Femi Otedola has further increased his stake in First HoldCo Plc after Calvados Global Services Limited, a company related to the significant shareholder, acquired 147.74 million shares of the financial services group for about ₦20.68 billion. The transaction, disclosed by First HoldCo to the Nigerian Exchange Limited (NGX) on Monday, August 17, was executed on …
Geregu Power Plc's bond default may have shocked investors, but a review of its share-price performance and half-year financial position suggests that some warning signs were already visible before the company failed to meet its latest debt obligations. Checks by Pinnacle Daily reveal that the company’s share price fell 19.6 per cent between January 2 …
How Nigeria’s latest inflation figures expose a painful gap between the economic numbers and what families pay at the market For a Nigerian household walking into a market this week, one question may matter more than the latest inflation headline. If inflation is falling, why is the food bill still rising? The …
Geregu Power Plc has appointed Engr Mohammed Sani Jaoji as its acting Chief Executive Officer, effective Monday, August 17, 2026. The appointment comes amid growing concerns over the company’s debt obligations and recent default on its bond repayment. The company announced the appointment in a statement to the Nigerian Exchange Limited (NGX) and the investing …
For millions of Nigerians, the working day no longer ends when the office closes. At 5 pm, another shift begins. A civil servant becomes a trader. A teacher starts private lessons. A software developer takes on another client. A banker sells products online. A technician accepts evening jobs. A graduate turns to logistics, delivery or …
The Federal Government has reached an agreement with aviation sector unions and airline operators, granting domestic airlines flexible repayment plans for their outstanding debts to aviation agencies. The resolution also affirms that workers are free to join unions without interference by management of airlines. These were the key outcomes of an emergency stakeholders' meeting convened …
The president says "ordinary flame and smoke" is not enough; he commits to a structural reset of the nation's oil assets. President Bola Tinubu has assured Nigerians that the country's refineries will not be allowed to waste away, vowing to undertake a comprehensive restructuring that will reposition them for long-term profitability and value delivery. …
For decades, Abuja was known primarily as Nigeria's political capital, a city of government offices, diplomatic missions, luxury hotels and a rapidly expanding residential landscape. That identity is changing. Across Gwarinpa, Jabi, Kuje, Kwali, Galadimawa, Bwari and other parts of the Federal Capital Territory, a different kind of infrastructure is increasingly becoming visible: universities. The …
When a Nigerian court orders the forfeiture of a mansion in Abuja, a fleet of luxury vehicles in Lagos, or millions of dollars linked to corruption and drug trafficking, the announcement dominates headlines. Anti-graft agencies celebrate the win, and government officials assure Nigerians that the recovered wealth will serve the public good. But once the …
The presidential candidate of the Peoples Redemption Party (PRP) for the 2027 general election, Donald Duke, has called for a major overhaul of Nigeria’s financial system, saying high interest rates and rising public debt are hurting businesses and economic growth. Duke, a former governor of Cross River State, said the country needed economic reforms focused …
