Visa and Mastercard have reached a revised settlement with merchants who alleged the card networks charged excessive fees for accepting their credit cards, according to a court filing on Monday. The updated settlement was revealed in a letter filed in Brooklyn federal court by a lawyer representing some of the plaintiffs. Details on the revised …
Every December, Lagos transforms into a magnetic cultural phenomenon a city pulsing with rhythm, reunion, and revelry. It is the season when Nigerians from across the diaspora, popularly known as IJGBs (“I Just Got Backs”), return to the city for what has become an annual pilgrimage of fun, nostalgia, and self-expression. These returnees arrive …
The United States is facing a worsening air travel crisis as the ongoing government shutdown enters its second week, forcing the Federal Aviation Administration (FAA) to impose sweeping nationwide flight cuts and heightening frustration among airlines and passengers alike. On Saturday, major U.S. airlines slashed another wave of flights, marking the second consecutive day of …
The Nigerian stock market ended the first week of November on a bearish note as profit-taking dominated trading sentiment amid domestic and external headwinds, leaving investors to suffer a ₦2.83 trillion loss. Trading activity started on Monday, November 3, on a bearish note, sustaining the momentum all through the week. As a result, the total …
Nigeria, often called the Giant of Africa, is a nation of extraordinary cultural diversity. With over 250 ethnic groups, the country’s festivals are vivid windows into its history, traditions, and communal life. From age-old spiritual rites to contemporary cultural extravaganzas, Nigerian festivals celebrate identity, community, and heritage. Here is an exclusive guide to 31 of …
Post-election protests have brought Douala, Cameroon's economic capital, to a near standstill. Shops remain shuttered, markets are empty, transport services are disrupted, and the rising cost of basic goods is squeezing households already struggling with high inflation. Economists estimate the city is losing over 10 billion CFA francs (about €15 million) daily due to business …
The International Monetary Fund (IMF) has concluded its latest mission to Senegal without finalizing a new lending programme, though discussions are still ongoing. Mission Chief Edward Gemayel confirmed that negotiations would continue in the coming weeks, noting that Senegal’s government was committed to restoring fiscal discipline after uncovering billions of dollars in unreported debt left …
For the first time in history, the U.S. Labor Department will miss releasing its key employment report for a second consecutive month, as the ongoing government shutdown stretches into its second month, the longest ever recorded. The data blackout has left economists, investors, and policymakers struggling to gauge the true state of the American economy. …
Despite a dramatic threat from US President Donald Trump to launch military action against Nigeria over alleged Christian persecution, the country’s economy remains remarkably stable, reflecting resilience amid geopolitical tensions. Data from key economic activities as monitored by Pinnacle daily highlight a robust economic outlook, showcasing the Nigerian economy’s ability to weather external challenges. Trump's …
With the successful subscription of the $2.35 billion Eurobond issuance, which was oversubscribed by $10.65 billion, Nigeria's public debt is expected to rise by $34.63 billion on average, Pinnacle Daily can report. The nation’s Debt Management Office (DMO) on Wednesday, November 5, disclosed that Nigeria had returned to the international capital market to raise a …
