Nigerian banks are increasingly turning to non-interest income to diversify revenue streams, enhance profitability, and mitigate risks associated with traditional interest-based models. Analysts observed that this shift is mainly driven by economic volatility, regulatory changes, and the growing adoption of digital financial services. Pinnacle Daily’s analysis of the financial statements of eight Nigerian commercial banks …
In a bid to ease growing concerns among Nigerians, the federal government has announced a delay in the implementation of the new tax law, including the controversial 5% fuel surcharge, until January 1, 2026. Finance Minister Wale Edun made this revelation on Tuesday, attempting to quell fears of an even greater strain on household budgets …
Former Labour Party governorship candidate in Imo State, Athan Achonu, has said state governors determine who emerges in the Senate, House of Representatives and state Houses of Assembly. Achonu, who spoke on Tuesday during an appearance on News Central’s Breakfast Central, explained that governors exercise such influence because they control the local government system. He …
PZ Cussons Nigeria Plc has made a comeback to profitability, posting a ₦10.07 billion profit after tax; however, the company remains in a debt obligation with negative net assets, which puts its financial position at risk. A review of the company's audited financial statements for the year ended May 31, 2025, shows PZ Cussons remains …
The National Union of Petroleum and Natural Gas Workers (NUPENG) has vowed to press ahead with its nationwide strike following the breakdown of a conciliation meeting convened by the Minister of Labour and Employment, Muhammad Dingyadi, to resolve the dispute between the union and the Dangote refinery. The meeting, which was held on Monday, ended …
Ola Olukoyede, Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has urged media professionals across Nigeria to intensify efforts to expose corruption, fraud, and misuse of public office. In his keynote delivered in Warri during the 12th Annual Conference of the Association of Communication Scholars and Professionals of Nigeria (ACSPN), with the theme …
The National Insurance Commission (NAICOM) has directed all insurance companies (insurers) to submit their recapitalisation plans on or before September 30, 2025. The directive is contained in guidelines on the minimum capital requirement (MCR), according to a circular on Monday, September 8, by the Director of the Supervision Directorate, Oluwatoyin Charles. It said the framework …
Visit to Malami after Kebbi Attack Former Vice President Atiku Abubakar on Monday visited former Attorney General of the Federation, Abubakar Malami, following an attack on Malami’s convoy in Birnin Kebbi. Eyewitnesses said the incident occurred near the African Democratic Congress (ADC) secretariat, where about 10 vehicles were damaged and several supporters sustained injuries. Malami …
The Nigeria Civil Aviation Authority (NCAA) has summoned domestic airlines over the growing concerns affecting passengers and their flight operations. The emergency meeting is scheduled to be held on Wednesday, September 10, at the NCAA headquarters in Abuja. Its Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed this via his X handle on …
Nigeria has entered a new era of billionaire weddings. But instead of celebrating at home, these high-society unions are unfolding abroad, draining billions of naira out of the country. In less than three months, two major weddings, Temi Otedola’s union with Afrobeat star Mr Eazi and Davido’s marriage to Chioma Rowland, have cost a staggering …
