Author: Ogochukwu Ndubuisi

CBN, Finance Ministry Sign MoU for Improved Fiscal-Monetary Policy Coordination The Central of Nigeria (CBN) and the Federal Ministry of Finance, on Friday in Abuja signed a Memorandum of Understanding (MoU) to improve Fiscal-Monetary Policy Coordination. The Governor the CBN, Olayemi Cardoso, said that the occasion marked a significant milestone in Nigeria’s pursuit of stronger macroeconomic management, lasting economic stability, and sustainable prosperity for all Nigerians. According to Cardoso, beyond the signing of a document, it represents a shared commitment to deepening collaboration in the interests of Nigeria’s economy and the Nigerian people. “Fiscal and monetary policies remain two important…

FCMB Capital Markets Supports BOI’s ₦274.19 Billion Development Bond Issuance FCMB Capital Markets Limited acted as a Joint Issuing House and Bookrunner on the ₦274.19 billion Series 1 Development Bond issued by the Bank of Industry (BOI), one of the largest sub-sovereign bond issuances through the Nigerian capital market. The five-year, 17.60% fixed-rate bond, due in 2031, was issued through BOI Financing SPV Plc under the Bank’s US$1 billion Multi-Currency Instruments Programme. Initially sized at ₦250 billion, the transaction was oversubscribed due to strong demand from institutional investors. BOI exercised the green shoe option to accommodate the additional demand, increasing…

China Launches Satellites For Global Internet Network From Sea For First Time China has successfully placed nine satellites into orbit from the sea in the world’s first mobile sea-based launch of a low-Earth orbit broadband internet constellation. The satellites lifted off at 6:00 a.m. Beijing Time on Tuesday, September 16, 2026, from waters off the coast of Shanghai aboard the Gravity-1 Y3 launch vehicle. The mission was conducted by the Taiyuan Satellite Launch Center. The payload included eight satellites from the Qianfan (Thousand Sails) constellation — Group 26 — which is part of China’s project to build a global low-Earth…

Equities Investors Gain N1.18trn as NGX Index Climbs Equities investors gained about N1.18 trillion on the Nigerian Exchange (NGX) due to sustained buying interest in stocks with fundamentals and upside potential. The Nigerian equity market closed trading activities on a bullish note, as key performance indicators showed mixed outcomes. The All-share index increased by +0.62%, while the market capitalization rose by +0.74%, stockbrokers said. The mixed performance was attributed to the additional listing of 26,562,647,265 Ordinary Shares of 50 Kobo Each at N2.43 Per Share arising from Abbey Bank Plc’s Private Placement. The All-Share Index (ASI) added 1,523.59 basis points…

Nigerian Stock Market Surges as Investors Gain N316bn Market Report: The Nigerian stock market surged on Wednesday as investors gained about N316 billion, with year-to-date return increasing to 57.31%. The Nigerian Exchange (NGX) maintained its upward trajectory as investors maintained positive sentiment in stocks with strong fundamentals and upside potential. The market index, or All-Share Index (ASI) inched upward by 0.20% to close at 244,791.79 points, adding N315.94 billion to market capitalization, which closed at N158.71 trillion. Trading activity was mixed, as volume and turnover rose 31.14% and 3.20% to 662.43 million shares and N37.45 billion respectively, while deal count…

The Association of Telecommunications Companies of Nigeria (ATCON) has called for lower financing

Financial Inclusion Must Translate to Stronger Household, Business Resilience – CBN The Governor of the Central Bank of Nigeria (CBN) Mr Olayemi Cardoso, said that financial inclusion must go beyond access to services and deliver measurable improvements in Nigerians’ financial wellbeing. Cardoso made the statement at the 2026 Access to Financial Services in Nigeria (A2F) survey, in Abuja on Wednesday. Cardoso was represented by the Director, Consumer Protection and Financial Inclusion CBN, Dr Aisha Olatinwo. The CBN governor commended Enhancing Financial Innovation and Access (EFInA) for its sustained investment in demand-side evidence and partnership with the CBN and financial inclusion…

US Announces Visa Curbs For Some South African Nationals The United States has announced a new visa restriction policy targeting some South African nationals. Secretary of State Marco Rubio said on Tuesday that the restrictions will apply to individuals deemed responsible for laws or policies that allow land seizures without compensation, race-based discrimination, or incitement of violence against minority groups in South Africa. Rubio said Pretoria had failed to address concerns Washington had previously raised. The announcement marks the latest strain in US-South Africa ties under President Donald Trump’s second term, with the administration accusing South Africa of government-sponsored discrimination…

Okonjo-Iweala Urges N’Delta States to Establish Special Economic Zones The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has urged Niger Delta states to establish Special Economic Zones (SEZs). Okonjo-Iweala made the call virtually on Tuesday at the Niger Delta Economic and Investment Summit in Port Harcourt. The summit, under the theme ‘Driving Investment, Innovation and Industrial Growth in the Niger Delta’, was organised by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA). The WTO chief said the Niger Delta possessed the ingredients to become Nigeria’s next major industrial hub, alongside Lagos. She, however,…

PDP Defends Wike’s Support for Tinubu The Peoples Democratic Party (PDP) has defended FCT Minister Nyesom Wike’s decision to support President Bola Tinubu while retaining his PDP membership. PDP National Publicity Secretary, Jungudo Mohammed, described the decision as a legitimate constitutional right in a statement issued on Tuesday. Mohammed dismissed the rejection of Wike’s support by the All Progressives Congress (APC) Governors’ Forum, attributing it to fear and poor governance. He said APC governors initially mistook Wike’s support for Tinubu as an endorsement of the APC. According to him, they later realised that the support did not amount to surrendering…