Nigeria stands to gain from a stronger and more stable naira, but an excessive appreciation could undermine exports, fiscal revenue, and long-term economic diversification, warns Kazeem Bello, CEO and principal partner of Afrique Capital and Equity Funds Ltd, New York. Bello, a development economist and investment banker, told Pinnacle Daily that Nigerian authorities face a …
Nigeria’s long-standing debate over state policing has gained renewed momentum, as policymakers and security experts intensify discussions on how to decentralise the country’s security architecture to address escalating insecurity across the federation. The proposal, which has been widely discussed for years, now appears to be entering a more active phase under the current administration. President …
Despite expanding its balance sheet and growing customer deposits, Guaranty Trust Holding Company (GTCO) saw its bottom-line profits decline sharply in 2025 compared to the previous year. Pinnacle Daily analysis of the bank's 2025 audited financial statement reveals that GTCO suffered higher tax expenses and a plunge in non-interest income, declining its profit. The bank’s …
When former Kano State governor and leader of the Kwankwasiyya Movement, Senator Rabiu Musa Kwankwaso, formally registered with the African Democratic Congress (ADC) on Monday at Gidan Kwankwasiyya, Miller Road, Bompai, Kano, the scene appeared to many as just another political defection. But behind the crowded ceremony lies a complex web of political calculations, personal …
The Central Bank of Nigeria (CBN) said it has concluded the banking sector recapitalisation programme, announcing that banks raised a total of ₦4.65 trillion. The apex bank said this in a statement issued on Wednesday, April 1, signed by its Director of Banking Supervision, Olubukola Akinwunmi, and Acting Director of Corporate Communications, Hakama Sidi Ali. …
Millions of Nigerian households and businesses are bracing for a potential spike in electricity tariffs as the Federal Government officially increased the price of natural gas supplied to power generation companies (GenCos). The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed on Tuesday, in a public announcement, that the Domestic Base Price (DBP) for …
Nigeria’s total public debt is projected to rise to ₦155.1 trillion following the Senate’s approval of a fresh $6 billion loan request by President Bola Ahmed Tinubu. The approval, granted within hours, adds about ₦8.4 trillion at an exchange rate of ₦1,400 per dollar to the country’s debt stock, which stood at ₦146.69 trillion as …
Nigeria’s economic activity continued to grow in March 2026, showing the 16th consecutive month of expansion. This is according to the latest Purchasing Managers’ Index (PMI) report from the Central Bank of Nigeria (CBN). It shows that the composite PMI stood at 53.2 points, reflecting broad-based growth as 31 of the 36 surveyed subsectors reported …
The African Export-Import Bank (Afreximbank) has announced a landmark financial commitment to the Dangote Petroleum Refinery and Petrochemicals, underwriting $2.5 billion of a new $4 billion senior syndicated term loan facility. The deal, signed Tuesday in Cairo, Egypt, marks one of the largest private-sector financing arrangements in African industrial history. According to a statement, Afreximbank …
The Naira remained stable against the United States Dollar on March 31, 2026, closing the first quarter on a steady note despite pressures on Nigeria’s external reserves. At the Nigerian Foreign Exchange Market, the Naira opened at ₦1,385.60 per Dollar and strengthened slightly to ₦1,383.37 by mid-morning. The movement reflects modest gains as the currency …
