Author: Ogochukwu Ndubuisi

In the official foreign exchange market, the naira appreciated to N1,347 per dollar on Monday, reflecting the absence of significant pressures from international payments.

Alleged $25.5m Debt: Court Orders Interim Administration for Green Energy, Lekoil A Federal High Court in Lagos has ordered an interim administration for Green Energy International Ltd. and Lekoil Oil and Gas Investments Ltd. following their alleged failure to pay 25.5 million dollars debt. Justice Ambrose Allagoa also appointed Mr Chimezie Ihekweazu (SAN), an accredited insolvency practitioner, as the interim administrator for both companies throughout the interim administration. The judge ordered that Ihekweazu should do all functions of an administrator, except distribution of the assets of the respondents. The judge ordered that the interim administration would continue until the determination…

UN Concludes Nuclear Talks With Iran Ahead of Renewed Tehran-Washington Negotiations The head of the United Nations (UN) nuclear watchdog on Monday concluded high-level talks in Geneva with Iran’s foreign minister, ahead of renewed negotiations between Tehran and Washington. International Atomic Energy Agency Director-General, Rafael Grossi, said he had “just completed in-depth technical discussions” with Iran’s Foreign Minister, Abbas Araghchi. Grossi posted the remark on X alongside a photograph showing the two officials seated together during the meeting. The discussions came amid persistent tensions over Iran’s nuclear programme. Araghchi travelled to Switzerland on Sunday for a new round of talks…

Nigeria Rugby Unveils 2026 Calendar The Nigeria Rugby Football Federation (NRFF) has unveiled its comprehensive 2026 calendar of activities, outlining an expanded domestic structure and a renewed drive to reposition women’s rugby on the continental stage. The federation’s media coordinator, Tolu Oguntimehin, made this known in a statement issued on Monday in Lagos and made available to journalists. According to the release, the roadmap focuses on grassroots growth, youth development, high-performance pathways, and stronger international competitiveness in both the 7s and 15s formats. The statement also disclosed that the 2026 season would feature expanded domestic competitions, representing one of the…

Sri Lanka Commits to 3 Year Electricity Cost Reduction Plan The Sri Lankan government reiterated that it intends to bring down electricity tariffs over the next three years by lowering power generation costs, local media reported. Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Finance and Planning, said electricity pricing remained tied to a cost-recovery framework, meaning that end-user tariffs reflect underlying generation expenses. He said the administration’s priority is to address those cost drivers over the medium term rather than rely solely on periodic tariff changes. Temporary fluctuations in power tariffs might occur, Fernando said, noting that…

Active Voice Subscription Hit 171.7m in Q2 – NBS The National Bureau of Statistics (NBS) says telecom industry maintained strong performance through the second quarter of 2025, with active voice subscriptions rising 171,730,06. According to NBS, this shows a growth rate of 0.48 per cent compared to the 170,904,257 reported in the second quarter of 2024. This is contained in the NBS Telecoms Data: Active Voice and Internet, Porting and Tariff Information Report for Q2 2025, released in Abuja on Monday. On a quarter-on-quarter basis, the report showed that active voice subscribers decreased by 0.57 per cent from the 172,708,410…

Nigeria, Angola Sign Agreement to Ease Movement of Diplomats, Government Officials The Federal Government of Nigeria and the Government of the Republic of Angola have signed bilateral agreement to ease movement of diplomats and government officials across both countries. This is contained in a statement issued on Monday by Nigeria’s Minister of Foreign Affairs, Amb. Yusuf Tuggar, through the spokesperson of the ministry, Kimiebi Ebienfa. The draft Agreement between the two countries which focus on Visa Exemption for Holders of Diplomatic and Official/Service Passports was formally signed by both parties on Feb.15, 2026. According to Tuggar, who led the Nigerian…

Naira Opens Strong, Markets Anticipate Stability The naira opened strong on Monday after a previous gain as market confidence remains intact at the official window. Foreign payments and US dollar supply are projected to match as the authority seeks to maintain stability, with a preference for gradual appreciation. Last week, the Naira maintained its appreciation against the US dollar in the Nigerian Foreign Exchange Market (NFEM) window, supported by continued intervention by the authority. The exchange rate improved at the official window, and the Naira strengthened by ₦10.78 per USD to close at ₦1,355.41 compared to ₦1,366.19 recorded previously. Trading…

A flood of inflow from expired investment securities, amid zero liquidity mop-up, drove excess liquidity in the money market higher last week. 

Ethereum (ETHUSD) slumped by about 7% in the last 24 hours in the crypto market, hovering around $1,940.37