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 …
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it has entered into a strategic partnership with the Nigerian Bar Association Anti-Corruption Committee (NBA-ACC) to strengthen Nigeria’s anti-corruption framework. The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) at the ICPC Headquarters in Abuja. This was disclosed in a …
DataPro, a leading Data Protection Compliance Organisation (DPCO) in Nigeria, has projected that 2026 will be a defining year in the country’s data protection evolution. The organisation made this projection in a statement issued on Wednesday to announce its upcoming week-long programme themed ‘Privacy in the Age of Emerging Technologies: Trust, Ethics, and Innovation’. According …
The Central Bank of Nigeria (CBN) has approved the temporary use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for import documentation. In a circular issued on Tuesday and signed by the Director of the Trade and Exchange Department, Aliyu Ashiru, the apex bank asked authorised dealer banks to continue …
President Bola Tinubu and Vice President Kashim Shettima are to spend a combined ₦8.74 billion on local and international travels in 2026, according to provisions in the appropriation bill. His frequent overseas trips have drawn growing criticism, with opponents arguing that he has not devoted similar attention to domestic travels, except for visits linked to …
The Central Bank of Nigeria (CBN) has upgraded the operating licenses of several leading fintech companies and microfinance banks to national status, allowing them to operate fully across the country. The upgrade covers Moniepoint Microfinance Bank, Opay, Kuda Bank, Palmpay, and Paga, among others. These fintech firms have expanded rapidly through mobile platforms and extensive …
Cadbury Nigeria Plc returned to profit in 2025, buoyed by strong beverage sales and debt forgiveness from its parent company, Mondelez International. A review of the company’s financial statements released on Tuesday, January 27, shows that Cadbury Nigeria reported a profit after tax of ₦12.09 billion, compared to the ₦22.22 billion loss in 2024. Its …
