The number of litigations claimed in monetary terms against Zenith Bank and six other lenders increased to over N4 trillion in the first half (H1) of this year, posing a significant threat to their balance sheets. The other six banks are Sterling Financial Holdings Company, Wema Bank, FCMB Group, Guarantee Trust Holding Company (GTCO), Stanbic …
A pinnacle Daily data analysis has revealed that out of the approximately 147 companies listed on the Nigerian Exchange Limited (NGX), 10 dominant firms are responsible for more than 60 per cent of the NGX's total market capitalization, exerting a significant influence on the exchange's overall performance BUA Foods now leads the top 10 most …
The National Insurance Commission (NAICOM) has said that regional insurance collaboration is needed to bridge the climate finance gap in West Africa. The Commission's Chief Executive Officer, Olusegun Omosehin, made the call while delivering a keynote address at the 2025 West Africa Insurance Companies Association (WAICA) Education Conference in Lagos on Monday, October 13. He …
The Federal Competition and Consumer Protection Commission (FCCPC) has described the Central Bank of Nigeria (CBN) policy to ensure banks refund customers for failed automated teller machine (ATM) transactions within 48 hours as timely and long-awaited. In a statement on Monday, October 13, the commission vowed to work closely with the CBN to enforce compliance …
Zenith Bank Plc has paid a total of N51.3 billion as interim dividend to its shareholders for the Half Year (H1) 2025, at N1.25 per share. This reflects a 63.4 per cent increase from N31.4 billion paid in H1 2024. A statement released by the bank said the dividend payout, which was made on Friday, …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, would lead Nigeria's delegation to the World Bank and International Monetary Fund Annual Meeting in Washington, DC. The meeting opens on Monday, October 13, according to a statement on Sunday, October 12 signed by the Special Adviser to the President on Information and Strategy, …
The Central Bank of Nigeria (CBN) has introduced draft guidelines that will compel banks to provide instant refunds for failed Automated Teller Machine (ATM) transactions to customers. It issued the draft guidelines on Saturday, October 11, accompanied by a circular dated October 9 and signed by its Director of the Payments System Policy Department, Musa …
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 …
