Author: Julius Alagbe

GCR Affirms Emzor Pharmaceutical Issuer Ratings of A-/A2 GCR Ratings has affirmed Emzor Pharmaceutical Industries Limited’s national scale long-term and short-term issuer ratings of A-(NG) and A2(NG), respectively. The ratings agency also affirmed the national scale long-term issue rating of A-(NG) accorded to Emzor Pharma Funding SPV Plc’s NGN13.729 billion Series 1 Senior Unsecured Bonds. The outlook on the pharmaceutical company has been revised to Rating Watch Negative from stable, according to rating note released on Tuesday. GCR said the Negative Rating Watch reflects the potential for a liquidity event due to the maturity of its NGN13.729 billion bond maturing…

The Central Bank of Nigeria (CBN) will auction Nigerian Treasury bills for investors’ subscription on Wednesday with an upgraded offer size of N700 billion.

Debt Office Hikes Interest Rates on Reopened Bond by 1.30% The Debt Management Office (DMO) increased the spot rates on Nigerian government bonds by 1.30% at the primary market auction for December, according to results obtained by MarketForces Africa. At the last Federal Government of Nigeria (FGN) bonds auction for 2025 conducted on Monday, the DMO reopened the AUG-2030 and JUN-2032 bonds for investors subscription. The authority offered a total of NGN460.00 billion across 5 years and 7 years reopened papers for subscription. Total demand settled at NGN890.61 billion, translating to a bid-to-offer of 1.9x. The Debt Office eventually allotted…

XRP Plunges by 5% as Bitcoin Drives Cryptos Volatility Ripple (XRP) fell below key support on Monday, losing more than 5% in a 24 hours trading session amid a broad crypto sell-off, liquidations, and bearish technicals. Trading data from crypto exchanges showed XRP at $1.88 on $3.65 billion trading volume, which is an increase of 143.94% on the day. The altcoin fell sharply amidst broader sell pressure in the global crypto market buying momentum continues to fade amidst Bank of Japan rate fears. Market analysts acknowledge that XRP’s drop reflects cryptos’ general sensitivity to Bitcoin (BTCUSD) volatility, leveraged long unwinds,…

NCDMB Oil, Gas Parks Near Completion, Set for 2026 Inauguration The Nigerian Content Development and Monitoring Board (NCDMB) says its Nigerian Oil and Gas Parks Scheme (NOGAPS), established to boost local manufacturing through shared infrastructure and embedded power solutions would be inaugurated in 2026. Dr Abdulmalik Halilu, Director, Corporate Services, NCDMB disclosed this on Monday in Abuja while presenting an overview of the Board’s mandate and achievements at a capacity building workshop for media. NCDMB established the NOGAPS with the primary aim of domiciling and domesticating oil and gas activities in-country by facilitating local manufacturing. The scheme is a key…

Cash Inflow into Federal Account Rises to N23trn in 2025 – RMAFC The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says Nigeria’s Federation Account recorded strong growth of N23.06 trillion within ten months of 2025, up 7.6% from N21.43 trillion on record in 2024. The Chairman of the commission, Dr Mohammed Shehu, disclosed this at a two-day National Stakeholders’ Discourse on “Enhancing Fiscal Efficiency and Revenue Growth Under the Nigeria Tax Act, 2025” on Monday in Abuja. Shehu very that the 2025 performance was an improvement on the N11.93 trillion recorded in 2023 and N21.43 trillion in 2024. He attributed…

Cordros Marks GTCO Top Pick, Cites Superior Earnings Quality Equity analysts at Cordros Securities Limited have made Guaranty Trust Holdings Company (GTCO) their top stock pick for 2026 despite earnings challenges facing the group in 2025. GTCO has seen declining profitability up to the third quarter of 2025 due to cost pressure and lower earnings amidst a tight regulatory environment. In its 2026 outlook, Cordros Securities Limited said the banking sector will enter 2026 in a fundamentally healthier position, following balance-sheet strengthening through the recapitalisation programme. Equities analysts noted that the completion of catch-up provisioning in 2025, and a more…

Eterna Lost 15% of Its Market Value, Investors Take Profit Amidst Forecast Downstream oil and gas company Eterna Plc saw its market value dropping by more than 15% in the local bourse as investors took profit ahead of Q4 earnings and the latest forecast. The sell pressure reflects investors’ negative sentiment about the petroleum retail company earnings outlook amidst a shift in Nigeria’s oil import narrative. Like its other rivals, Eterna faces crude oil importation challenge after Dangote Refinery comes upstream. The operation of a major Refinery from Lagos has affected downstream oil players, causing earnings losses. In the stock…

Excess Liquidity: Banks Stick to Risk-Free Bets to Boost Earnings The short-term benchmark interest rate climbed as deposit money banks (DMBs) continue to party hard in the money market for favourable premiums on risk-free investments. Banks were seen rotating funds across the standing deposit facility (SDF), where they earn 22.50%, increasing bets on One year Nigerian Treasury bills for a 17.95% spot rate and 215 day OMO bills for 19.45%. These money market investment securities, which have become an alternative to growing private sector loans, offer banks the opportunity to grow earnings without taking significant lending risks with deposit money.…

Nigerian Exchange Chairman Hails BUA Group Workforce The Chairman of Nigerian Exchange Group (NGX Group), Dr Umaru Kwairanga, has described the workforce of BUA Group as the driving force behind the conglomerate’s rise. Kwairanga made the remarks at the BUA Group Long Service Awards and Night of Excellence, where employees with decades of service were honoured for their loyalty and dedication. The NGX Chairman, in a statement on Sunday, noted that people, not physical assets, remained the true measure of corporate greatness. He said the ceremony was a powerful reminder that enduring institutions were built by individuals whose daily commitment,…