The possibility that the Central Bank of Nigeria (CBN) will cut the benchmark interest rate seems tempting than maintaining the status quo when its committee meet next week. Its two-day bi-monthly Monetary Policy Committee (MPC) meeting has been scheduled to be held on Monday, September 22 and Tuesday 23. CBN has held the rate unchanged …
As Nigeria pushes for a digital revolution to drive economic growth, the Lagos Business School (LBS) has projected that the country's e-commerce market will exceed $16 billion by 2030. The Dean of Lagos Business School, Professor Olayinka David-West, stated this on Saturday in Lagos, at the 35th annual conference of the Finance Correspondents Association of …
Nigeria has taken fresh steps to strengthen its economic partnership with Saudi Arabia, following high-level engagements at the Money20/20 Middle East Conference in Riyadh. Minister of State for Finance, Dr. Doris Uzoka-Anite, who led Nigeria’s delegation to the global fintech and finance forum, said the Tinubu administration is determined to reposition the economy and attract …
Zenith Bank Plc has posted a decline in profit after tax to ₦532.18 billion for the first six months of the year, compared to ₦577.997 billion it recorded in the same period in 2024. The bank disclosed this in its 2025 interim financial statement released on Thursday, September 18. Pinnacle Daily review of the Zenith …
The federal government, states, and local government councils (LGCs) received N2.22 trillion as a federation allocation for August, increasing from N2.001 trillion in July. The Federation Account Allocation Committee (FAAC) disbursed the monthly allocation to the tiers of government for August. This was revealed in a statement on Wednesday, September 17, following the committee’s meeting …
Nigerians face untold economic hardship, which has worsened since President Bola Tinubu came into office in May 2023, but the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, said all that will change when the new tax laws come into effect in January 2026. He gave the assurance during a …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the fiscal and monetary authorities to prioritise reforms to sustain Nigeria's disinflation trend. Its Chief Executive Officer, Muda Yusuf, made the call in a statement on Tuesday, September 16. He said, "To consolidate and build on these gains, a coherent mix of fiscal, …
With a 36.55 per cent year-to-date (YTD) return of the All-Share Index as of September 12, the Nigerian stock market seems to have appreciated significantly since the beginning of this year. The boom is the result of an N26.16 trillion gain to investors as the market capitalisation rose from N62.763 trillion on January 2, when …
The Central Bank of Nigeria (CBN) has called on banks to secure its approval before appointing a new successor to the position of managing director six months before the exit of an incumbent, as provided in the corporate governance guidelines. It issued the directive in a circular signed by the Director of Financial Policy and …
Nigeria's oil and gas sector reforms have delivered 28 Field Development Plans with $18.2 billion worth of investment commitments in 2025 alone, says Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Komolafe said these commitments are also expected to unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet (TCF) …
