Author: Ogochukwu Ndubuisi
ogochi Ndubuisi is creative content manager with interest in marketing and advertisement. Ogochi supports MarketForces Africa's clients corporate communication units with content development and liaise with media unit for disseminable product information.
Court Orders Arrest of Tanimu Turaki, PDP Factional National Chairman An Abuja High Court on Thursday issued a bench warrant for the arrest of the factional National Chairman of the Peoples Democratic Party (PDP), Sen Tanimu Turaki, SAN. Justice Peter Kekemeke issued the warrant, after Turaki failed to attend court for his arraignment. The Inspector-General of Police (IGP) charged Turaki with giving false information to the police. When the case was called, the prosecution counsel, Usman Rabiu said the business of the court for the day was for Turaki to enter his plea. Rabiu noted that the defendant was absent…
Equity Investors Post Gain as Nigerian Exchange Index Surges Equity investors posted additional gains on Thursday as the Nigerian Exchange (NGX) closed the session on a positive note, buoyed by key performance indicators rising by 0.02%. Though decliners outnumbered advancers, the market’s slight upturn highlighted positive sentiment. The market recorded sustained bargain hunting in selected medium- and large-cap stocks across key sectors. Consequently, the All-Share Index added 32.14 basis points to close at 200,957.89. Likewise, market capitalisation gained ₦20.63 billion to close at ₦129 trillion. Additionally, market activity was up today, with total trade volume and total value traded increasing…
Naira Falls at Informal FX Segment over Dollar Shortage The naira weakened against the US dollar, trading at N1,420 per dollar in the informal foreign exchange market as of Thursday. Over the past 24 hours, the local currency has lost N5, underscoring a significant dollar shortage and escalating demand for foreign payments. Leading Bureau de Change operators are quoting the exchange rate at N1,420, with some even demanding up to N1,425 in Lagos and Abuja. This clear upward trend is driven by constrained dollar supply. The Central Bank of Nigeria (CBN) has deliberately scaled back its foreign exchange interventions since…
Guterres Calls for Immediate Release of Detained 118 UN Staff UN Secretary-General António Guterres has called for the immediate release of the 118 UN staff currently detained worldwide. Guterres, in a statement marking the International Day of Solidarity with Detained and Missing Staff Members, said attacks against the UN increased with 179 personnel arrested or detained in 2025 alone. The figure marks a significant increase from the 52 UN staff in detention in March 2025. In Yemen alone, 73 UN staff remain detained by the de facto Houthi authorities, including eight from the UN’s human rights office. The UN chief…
NUPRC, SeaSeis Seal Landmark PEL5 Agreement The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No 5 agreement with SeaSeisGeophysical Limited (SeaSeis), to boost Nigeria’s offshore exploration. The agreement authorises the company, in partnership with the commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data. The official execution of the agreement between SeaSeisGeophysical Limited and its partner, TGS, was held at the commission’s headquarters in Abuja. The three-year agreement empowers the partnership to issue data-use licences, with revenues to be shared between the company and the commission. The…
AfCFTA Names Nigeria Pilot Country for Simplified Trade Regime Implementation The African Continental Free Trade Area (AfCFTA) Secretariat has selected Nigeria as the pilot country for the implementation of the Simplified Trade Regime (STR) in West Africa to support small-scale cross-border trade. A delegation from AfCFTA secretariat led by Pedro Estevao, made this known during an engagement with the Nigeria Customs Service (NCS) to advance the implementation of the STR at its headquarters recently in Abuja. The NCS`s Spokesperson, Abdullahi Maiwada, disclosed this in a statement on Wednesday in Abuja. According to Maiwada, Estevao notes that, as the largest market…
Nigeria Cuts Time Taken to Approve Oil Wells Application Nigeria’s oil regulator has cut the time taken (TT) to approve applications to revive idle oil wells from weeks to hours, as Africa’s top crude producer seeks to capitalise on high energy prices. The Nigerian Upstream Petroleum Regulatory Commission is approving permits within hours of applications, according to a Bloomberg report citing people familiar with the process. With oil trading near $100 a barrel, Africa’s top producers are moving to capitalise on demand as buyers turn to suppliers such as Nigeria and Angola, away from the Middle East conflict. The West…
MTN, GTCO Drive NGX Rally, Market Cap Surges Near N129trn The Nigerian Exchange (NGX) market capitalisation expanded to about N129 trillion on Wednesday, with large-cap stocks: MTN Nigeria, GTCO, gaining momentum. The market closed trading activities for today on a positive note, as key market performance indicators both appreciated by 0.11%. Stockbrokers said the uptick indicated continued buying interest in selective medium- and large-cap stocks, including MTNN (2.41%) and GTCO (3.2%), across major market sectors. Specifically, the market index added 219.87 basis points to close at 200,925.75. Likewise, market capitalisation increased by ₦141.14 billion, or 0.11%, to ₦128.98 trillion. Total…
Oil Falls Below $100 after Trump’s Comments on U.S.-Iran Talks Oil prices fell back below the key 100 dollars per barrel mark after U.S. President Donald Trump said Iran was willing to negotiate, easing market concerns over supply disruptions. Brent crude for May delivery slipped just under 100 dollars a barrel following Trump’s remarks, dropping around 4 prt cent within minutes. Prices had surged in recent weeks in the ongoing conflict with Iran, briefly approaching 120 dollars a barrel. Before the conflict began, Brent had traded between 60 dollars and 70 dollars for several months. The rise in oil prices…
Iran Sends Waves of Missiles into Israel, Dismisses Trump’s Talk of Negotiations as ‘Fake News’ Iran launched multiple waves of missiles at Israel, the Israeli military said, after U.S. President Donald Trump postponed a threat to bomb the Islamic Republic’s power grid because of what he described as productive talks with Iranian officials. The missiles triggered air raid sirens in parts of Israel, including Tel Aviv where blasts from interceptions were heard. In one attack, homes in northern Israel were damaged by falling debris following an interception. U.S. and Iran had held “very good and productive” conversations about a “complete…