In 2025, Nigerian banks sharply increased the volume of bad loans written off compared with 2024, particularly among Tier-1 lenders, according to an analysis by Pinnacle Daily. Shareholders have described the rising bad loans as evidence of a long-standing weakness in credit discipline within the banking sector, warning that it must be urgently addressed. Pinnacle's …
Ecobank Transnational Incorporated (ETI) has announced plans to raise fresh funds from the international debt capital market through the issuance of Tier 2 qualifying Nature Notes. The bank disclosed this in a statement released on Thursday and signed by its Group Executive Director and Chief Financial Officer, Ayo Adepoju. According to the statement, the funds …
First HoldCo Plc reported a strong profit in the first quarter of 2026, even as it faced heavy pressure from foreign exchange losses, rising costs, and a large cash outflow. The group’s profit rose to ₦267.8 billion, but its operations were weighed down by a ₦1.98 trillion net cash outflow, weaker FX gains, and higher …
Access Holdings Plc has explained why it failed to pay dividends to shareholders for the 2025 financial year despite posting over ₦1 trillion in profit before tax for the first time in its history. In a statement issued on Thursday, the company said the non-payment of dividends was caused “solely by outstanding regulatory compliance requirements” …
United Bank for Africa (UBA), Redtech and MoMo PSB have partnered to expand how Nigerians make and receive payments, allowing more customers to pay without using cash or cards. UBA said this in a statement on Tuesday, May 5, explaining that under the new arrangement, MoMo PSB customers can now pay directly from their mobile …
United Bank for Africa (UBA) and Guaranty Trust Holding Company (GTCO) recorded the weakest performances among Nigeria’s major banks in the first quarter of 2026, Pinnacle Daily reports. A review of the financial statements of seven banks for the period ended March 31, 2026, shows that foreign exchange (FX) losses and market-related shocks weighed on …
Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory requirements. The bank disclosed this in a corporate notice issued in Lagos on Tuesday, May 5, 2026. “The board expresses its deep appreciation to Jim Ovia for his outstanding service …
The Alliance for Economic Research and Ethics has challenged claims by Moniepoint that it has over 500 vacancies with no qualified Nigerians to fill them, describing the statement as misleading and not backed by evidence. In a statement on Monday reacting to comments by Moniepoint Chief Executive Officer (CEO) Tosin Eniolorunda, the group said the …
Access Holdings Plc crossed a major milestone in 2025, posting over ₦1 trillion in profit before tax, but the strong performance came with growing pressure from regulatory fines, legal disputes, and rising costs. A review of the group’s audited results shows gross earnings rose to ₦5.53 trillion, while profit after tax climbed to ₦743 billion. …
Nigeria’s external reserves posted a steady decline through April 2026, shedding close to $1 billion over the month. The development could heighten pressure on the foreign exchange market despite the country’s still robust reserve position, Pinnacle Daily can report. According to data from the Central Bank of Nigeria (CBN), gross external reserves fell consistently day …
