Author: Ogochukwu Ndubuisi

ISA will Stimulate Economic Growth – SEC The Securities and Exchange Commission (SEC) says the Investments and Securities Act (ISA) 2025 will be a game changer in the nation’s capital market with the potential to stimulate economic growth. The Director-General of SEC, Dr Emomotimi Agama, said this in a statement made available to the News men on Thursday in Abuja. Agama said the new law would provide the commission with the opportunity to retain its signatory A status with the International Organisation of Securities Commission. Agama described the law as significant which would allow other countries to benchmark the Nigerian…

EU to Diversify Defence Industry After U.S. Tariffs EU foreign policy chief Kaja Kallas on Thursday called for less reliance on the U.S. for defence procurement following announcement of sweeping punitive tariffs by U.S. President Donald Trump. Trump had on Wednesday announced blanket tariffs of at least 10 per cent on all goods imported into the U.S. and higher levies for some countries. The EU faces tolls of 20 per cent on its goods. Asked on the sidelines of an informal meeting of EU defence ministers in Warsaw whether a trade war with the U.S. would affect defence cooperation, Kallas…

Rivers State Cancels all Pending Procurement, Tender Processes The Rivers State Government has on Thursday cancelled all pending procurement and tender processes in compliance with the Supreme Court judgement. The Sole Administrator, Vice Admiral (Rtd) Ibok-Ete Ibas, made the remark in a special announcement, signed and issued by Prof Ibibia Worika, the Secretary to the State Government (SSG) in Port Harcourt. He said that the cancellation was in adherence to the Supreme Court judgement which upheld the Appeal Court ruling in Suit No. CA/ABJ/CV/133/2024. Ibas stated that the cancellation affected all procurement and tender processes carried out by MDAs during…

Gold Hits New All-Time High amid Tariff Policy Shock Gold prices have just set a new all-time high at $3,167/oz, currently holding steady around $3,148/oz, as global financial markets absorb a major policy shock from the United States. The primary driver behind gold’s sharp rally stems from the Trump administration’s official activation of additional tariffs on a wide range of imported goods from major economies, including China, India, Vietnam, Brazil, and several European countries. This move is widely seen as the beginning of a new phase of global trade restructuring — a development that has made investors across the world…

NNPC Listing: Global Capital to Exceed $60bn Goal –Stockbroker A stockbroker, Mr David Adonri, says the anticipated listing of the Nigerian National Petroleum Company (NNPC Ltd.) on the Nigerian Exchange Ltd. (NGX) will unlock global capital and enable it to surpass President Tinubu’s 60 billion dollars investment goal by 2030, President Bola Tinubu, upon reconstituting the leadership of the company, tasked it to increase the company’s investment base to 30 billion dollars by 2027 and 60 billion dollars by 2030. Adonri, in an interview with the News Agency of Nigeria (NAN) on Wednesday, said that the listing would provide NNPC…

Rates Stabilise as Financial System Liquidity Hits N1.5trn Interbank rates steadied as liquidity level in the financial system surged to N1.5 trillion following huge inflows from matured OMO bills at midweek. The market closed with strong net position, reversing recent past trend following influx of inflows from FAAC, NLNG and matured Treasury bills last week. The strong amount available for local deposit money banks reduced their persistent borrowing from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) at steep rates. Also, cash rich lenders are unable to demand for higher rates with more funds finding its way into…

NNPC Ltd. Welcomes New GCEO, Board The Management of the Nigeria National Petroleum Company Limited (NNPC Ltd.) has welcomed the appointment of its new Group Chief Executive Officer (GCEO) Mr Bayo Ojulari, and Board of Directors by President Bola Tinubu. Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., in a statement on Wednesday appreciated the outgoing GCEO, Mr Mele Kyari, and the former Board Members for their selfless and dedicated service to the company and nation. President Bola Tinubu on Wednesday approved a reconstitution of the NNPC Ltd. board, removing the chairman, Chief Pius Akinyelure and the GCEO Malam…

Oil Prices Decline as Reciprocal Tariff Keeps Markets on Edge In the global commodities market, the prices of crude oil declined on Wednesday U.S reciprocal tariff, and rising stockpile keep the market on edge. Today, US President Donald Trump will announce reciprocal tariffs, while data revealed increasing US crude inventories. Brent crude, decreased by around 0.4% trading at $74.02 per barrel, down from $74.30 at the previous session’s close. The US benchmark, West Texas Intermediate (WTI) fell by about 0.4%, settling at $70.66 per barrel, compared to its prior session close of $70.93. President Trump is expected to announce reciprocal…

Cryptos Market Cap Rises to $2.75T as Bitcoin Tops $85K Global cryptocurrency market capitalisation climbed to $2.75 trillion on Tuesday as Bitcoin topped $85,000 amidst price volatility stoked by U.S recession fear and weak investors’ sentiment. According to data from the CoinMarketCap.com, the global crypto market cap hovering around $2.75 trillion, a 3.27% increase over the last day. Bitcoin, Ethereum and other top digital assets experience moderate rally amidst global economic uncertainties, and trade war. The total crypto market volume over the last 24 hours reached $77.43 billion, which makes a 5.23% decrease. Data showed that total volume in DeFi…

FG Urges IOCs to Increase Investments The Federal Government has urged International Oil Companies (IOCs) in Nigeria to increase investments in the oil and gas sector, highlighting the country’s investment-friendly fiscal policies and incentivised investment opportunities. Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), made the call at the Cross Industry Group (CIG) Meeting held in Florence, Italy, organised by IOCs operating in Nigeria. The meeting focused on challenges, expectations, and strategies to enhance the sector’s contributions to domestic energy needs and regional expansion across Sub-Saharan Africa. Lokpobiri, in a statement by his Special Adviser on Media and…