Presco Plc has won its appeal against a Federal High Court ruling that placed interlocutory restrictions on its 2025 Annual General Meeting (AGM), rights issue, and the recognition of its corporate actions by regulators. The Court of Appeal, Benin Judicial Division, on August 21, 2026, allowed Presco’s appeal in its entirety and set aside the …
Geregu Power Plc's bond default may have shocked investors, but a review of its share-price performance and half-year financial position suggests that some warning signs were already visible before the company failed to meet its latest debt obligations. Checks by Pinnacle Daily reveal that the company’s share price fell 19.6 per cent between January 2 …
Geregu Power Plc has appointed Engr Mohammed Sani Jaoji as its acting Chief Executive Officer, effective Monday, August 17, 2026. The appointment comes amid growing concerns over the company’s debt obligations and recent default on its bond repayment. The company announced the appointment in a statement to the Nigerian Exchange Limited (NGX) and the investing …
The Imo State Government has banned street trading, hawking, illegal roadside structures and the loading and offloading of goods along major roads in Owerri, the state capital, as part of measures to ease traffic congestion and improve road safety. The affected roads include Rotobi, Royce and Douglas, located in the heart of Owerri. The directive …
For decades, Abuja was known primarily as Nigeria's political capital, a city of government offices, diplomatic missions, luxury hotels and a rapidly expanding residential landscape. That identity is changing. Across Gwarinpa, Jabi, Kuje, Kwali, Galadimawa, Bwari and other parts of the Federal Capital Territory, a different kind of infrastructure is increasingly becoming visible: universities. The …
The presidential candidate of the Peoples Redemption Party (PRP) for the 2027 general election, Donald Duke, has called for a major overhaul of Nigeria’s financial system, saying high interest rates and rising public debt are hurting businesses and economic growth. Duke, a former governor of Cross River State, said the country needed economic reforms focused …
Nigeria's top three cement producers—Dangote Cement, BUA Cement, and HBM Nigeria (formerly Lafarge Africa)—recorded a combined profit after tax (PAT) of approximately ₦1.16 trillion in the first half (H1) of 2026, marking a significant 40.36 per cent growth compared to the same period in 2025. This profit surge was driven by a combination of strong …
Dangote Refinery is targeting October 2026 for a landmark listing in the stock market to raise $5 billion through an initial public offering (IPO) to finance the expansion of the facility in Lagos. According to a report by Reuters, if approved and completed, the public offering will be one of the largest equity raises in …
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has officially opened applications for a $150 million offshore expansion facility designed to modernize and scale Nigerian enterprises. Developed in partnership with Germany-based commercial banking group ODDO BHF SE, the financing package offers eligible businesses access to long-term expansion capital at single-digit interest …
The National Insurance Commission (NAICOM) has announced the successful completion of the 12-month insurance sector recapitalisation exercise undertaken in line with the provisions of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. In a statement released on Sunday, NAICOM said the successful completion of the recapitalisation exercise marks “a defining milestone in the transformation of Nigeria's insurance …
