The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Wednesday defended the bank’s policy direction on inflation, foreign exchange management, SME financing, banking recapitalisation, customer complaints and external reserves, insisting that recent economic pressures stem largely from external shocks and that ongoing reforms remain on course. Speaking while responding to journalists’ questions …
Banks must go beyond traditional lending products and provide more flexible, structured trade solutions if African businesses are to take advantage of growing cross-border trade opportunities, a Corporate Banking Director at Absa Bank Tanzania, Nellyana Mmanyi, has said. Mmanyi made the call in a statement on Wednesday made available to Pinnacle Daily. She stated that …
The Central Bank of Nigeria (CBN) has retained its benchmark interest rate at 26.5 per cent, as policymakers weighed moderating inflation, stronger external reserves and growing global economic uncertainties. CBN Governor, Olayemi Cardoso, announced the decision on Wednesday at the end of the two-day 305th meeting of the Monetary Policy Committee (MPC) in Abuja. The …
With Nigeria’s banking recapitalisation exercise now concluded, attention is shifting to whether stronger banks will finally channel more credit to agriculture, manufacturing, and small businesses, sectors widely seen as underserved despite their crucial role in driving economic growth. This position was outlined by Ummie Kabir, a PR consultant with Apex Media Services, who argued that …
Access Holdings Plc has crossed the ₦1 trillion profit threshold. But beneath the headline numbers lies a more nuanced story of transformation, risk, and strategic repositioning. Here are ten critical things every investor and market watcher must note. The ₦1 Trillion Profit Milestone Is Historically Significant For the first time in its corporate history, …
There is a paradox at the heart of Fidelity Bank Plc's 2025 full-year financial statements: a bank that has never been larger, never held more deposits, and never earned more gross revenue has nonetheless posted a lower profit than it did the year before. For investors, analysts, and regulators watching Nigeria's banking sector navigate one …
First HoldCo Plc, the parent company of First Bank of Nigeria, said it is seeking shareholders’ approval to raise ₦253.099 billion in fresh equity capital. The move is aimed at strengthening its balance sheet and approaching a ₦1 trillion paid-up capital base, which the bank earlier sought. The group made the proposal in a notice …
The Africa Financial Summit (AFIS) will hold its 2026 edition on November 3 and 4 in Luanda, Angola, marking the first time the leading African finance platform will take place in Southern Africa and in a Lusophone country. The organisers announced the decision in a statement on Monday to Pinnacle Daily, saying the move reinforces …
Fidelity Bank Plc has reported a drop in profit for the 2025 financial year, with earnings falling to ₦242.44 billion, down from ₦278.11 billion in 2024, as a large derivative loss and rising costs pressured performance. In the bank's audited results released on Monday, May 11, Fidelity Bank stated that its performance was majorly affected …
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 …
