FXTM, a global leader in online trading, has announced the launch of FXTM Edge, a new trading account designed to give Nigerians an easy and innovative way to enter the financial markets. FXTM Edge provides an accessible entry point into the markets by allowing traders to begin with as little as $50 through a micro trading account, enabling …
As banks' recapitalisation remains about six months to the deadline, 28 banks are now under pressure, with only six listed and two other non-listed banks fully crossing the minimum capital thresholds. Among the listed banks are Access, Zenith, GTB, Wema, Jaiz, and Stanbic IBTC. At the press briefing on its July monetary policy committee (MPC) meeting, …
Wema Bank Plc said it has received approval from the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) for the successful completion of its N150 billion rights issue. The bank announced this in a statement seen by Pinnacle Daily on Thursday, September 11. The offer, which opened on April 14 this year …
Dangote Cement Plc has said that shareholders of the company received about N3.3 trillion in dividends over the past 15 years. This benefit besides the significant capital gains from the appreciation of the company’s stock. The Dangote Cement Chairman, Emmanuel Ikazoboh, hinted at this during the company’s ‘Facts Behind the Figures’ presentation at the Nigerian …
The Securities and Exchange Commission (SEC) has advised graduating Cadets of the Nigerian Defence Academy (NDA) to explore the various investment opportunities available in the capital market to create wealth. Director General of the Commission, Emomotimi Agama, gave this advice at the 23rd Convocation Lecture in honour of graduating cadets of 72 Regular Course and …
Nigerian banks are increasingly turning to non-interest income to diversify revenue streams, enhance profitability, and mitigate risks associated with traditional interest-based models. Analysts observed that this shift is mainly driven by economic volatility, regulatory changes, and the growing adoption of digital financial services. Pinnacle Daily’s analysis of the financial statements of eight Nigerian commercial banks …
The National Insurance Commission (NAICOM) has directed all insurance companies (insurers) to submit their recapitalisation plans on or before September 30, 2025. The directive is contained in guidelines on the minimum capital requirement (MCR), according to a circular on Monday, September 8, by the Director of the Supervision Directorate, Oluwatoyin Charles. It said the framework …
United Bank for Africa (UBA) Plc said it has extended its sale of N157.843 billion shares to existing shareholders, known as a rights issue offer, by two weeks. It announced this in a statement issued over the weekend and signed by its Secretary/Legal Counsel, Bili Odum. The rights issue, which opened on Wednesday, July 30, …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said the banks' recapitalisation exercise is "making good progress". He hinted at this during a fireside chat at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos, moderated by the Chief Country Representative, Deutsche Bank Nigeria, Andreas Voss. The update is coming; after …
Nigeria’s non-interest banks – Jaiz, TAJ and The Alternative Banks – recorded significant growth in assets in the 2024 financial year. Analysis of the banks’ full-year 2024 financial results revealed that the non-interest financial institutions recorded strong financial performance during the period. Pinnacle Daily’s analysis of the three banks’ 2024 financial reports revealed a combined …
