Author: Ogochukwu Ndubuisi

Interbank Rates Surge as DMBs Activities Squeeze Liquidity Interbank rates surged as deposit money banks’ (DMBS) activities squeezed liquidity level in the financial system, according to market reports. The funding level declined on Tuesday in the absence of additional inflows from maturing instruments; hence, there was zero primary market auction on Wednesday. System liquidity pulled back moderately by ₦151.1 billion, AIICO Capital Limited said in a note, from ₦313.9 billion in the prior session. Analysts explained that the decline in liquidity in the financial system was driven by a ₦72.5 billion drop in DMBs’ placements at the Central Bank of…

Gavi Pledges $3m to Boost Immunisation in Kaduna Gavi, the Vaccine Alliance, has announced a three million dollars investment over the next two years to strengthen routine immunisation and primary health care in Kaduna State. This is expected to accelerate progress towards universal vaccine coverage. Jessica Crawford, Gavi Senior Country Manager for Nigeria, disclosed this during a high-level field mission to the state. The visit included engagements with top state officials, health facility tours, and strategy meetings with partners. Crawford said Kaduna has shown strong leadership, coordination, and results in immunisation. She emphasised that the funding would help build on…

FG, Firms Set to Construct $60bn Speed Rail in Nigeria The Federal Government, De-Sadel Nigeria Ltd. and China Liancai Petroleum Investment Holdings Limited are set to commence construction of a 4000km high speed rail across six states of the federation. This was disclosed during the presentation of the $60 billion proof-of-funds to Secretary to the Government of the Federation (SGF), Sen. George Akume, by the two firms in Abuja on Tuesday. The occasion was attended by the Minister of Transportation, Mr Sa’idu Alkali and the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo as well as representative of…

Wale Edun Commends Lotus Capitals’s Leadership in Non-Interest Finance The Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has commended Lotus Capital’s leadership in promoting non-interest finance in Nigeria, emphasising that collaboration between the public and private sectors will be essential to mobilising sustainable, long-term capital for national development. The Minister gave the commendation today in his office in Abuja when he received a high-level delegation from Lotus Capital Limited, led by its Managing Director Mrs. Hajara Adeola The meeting explores ways of expanding Nigeria’s non-interest finance sector as a driver of inclusive economic growth.…

Dangote Refinery Slashes Petrol Price by N30 Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N30.00, from N850 to N820 per litre, effective from 12th August 2025. As part of our unwavering commitment to national development, Dangote Petroleum Refinery assures the public of a consistent and uninterrupted supply of petroleum products. In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution across Nigeria, effective August…

FG Disburses N5.12bn Pension Arrears to 90,689 DBS Pensioners The Federal Government assurance to clear outstanding pension liabilities as funds are disbursed N5.12 billion pension Arrears to 90,689 Defined Benefit Scheme (DBS) pensioners under Pension Transitional Arrangement Directorate (PTAD). This is contained in a statement issued on Monday in Abuja by Mr Olugbenga Ajayi, Head of Corporate Communications of PTAD. He said that the directorate had finalised the disbursement of the money. Ajayi said that the 90,689 pensioners across the four pension departments, reaffirms its dedication and commitment to pensioners welfare. The Nigeria Customs Service, the Nigeria Immigration Service and…

FIRS Begins E-Invoicing, Electronic Fiscal System for Large Taxpayers The Federal Inland Revenue Service (FIRS) has launched a new electronic invoicing solution to transform how businesses pay taxes in Nigeria, a move that will make tax compliance faster, easier, and more transparent. The Executive-Chairman, FIRS, Dr Zacch Adedeji, disclosed this in a statement by Dare Adekanmbi, his Special Adviser on Media in Abuja on Sunday. Adedeji said that the e-invoicing solution went live on Aug. 1, following a successful pilot phase which began in November 2024. Adedeji said that large taxpayers, which are companies with annual turnover of five billion…

Ethereum, Dogecoin, XRP Post Top Weekly Gains Ethereum, Dogecoin, and Ripple (XRP-USD) experienced strong price upticks in the cryptocurrency market. The cryptocurrencies delivered impressive weekly gains to investors and were still maintaining their price uptrends at the time of writing. According to data from coinmarketcap.com, Ethereum is trading at $4,238, up by 21.53% over the last seven trading sessions. ETHUSD has successfully broken the resistance and is set for a further uptrend. XRP is trading at $3.19, up by 10.27% in seven trading sessions as investors increased bets on the digital asset. The market anticipates XRPUSD will surge to $4…

I’ll Defeat Tinubu in 2027 If Given ADC Ticket – Rotimi Amaechi Former Minister of Transportation, Chibuike Rotimi Amaechi, has thrown his hat into the ring for the 2027 presidential election, declaring his confidence in defeating President Bola Tinubu if he secures the African Democratic Congress (ADC) ticket. Amaechi, a former Governor of Rivers State, made this declaration during a live conversation on X Spaces, citing his knowledge of Tinubu’s strengths and weaknesses as a key factor in his potential victory. Amaechi emphasized his clean track record, challenging any politician to provide evidence of his involvement in election rigging. He…

Nigeria Non-Oil Exports Hit $3.225bn in Half-Year 2025 – NEPC DG Nigerian Export Promotion Council (NEPC) has announced that the country’s non-oil exported products in the half-year of 2025 were valued at 3.225 billion dollars. Director-General of the council, Mrs Nonye Ayeni, disclosed this to newsmen while presenting a report on the first half of 2025 Non-Oil Export Performance, in Abuja on Sunday. Ayeni said that the report was aimed at providing a comprehensive overview of the council’s achievements, challenges and prospects. “I am pleased to inform you that non-oil products exported in the first half of 2025 were valued…