Author: Julius Alagbe

The overnight lending rate surged while the repo rate remained steady as money market liquidity increased

African Energy Bank to Raise $15bn to Fund Oil, Gas Projects -APPO The Association of Petroleum Producers’ Organisation (APPO) says African Energy Bank (AEB) is being positioned to raise about $15 billion to finance oil and gas projects in the continent of Africa by 2030. APPO said the bank, which would begin operation fully by June in Abuja, was expected to create over 500,000 direct jobs in the local midstream. APPO Secretary-General, Farid Ghezali, disclosed this on Tuesday in his remarks at the official opening of the 2026 edition of the Nigeria International Energy Summit (NIES) at the State House,…

Dangote Cement, Zenith Bank Drive N332bn Gain in Stock Market Boosted by Gains in Dangote Cement, Zenith Bank, and other risers, the Nigerian Exchange (NGX) recorded positive momentum on Tuesday, as the All-Share Index advanced by 0.31% to close at 165,901.57 points. The stock market capitalisation surged to N106.49 trillion as investors’ portfolio value increased by ₦332.49 billion on the back of strong investors sentiment. The market gained due to price appreciation in DANGCEM (+1.42%), and lenders — FIRSTHOLDCO recovered +8.04% from its significant price slump. Other risers include ZENITHBANK (+2.38%), and WEMABANK (+4.18%), which offset declines in INTBREW (-2.45%)…

Naira Climbs to N1372, Spot Rate Touches N1360 Briefly The Nigerian local currency, the naira, appreciated against the US dollar at the official window on Tuesday, closing at N1372 following a significant rally. Demand for US dollar payments undercut supply.  The official spot exchange rate touched an intraday low of N1360 per dollar, closing the trading session at N1367 in the absence of FX liquidity pressure in the local currency market. Some Broadstreet analysts expressed a positive view about the exchange rate outlook, citing rising external reserves and receipts from hydrocarbon sales. The US Dollar index has been weakening globally…

Africa’s Global Bank, United Bank for Africa (UBA), has announced the appointment of Loknath Mishra as Chief Executive Officer of UBA UK.

Money Market Rates Decline as Banks’ SDF Placements Surge The liquidity conditions in the money market improved as deposit money banks (DMBs) lodgments and primary market inflows enhanced the funding profile. The financial system opened the week tight after huge funds sterilisation by the Apex Bank through series of monetary actions. System liquidity moderated last despite inflows of N2.14 trillion from OMO maturities midweek – eventually ended the trading session in deficit. Liquidity conditions tapered as the Central Bank of Nigeria (CBN) intensified its sterilisation efforts through a series of OMO auctions, with N5.89 trillion allotted. The money market record…

Access Holdings Plc has announced the appointment of Ifeyinwa Osime as the board chairman of Access Bank,

The Central Bank of Nigeria has released a comprehensive assessment of Nigeria’s fintech landscape.

Crude Oil Prices Tumble as U.S.-Iran Hold Talks Oil prices tumbled sharply in the global commodity market on Monday as the U.S and Iran held talks, which partially removed the risk premium from crude markets and some profit-taking. International benchmark Brent crude traded at $65.64 per barrel, down 5.8% from the previous close of $69.73. US benchmark West Texas Intermediate (WTI) declined 6% to $61.50 per barrel, compared with $65.46 in the prior session. US President Donald Trump said on Sunday in an interview with Fox News that negotiations were ongoing with Iran over its nuclear program, though he offered…

The Central Bank of Nigeria (CBN) is scheduled to open N1.15 trillion worth of treasury bills for investor subscription on Wednesday