Author: Ogochukwu Ndubuisi

Money Market Rates Fall as N1.5tn FAAC Inflow Boosts Liquidity Reflecting absence of funding pressure, money market rates fell as a huge inflow totalling N1.5 trillion from the Federation Account Allocation Committee (FAAC) bolstered system liquidity. The financial system liquidity remained elevated at the close of the trading session on Friday, with the average net long position rising to N2.05 trillion from N1.88 trillion in the previous week, according to Cordros Capital Limited. FAAC disbursement and coupon payment, among other money market activities, acted as liquidity support in the financial system. Although the CBN absorbed N827.00 billion via an OMO…

Dangote Refinery to Expand Capacity to 1.4m Barrels Daily Africa’s largest refinery, the Dangote Petroleum Refinery, is set for a historic expansion that will increase its production capacity from 650,000 barrels per day (BPD) to 1.4 million BPD within the next three years. When completed, the expansion will make the refinery the largest in the world, marking a major leap toward energy independence for Nigeria and Africa. The President and Chief Executive of Dangote Industries Ltd., Alhaji Aliko Dangote, announced the plan on Sunday in Lagos. According to him, the step reflects faith in Nigeria’s potential. “This expansion reflects our…

Chinese Firms Invest $1.3bn In Nigeria’s Lithium Sector – Alake The Minister of Solid Minerals Development, Dr Dele Alake, says Chinese companies have invested 1.3 billion U.S. dollars in lithium processing in Nigeria. Alake stated this while speaking on the 2025 China Mining Conference with the theme “Connect and Collaborate, Co-Build and Co-Share” in Tianjin. This is contained in a statement by Alake’s Special Assistant on Media, Mr Segun Tomori, on Sunday in Abuja. Tomori said the minister reviewed the Chinese mining business in Nigeria and acknowledged their contributions to lithium processing since the administration of President Bola Tinubu assumed…

Private Sector Rejects Senate Move to Amend NSITF Act The Organised Private Sector of Nigeria (OPSN) has rejected the ongoing amendment to the Nigerian Social Insurance Trust Fund (NSITF) Act, describing it as a threat to transparency and workers’ welfare. The OPSN, comprises, the Manufacturers Association of Nigeria (MAN), the Nigeria Employers’ Consultative Association (NECA), the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Association of Small and Medium Enterprises (NASME) and the Nigeria Association of Small Scale Industrialists (NASSI). In a statement made available to newsmen on Sunday in Abuja, OPSN contended that, the…

Lafarge Africa’s Q3 2025 Performance Fuels Price Surge Lafarge Africa (WAPCO) electrified the Nigerian equities market as its share price rallied by N7.00 to close at N150.45 per share, marking a 5.05% gain on the day’s trading session on the Nigerian Exchange (NGX). This upward momentum followed the release of the company’s Q3 2025 financial results, which showcased a remarkable improvement in earnings, margins, and profitability, significantly outpacing its 2024 performance. A closer look into Lafarge’s Q3 2025 nine-month financial metrics reveals an impressive operational rebound and earnings expansion driven by strong revenue growth and improved cost discipline. Operating Profit…

Aradel Hits 52-Week High, Gains 25% as Investors React to Acquisition The market value of Aradel Holdings Plc increased by more than 25% as oil stock gained investors’ attention amidst a capacity expansion drive.  According to data from the Nigerian Exchange, the company’s share price reached its highest value in 52 weeks in the stock market. Data showed that Aradel traded at N790 as 4.698 million units of the company valued at N3.688 billion were traded on Friday. The oil stock opened at N631 and closed at N790. At the close of trading session on Friday, market value of Aradel…

Access Holdings Profit Falls by 23% to N215.916bn in H1-2025 Access Holdings Plc, a diversified financial services group headquartered in Lagos, saw its profit after tax decline by over 23% year-on-year to N215 billion in the first half of the 2025 financial year, according to audited financial statements. The group’s underwhelming financial performance plunged its return on average equity down by 11% year on year to 11.4%, while return on average assets fell to 1% from 2% in the equivalent period. Access Holdings bottom line was significantly impacted by a steep surge in impairment charges on bad loans and sharp…

Naira Appreciates to N1457.96 as Dollar Supply Remains Healthy Trading strong week on week, the naira climbed to N1457 at the official currency market as sufficient US dollar volume suppressed demand pressure. According to updated daily FX data released by the Central Bank of Nigeria (CBN), the naira appreciated by 0.17% to close at ₦1,457.96/$. The spot rate touched intraday high of N1463, from N1464 the previous day. This mild gain of N1 for intraday high transactions suggests that in spite of high dollar demand, the supply side was more than enough to supress pressure. The spot rate appreciated from…

Oramah Grows Afreximbank’s Assets to $40 billion – Elombi Dr George Elombi, Executive Vice-President (EVP) of Afreximbank, has highlighted the blueprint behind Prof. Benedict Oramah’s decade-long success, which saw the bank’s assets multiply from a mere US$6 billion in 2015 to over US$40 billion. Speaking at a Farewell Conference in honour of departing President Oramah on Friday in Cairo, Elombi attributed this monumental growth to Oramah’s “Portfolio Approach” and a unique blend of foresight and action. He cited a previous observation from the Governor of the Central Bank of Nigeria that Oramah was one of the few global leaders who…

Alleged Fraud: EFCC Witness Fails to Link Emefiele to Zenith Bank Account An Economic and Financial Crimes Commission (EFCC) witness on Friday failed to link Godwin Emefiele to accounts in Zenith Bank in the alleged property fraud case. Emefiele, a former governor of the Central Bank of Nigeria (CBN) is charged with property fraud among others. The property is located at Plot 109, Cadastral Zone C09, Lokogoma District, Federal Capital Territory (FCT), Abuja, measures 150,462.86 SQM and comprises 753 housing units. Emefiele and Eric Ocheme, at large, are also charged with unlawfully keeping in their possession billions of naira in…