The Debt Management Office (DMO) of Nigeria has announced that the settlement for N100 billion in bonds is set for Wednesday, June 25, 2025. This follows a successful auction that saw strong investor interest and significant oversubscription. The auction, held on Monday, June 23, featured two bonds, each with a face value of N50 billion….
Global oil prices surged by over 2% after the United States conducted airstrikes on three Iranian nuclear facilities. According to data from Oilprice.com, oil prices soared as trading began on Monday. As of 1:16 AM on Monday, Brent crude was priced at $78.99 per barrel, while West Texas Intermediate futures reached $75.81 per barrel, up…
On Thursday, investors enjoyed a substantial gain of N677 billion as the Nigerian stock market continued its upward trajectory. Market capitalization rose by 0.92%, closing at N74.358 trillion, up from N73.681 trillion the previous day. Market data revealed that the All-Share Index (ASI) increased by 1,074.26 points, or 0.92%, reaching 117,861.13, compared to 116,786.87 on…
Ajibola Olarinoye On Wednesday, the naira experienced its most significant single-day appreciation against the dollar in the official foreign exchange market, continuing a three-day upward trend. According to data from the Central Bank of Nigeria, the naira strengthened to N1,565.46 per dollar, up from N1,579.27 on Tuesday. This represents a notable increase of N13.81 against…
Tony Elumelu, the Chairman of United Bank for Africa (UBA), has expanded his ownership by acquiring shares worth N43.91 billion in the bank over a two-day span. A regulatory filing from UBA’s Group Company Secretary, Bili Odum, revealed that these transactions took place between May 29 and May 30, 2025. During this period, Elumelu purchased…
By Ajibola Olarinoye The African Banker Governor of the Year award has been given to Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN). A statement by the CBN said the event was hosted at the city of Abidjan in Cote d d Ivoire and attended by senior government officials, development finance executives…
Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), emphasized the importance of Nigerian youths engaging with tax issues to better understand their significance for their future. He made these remarks during a Town Hall meeting co-hosted by the Office of the Senior Special Assistant to the President on Citizenship and Leadership (OSSAP-CL) and…
Wilson Erumebor, a senior economist at the Nigerian Economic Summit Group, has stated that Nigeria’s economy is faring worse under President Bola Tinubu than it did under his predecessor, Muhammadu Buhari. He made this assertion during a recent discussion on X space hosted by financial analyst Kalu Aja. Erumebor noted that Nigeria’s gross domestic product…
The Nigerian currency, the naira, experienced a substantial appreciation against the dollar in both the official and parallel foreign exchange markets on a week-to-week basis. Data from the Central Bank of Nigeria, covering the period from May 16 to May 23, 2025, indicated that the naira strengthened to N1,580.44 per dollar, up from N1,598.72. This…
The Central Bank of Nigeria’s Monetary Policy Committee has decided to keep the country’s interest rate at 27.50 percent. During a press briefing on Tuesday following the 300th MPC meeting in Abuja, CBN Governor Olayemi Cardoso announced, “The committee unanimously agreed to maintain the MPR at 27.50 percent.” Cardoso also revealed that the MPC has…
