President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr. George Elombi, visited the African Medical Centre of Excellence (AMCE) in Abuja on July 3, 2026, as part of a working tour of Nigeria and the wider region. The visit doubled as a checkpoint on a bold experiment: can Africa …
Tony Elumelu has resigned as the group chairman from the board of directors of the United Bank for Africa (UBA) Plc. The bank disclosed this in a statement on Monday, noting that its Board of Directors, at a meeting held on July 6, accepted Elumelu's retirement letter. It said the board had appointed Non-Executive Director …
The federal government recorded a drop in its electricity subsidy payment in the first quarter of 2026 amid persistent blackouts. A report released by the Nigerian Electricity Regulatory Commission (NERC) shows that the federal government incurred a total electricity subsidy obligation of ₦358.32 billion in the first quarter (Q1) of 2026, down from ₦418.79 billion …
Investors on the Nigerian Exchange Limited (NGX) are set for another dividend season in July, with six listed companies scheduled to reward shareholders. Dangote Cement Plc led the July dividend season with a record N753.8 billion payout that signals strong corporate earnings despite a challenging business environment. The cement giant kicked off the dividend payments …
Global crude oil prices have continued to decline, with Brent, the international benchmark, briefly selling at $70 before rising slightly to $71.57 per barrel on Wednesday, July 2, 2026. The U.S. West Texas Intermediate (WTI) fell to $68.44 per barrel, according to Oilprice.com. This is considered the lowest level in months. The primary driver …
A member of the Imo State House of Assembly representing Okigwe Constituency, Samuel Chidiebere Ogbunikpa, has called on Governor Hope Uzodimma to urgently strengthen the state's emergency response system by establishing functional fire service stations and rehabilitating the dilapidated Okigwe Fire Station following the recent fire outbreak at Eke Okigwe Market. Ogbunikpa made the appeal …
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 & …
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.
