The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will be delivering a series of national lectures to champion next-generation leadership. The first of its kind is set to be held at the Lagos Business School on Friday, October 3, 2025, according to a statement seen by Pinnacle Daily on Tuesday, September 30. …
The National Pension Commission (PenCom) has raised the minimum capital requirement for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to ₦20 billion from ₦2 billion. It said the revised capital requirements are to take effect immediately for new licences, while existing operators have until December 31, 2026, to comply. The commission announced the …
TAJBank, a non-interest bank, said it has met the Central Bank of Nigeria’s (CBN) new minimum capital requirement for national non-interest banks. Its Managing Director, Hamid Joda, confirmed this in a statement on Friday, September 26. “I am happy to report that through the leadership of our bank’s board and support of our valued shareholders …
Shareholders have approved the merger of Unity Bank Plc with Providus Bank Limited. They gave their consent at a court-ordered Extraordinary General Meeting (EGM) on Friday, September 26. The approval, expected to enable the banks to consolidate their assets as well as liabilities, represents a major step toward building a larger, more competitive financial institution …
Jaiz Bank Plc has received a national scale long-term issuer rating from BBB-(NG) to BBB(NG), with the outlook revised from positive to stable. The Nigerian pioneer non-interest bank was upgraded by GCR Ratings, a leading rating agency in Africa. In a statement on Wednesday, September 24, the Managing Director/Chief Executive Officer, Haruna Musa, reaffirmed the …
Global stocks fell on Wednesday as the dollar strengthened, following Federal Reserve Chair Jerome Powell’s cautious remarks on U.S. interest rates. Powell avoided committing to the sharp rate cuts investors expect in the coming months, dampening market sentiment. Traders still see a 92% chance of an October cut, according to CME FedWatch, but Powell stressed …
The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern that the Central Bank of Nigeria (CBN) benchmark interest rate cut will require the federal government to play a complementary role to fully unlock growth potential for the Nigerian economy. The CPPE Chief Executive Officer, Muda Yusuf, raised this in a statement on …
Nigeria’s gross external reserves expanded by $1.03 billion in the last 30 days, according to data from the Central Bank of Nigeria (CBN). This represents a 2.51 per cent increase to $42.03 billion as of September 19 from $41 billion as of August 19. A review of the CBN data shows that this is the …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, to balance price stability with growth, raising concerns over the cash reserve ratio (CRR) and monetary policy rate (MPR) environment. CPPE made the call in a statement on Sunday, September 21, by its …
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 …
