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With a slight decline in the overnight lending rate, excess liquidity in the banking system increased to nearly N9 trillion as financial institutions continue to park funds at the Apex Bank Standing Deposit Facility (SDF).
The average yield on Nigerian OMO bills climbed to 21.1% in the secondary market, reflecting investors’ measured decisions to adjust their holdings in these short-term investment securities.
Cryptocurrency
Bitcoin price is down 5.60% to $65,703.72 over the past 24h, underperforming a broadly lower market amid escalating geopolitical tensions in the Middle East.
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SoftBank Raises $40bn Loan to Fund OpenAI Investment SoftBank has just secured a US$40 billion loan to support its investment in OpenAI, the creator of ChatGPT. This move underscores its commitment to advancing artificial intelligence amid intensifying global competition. In…
Politics
Tinubu Resolute to Reform, Strengthen Power Sector – Shettima Vice-President Kashim Shettima has reiterated the determination of President Bola Tinubu’s administration to reform and strengthen the nation’s power sector. Shettima spoke on Thursday in Abuja during the inauguration…
Tinubu Resolute to Reform, Strengthen Power Sector – Shettima Vice-President Kashim Shettima has reiterated the determination…
ADC Faults Senate’s Rejection of e-Transmission of Results African Democratic Congress (ADC) has faulted the refusal…
The Minister of State for Finance, Doris Anite-Uzoka, on Thursday announced plans to begin payments for the 2024 and 2025 capital budgets to ministries, departments, and agencies (MDAs).
Financial Product
The average yield on Nigerian Treasury bills surged to 17.71% in the secondary market amid selloffs following a slowdown in the nation’s headline inflation rate in February 2026.
Inside Africa
Fitch Affirms Tanzania at ‘B+’ with Stable Outlook Fitch Ratings has affirmed Tanzania’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘B+’ with a stable outlook. Tanzania’s rating reflects its relatively strong real GDP growth and low inflation, underpinned by…
Ghana Ratings Affirmed At ‘B-/B’; Outlook Remains Stable -S&P S&P Global Ratings has affirmed its ‘B-/B’…
African sovereign borrowers are poised to benefit from a weaker U.S. dollar, which alleviates imported inflation and lessens the local-currency burden of external debt, according to a non-rating commentary note from S&P.
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China Warns Against Potential U.S. Ammunition Production in Philippines China on Thursday cautioned the United States (U.S.) and its allies against introducing bloc confrontation…
China Urges U.S. to Honor Nuclear Disarmament Responsibilities China’s Ministry of National Defence on Thursday dismissed recent United States (U.S.) allegations of nuclear testing…
$39 Trillion US Debt Timebomb No One is Talking About Soaring US national debt – more than $39 trillion and growing – is the…
Fitch Places Arada on Rating Watch Negative Fitch Ratings has placed Arada Developments LLC’s Long-Term Issuer Default Rating (IDR) of ‘B+’ and its senior…
