Author: Ogochukwu Ndubuisi

Nigeria’s headline inflation rate increased to 15.38% year on year, according to consumer price index data released by the national statistics office on Wednesday.

Tosin Eniolorunda, ALX Host Masterclass for Women Entrepreneurs Tosin Eniolorunda, Group CEO of Moniepoint Inc., has delivered on a commitment to deepen financial literacy among women business owners in Nigeria. In partnership with ALX, Eniolorunda hosted a four-hour virtual Entrepreneurship Masterclass bringing together 100 female business owners for a hands-on session designed to move them from petty trading to building valuable enterprises. The masterclass was structured around three practical modules: The Model, The Money, and The Plan with each session facilitated by a subject matter expert and anchored in live, guided exercises rather than passive instruction. Participants also completed a…

Financial System Liquidity Surges 19% on OMO Bill Inflow The financial system’s liquidity increased by about 19% following a large OMO bill repayment, amid a slowdown in banks’ deposits at the Central Bank window. Broadstreet analysts reported excess liquidity in the banking system advanced on Tuesday, prompting the Apex Bank to float an OMO auction. Market reports from Meristem Securities Limited indicate that system liquidity increased by 18.90% to NGN5.91 trillion, primarily driven by an OMO repayment of N1.34 trillion, alongside an 18.98% increase in the opening balance. This inflow was more than offset by the 8.06% decline in banks’…

The World Bank Group, through its private-sector arm the International Finance Corporation (IFC), and Citi have signed a new 1.6 billion South African rand borrowing facility that will expand IFC’s ability to provide local currency (LC) financing in South Africa.

CBN Approves N2.2trn OMO Bills Allotment to Investors The Central Bank of Nigeria (CBN) raised N2.2 trillion from OMO bill sales to investors as part of efforts to reduce excess liquidity in the financial system and refinance maturing papers. System liquidity opened the week in a strong surplus position of ₦4.97 trillion, reflecting a ₦181.77 million increase supported by inflows from repayments and placements at the CBN’s standing deposit, lending facilities, investment firm AIICO Capital said in a note. On Tuesday, the CBN conducted an open market operation in which N600 billion worth of OMO bills were offered for subscription,…

Nigerian Exchange Tops N132trn as ETI, Stanbic IBTC Rally The Nigerian Exchange (NGX) market capitalisation surpassed N132 trillion as Ecobank Transnational Incorporation (ETI), Stanbic IBTC led today’s rally. The Nigerian equities market ended Tuesday on a bullish note, with the All-Share Index (ASI) rising by 0.66% to close at 205,831.38 points, bringing the year-to-date return to 32.27%. In line with the benchmark’s performance, market capitalisation also grew by 0.66%, gaining ₦865 billion to settle at ₦132.49 trillion. Investor sentiment remained largely positive, as market breadth closed with 40 gainers against 21 decliners. On the gainers’ chart, ETI, STANBIC, NGXGROUP, CORNERST,…

Naira Surges to N1,356 as NFEM Interbank Turnover Climbs The Nigerian local currency, the naira, surged to N1,356 per dollar as interbank turnover and total currency bought and sold at the official window increased. The official FX data published today by the Central Bank of Nigeria (CBN) revealed that intraday transactions were consummated between N1354.5000 and N1362.5000, reflecting increased FX liquidity. Interbank turnover surged to N114.887 million across 141 deals, up from N71.156 million on Friday. Last week, the Naira strengthened across both official and parallel market segments. At the official window, the currency appreciated by 1.76% or N23.90 to…

Energia Ltd., an independent oil and gas company, has appointed Mr Oladimeji Bashorun as its Chief Executive Officer (CEO), following the exit of Mr Chidi Egonu.

XRP Price Rises as US Senate Resumes Clarity Act Talks Ripple (XRP) price climbed to $1.34 over 24h as the US Senate set to resume Digital Asset Market Clarity Act talks, boosting investor optimism in the cryptocurrency market on Monday. The slight positive price movement was driven by a modest macro-driven market lift amid ongoing geopolitical tensions. XRP trading is down 13% to $1.8 billion, while its market cap has topped $82 billion. The gain mirrors Bitcoin’s swing, indicating the price surge was driven by broader market sentiment rather than XRP-specific news. The ongoing geopolitical tensions over the U.S. blockade…

Zichis Agro-Allied Industries Plc has distanced itself from media reports suggesting that the Company is set to undertake an Initial Public Offering (IPO) or related capital raising activity.