Author: Ogochukwu Ndubuisi

Oil Dips as Markets Price in Rate Cut Expectation, Ceasefire Oil dipped in the global commodity market on Friday as market price in the US Fed rate cut expectations, and the latest round of negotiations for a ceasefire between Istreali and Hamas was held in Egypt. The international benchmark Brent crude traded at $77.94 per barrel on Friday, down by around 2.2% relative to the closing price of $79.68 a barrel on Friday last week. West Texas Intermediate (WTI), the American benchmark, traded at $73.83 a barrel at the same time on Friday, a decrease of about 3.7% from last…

The Nigerian Education Loan Fund (NELFUND) has acknowledged the receipt of an additional N50 billion from the Economic and Financial Crimes Commission

Manchester City have completed a deal to re-sign Ilkay Gündogan from Barcelona.

The Economic and Financial Crimes Commission (EFCC) says its operatives have arrested Hyginus Nkwocha, a suspected billionaire internet fraudster, in Abuja.

In the global commodities market, prices of crude oil increased early on Friday on hope that US Fed would cut rate in September as hawkish tendencies eased. 

The Minister of Works, Mr David Umahi, says the Federal Government needs more than N16 trillion to complete inherited road projects nationwide.

Infinity Trust Mortgage Bank (ITMB) Plc, on Thursday announced plans to raise additional N50 billion capital via private placement to help it upgrade to a

President Bola Tinubu has approved a grant N10 billion for the National Broadcasting Commission (NBC) to embark on a transformative journey to achieve the

T-Bill Yield Falls Below 23% as Unmet Bids Boost Demand The average yield on Nigerian Treasury bills receded below 23% due to increased demand for naira assets in the secondary market from 23.10% after the primary market auction on Wednesday. According to fixed income analysts, the latest rally in the Treasury bills market was spurred by unmet bids at the primary market auction conducted during the week. Fund, asset managers move to fill gaps in their respective portfolios, causing yields to swing, with the average yield contracting by 20 basis points to 22.8% on Thursday in the secondary market. Across…

Nigerian Bond Yield Declines by 5 Basis Points to 19.67% The average yield on Nigerian government local bonds declined by 5 basis points (bps) in the secondary market to 19.67% as a result of buying interest in the mid segment. The local FGN bond market showed a positive trend. There was significant activity around the 2033 and 2053 papers. Fixed interest securities investors ramped up these bonds in the market as primary market supply tempers. The Debt Management Office (DMO) slashed the offer size to N190 billion at the latest main auction, from standard maturities. The debt office’s offer to…