Author: Julius Alagbe

Equity Investors Gain N1.67trn over Strong Year-End Rally Equity investors trading highs and lows in the Nigerian Exchange (NGX) gained N1.67 trillion as the year-end rally gained momentum with interest across sectoral names.  Stockbrokers reported that risk appetite dominated the Nigerian equities market as broad-based buying interest swept across blue-chip names, large caps and fundamentally sound stocks ahead of the Christmas holiday. The familiar year-end calendar effect and window-dressing activities came through strongly, Cowry Asset Management Limited said in a note, reinforcing bullish sentiment and pushing several stocks to fresh 52-week highs. The benchmark index or the All-share index climbed…

Heirs Energies Seals $750m Financing Deal with Afreximbank Heirs Energies Ltd., has sealed a 750 million dollar financing agreement with the African Export-Import Bank (Afreximbank). The agreement was signed by Mr Tony Elumelu, the Chairman of Heirs Holdings and Dr George Elombi, the President and Chairman of the Board of Directors, Afreximbank, in Abuja on Saturday. It aims to boost the company’s drive for energy efficiency. Elumelu described the agreement as a clear manifestation of Africa’s capital working for African businesses. He commended Afreximbank for supporting the growth of African businesses, describing it as the most impactful and catalytic financial…

Tinubu Threatens to Intervene in Implementing Local Govt. Autonomy President Bola Tinubu warns that he will intervene if governors refuse to comply with the Supreme Court judgement on Local Government autonomy. Tinubu issued the warning on Friday night while addressing the 15th National Executive Committee (NEC) meeting of the All Progressives Congress (APC), held at the Banquet Hall of the Presidential Villa in Abuja. He stressed that the Supreme Court remained the nation’s highest legal authority and insisted that governors must comply with and respect its judgment on local government autonomy. ”The Supreme Court has carved it for you; it…

ZECUSD Explodes with 14.5% Gain in Crypto Market Zcash (ZECUSD) price teleported, rising by 14.5% in 24 hours of trading in the cryptocurrency market on Friday, reflecting investors’ positive sentiment.  The coin, a decentralised cryptocurrency which focused on privacy and anonymity, surged to $444.26k on Friday as investors’ appetite got enlarged, riding on regulatory tailwinds and technical upgrades to a 14% daily surge. The rally turned fast and furious after U.S. regulators signalled openness to Blockchain privacy solutions. ZEC surged despite broader market weakness, becoming Coinbase’s most-searched asset, attracting 52K queries vs Bitcoin’s 41K. The coin beat the crypto market…

Federal Exec. Council Approves N58.47trn 2026 Budget proposal The Federal Executive Council (FEC), on Friday approved N58.47 trillion budget proposal for the 2026 fiscal year. Mr Tanimu Yakubu, the Director-General, Budget Office of the Federation, made this known while briefing newsmen after the FEC meeting, held at the Presidential Villa, Abuja. The 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) reviewed, the total size of the budget is N54.46 trillion, of which N34.33 trillion is the retained revenue. Mr Yakubu explained that the aggregate expenditure for 2026 budget proposal is six per cent higher than the 2025 budget…

CSCS Names Shehu Shantali Chief Executive Officer The Central Securities Clearing System Plc (CSCS) has appointed Mr Shehu Shantali as its new Chief Executive Officer (CEO), effective Jan. 1, 2026, following the receipt of regulatory no-objection. The company said in a statement on Friday that Shantali would succeed Mr Haruna Jalo-Waziri, who is stepping down after eight years marked by strategic growth and significant contributions to Nigeria’s capital market infrastructure. Commenting on the appointment, Chairman of the Board, Mr Temi Popoola, said, “On behalf of the Board, I would like to express our profound appreciation to Haruna Jalo-Waziri for his…

Bitcoin, Ethereum Rally Boosts Crypto Market Cap to $3trn Bitcoin (BTCUSD) and Ethereum (ETHUSD) rallies have lifted global cryptocurrency market capitalisation to $3 trillion on Friday, with the two top digital assets trading in green on improved sentiment. Trading data showed Bitcoin is trading above $88k, up from $85k level on Thursday amidst fluctuation in trading volume. Ethereum is trading above $2,900, though it is struggling to keep at $3000, fluctuation has been slowed albeit. Bitcoin navigates regulatory crackdowns, exchange incentives, and quantum threats while bulls and bears clash on price trajectory. Supporting the uptrend, a new US bill proposes…

Nigerian Treasury Bills Rally after Spot Rates Repricing The Nigerian Treasury bills rallied in the secondary market after the Central Bank of Nigeria (CBN) spot rates adjustments for 91- and 182-day maturities at the primary market auction on Wednesday. The lost bids at the main auction conducted on Wednesday filtered into the secondary market on Thursday as investors sought to boost their portfolios. The market recorded strong interest in the new 1-year (17-Dec-26) bill, which traded as low as 16.90% – 61 bps below the stop rate – during the day before ending at 16.95/16.80; bullish momentum began early in…

DFC Announces Fully Operational U.S.-Ukraine Reconstruction Investment Fund The U.S. International Development Finance Corporation (DFC) today held its second U.S.-Ukraine Reconstruction Investment Fund Board of Directors meeting.  At the meeting, it was announced that the Fund is fully operational and poised to start diligencing its first investments in 2026.  “Activating a fund of this size and complexity in less than a year is a testament to the tireless dedication of DFC’s worldclass professionals and our excellent partners in the Government of Ukraine, the U.S. Treasury, and the Department of State. “Today’s news is clear: The U.S. and Ukraine are ready…

China Demands U.S. to Halt $11bn Arms Sale to Taiwan China on Thursday called on the United States to halt its planned weapons sales worth some U.S. 11.1 billion dollars to Taiwan. Washington announced on Wednesday that it had approved the massive arms package to help boost the island’s defence capability, prompting a strong response from Beijing. The planned arms sale violates the “One China” policy and undermines peace and stability in the Taiwan Strait, a spokesman for the Chinese Foreign Ministry said. Beijing called on Washington to stop the arms deliveries and vowed countermeasures. China considers the island state,…