Author: Ogochukwu Ndubuisi

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…

Unity Bank Unveils Enhanced Unifi App to Deepen Digital Banking Experience Unity Bank Plc has upgraded its Unifi mobile banking platform, to strengthen security, improve transaction speed and simplify digital payments. The bank, in a statement on Tuesday, said the latest update, Unifi version 2.3, is an improved features also designed to enhance convenience for customers. The statement reads in part, “Key upgrades included enhanced security protocols, expanded quick-action functionalities, improved bill payment options, and an updated Nigeria Quick Response (NQR) feature to support faster and more secure QR code transactions. “A key aspect of the rollout builds on the…

Greenland Row: Macron Proposes Meeting with G7 Plus Russia, Denmark French President Emmanuel Macron has proposed holding a meeting in Paris on Thursday between the G7 countries, Russia, and Denmark, U.S. President Donald Trump said. Trump said the proposal was outlined in private text messages exchanged between the two leaders, which he shared on his Truth Social platform early Tuesday. The Élysée Palace confirmed the authenticity of the messages to dpa. In the messages posted on Truth Social, Macron brings up Trump’s demands that the U.S. acquire Greenland from Denmark, writing: “I do not understand what you are doing on…

UN Advocates Universal Abolition of Death Penalty UN human rights office (OHCHR) has advocated the universal abolition of death penalty, noting that 2025 saw an ‘alarming’ increase in executions in a small number of retentionist countries. The International Covenant on Civil and Political Rights, ratified by 175 countries, protects the right to life. It stipulates that, for countries that have not abolished capital punishment, it be imposed only for the ‘most serious crimes’ in exceptional cases. OHCHR, in a statement, said the sharp increase in capital punishment in 2025 was driven by executions for drug-related violations, crimes people committed as…

XRP Drops Below $2 Ahead of Trump’s Davos Speech Ripple (XRP) fell 2.6% to $1.93 in 24h, underperforming the broader crypto market, which has lost 2.25% due to negative investors’ sentiment. The price slump has extended XRP’s weekly loss to about 75 at the press time, with data showing a sharp volume reduction over the last 24 hours. XRP trading volume has declined by 17.34% to $3 billion as investors rotated positions away from altcoins in favour of BTC, with increased market dominance on Tuesday. Traders said XRP price depreciation is due to mid-term holders selling near $2 resistance, technical…

Fitch Withdraws All Diageo Ratings Fitch Ratings has affirmed Diageo plc’s Long-Term Issuer Default Rating (IDR) and senior unsecured debt rating at ‘A-‘. The outlook on the IDR accorded as negative. Meanwhile, Fitch has subsequently withdrawn all ratings. It said the negative outlook reflects weak operating performances and already high indebtedness at the financial year ending June 2025, with leverage no longer commensurate with the rating over the next two years, amid a weak macroeconomic environment and subdued consumer confidence. “We estimate earnings before interest, tax, depreciation and amortisation (EBITDA) net leverage at 3.3x at FY26 versus 3.6x in FY25 …

GTCO, First Holdco Losses Drag NGX Key Indicators Lower The Nigerian Exchange (NGX) All-Share Index (ASI) dropped at the beginning of the trading week due to sell pressure in banking names like GTCO, First Holdco, and Nigerian Breweries, among other decliners. Reflecting their sizes or weight on NGX , the losses sustained by heavyweight banking names dragged market cap and other key indicators downward. The local bourse started the week on a negative note as the market index and capitalisation shed 0.01% to settle at 166,112.50 points and N106.34 trillion, respectively. Trading activity showed divergence as volume climbed 16.62% to…

Norwegian PM Reveals Trump Letter Dismissing Peace, Seeking Control of Greenland Norwegian Prime Minister, Jonas Store on Monday confirmed that he received a letter from the United State President, Donald Trump, dismissing any obligation to think purely of peace. Store said that Trump also reaffirmed his desire to control Greenland. He said that the letter had come in response to a short message to President Trump from him earlier in the day. Trump, in the letter said he spoke on behalf Finnish President, Alexander Stubb and himself. Trump, also in the letter, referred to Norway’s decision not to award him…

EUR Rises as U.S Interest in Greenland Weakens Dollar Index The euro (EURUSD) strengthened in the foreign exchange market as tensions mount over the U.S. efforts to assert control over Greenland, a semi-autonomous region of Denmark. EURUSD surged to around $1.162, recovering from an earlier three-month low of $1.158, supported by rising investor confidence amidst dollar weakness. FX trades reported that US dollar weakened following fresh tariff threats from President Donald Trump. Trump has warned of imposing 10% tariffs on several European countries in an effort to pressure Denmark into selling Greenland to the US. European states are reportedly considering…