Nigeria has been removed from the European Union's list of high-risk third countries for money laundering and terrorism financing, with the Nigeria Financial Intelligence Unit (NFIU) attributing the development to sustained government reforms, stronger law enforcement, and improved inter-agency collaboration. The Head of Strategic Communications at the NFIU, Aishatu Bantam, disclosed this on Thursday during …
The Central Bank of Nigeria's (CBN) revocation of operating licenses for 46 microfinance banks (MFBs), effective July 1, 2026, is the latest chapter in a decade-long effort to clean up a sub-sector that has long struggled to reconcile its social mandate, extending credit to Nigeria's unbanked and underbanked, with the discipline of prudential banking. Acting …
Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), took questions from Pinnacle Daily and other reporters at a mid-year media roundtable at the Afreximbank African Trade Centre (AATC) in Abuja, which centered on rating agencies and the focus of the bank going forward. Except: Standard & …
A federal government delegation has visited the Bille community in the Degema Local Government Area of Rivers State following a gas seepage incident, delivering immediate humanitarian aid and promising a comprehensive technical solution to the environmental crisis. The delegation, led by the Minister of State for Petroleum Resources (Gas), Senator Ekperikpe Ekpo, and the Commission …
The Federal High Court sitting in Abuja has affirmed the leadership of the African Democratic Congress (ADC) under National Chairman Sen. David Mark and National Secretary Ogbeni Rauf Aregbesola. The court gave the affirmation while dismissing a suit filed by House of Representatives member Hon. Leke Abejide, challenging the party’s leadership structure. Presiding Judge Justice …
Presidential candidate of the African Democratic Congress (ADC) for the 2027 general election, Atiku Abubakar, has appointed ADC chieftain Kenneth Okonkwo as his spokesperson. Okonkwo announced the appointment in a post on his verified X handle on Thursday morning. While thanking Atiku for the confidence reposed in him, Okonkwo said the gesture reflects the level of Atiku’s …
The Department of State Services (DSS) has arraigned five men accused of concealing the whereabouts of former Bayelsa State Governor Timipre Sylva, who is wanted over his alleged involvement in a plot to overthrow the administration of President Bola Tinubu. The defendants: Reuben Ayuba, Musa Mohammed, Friday Paul, Paganengigha Anagaha and Ayebaifie Suobite were brought …
Nigeria's 2026 budget has allocated N1.3 billion to the Presidential Foreign Intervention Promotion Council (PFIPC), despite the Presidency insisting that the council does not exist under President Bola Tinubu's administration. The discrepancy emerged on Wednesday after the Presidency, through a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, maintained …
The Transmission Company of Nigeria (TCN) has restored power supply to parts of Lagos following a major outage caused by severe flooding that submerged critical equipment at two key transmission substations. The company had declared force majeure on Oworoshoki 132/33kV and Lekki 330/132kV Transmission Substations after persistent rainfall triggered widespread blackouts in several communities served by the …
Lagos residents have continued to count losses as heavy rain caused flash floods that submerged homes and roads and disrupted businesses in different parts of the state.
