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 Central Bank of Nigeria (CBN) said it has concluded the banking sector recapitalisation programme, announcing that banks raised a total of ₦4.65 trillion. The apex bank said this in a statement issued on Wednesday, April 1, signed by its Director of Banking Supervision, Olubukola Akinwunmi, and Acting Director of Corporate Communications, Hakama Sidi Ali. …
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to submit detailed cybersecurity assessments under a newly deployed supervisory framework, warning that false disclosures will attract sanctions. In a circular dated March 30 and signed by Olubunmi Ayodele-Oni, Director of the Compliance Department, the apex bank announced the rollout of its …
As the March 31 deadline for bank recapitalisation set by the Central Bank of Nigeria (CBN) expires on Tuesday (tomorrow), a handful of banks remain under pressure to meet the requirement. The affected banks are still dealing with regulatory, legal and structural challenges that have slowed their progress, even as most of the industry has …
The Centre for the Promotion of Private Enterprise (CPPE) says Nigeria’s bank recapitalisation has strengthened the financial system but warns that without increased lending to businesses, the exercise will have little impact on the real economy. It gave the warning in a statement issued on Sunday, March 29, by its Chief Executive Officer, Muda Yusuf, …
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has said Nigeria’s capital market is yet to unlock its full potential, calling for urgent collaboration among regulators, investors and issuers to drive sustainable growth and global competitiveness. Speaking at the Emerging Africa Capital Limited Investor Summit & Awards, Agama said while recent reforms …
As the Central Bank of Nigeria's (CBN) recapitalisation deadline closes on March 31, 2026, Nigeria’s banking sector is entering a new phase, with attention shifting from capital raising to the real economic impact of the exercise. The recapitalisation programme, launched in March 2024 with a 24-month compliance window from April 1, 2024, is designed to …
Just six per cent of Nigerians feel financially secure, as inflation, low incomes, squeeze households, according to a Piggyvest Savings Report 2025 released recently. The report shows that low incomes, persistent inflation and rising family responsibilities continue to erode savings capacity. It paints a stark picture of financial fragility, revealing that the vast majority of …
The Central Bank of Nigeria (CBN) says it is set to review the Federal High Court judgement on its 2024 intervention in Union Bank of Nigeria Plc, signalling possible next steps after the ruling. In a statement issued Wednesday and signed by its acting director of corporate communications, Hakama Sidi Ali, the apex bank said …
