Author: Ogochukwu Ndubuisi

EU Reaffirms Solidarity with Nigeria Amidst Trump Invasion Threat The European Union (EU) has reiterated its solidarity with Nigeria, emphasising respect for the nation’s sovereignty and commitment to strengthening cooperation in peacebuilding, interfaith dialogue, and human rights protection. The EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, disclosed this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. Mignot was reacting to the recent comments made by the U.S. President Donald Trump about Nigeria. He said the EU’s position was not influenced by external actors but rooted in its long-standing partnership and shared values with…

Tinubu Seeks Approval to Borrow N1.15trn from Debt Market President Bola Tinubu has sought the approval of Senate for a fresh N1.15 trillion loan from the domestic debt market to finance deficit in the 2025 budget. Tinubu’s request was contained in a letter addressed to President of Senate Godswill Akpabio and read during plenary on Tuesday. According to the letter, the proposed borrowing is aimed at bridging the funding gap and ensuring the full implementation of government programs and projects under the 2025 fiscal plan. Following the reading of the letter, Akpabio referred the request to the Senate Committee on…

China Backs Nigeria, Warns U.S Against Military Invasion China has expressed firm support for Nigeria amid tensions following U.S. criticism of the West African country’s handling of religious issues, declaring opposition to any external interference in Nigeria’s internal affairs. Chinese Foreign Ministry spokesperson Mao Ning said in a statement published on the ministry’s website on Tuesday that China, as a comprehensive strategic partner of Nigeria, supports the Nigerian government’s right to pursue a development path that aligns with its national realities. The statement quoted Mao as speaking at a regular press briefing in Beijing. “As a comprehensive strategic partner of…

Investors Rally Nigerian Bonds after Failed Auction Bids Investors increased Nigerian bond holdings via secondary market transactions after the Debt Management Office (DMO) disappointed yield-seeking asset managers.  The bargain hunting on local bonds papers dragged the benchmark yield on the naira assets in the debt secondary market downward. Fixed income market analysts said investors are increasing bets on Nigerian bonds as they anticipate the monetary authority will axe rate for the last time in 2025. The expectation came after sustained disinflation and firmer local currency, though rate is expected to affects banks net interest margin. Following the buying momentum at…

Meta, NDPC Settle $32.8m Data Privacy Fine Out of Court Meta Platforms, Inc., on Monday, reconciled its differences with the Nigeria Data Protection Commission (NDPC) in the suit it filed to challenge NDPC ‘s $32.8 million fine imposed against it. The NDPC had, on Feb. 18, imposed both a remedial fee of 32,800,000 million US dollars and eight corrective orders against Meta Inc. The company was alleged to have violated the fundamental privacy rights of its Nigerian users with respect to behavioural advertising on Facebook and Instagram. Justice James Omotosho, who gave the judgment after the parties adopted the terms…

15% Petrol Import Tax Requires Strategic Roll Out – LCCI The Lagos Chamber of Commerce and Industry (LCCI) has stressed the need for a measured and strategic rollout of the 15 per cent petroleum import tax to ensure sustainable economic impact. The Director-General, LCCI, Dr Chinyere Almona, gave the advice in a statement on Monday in Lagos. Almona noted the recent decision by the Federal Government to impose a 15 per cent import tax on petrol and diesel, a move aimed at curbing import dependence and promoting local refining capacity. She said while the policy direction aligned with the nation’s…

8 OPEC+ Members to Raise Oil Output by 137,000 bpd The eight members of the OPEC+ group agreed to raise oil production by 137,000 barrels per day (bpd) in December, while pausing further increases from January to March 2026 due to seasonality, according to an OPEC statement on Sunday. The group, comprising Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on Sunday to review global oil market conditions and the outlook. The 137,000-bpd output increase, representing a partial and gradual return of the 1.65 million bpd additional voluntary cuts announced in April 2023, was made…

Presidential Pardon: Trump Denies Knowing Binance Founder CZ US President Donald Trump has sparked controversy after granting a presidential pardon to Binance founder Changpeng “CZ” Zhao, despite claiming he doesn’t know him personally. In a CBS News interview, Trump stated, “I don’t know who he is,” when asked about Zhao’s pardon, adding that he had been told Zhao was a victim of a “witch hunt” by the Biden administration. The pardon, issued on October 23, 2025, lifted restrictions that had barred Zhao from running financial ventures. Zhao had pleaded guilty in 2023 to violating anti-money laundering laws and served a…

Soludo Tells Trump: Nigeria’s Crisis Isn’t Religious Anambra State Governor, Chukwuma Soludo, has responded to US President Donald Trump’s threat of military action in Nigeria, stating that the crisis in the Southeast region is not religiously motivated. According to Soludo, the people involved in the violence in the Southeast bear Christian names, indicating that the issue goes beyond religious categorization. Soludo made this statement during a media chat, emphasizing that Nigeria will overcome its security challenges and that it will ultimately end in conversation. He noted that the Nigerian government needs to respond with facts in a “deeper conversation” and…

Market Rates Ease over Excess Liquidity in Banking System Money market rates declined as a result of surplus liquidity in the financial system.  The interbank market has been flooded with excess liquidity, and local deposit money banks have been having fun with the above-average treasury bill rate on placement at the Central Bank window. CBN liquidity action slowed down, lifted the funding profile in the market, and kept the short-term interest rates behind 25%. Banks’ placements at the standing depot facility averaged ₦2.88 trillion, up from ₦2.02 trillion the previous week, TrustBanc Financial Group Limited said in a note. Hence,…