The Nigerian banking sector has entered a new phase of financial strength with the completion of the Central Bank of Nigeria’s (CBN) recapitalisation exercise. The programme, aimed at boosting the resilience, competitiveness, and lending capacity of banks, required Nigerian financial institutions to raise their minimum capital by March 31, 2026. The results are nothing short …
In this interview, Professor Uche Uwaleke, President of the Capital Market Academics of Nigeria, shares his insights on the recent recapitalisation of Nigeria’s banking sector. He discusses the importance of recapitalisation in strengthening the financial system, the benefits Nigerians can expect, and the potential risks involved. Professor Uwaleke, what role does recapitalisation play in …
An investigation by Pinnacle Daily has revealed that the Central Bank of Nigeria (CBN) was buzzing with jubilation over the ‘sacking’ of Deputy Governor, Operations Directorate, Bala Mohammed Bello, just two and a half years after his appointment on 5th October 2023. The jubilation was also shared by former CBN staff who consider themselves …
The Central Bank of Nigeria (CBN) has been hitting the right notes lately with its effort to increase its reserves, which have now effectively crossed the $50 billion mark, the first time in 13 years. In the last 24 hours, the apex announced that it increased total gold holdings to $3.5 billion after taking delivery …
Nigeria's history is rich with the contributions of journalists, spanning from the pre-independence era to the present day. It is a tale of bold, influential figures who dedicated themselves wholeheartedly to the pursuit of ‘Project Nigeria'. After playing pivotal roles in securing the nation’s independence, these journalists leveraged their platforms and loyal followings to …
In a move to accelerate financial inclusion across Nigeria, the National Association of Microfinance Banks (NAMB), Federal Capital Territory (FCT) Chapter, has convened a high-level corporate governance training for Chairmen, Executive Directors, and Non-Executive Directors of Microfinance Banks operating within Abuja. The strategic capacity-building session, themed “Corporate Governance: Framework for Growth and Sustainability", brought …
Nigeria’s foreign exchange reserves have reached a significant milestone, with the gross reserves now standing at $50.4 billion as of mid-February 2026, marking the highest level in the past 13 years, offering a strong indicator of the country’s economic resilience and positive outlook. This was confirmed by the Central Bank of Nigeria (CBN) Governor, Olayemi …
Recently, key economic data have revealed stronger foreign exchange (FX) inflows, tighter Central Bank controls, cooling inflation, and a shift in investor positioning, all of which are reinforcing the naira’s recent gains, although oil revenue and global risk remain key threats. Analysts are beginning to say that the naira’s recent strength is starting to look …
The US Supreme Court has ruled against President Donald Trump’s imposition of tariffs in a long-awaited ruling that will be seen as a blow for the president’s economic agenda. By 6-3 the court found that President Trump exceeded his authority by using a law reserved for national emergencies to impose tariffs. Here are 10 key takeaways from the …
Top associations of American businesses are demanding to be repaid for Donald Trump’s tariffs following Friday’s supreme court ruling. The US National Retail Federation, which represents a number of US retailers, from Walmart to small brands and manufacturers, called for “a seamless process to refund the tariffs to US importers". “The refunds will serve as an economic boost …
