United Bank for Africa (UBA) Plc said it has extended its sale of N157.843 billion shares to existing shareholders, known as a rights issue offer, by two weeks. It announced this in a statement issued over the weekend and signed by its Secretary/Legal Counsel, Bili Odum. The rights issue, which opened on Wednesday, July 30, …
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has approved fresh Statutory Rights of Occupancy (R-of-O) and Certificates of Occupancy (C-of-O) for 374 property owners across 15 streets in Abuja. The decision came after investigations by the Federal Capital Territory Administration (FCTA) revealed widespread abuse of land allocations. Officials discovered that many property …
In a bold move aimed at reforming Nigeria's mining sector, the Nigerian Mining Cadastre Office (MCO) has revoked over 4,700 mining licences that were hoarded by speculators and inactive holders. This action, taken in the past year, seeks to create a transparent, competitive, and investor-friendly environment that can attract serious players and boost Nigeria’s position …
The Department of State Services (DSS) has issued a one-week ultimatum to activist Omoyele Sowore, demanding that he retract an alleged disparaging post against President Bola Ahmed Tinubu and tender a public apology. In a letter dated September 7, 2025, and signed by Uwem Davis on behalf of the Director-General, the DSS said Sowore’s remarks …
The Nigerian naira has risen to a six-month high at the official foreign exchange (FX) market. According to data published on the Central Bank of Nigeria (CBN) website, the naira appreciated to ₦1,514.86 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Thursday, 04 September 2025, the last trading day last week before the public …
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that the five per cent surcharge on petroleum products reinstated in the new tax law is aimed at harmonising and providing transparency in the tax system. He said this in a post on Saturday, September 6, while clarifying what is true …
United Capital Research (UCR) has predicted that Nigeria’s headline inflation rate will drop to 20.83 per cent in August 2025, down from 21.88 per cent in July 2025. The pan-African financial services institution said its forecast is based on a combination of factors, including decreasing prices of major food items, relatively stable energy prices, especially …
Nigeria’s non-interest banks – Jaiz, TAJ and The Alternative Banks – recorded significant growth in assets in the 2024 financial year. Analysis of the banks’ full-year 2024 financial results revealed that the non-interest financial institutions recorded strong financial performance during the period. Pinnacle Daily’s analysis of the three banks’ 2024 financial reports revealed a combined …
The Edo State Independent Electoral Commission (EDSIEC) has announced plans to conduct councillorship by-elections in 63 wards across 15 local government areas of the state. However, there are conflicting reports regarding the actual number of wards and councils involved. While EDSIEC Chairman Jonathan Aifuobhokhan told journalists that the election would take place in 1,485 polling …
Nigerian industrialist and philanthropist Tony Elumelu has been nominated to receive the Appeal of Conscience Award at the 60th Annual Gala in New York. He is to be honoured alongsidewirrjfg the Archbishop of New York, Timothy Cardinal Dolan. The organisers of the Award, Appeal of Conscience Foundation, announced this in a statement issued by PR …
