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, …
United Bank for Africa (UBA), Redtech and MoMo PSB have partnered to expand how Nigerians make and receive payments, allowing more customers to pay without using cash or cards. UBA said this in a statement on Tuesday, May 5, explaining that under the new arrangement, MoMo PSB customers can now pay directly from their mobile …
Rising debt and repeated political standoffs have ended the United States’ long-standing run at a perfect triple-A credit rating, according to DataPro in its Monthly Rating Brief for May. The Nigerian technology-driven Credit Rating Agency noted that for years, the US was widely seen as the safest borrower in the world, with its ability to …
Dangote Cement, BUA Cement and Lafarge Africa recorded strong profit growth of up to 117 per cent in the first quarter of 2026, as rising revenue and improved efficiency lifted their earnings compared to the same period in 2025. A review of the financial statements of cement giants for the period ended March 31, 2026, …
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, …
