Naira appreciated further against the United States (US) dollar to close at N1,455 on Thursday, October 2, reaching its highest appreciation since the beginning of this year. It closed on Tuesday, September 30, at ₦1,475 as there was no official trading on Wednesday, October 1, because of the public holiday to mark Nigeria’s 65th Independence …
The Nigerian Securities and Exchange Commission (SEC) has raised concern over the slow pace of regional integration of the capital markets in West Africa, warning that each year of delay is a lost opportunity to mobilise resources for critical projects that can transform our economies. Sec Director-General, Emomotimi Agama raised the concern at a meeting …
The Central Bank of Nigeria (CBN) has hinted at a plans to take full control of the fixed income market with effect from November 2025. CBN made this known in a statement signed by its Acting Director of the Financial Markets Department, Okey Umeano. The apex bank said it will start a phased operational overhaul …
Private sector business activity in Nigeria moderated as the Purchasing Managers Index (PMI) slid to 53.4 points in September despite the continued decline in inflationary pressure. The slide in business activity was captured in the Stanbic IBTC Bank's PMI report released on Thursday, October 2. The report showed that PMI dropped to 53.4 points in …
The Corporate Accountability and Public Participation Africa (CAPPA) has called on the President Bola Tinubu-led administration to ensure that Nigeria feels the gains of self-rule through programmes and policies that will lift the citizens out of poverty, hunger, and insecurity. The organisation made the call in a statement by its Media and Communication Officer, Robert …
Labour Party (LP) presidential candidate in the 2023 general elections, Peter Obi, has condemned the demolition of buildings at the Lagos Trade Fair Complex. The former Anambra State Governor criticised the action by the Lagos State authorities in a statement on Tuesday, September 30. He asserted that the demolition did not follow due process. “To …
Nigeria and three other African countries are billed to be removed from the Financial Action Task Force’s (FATF) grey list in October. Bloomberg disclosed this in a report on Tuesday, September 30, stating that the task force’s assessors, who carried out on-site visits in recent weeks, hinted at significant progress. Pinnacle Daily reports that the …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will be delivering a series of national lectures to champion next-generation leadership. The first of its kind is set to be held at the Lagos Business School on Friday, October 3, 2025, according to a statement seen by Pinnacle Daily on Tuesday, September 30. …
FCMB Group Plc has raised its market capitalisation to N446.96 billion after converting N23.11 billion loan to shares. The debt-to-equity conversion saw the Group list an additional 3.16 billion shares at 50 kobo each on the Nigerian stock market. The Nigerian Exchange (NGX) confirmed the conversion in a statement on Tuesday, September 23. It noted …
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said that the new tax law will offer investors in the Nigerian capital market a N150 million annual exemption in capital gains tax (CGT). Oyedele reportedly clarified this during a high-level stakeholders dialogue with issuers, investors, intermediaries, and regulators, convened …
