Nigeria's biggest lenders—First HoldCo, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO), Access Holdings, and Zenith Bank, collectively known as FUGAZ—significantly expanded credit to the manufacturing sector between 2021 and 2025, making it one of the most important destinations for bank lending outside the oil and gas industry. However, a closer look at …
Efforts by the Securities and Exchange Commission (SEC) to tackle Nigeria's longstanding unclaimed dividend problem are facing renewed scrutiny as investors continue to complain about difficulties recovering their money, even as the value of unclaimed dividends in the capital market has climbed to ₦215 billion. The development raises questions about whether reforms introduced over the …
Global investors have committed a record $2 billion syndicated loan to the Africa Finance Corporation (AFC) for Africa’s infrastructure drive. In a statement on Thursday, the AFC said the facility signals strong confidence in the continent’s infrastructure growth prospects despite ongoing geopolitical tensions and volatility in international markets. The funding, AFC’s largest syndicated loan facility …
The Central Bank of Nigeria (CBN) has undertaken a major leadership reshuffle, redeploying all four of its deputy governors in a move aimed at strengthening coordination across key directorates and aligning responsibilities with the bank’s evolving priorities. The changes, which took effect on June 1, 2026, were reflected in updated profiles published on the apex …
Top regulators, bank chiefs and fintech founders gathered in Abuja on Monday with a shared mission and a shared warning. Nigeria's payment system is world-class. But millions are still locked out. Here is the plan to change that and the hard questions nobody is dodging. By the time the panellists took their seats at the …
When a market woman in Onitsha taps her phone to collect payment for a bag of tomatoes, she probably does not think about monetary policy or digital ecosystems. She thinks about whether the transfer will work, how long it will take, and whether she will be charged a fee that eats into her already-thin margins. …
European Central Bank President and former International Monetary Fund (IMF) chief Christine Lagarde on Thursday warned that central banks worldwide must protect their independence as political and economic pressures grow. Speaking at a conference in Phnom Penh, Cambodia, Lagarde said governments, economic shocks and declining public trust were increasingly testing central banks, according to an …
The Russia-Ukraine war, changing political decisions in the United States and rising global tensions are reshaping how Nigerian banks manage risk. This global turmoil is pushing the banks to rethink everything from loan quality and collateral values to cybersecurity and liquidity planning, Pinnacle Daily can report. A review of 2025 audited financial reports of 11 …
Fidelity Bank Plc posted a sharp increase in impairment charges on financial assets in the first quarter (Q1) of 2026, as rising macroeconomic pressures and higher provisions for other assets weakened profitability despite strong growth in earnings and foreign exchange gains. An analysis of the bank’s financial results released on Monday shows that impairment charges …
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria’s decision to keep interest rates unchanged, describing the outcome of the 305th Monetary Policy Committee (MPC) meeting as a balanced response to Nigeria’s inflation challenges. In a statement issued on Wednesday, May 20, Chief Executive Officer of CPPE, Dr …
