Author: Ogochukwu Ndubuisi

NGX Climbs Amidst Significant Cross Deals in Banking Stocks The Nigerian Exchange (NGX) climbed by N6.9 billion on Wednesday amidst significant crossed deals recorded in banking segments.  Stockbrokers reported that buying interest in Fidelity Bank, Stanbic IBTC Holdings among others supported the NGX All-share index, market capitalisation growth. Trading activities in the local bourse was tight with both buy and sell side actors show of strength that resulted in 1 basis point surge in key performance indicators. Though bear showed faces, the equities market still closed today’s trading session on a positive note as the NGX-ASI advanced by +0.01% to…

CBN, NIBSS Urge Financial Institutions to Keep e-Fraud Lower The Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System Plc (NIBSS) have advised financial institutions to strengthen collaboration to sustain recent declines in electronic fraud and support deeper digital inclusion. They made the call on Wednesday at the 2026 Nigeria Electronic Fraud Forum (NeFF) Technical Kick-Off Session in Lagos, attended by regulators, banks, payment service providers, identity agencies and law enforcement agencies. Delivering the keynote address, Deputy Governor, Financial System Stability, CBN, Mr Philip Ikeazor, said sustained cooperation under NeFF since 2011 had strengthened the resilience and security…

Market Index Edges Higher as 54 Nigerian Stocks Rally The market index, or the Nigerian Exchange (NGX) all-share index (ASI), edged higher slightly on Wednesday as 54 stocks rallied in the local bourse against 24 decliners. Trading activities tightened with some portfolio adjustments ahead of the looming fourth quarter of financial year 2025 earnings release. Stockbrokers said early rally slowed down as the market began to weigh the segment where additional value will be created—with investors targeting dividend aristocrats in the Nigerian bourse. Trading data showed that the All-Share Index edged up 0.01% to settle at 166,267.60 points. Market capitalisation…

China Says Will Defend UN System After ‘Board of Peace’ Invite China has always been committed to true multilateralism, and will firmly safeguard the international system with the United Nations at its core, foreign ministry spokesperson Guo Jiakun said on Wednesday. Guo made the remarks at a news briefing after U.S. President Donald Trump said Tuesday that the UN should continue because of its potential, but the Board of Peace he proposed “might” replace the organisation. No matter how the international situation evolves, China would firmly safeguard the international system with the UN at its core. China would protect the…

France Seeks NATO Exercise on Greenland France is calling for a NATO exercise in Greenland and is willing to participate in one, Élysée presidential palace sources said on Wednesday. A NATO exercise is needed as the security of the Arctic region must be taken seriously, it said. Denmark has asked NATO for a permanent presence on the island, it local media reported on Tuesday. NATO increased its presence in the Baltic Sea and the Baltic States and this could serve a a model for Greenland, Danish Prime Minister Mette Frederiksen said. Denmark and Greenland had previously proposed a NATO mission…

Weak Shipping Line Regulation Undermines Customs Reforms — SEREC The Sea Empowerment and Research Centre (SEREC) says poor regulation of shipping lines could undermine the credibility of the Nigeria Customs Service (NCS) reforms. SEREC`s Head of Research, Dr Eugene Nweke told the News men on Wednesday in Abuja that customs efficiency was linked to the performance of the Nigeria’s maritime and trade ecosystem. Nweke described the NCS as central to the success of the National Single Window (NSW) risk-based clearance and trade facilitation reforms. “However, Customs efficiency gains are systematically eroded when upstream shipping practices introduce artificial delays, speculative charges,…

Germany Overtakes U.S. as Top Buyer of Brazilian Coffee Germany has become the world’s largest buyer of coffee from Brazil in 2025, overtaking the United States (U.S.), which slipped to second place after imposing steep import tariffs. Germany imported 5.4 million 60-kilogram bags of Brazilian coffee last year, accounting for 13.5per cent of Brazil’s total exports, the Brazilian coffee exporters’ association Cecafé said on Wednesday. The U.S., traditionally Brazil’s largest coffee customer, fell to second place with imports of 5.3 million bags, down 33per cent from the previous year Márcio Ferreira, Cecafé head, said the decline was largely driven by…

Oborevwori Presents N200bn Supplementary Budget to Delta Assembly Gov. Sheriff Oborevwori has presented a N200 billion supplementary budget to the Delta House of Assembly for consideration and approval. The proposal allocates N140.6 billion to recurrent expenditure and N59.4 billion to capital expenditure. Speaker, Dennis Guwor, disclosed this on Tuesday in Asaba while reading the governor’s message during plenary. Delta is currently implementing the 2025 Appropriation Act of N979.2 billion. Oborevwori said the supplementary budget would sustain delivery of the state’s MORE/Renewed Hope Agenda. “The need became necessary to address expenditures, bearing in mind that the 2025 budget runs till Jan.…

Alex Otti Endorses NCRIB’s ‘One Insurance Industry’ Initiative Governor Alex Otti of Abia State has endorsed the “One Insurance Industry” initiative of the Nigerian Council of Registered Insurance Brokers (NCRIB). Otti also pledged the state government’s support to drive insurance awareness and deepen industry growth. The Governor gave the assurance when the President of the NCRIB, Mrs Ekeoma Ezeibe, led a delegation of the Council on a business visit to him in Umuahia. In a statement on Tuesday, Otti commended the council’s leadership for promoting insurance awareness in the country He said that Abia state would align with the initiative,…

CBN Sells N2.6tn OMO Bill to Investors at 19.39% for 245-Day The Central Bank of Nigeria (CBN) floated an open market operation where N600 billion worth of bills were offered to foreign portfolio investors and deposit money banks, the eligible market participants. The move came as N1.3 trillion in OMO bills expired, but the Apex Bank raised more than the amount above aggregate repayment for Jan 2026 bills that expired. Meanwhile, the main auction recorded significant subscription levels amidst rising appetite for the naira asset with elevated yields across the short, belly, and long ends of the curve. Fixed income…