Bank of America (BofA) has raised its return target as part of a new strategy to close the gap with Wall Street leaders. CEO Brian Moynihan announced the plan at the bank’s first investor day since 2011, signalling a renewed push to improve performance and capture more market share. BofA now aims to deliver a …
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have introduced tough new measures to force employers into complying with pension and insurance laws. Both regulators now require insurance companies to only work with employers that comply with pension deductions and employee life insurance contributions. In a joint circular issued on Wednesday, PenCom …
Nigeria's headline inflation is expected to decline further to 16.4 per cent owing to falling prices of foodstuffs and naira appreciation, according to research by United Capital. The pan-African financial services institution made the forecast in a report it released on Wednesday, November 5. "Nigeria’s headline inflation rate will drop to 16.30% in October 2025, …
The Nigeria National Petroleum Company Limited (NNPCL) says Nigeria’s oil output has been raised to 1.7 million barrels per day (bpd), with targets of hitting two million bpd by 2027 and three million in the long term. The company said this growth projection is driven by reforms in the oil and gas sector, which has …
Financial expert Funsho Doherty has slammed the recently approved 15% import duty on petrol and diesel, warning that it could further strain Nigerian households already grappling with high fuel costs. In an open letter to Senate President Godswill Akpabio, Doherty, who previously worked with Goldman Sachs & Co., PNC Advisors, Arthur Andersen, and served as …
Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has expressed concerns that United States President Donald Trump's threat of military action over alleged Christian genocide could have far-reaching implications for Nigeria's economy and investors' confidence. The renowned economist shared his thoughts on the matter in a statement …
The Nigerian stock market started the week on a bearish note as the All-Share Index (ASI) declined by 0.25 per cent to close at 153,739.65 amid concerns about United States President Donald Trump's threat of military action on Nigeria over alleged Christian genocide. Pinnacle Daily reported that Trump had asked the country’s Defence Department to …
The Debt Management Office (DMO) has opened subscriptions for the November 2025 edition of the Federal Government of Nigeria (FGN) Savings Bond at lower interest rates than the rates offered in October 2025. It announced this in a statement on Monday, November 3. The subscription period opens today and will be closed on Friday, November …
The Nigerian government's approval of a 15 per cent import tax on petrol and diesel, primarily to protect local refineries, has, however, sparked significant concerns over higher fuel prices and increased economic hardship for citizens. A memo dated October 10, 2025, signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), addressed to …
Reaching a 55.88 per cent year-to-date return at the close of trading on Friday, October 31, total stock market capitalisation rose to N97.83 trillion, leaving investors with a N7.25 trillion gain in one month on the Nigerian Exchange Limited (NGX). This is one of the largest single-month gains in recent times that the stock market …
