Zenith Bank Plc has posted a decline in profit after tax to ₦532.18 billion for the first six months of the year, compared to ₦577.997 billion it recorded in the same period in 2024. The bank disclosed this in its 2025 interim financial statement released on Thursday, September 18. Pinnacle Daily review of the Zenith …
The federal government, states, and local government councils (LGCs) received N2.22 trillion as a federation allocation for August, increasing from N2.001 trillion in July. The Federation Account Allocation Committee (FAAC) disbursed the monthly allocation to the tiers of government for August. This was revealed in a statement on Wednesday, September 17, following the committee’s meeting …
The Chairman of United Bank for Africa (UBA), Tony Elumelu, said he was shattered by the fire outbreak that killed staff members of the bank, describing the inferno as a devastating incident. The fire incident occurred yesterday at Afriland Towers Building on Lagos Island, housing the UBA branch. Elumelu reportedly expressed his deep sorrow over …
Nigerians face untold economic hardship, which has worsened since President Bola Tinubu came into office in May 2023, but the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, said all that will change when the new tax laws come into effect in January 2026. He gave the assurance during a …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the fiscal and monetary authorities to prioritise reforms to sustain Nigeria's disinflation trend. Its Chief Executive Officer, Muda Yusuf, made the call in a statement on Tuesday, September 16. He said, "To consolidate and build on these gains, a coherent mix of fiscal, …
With a 36.55 per cent year-to-date (YTD) return of the All-Share Index as of September 12, the Nigerian stock market seems to have appreciated significantly since the beginning of this year. The boom is the result of an N26.16 trillion gain to investors as the market capitalisation rose from N62.763 trillion on January 2, when …
The Central Bank of Nigeria (CBN) has called on banks to secure its approval before appointing a new successor to the position of managing director six months before the exit of an incumbent, as provided in the corporate governance guidelines. It issued the directive in a circular signed by the Director of Financial Policy and …
The Lagos State Fire and Rescue Service has confirmed a fire incident that occurred in one of the United Bank for Africa (UBA) branches on Lagos Island on Tuesday, September 16. The authority confirmed this in a statement signed by its Deputy Controller General, Ogabi Olajide. It stated that operatives were battling the fire at …
The new tax laws expected to take effect from January 1, 2026, have left many Nigerians apprehensive about certain provisions. One of the provisions is the requirement of a tax identification number (TIN), tax identity (Tax ID) and National Identification Number (NIN) before anyone can continue to operate or open a bank account in Nigeria. …
Following the recent report of the consumer price index (CPI), the Special Adviser to the President on Economic Matters, Tope Fasua, believes Nigeria’s headline inflation is headed towards a single-digit figure. Fasua, who appeared on Channels Television’s Morning Brief on Tuesday, September 16, expressed optimism that the continued drop in inflationary pressure would translate to …
