FCMB Group Plc posted a net foreign exchange loss of ₦14.06 billion in 2025, reversing a ₦36.47 billion gain recorded a year earlier. The lender disclosed this in its unaudited financial statements for the year ended December 31, 2025, released on Thursday. Pinnacle Daily analysis of the results shows that the reversal was largely driven …
Dangote Petroleum Refinery has reaffirmed its capacity to supply massive volumes of petroleum products, including Premium Motor Spirit (PMS), also known as petrol, Automotive Gas Oil (diesel) and aviation fuel, effectively positioning itself to meet and exceed Nigeria’s total domestic demand. In an update shared on Thursday, January 29, the 650,000-barrel-per-day refinery said it can …
The Nigerian Exchange Limited (NGX) has granted 24 months for Multi-Trex Integrated Foods Plc to comply with the free float requirement. Multi-Trex disclosed this in a statement on Thursday signed by its Secretary, Sogunle Adebisi Adekunle. It said the approval followed its application to the NGX for additional time to meet the prescribed free float …
The Presidential candidate of the Labour Party (LP) Peter Obi, in the 2023 election, says he has never encouraged members of the Obidient movement to insult leaders within the opposition coalition. Obi spoke on Tuesday during an engagement with supporters at the Obidient movement’s secretariat, where he distanced himself from abusive attacks allegedly carried out …
The crisis over Local Government Administration in Osun State intensified on Wednesday as Governor Ademola Adeleke, the state government and the Peoples Democratic Party (PDP) rejected claims by the All Progressives Congress (APC) that its sacked council chairmen still have a legal right to remain in office. In separate statements issued in Osogbo, the PDP …
The Chairman of Akoko-Edo Local Government Area of Edo State, Hon Alabi Bliss Oshionogue, has been removed from office following his impeachment by members of the council’s legislative arm. The impeachment was conveyed in a letter signed on Wednesday by seven councillors, a move that came hours after a scheduled peace meeting between the chairman …
President Bola Tinubu has asked the Senate to amend the Court of Appeal Act to increase the number of justices from 70 to 110, as part of broader efforts to strengthen Nigeria’s appellate justice system and reduce growing pressure on the courts. The proposed amendment also provides for virtual hearings and the establishment of an …
The Federal Government says it could save about ₦5.06 trillion annually by cutting down on the importation of defence equipment, as it steps up efforts to promote local manufacturing in the sector. The Minister of State for Defence, Bello Mohamed Matawalle, disclosed this on Thursday in Abuja during the unveiling of the X-Shield Light Tactical …
The National Agency for Food and Drug Administration and Control (NAFDAC) says it did not shut down any alcohol-producing company while enforcing the ban on alcoholic drinks packaged in sachets and containers below 200 millilitres. The agency said it introduced the enforcement to protect public health, especially children, adolescents and young adults. The move follows …
DHL Aviation has expanded its logistics capacity in Nigeria with the deployment of two fully branded Boeing 737-400 cargo aircraft, reinforcing its air freight network across West Africa. The aircraft were unveiled at the Murtala Muhammed International Airport, Lagos, as part of DHL’s broader investment in strengthening logistics infrastructure across Sub-Saharan Africa. In a statement, …
