The Nigerian stock market traded northward, gaining N822.25 billion in the just-concluded week's trading, despite investors being more cautious of major stocks, including bank shares. The resilience pushed the All-Share Index (ASI) to advance by 0.92 per cent to close at 141,845.35 points. Overall market capitalisation reflected the uptrend, rising by 0.92 per cent to …
United Bank for Africa (UBA) Plc has reported a growth of 6.06 per cent profit after tax to N335.53 billion for the first half of the year, relative to N316.36 billion in the same period of 2024. The bank’s financial performance was reported in its half-year financial statements released on Thursday, September 18. The financial …
The Central Bank of Nigeria (CBN) has approved an operating licence for Apices Finance Company Limited to boost lending to small and medium-sized enterprises (SMEs) and deepen financial inclusion in the country. The approval was conveyed in a letter signed by the Director of Financial Policy and Regulation, Rita Sike, on Thursday, September 18. It …
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 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 …
International Monetary Fund (IMF) Managing Director Kristalina Georgieva today announced her intention to appoint Nigel Chalk as Director of the Fund’s Western Hemisphere Department (WHD). Mr Chalk will assume his new role effective October 27, 2025. A UK and Irish national, Mr Chalk brings to the role nearly three decades of experience at the Fund. …
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 …
Niteon, one of Nigeria's largest digital export marketplaces, has announced the launch of Niteon Capital, the first neobank built specifically for African manufacturers. Founded by Nigerian entrepreneurs Tony Nwose and Daniel Chukwuemelie, the US-based startup has already built a reputation for helping verified African manufacturers, spanning agriculture, fabrics and mineral products, connect seamlessly to international …
