Retirees under Nigeria's Social Insurance Trust Fund scheme have received their first pension increase in 21 years, with the National Pension Commission (PenCom) confirming that monthly payments for some beneficiaries have risen more than elevenfold — from N18,000 to N206,000. PenCom Director-General Ms Omolola Oloworaran disclosed the figures while reviewing the Commission's recent reforms, describing …
President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr. George Elombi, visited the African Medical Centre of Excellence (AMCE) in Abuja on July 3, 2026, as part of a working tour of Nigeria and the wider region. The visit doubled as a checkpoint on a bold experiment: can Africa …
The Central Bank of Nigeria's (CBN) revocation of operating licenses for 46 microfinance banks (MFBs), effective July 1, 2026, is the latest chapter in a decade-long effort to clean up a sub-sector that has long struggled to reconcile its social mandate, extending credit to Nigeria's unbanked and underbanked, with the discipline of prudential banking. Acting …
Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), took questions from Pinnacle Daily and other reporters at a mid-year media roundtable at the Afreximbank African Trade Centre (AATC) in Abuja, which centered on rating agencies and the focus of the bank going forward. Except: Standard & …
Jaiz Bank Plc held a virtual Annual General Meeting today where Managing Director/CEO Dr Haruna Musa presented the bank's audited results for the year ended December 31, 2025, before taking questions from the media. Musa highlighted a 19 per cent rise in total assets to ₦1.29 trillion, a 24 per cent jump in customer deposits …
Jaiz Bank Plc has reported a 28 per cent growth in profit before tax to ₦31.24 billion for the year ended December 31, 2025, up from ₦24.44 billion in 2024, as the non-interest bank posted across-the-board growth in earnings, deposits and assets despite a tough macroeconomic environment. Disclosing the bank's audited results at a press …
The Nigerian Content Development and Monitoring Board (NCDMB) and Nigeria LNG Limited (NLNG) have reaffirmed their commitment to deepen collaboration on local content, as the gas giant's Train 7 project reached 90 percent completion and pre-commissioning activities got underway. The renewed commitment was made on Wednesday when NLNG's Managing Director and Chief Executive Officer, Engr. …
Family-owned businesses across Africa are growing faster than their global counterparts, even as inflation, tax complexity and supply chain disruptions weigh on the operating environment, according to PwC's Africa Family Business Survey 2025. The survey, which sampled 79 family businesses across East, West and Southern Africa, found that 66% reported sales growth in the past …
The Nigerian Police Force (NPF) Pensions has launched an interactive virtual assistant platform accessible through major social media channels in its bid to bring service closer and cheaper to its subscribers, with a target for full nationwide enrolment within three months. The acting Managing Director/Chief Executive Officer of NPF Pensions, Muhammed Dutse, says the organisation …
Top regulators, bank chiefs and fintech founders gathered in Abuja on Monday with a shared mission and a shared warning. Nigeria's payment system is world-class. But millions are still locked out. Here is the plan to change that and the hard questions nobody is dodging. By the time the panellists took their seats at the …
