubu’s approval of a 30 per cent discount on airlines’ outstanding debts but warned that the move falls short of addressing the deeper crisis in Nigeria’s aviation sector. In a statement issued on April 26, 2026, CPPE Chief Executive Officer, Dr …
The Central Bank of Nigeria (CBN) has introduced a new banking policy framework that raises the cost of ATM card issuance while cutting a wide range of other charges, in a move aimed at making financial services cheaper, clearer, and more accessible. It made this known in a circular signed by the Director of Financial …
The Central Bank of Nigeria (CBN) has introduced a new money market benchmark, known as the Nigerian Overnight Financing Rate (NOFR). The move, announced on April 17, 2026, by the CBN, in collaboration with the Financial Markets Dealers Association (FMDA), aims to improve transparency and strengthen confidence in the financial system. It is designed to …
The Nigerian government can unlock a $74 billion livestock industry if it abandons failed state-led models like Ajaokuta and adopts a private sector-driven “catalyst model", Chairman of the Alliance for Economic Research and Ethics, Dele Kelvin Oye, has said. Speaking at the 2026 Vanguard Newspaper Annual Economic Conference on Wednesday, Oye warned that Nigeria risks …
Seven Nigerian banks wrote off about ₦2.38 trillion in bad loans in 2025, as the Central Bank of Nigeria’s (CBN) stricter stance on forbearance and loan classification forced lenders to clean up long-standing credit risks. A review of banks' financial statements reveals that the write-offs, which cut across Zenith Bank, First HoldCo, GTCO, Stanbic IBTC, …
The Central Bank of Nigeria (CBN) has warned Nigerians to be on high alert due to a surge in fraudulent messages and cyberattack attempts aimed at deceiving the public and compromising personal information. The warning was contained in a statement issued on Tuesday and signed by Hakama Sidi-Ali, the Acting Director of Corporate Communications. According …
President Bola Tinubu has sacked the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as part of a sweeping cabinet reshuffle that also removed the Minister of Housing and Urban Development, Umar Dangiwa. The Secretary to the Government of the Federation, George Akume, announced the changes in a memo on Tuesday. According …
Nigeria had been ranked among Africa’s top 10 countries on digital rights, but has dropped five places, weakening its position, according to the 2025 Londa Report released at the Digital Rights and Inclusion Forum (DRIF26) in Abidjan, Côte d’Ivoire. The report places South Africa as the leading country on digital rights for the second consecutive …
Nigeria’s top business leaders are set for an unprecedented surge in dividend income as stronger corporate earnings and higher payout ratios lift returns to shareholders, with Aliko Dangote and Abdul Samad Rabiu dominating the rankings by a wide margin. A review of audited financial statements across major listed companies shows that Dangote and Rabiu alone …
