The Nigerian equities market continued on a positive momentum, with investors pocketing a ₦2.16 trillion gain in the just-concluded week, despite the negative sentiment that was printed on banking stocks. Market capitalisation, the total value of stocks listed on the Nigerian Exchange Limited (NGX), rose by 2.37 per cent week-on-week to close at ₦93.30 trillion …
Seven deposit money banks reported a 33.14 per cent increase in AMCON Levy to N404.71 billion in the first half of the year, compared to N303.98 billion recorded by the banks in the same period in 2024. A review of the half-year financial statements of the banks revealed this; Pinnacle Daily can report. This comes …
Wednesday's protest at the corporate headquarters of the Central Bank of Nigeria (CBN) brought to the fore the heightening fraudulent activities in Nigerian banks. Hundreds of protesters, under the aegis of a coalition of civil society organisations (CSOs), on Wednesday, October 8, protested against banks’ fraudulent practices that are leaving customers victimised. The protesters were …
The World Bank has revealed that despite Nigeria’s recent reform gains, an estimated 139 million citizens still live in poverty. Speaking at the launch of the latest Nigeria Development Update (NDU) report in Abuja on Wednesday, the Bank’s Country Director for Nigeria, Mathew Verghis, commended the federal government for implementing bold macroeconomic reforms, including the …
Electronic payment transactions in Nigeria surged to N384 trillion in July this year, rising by 37.14 per cent from N280 trillion in August 2024. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, disclosed this at the ongoing Nigeria Fintech Week 2025, which started on Tuesday, October 7, and is being held in …
The Bank of England (BoE) has warned that global financial markets could face a sharp correction if investor confidence in artificial intelligence (AI) prospects or the independence of the U.S. Federal Reserve weakens. In its latest Financial Policy Committee (FPC) report, the BoE noted that U.S. stock valuations are nearing levels last seen during the …
Nigeria’s non-interest capital market has grown to a valuation of over ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). Its Director-General, Emomotimi Agama, hinted at this during a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled to be held in Lagos on November 4 …
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has announced a remarkable rebound in its operations, which has resulted in the facilitation of over ₦70 billion in commercial financing for agribusiness as at Q3 2025, its strongest annual performance since inception. In operation since 2013, this result represents nearly a quarter of the …
The Central Bank of Nigeria (CBN) has insisted that agent banking services, including Point of Sale (PoS) agents, remain at ₦1.2 million and customer deposits, withdrawals, and bill payments at ₦100,000 a piece. It further restricts customers' deposits and withdrawals to ₦500,000 weekly and bill payments to ₦100,000 weekly. CBN issued the revised guidelines on …
The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) said it is set for its 4th National Stakeholders’ Conference to discuss the Artificial Intelligence (AI) revolution in the Nigerian banking system. It announced this in a statement to Pinnacle Daily on Monday, October 6. The conference is themed 'AI & the …
