The Central Bank of Nigeria (CBN) has dismissed claims that Polaris Bank is facing liquidation, describing the circulating report as false and misleading. In a post on X on Thursday, the apex bank reassured the public that the Nigerian banking system remains stable and secure. The CBN statement followed a viral claim that Polaris Bank …
Nigeria must urgently accelerate privatisation, unlock private capital through public markets, and rethink how it finances infrastructure if it is to overcome its fiscal constraints and deliver sustainable growth. The Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun, said in an interview with Proshare on the theme: ‘Infrastructure, Fiscal Space, and Capital Market Funding.’ …
Nigeria’s economic direction in April 2026 is being shaped by five major forces ranging from monetary policy shifts to global shocks, according to a new report by the Alliance for Economic Research and Ethics LTD/GTE. In its 'Weekly Intelligent Business & Ethics Report' seen by Pinnacle Daily, the group said these forces are driving both …
Nigeria stands to gain from a stronger and more stable naira, but an excessive appreciation could undermine exports, fiscal revenue, and long-term economic diversification, warns Kazeem Bello, CEO and principal partner of Afrique Capital and Equity Funds Ltd, New York. Bello, a development economist and investment banker, told Pinnacle Daily that Nigerian authorities face a …
Nigeria’s economy showed signs of improving stability in the first quarter of 2026, but rising costs, geopolitical tensions and political risks could undermine progress in the months ahead, the Centre for the Promotion of Private Enterprise (CPPE) has said. In a policy brief issued on Sunday, April 5, its Chief Executive Officer, Dr Muda Yusuf, …
Wema Bank Plc incurred a ₦32 million cybersecurity penalty and recorded ₦847.6 million in losses from fraud and forgery in 2025, Pinnacle Daily can report. An analysis of the bank’s audited financial statements for the year ended December 31, 2025, revealed this, underscoring heightened operational and compliance risks during the year. It shows that the …
DEAP Capital Management & Trust Plc (DEAPCAP) has received an additional ₦2 billion in capital injection from Banklink Africa Private Equities Limited, bringing the total funds received under a ₦6 billion funding commitment to ₦3 billion. DEAPCAP announced this in a notice sent to the Nigerian Exchange Limited (NGX) on Thursday, April 2, 2026. This …
Commercial banks in Nigeria are tilting their lending portfolios in favour of the oil and gas sector, offering more competitive credit terms to energy firms while agriculture and manufacturing continue to face relatively higher borrowing costs. Data released by the Central Bank of Nigeria (CBN) as of March 20, 2026, show that although many lenders …
Despite expanding its balance sheet and growing customer deposits, Guaranty Trust Holding Company (GTCO) saw its bottom-line profits decline sharply in 2025 compared to the previous year. Pinnacle Daily analysis of the bank's 2025 audited financial statement reveals that GTCO suffered higher tax expenses and a plunge in non-interest income, declining its profit. The bank’s …
The Pension Fund Operators Association of Nigeria (PenOp) has appointed Anthonia Ifeanyi Okoro as its new Chief Executive Officer. Okoro succeeds Oguche Agudah, who led the association for six years. Her appointment took effect from March 30, 2026, as the body seeks to strengthen strategic leadership in the country’s pension industry. Announcing the appointment, PenOp …
