Author: Ogochukwu Ndubuisi

NGX Market Cap Hits N93.3trn, Equities Investors Gain N497bn The Nigerian Exchange (NGX) market capitalisation added 0.54 per cent or N497 billion, to an opening of N92.798 trillion to close at N93.295 trillion. This is sustaining the bullish performance for 11 consecutive sessions The All-Share Index also gained 0.54 per cent or 793.70 points to close at 146,988.04 points, against 146,204.34 points posted on Thursday. Gains in Dangote Cement, Nem Insurance, Jaiz Bank, FTN Cocoa Processors and 21 other stocks drove the market to positive terrain. Meanwhile, the market breadth closed flat with 25 gainers and 25 losers on the…

Nigeria to Raise US$2.3 bln from Eurobonds in Q4- Note The Nigerian government plans a US$2.3 billion Eurobond issuance before year-end to support budgetary needs and undertake liability management operations, CSL Stockbrokers said in an update. In November, the sovereign Eurobond worth US$1.1 billion is expected to expire, and this may require the government to borrow to settle its international obligation.  According to CSL, the planned issuance would mark Nigeria’s return to the international debt market following the successful US$2.2 billion Eurobond sale last December, which was nearly four times oversubscribed. “This planned issuance aligns with our earlier view that…

Suit Challenging Nigeria’s Proposed Expatriates Tax to Begin Dec. SUIT- Justice Mohammed Umar of the Federal High Court in Abuja has fixed Dec. 1 for hearing in a suit seeking to stop the Federal Government from implementing the proposed expatriates’ taxation regime. The case, which was earlier scheduled for hearing by the new judge, could not proceed due to the ongoing judges’ conference. Although Paul Atayi, lawyer to the plaintiff and the defence counsel were in court, Justice Umar, who was recently reassigned to take over the matter, was absent. The case which was formerly before Justice Inyang Ekwo, is…

Nigeria Launches Digital Badge to Build Trust in Online E-Commerce The Federal Government (FG) has inaugurated a National Digital Trustmark, a platform designed to provide a verifiable certification mechanism and badge of trust for e-commerce and other online platforms nationwide. It was inaugurated during a joint news conference by the National Information Technology Development Agency (NITDA), Corporate Affairs Commission (CAC), the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC). The initiative is expected to curb online frauds, identity theft, scamming, forgery thereby ensuring trust, competitiveness, integrity and reposing confidence in Nigeria online and digital business platforms. Malam…

Customs Intercepts 5 Trucks of Expired Flour From Egypt The Nigeria Customs Service (NCS) Seme Command, on Thursday said it intercepted five trailer loads of expired flour, with a Duty Paid Value (DPV) of ₦1.2 billion, coming from Egypt. Comptroller Wale Adenuga, Controller of Seme Area command of the NCS disclosed this at a news conference in Seme. According to the controller, the trucks contained 10,000 bags of flour, coming from Egypt to Nigeria, and had expired since March 2024. He said intelligence on the flour was leaked to them through the office of Comptroller General of Customs (CGC) Adewale…

Delta Govt. Approves N10bn to Offset Pension Liabilities Delta Government has approved the disbursement of N10 billion to settle pension liabilities arrears from past administrations in the state. The state Commissioner for Works, (Rural Roads) and Public Information, Mr Charles Aniagwu, who briefed press, said the approval was part of the decisions reached at the State Executive Council meeting held at Government House, Asaba on Thursday. He said the meeting was presided over by the Deputy Governor, Sir Monday Onyeme, adding that Gov. Sheriff Oborevwori was on official engagement outside the state. Aniagwu was flanked by his counterparts from Economic…

NGX Swells by N308bn as Industrial, Insurance Stocks Top Rally The Nigerian Exchange (NGX) market capitalisation swelled by about N308 billion as industrial and insurance stocks drive momentum in the local bourse. The local bourse extended its bullish momentum to close today’s trading on a positive note, with key performance indicators up by 0.33%. Sustained bargain hunting drove stock market cap to its tenth successive session of gains, supported by sustained buying interest in medium and large-scale stocks. Specifically, the market index or All-Share Index grew by 484.31 basis points today, to close at 146,203.40 points, representing a 0.33% increase…

Nigeria Cuts Signature Bonus on Oil to $10m, Targets 2.5 mbpd The Nigerian Upstream Regulatory Commission (NUPRC) says the Federal Government has reduced the cost of the signature bonus from about $100 million to $10 million in its bid to achieve oil production of 2.5 million barrels per day by 2027. Signature bonus is a non-refundable, upfront payment made by a company to a government for the right to explore and develop an oil block This was disclosed by Gbenga Komolafe, the Commission’s Chief Executive, at the Nigeria Association of Energy Correspondents (NAEC) Conference 2025 held in Lagos on Thursday.…

Falana Seeks Radical Judicial Reform to Serve Nigerians A Senior Advocate of Nigeria, Mr Femi Falana, has called for radical judicial reform to make justice accessible to ordinary Nigerians. Falana made the call on Wednesday while addressing newsmen, after visiting Gov. Alex Otti of Abia, in Nvosi, Isiala Ngwa South Local Government Area. He criticised the sluggishness of the courts, noting that it significantly hinders the swift dispensation of justice in the country. Falana stressed that while political cases were fast-tracked due to legal deadlines, ordinary civil and criminal matters languish in courts for decades without resolution. He said:”Only their…

Nigerian Treasury bills Yield Falls to 17.69% as CBN Reprices Rates Investors locked in yield at the Nigerian Treasury bills amidst a primary market auction where the Central Bank of Nigeria (CBN) opened N570 billion short-term borrowing instrument for subscription. Reflecting strong market liquidity and the expectation that the authority would slash discount rates, trading activities heated up in the secondary market concurrently while banks and other investors were opening bids for the midweek auction. A slew of fixed income market analysts maintained Nigerian Treasury bills will attract lower rates throughout the fourth quarter on the back of CBN’s dovish…