Author: Ogochukwu Ndubuisi

Africa’s $1.1trn Domestic Capital can Fund its Transformation – ECA The Economic Commission for Africa (ECA) says Africa holds more than 1.1 trillion dollars in domestic institutional capital which must be strategically deployed to finance the continent’s transformation. The Executive Secretary of the ECA, Mr Claver Gatete, said this virtually at the on-going Ninth Africa Business Forum convened by the ECA in Addis Ababa, Ethiopia. The theme of the event is: “Financing the Future of Africa: Jobs and Innovation for Sustainable Transformation.” Gatete said although Africa faced infrastructure-financing gaps and loosed billions annually to illicit financial flows; it was not…

UPDC Obtains Approval to Cure Free Float Deficiency in 2-Year Nigerian Exchange Regulator Limited has approved UPDC’s request for extension of time to achieve the required free float threshold within two years (2026-2028). In an official statement, the company told shareholders that the extension is to enable the Company to comply with Nigerian Exchange Limited’s free float requirements of 20% issued and fully paid share capital. The other option is for UPDC to meet N20 billion free-float market capitalization for companies listed on its Main Board and to ensure that the Company returns to compliance with its post-listing obligations. It…

Nigeria’s biggest financial institution by total assets, Access Holdings Plc (Ticker: ACCESSCORP) gained about 9% in the equities market as investors’ sentiment improved ahead of the group’s earnings release.

NNPC Declares N5.76trn Profit in 2025 UPDATE: The Nigerian National Petroleum Company Limited (NNPC Ltd.) declared N60.5 trillion in revenue and N5.76 trillion Profit After Tax (PAT) in the 2025 financial year. The NNPC Ltd. in its December 2025 Monthly Report Summary, highlighted key figures including crude oil and condensate production, natural gas output, revenue, PAT, and strategic initiatives during the period under review. The report revealed that crude oil production remained relatively moderate and pipeline maintenance activities disrupted some operations in the financial year. It showed that average crude oil and condensate production stood at 1.54 million barrels per…

Otti Clarifies Abia Senior Citizens Establishment Law Misunderstandings about the Abia Senior Citizens Centre by the administration of Governor Alex Otti have been laid to rest. The centre was established to provide social protection and access to healthcare for the elderly in the state and not for money sharing, the government clarified. According to the state government, the senior citizens centre will not serve as a retirement home or a place for abandoned senior citizens in Abia. There have been speculations that senior citizens in the state will be receiving monthly stipend and other packages from the government, through the…

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…