Funding Rates Mixed on N1.6T Excess Liquidity in Financial System Excess liquidity in the banking system kept funding rates in check even with huge outflows relating to the settlement of…
Seplat Energy Falls by 10% as Investors Exit Positions In a rare move, Seplat Energy Plc. lost 10% of its market value in the equities market as investors exited positions…
Naira Rebounds in Absence of Dollar Shortage in FX Market At the Nigerian Foreign Exchange Market, the naira reclaimed value by 0.29% to close at ₦1,586.15 per US dollar, from…
Sidi Ould Tah of Mauritania elected as AfDB President Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB). Tah was elected…
Naira Depreciates to N1590 as Gross External Reserves Decline The naira depreciated against the US dollar across foreign exchange (FX) markets as data showed that the gross balance in Nigeria’s…
CBN Hikes Interest Rates as OMO Bills Demand Slows The Central Bank of Nigeria (CBN) hiked the interest rates on mid-tenor open market operation (OMO) bills floated at the primary…
Senate Approves N1.8trn 2025 FCT Statutory Appropriation Bill The Senate has approved N1.8trillion for the 2025 Federal Capital Territory Administration (FCTA) Statutory Appropriation Bill. This followed the presentation of the…
FG’s Series VII Sukuk Offer Attracts N2.21trn Subscription The Debt Management Office (DMO) says the recently issued Series VII Sovereign Sukuk valued at N300 billion attracted N2.205 trillion subscription. The…
GCR Upgrades Nigerian Breweries’ Ratings Outlook After two years of net losses, GCR Ratings has affirmed the national scale long-term and short-term issuer ratings of AA (NG) and A1+(NG), respectively,…
EU Inaugurates Strategy to Stop Startups from moving to U.S. The European Commission inaugurated a strategy on Wednesday to promote small businesses and assist them grow in an attempt to…