Author: Ogochukwu Ndubuisi

Market value of Lafarge Africa Plc.’s 16.107 outstanding shares climbed by 8.52% to N3.756 trillion in the Nigerian Exchange on Friday, its highest in 52 weeks.

Tomato Farmers Predict Steady Price Hike From May The Tomatoes Growers and Processors Association of Nigeria (TOPAN) has predicted a steady increase in the price of the produce between May and June 2026. The Kaduna State Chairman TOPAN, Mr Rabiu Zuntu, disclosed this in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos. Zuntu noted that although there is no particular time for tomatoes planting season up north, seasonal weather variations can affect the production of the produce. “Although we can plant tomatoes all-year-round, we cannot assure quality harvest all-year-round. “Some farmers are harvesting now, while…

Money Market Rates Steady Amidst Heavy Liquidity Money market rates were steady amid heavy liquidity in the financial system, reflecting the absence of significant funding pressure. The financial system was debited for the Nigerian Treasury bills auction conducted on Wednesday, and the Central Bank practically ignored the excess funding level, with no open market operations. Market analysts said funding costs remained stable, with both the Overnight rate and the Open Repo rate holding firm at 22.31% and 22.00% respectively. According to AIICO Capital Limited, liquidity in the banking system opened Thursday on a surplus note of ₦6.62 trillion, but ₦472.25…

In a fresh price retracement, Ripple (XRP) dipped 3.45% to $1.33 over the past 24 hours, underperforming a slightly weaker broader market, primarily driven by persistent selling pressure and a rejection at key resistance.

Liquidity Eases as Banks Placement at CBN Window Drops by 25% Deposit money banks (DMBs) placement at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) window declined by about 25%, according to money market reports reviewed by MarketForces Africa. However, the financial system remains sufficiently liquid in the absence of an open market operation, though midweek Treasury bill auction settlement is anticipated to reduce the flow. In separate market updates, investment firms said the financial system liquidity opened the week in a strong surplus position of ₦6.16 trillion, reflecting a ₦706.69 billion increase from the previous week’s close.…

The UK Financial Conduct Authority (FCA) said it has imposed restrictions on Bazar Money Transfer’s operations for failing to meet registration requirements.

The Nigerian National Petroleum Company (NNPC) Limited has commenced export of its new crude grade – Cawthorne, marking a significant milestone in the Company’s drive to increase Nigeria’s crude oil production and expand its portfolio of globally competitive export streams.

The NPA disclosed this in its Daily Shipping on Wednesday in Lagos. According to the bulletin, the vessels are expected between April 8 and April 14. The authority said 24 of the ships would carry containers loaded with various goods.

U.S., Iran Agree 2-Week Ceasefire, Hormuz Passage to Resume Iran has confirmed a two-week ceasefire announced by U.S. President Donald Trump, the Tasnim news agency, which is close to the Islamic Revolutionary Guard Corps (IRGC), reported early on Wednesday. Iranian Foreign Minister Abbas Araghchi said safe passage through the Strait of Hormuz would be possible for two weeks in coordination with Iran’s armed forces “and with due consideration of technical limitations.” Trump had made reopening the waterway a condition for the ceasefire and had threatened to target Iran’s energy sector and infrastructure, including bridges, if Tehran failed to comply, setting…

GenCos Says N501bn Bond Boosts Confidence in Power Reforms Power Generation Companies (GenCos) say the successful issuance of N501 billion bond in January underscores growing investor confidence in the Federal Government’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The GenCos noted that the reform programme was designed to tackle Nigeria’s N3.3 trillion electricity sector debt. Mr Seyi Sobogun, Managing Director of First Independent Power Ltd., disclosed this in a statement on Tuesday in Lagos on behalf of the GenCos. The Federal Government introduced the programme to address long-standing structural challenges in the power sector, including mounting unpaid debts, ageing infrastructure,…