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 …
Unilever Nigeria Plc is grappling with at least six major issues that are shaping its financial stability and business strategy, according to its latest financial disclosures. The challenges include rising costs, currency risks, restructuring efforts, and market concentration, as shown in the company’s unaudited results for the year ended December 31, 2025. It revealed that …
In Nigeria, the week of January 26–30 is relatively quiet for official data releases. Markets reopen on Monday, January 26, with attention on foreign exchange liquidity, interest rates, and oil prices. Tuesday will highlight private-sector developments, including economic outlook briefings expected from banks and businesses, as well as analyst reports. Wednesday is expected to be …
The Nigerian stock market recorded its first weekly decline in 2026, as investors lost about N394 billion amid sustained profit-taking. The All-Share Index (ASI) fell by 0.37 per cent week-on-week to close at 165,512.18 points, reflecting weaker investor sentiment. Market capitalisation also declined by 0.37 per cent to N105.96 trillion, from N106.35 trillion in the …
Many roads across Nigeria, including federal highways, remain in poor condition despite trillions of naira allocated each year for road projects. These roads are meant to link regions, support trade, and drive economic activity, but years of neglect have made travel difficult, unsafe, and costly. In a post shared on his X handle on December …
The minority caucus of the House of Representatives says it has found “illegal” changes in the published copies of the tax reform laws. In a statement on Friday, Afam Ogene, who heads a seven-member committee set up to investigate the issue, reportedly said a review of the laws showed that different versions are circulating. Ogene …
Several overlooked stocks emerged as major drivers of Nigeria’s stock market in 2025, delivering unexpectedly strong performances. The forces behind their gains may shape future investment decisions and signal patterns investors should watch. Pinnacle Daily reported that the stock market delivered a robust 51.19 per cent year-to-date return and a ₦36.62 trillion gain for investors. …
The Federal Ministry of Works will receive the largest funding for projects and operations under the 2026 Appropriation Bill. The Pinnacle Daily review of the 2026 proposed budget has shown. Others in the category are the Federal Ministry of Defence, the Ministry of Education, the Ministry of Health, and the Ministry of Agriculture and Food …
The African Export-Import Bank (Afreximbank) has announced the termination of its credit rating relationship with Fitch Ratings, following an internal review of the engagement. The bank made the decision public on Friday, January 23. It explained that the move was informed by concerns that the credit rating exercise no longer reflects an adequate understanding of …
