The House of Representatives Ad-hoc Committee investigating pre-shipment inspection of exports and the non-remittance of crude oil proceeds has directed key government agencies and a private sector body to submit comprehensive records related to its ongoing probe. The directive followed concerns by lawmakers over incomplete documentation submitted by the agencies, as the committee seeks to …
The Senate Committee on Banking, Insurance and Other Financial Institutions has called on the Central Bank of Nigeria (CBN) to strengthen regulatory oversight of financial technology firms in order to curb rising cases of fraud within Nigeria’s banking system. The committee also urged the apex bank to introduce stricter regulatory measures to tackle the growing …
The Nigerian stock market has gained over ₦24 trillion from January 2, 2026, when the market opened for the year, to February 27, 2026, in the first two months of the year. In this report, Pinnacle Daily chronicles the 30 top-performing stocks that powered the strong rally on the Nigerian Exchange Limited (NGX). In the …
The recent escalation of conflict in the Middle East, involving US-led strikes on Iran and subsequent retaliation, has caused a notable surge in crude oil prices in the global energy markets. The surge in crude oil prices in the international market has caused a hike in the prices of Premium Motor Spirit (PMS), also known …
The Nigeria Customs Service (NCS), Kano/Jigawa Area Command, has intercepted precious metals worth ₦116.28 million, allegedly smuggled into the country, at Mallam Aminu Kano International Airport, reinforcing efforts to secure borders and facilitate legitimate trade. The Acting Customs Area Controller, Deputy Comptroller of Customs Usman Adamu, handed over 22.80kg of suspected silver bars and a …
Champion Breweries Plc took on ₦59.03 billion in new borrowings in 2025 to finance the ₦60.3 billion acquisition of the Bullet brand assets and other capital projects. This borrowing sharply increased its debt profile and pushed its gearing ratio to 89 per cent, Pinnacle Daily analysis of the company’s audited 2025 financial statement released on …
MTN Nigeria Communications Plc grew its revenue to ₦5.20 trillion in 2025, driven largely by the 50 per cent tariff adjustment approved by the Nigerian Communications Commission (NCC), Pinnacle Daily can report. A review of MTN Nigeria’s 2025 audited financial report shows that the tariff increase implemented across its service offerings was a primary driver …
The global oil market was rattled on Monday, March 2, as crude prices surged toward $80 per barrel, driven by escalating tensions across the Middle East and fears of broader supply disruptions. According to data published by OilPrice.com, Brent Crude rose sharply on Monday, reaching $79.85 per barrel. The U.S. counterpart, West Texas Intermediate (WTI), …
Nigeria’s stock market delivered one of its strongest monthly performances in recent history in February 2026, with investors gaining ₦17.61 trillion in February. Energy and industrial stocks drove the broad-based rally despite intermittent profit-taking. Pinnacle Daily review of data from the Nigerian Exchange Limited (NGX) showed that the benchmark All-Share Index (ASI) advanced by 16.60 …
Nigerian Exchange Group Plc (NGX Group) reported a slight increase in profit after tax to N10.48 billion in 2025, up from N9.92 billion in 2024. The Group disclosed this in its audited financial statement for the year ended December 31, 2025, released on Friday, February 27. Pinnacle Daily analysis of the results shows that the …
