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.
Nigeria's First Lady, Oluremi Tinubu's advice to women to consider small-scale businesses such as selling akara, roasted corn and kuli-kuli, has continued to generate nationwide reactions. A video of the First Lady posted online showed her urging people to consider such small-scale businesses because they require little capital to start. What began as a simple …
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says Nigeria’s negative perception of government borrowing is undermining economic growth and investment decisions. Speaking in Abuja on Tuesday at the Fellowship Award Ceremony and 2nd Biennial Conference of the Capital Market Academics of Nigeria, Oyedele said public criticism of borrowing often ignores …
The Alliance for Economic Research and Ethics says Nigerian government and business delegations are losing valuable investment and trade opportunities abroad. The think tank group raised the concern in a policy document, 'The Cultural Key: Why Nigerian Businesses and Government Delegations Fail Abroad – And How to Master the Art of Cross-Cultural Commerce', issued over …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that the Senate's proposed ban on textile fabric imports could put the livelihoods of an estimated 10 million Nigerians at risk. The group stressed that the measure would disrupt Nigeria's fashion, garment and furniture industries rather than revive local textile manufacturing. In a statement …
When SpaceX debuted on the Nasdaq in June, the historic listing did more than make Elon Musk the world's first trillionaire on paper. It instantly added more than $2 trillion to the value of companies traded on the Nasdaq exchange and demonstrated how a single corporate giant can reshape a stock market. For Nigeria, the …
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has said that more than 80 per cent of financial crimes in Nigeria are perpetrated through procurement fraud and the use of registered companies. Olukoyede hinted at this while receiving the Board of the Corporate Affairs Commission (CAC), led by its Chairman, …
