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Banking, Insurance Stocks Dip Despite Nigerian Market Rally

05.05.2026
The Nigerian equities market sustained its aggressive climb for a fifth consecutive week, though a sharp divergence in sectoral performance left investors navigating a polarised landscape. While the broader market celebrated a massive surge in valuation, the financial services sector struggled to maintain momentum. “Banking and insurance stocks dip despite market rally,” noted the Futureview...
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NNPC Posts N276bn Profit Despite Pipeline Disruptions

05.05.2026
The Nigerian National Petroleum Company Limited recorded a profit after tax of N276bn in March 2026, more than doubling its February earnings, as rising gas production and improved operational efficiency boosted performance despite persistent pipeline disruptions. Details from the company’s latest monthly report published on Monday showed that revenue climbed to N2.77tn in March, representing...
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Wema Bank Recommits to Digital Innovation with ALAT

05.05.2026
Wema Bank Plc has officially restated its commitment to deepening digital engagement and financial inclusion as it celebrates the ninth anniversary of its flagship platform, ALAT. The milestone underscores the bank’s continued drive to enhance user experience and expand access to innovative services through the channel that launched in 2017 as Africa’s first fully digital...
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Polaris Bank & NACCIMA Boost Global Access for Nigerian Firm

05.05.2026
Polaris Bank has facilitated the launch of the NACCIMA Export Support Call Centre, a vital initiative designed to provide comprehensive support to Nigerian exporters, particularly those in the non-oil sector, and enhance their ability to access global markets. The partnership, according to a statement from the bank on Monday, marks a significant step in Polaris...
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Nigerian States’ External Debt Nears $5.7bn Despite FAAC Ris

05.05.2026
Thirty-two states and the Federal Capital Territory’s debt rose to nearly $5.7bn in fresh external loans in 2025, driving a year-on-year surge in subnational foreign debt despite higher inflows from Federation Account Allocation Committee disbursements, an analysis by The PUNCH has shown. Data from the Debt Management Office indicated that the combined external debt stock...
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Femi Otedola Denies Funding Dangote Refinery

05.05.2026
Billionaire businessman, Femi Otedola, has dismissed claims that he financed the Dangote Petroleum Refinery, describing the reports as false and misleading. In a post shared on X on Monday, Otedola said he did not invest in the refinery project, contrary to circulating social media claims. “Reports claiming that Femi Otedola funded the Dangote Petroleum Refinery...
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Stanbic IBTC Wins Top Continental Insurance Award in Africa

05.05.2026
Nigeria’s Stanbic IBTC Insurance Limited has solidified its position as a continental leader in the financial services sector after being named the overall winner of the CRe Momentum Award. The honour was conferred during the inaugural CRe Insurance Awards for Africa 2026, held alongside the Continental Reinsurance CEO Summit in Kigali on 17 April. “Stanbic...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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