Author: Ogochukwu Ndubuisi

MCR: Capital Market Academics Want SEC to Review Recapitalisation Deadline The Capital Market Academics of Nigeria (CMAN) has advised the Securities and Exchange Commission (SEC) to revisit and extend the recapitalisation deadline fixed for regulated market operators. CMAN gave the advise in a communiqué signed by Prof. Uche Uwaleke, the President of the association at the end of its meeting in Abuja on Tuesday. SEC recently released a new Minimum Capital Requirement (MCR). The new MCR mandated all regulated capital market entities to comply with the revised requirement on or before June 30, 2027. The communique said that the proposed…

Tinubu Seeks Amendment to Federal High Court Act President Bola Tinubu has urged the Senate to amend the Federal High Court Act to increase the statutory number of Justices of the Federal High Court from 70 to 90. Tinubu’s request was contained in a letter conveying the amendment bill, addressed to the Senate president, Godswill Akpabio, and read at plenary on Tuesday. Tinubu said Section 1 (2) of the Federal High Court Act Cap F-12, Laws of the Federation of Nigeria 2004 originally provided for a maximum of 50 judges. He, however, said that the number was increased to 70…

Up by about $510 million in 2026, Nigeria’s foreign reserve hit its highest in the last 8 years, driven by an increase in crude oil production and relative commodity price stability.

Tariff-Free Trade: Nigeria, UAE Sign Historic Deal Federal Government signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) to remove tariffs on some products. Rep. Sam Onuigbo a member of the Governing Board of the North East Development Commission in an interview with the News men in Abuja on Tuesday said that the game changer in Abu Dhabi was CEPA which Nigeria signed with UAE at the Abu Dhabi Sustainability Week which took place from Jan. 11–15. Onuigbo was a member of the House of Representatives of Nigeria who represented Ikwuano/Umuahia North and South Federal Constituency…

Overnight, Repo Rates Steady with Excess Liquidity in Money Market Excess liquidity in the financial system kept repo and overnight lending rates unchanged amidst rising placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF). The money market was less aggressive in the absence of CBN open market operations, despite a robust funding profile. Last week, the authority mopped up about N4 trillion via its OMO bill sales, and there was also a Treasury bill auction. Some analysts anticipate the authority will likely float its OMO bills for investor subscription, as liquidity levels in the financial system have…

NGX All-Share Index Climbs Amidst Q4 Earnings Optimism The Nigerian Exchange (NGX) All-share index (ASI) rose slightly amidst the fourth quarter (Q4) of the financial year 2025 earnings release. Trading activity was bullish, though bargain hunting has slowed down. The local bourse witnessed some companies dropping their financial results on Monday. Stockbrokers said the mild bargain hunting supported a slight uptick in key market indicators. The NGX All-Share Index (ASI) advanced by 0.003% to settle at 165,517.56 points, reflecting cautious investor participation. Trading activity presented a mixed picture. Total trading volume declined by 17.77% to 601.635 million units, while transaction…

Gold Refinery Plan Divides Regions, Sparks Debate The Coalition of Funtua Community-Based Organisations has aligned with the Northern Elders Forum in challenging the proposed siting of the National Gold Refinery in Lagos over equity, federal balance and national interest. This was contained in a statement issued to newsmen on Monday in Kaduna by Alhaji Rabi’u Dankoli, Chairman of the coalition, and its Secretary General, Prof Muhammad Garba. They duo said Nigeria stood at a crossroads where policy choices exposed structural contradictions, stressing that the refinery controversy transcended administration and raised constitutional, economic and moral questions. They added that locating the…

Soludo Shuts Down Onitsha Main Market for a Week Over Sit-at-Home Gov. Chukwuma Soludo of Anambra has ordered the immediate closure of the Onitsha Main Market for one week, following the continuous sit-at-home directive being observed by the traders. Soludo gave the order on Monday in Onitsha shortly after he visited the market, noting that the defiance of the market leadership to open, was against government’s directive. According to him, it is the latest and perhaps most drastic approach to determine who controls time and economic life in Southeast Nigeria on Mondays. “The enemy is the long-standing, fear-enforced Monday sit-at-home…

Alleged Fraud: AGF Takes Over Mike Ozekhome’s Trial The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, has formally taken over the prosecution of Mike Ozekhome SAN, in the alleged fraud charges brought against him by ICPC. Ozekhome was to be arraigned today by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in an Abuja high court, for alleged forgery in a UK property case When the matter was called, Dr Osuebeni Akpomesingha announced appearance for the prosecution. Kanu Agabi, SAN, a former AGF and Minister of Justice, and others announced their appearance for the…

RIVER Gains 42% in Monster Rally on Improved Fundamentals River (RIVER) has gained more than 42% in the past 24 hours, dramatically outperforming a broadly flat crypto market. This surge extends a parabolic 7-day gain of 250.16%. According to trading data from CoinMarketCap.com, RIVER has climbed to $80.29 during early trading hours on Monday, up by 42% in 24 hours. Trading volume increased by about 15% to $98 million at the press time, with the market cap settling at $1.62 billion. River’s 24-hour surge is driven by a potent mix of a high-profile capital infusion, fresh exchange liquidity, and a…