Author: Ogooluwa Aremu
British Pound Struggles over Dovish BoE, Political Uncertainty British pound (GBPUSD) edged back toward $1.36 at the end of a volatile week that nonetheless put sterling on track for its sharpest weekly decline against the dollar since late October. GBP depreciation was driven by a mix of political turbulence and a more dovish-than-expected message from the Bank of England. A combination of a dovish hold by the Bank of England (BoE) and new knocks on Prime Minister Starmer saw sterling tumble more than a cent for the first time in three months. GBPUSD lost the most to the euro since…
Investors are taking a step back as the crypto market cap crashed to $2.2 trillion on Friday
UAC of Nigeria Lists N54.03bn Bond on FMDQ Exchange FMDQ Securities Exchange Limited has approved the listing of UAC of Nigeria Plc.’s ₦54.03 billion Series 1 7-Year 17.35% Fixed Rate Bond under its ₦150.00 billion Issuance Programme. According to FMDQ, the approval was granted by the Exchange’s Board Listings and Markets Committee, which underscores the Exchange’s pivotal role in enabling corporate entities to access long-term capital through transparent and well-regulated debt instruments. UACN deploys the proceeds from the issuance to refinance existing obligations, fund capital expenditure programmes, and strengthen the Issuer’s working capital, according to an official statement. UAC of…
Transcorp Power Profit Rises by 14%, Board Hikes Dividend Transcorp Power grew profit after tax by 14% year-on-year to N 91,417 billion at the end of the financial year 2025, details obtained from its audited financial statements revealed. Due to its double-digit earnings surge, the board proposed a full-year dividend of ₦5.50 per share for 2025, 10% increase from the amount paid in 2024. The profit distribution comprises an interim dividend of ₦1.50, paid on, and a final dividend of ₦4.00. Details from its audited figures indicated that the power-generating company builds its impressive earnings results on significant year-on-year growth…
Seplat Fires Up, Investors Bet on Tony Elumelu for Capital Gain Nigeria’s top energy company, Seplat Plc, has hit its all-time high in the stock market, gained 10% following a significant block trade transaction, according to stockbrokers. The energy stock fired up momentum as investors’ sentiment improved ahead of fourth-quarter earnings expectations. Since January, the company’s share has gained about 27% after Maurel & Prom (M&P) sold shares in Seplat to Heirs Energies. Past trading data revealed Seplat rarely shifts positions in the stock market, irrespective of its earnings or dividends announcements. Price moved once in a while, but that…
Naira Weakens Against US Dollar, Spot Rate Settles at N1,366 The naira weakened against the US dollar at the official window on Thursday, depreciating by ₦7.77 to close at ₦1,366.05/US$ compared with ₦1,358.28/US$ previously reported by the Central Bank. The exchange rate came under slight pressure as requisition for international payments eclipsed dollar volume at the supply side, slightly reversing the recent trend. Based on data from the CBN, Fx largely traded within the low and high bands of ₦1,361.80/US$ and ₦1,380.00/US$ respectively, in the absence of currency intervention. Broadstreet expects the Naira to continue trading in line with prevailing…
N2.4bn Fraud: Ex-NEXIM Bank MD Robert Orya Jailed for 490 Years The Federal High Court in Abuja has sentenced the former Managing Director (MD) of the Nigeria Export-Import Bank (NEXIM), Robert Orya, to 490 years’ imprisonment following his conviction in a ₦2.4 billion fraud case. In a statement shared via its official X handle on Thursday, the Economic and Financial Crimes Commission (EFCC) confirmed the development. Justice F.E. Messiri of the Abuja High Court has sentenced former NEXIM MD Robert Orya, who served from 2011 to 2016, to 10 years’ imprisonment for each of the 49 counts brought against him…
Deregulation, FX Reforms Save Nigeria N6trn Fuel Import Losses– NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the cumulative impact of full downstream deregulation and forex reforms has saved Nigeria over N6 trillion in fuel import losses. Mr Saidu Mohammed, Chief Executive, NMDPRA, who made this known at the ongoing Nigeria International Energy Summit (NIES) 2026, in Abuja, said this was in first nine months of 2025. Delivering a keynote address at the Mid/Downstream Transformation Debate with the theme ”Driving Nigeria’s Downstream Renaissance: Regulation, Investment, and Market Confidence”, Mohammed attributed much of the sector’s progress being witnessed…
Brent, WTI Fall as Crude Oil Market Pressures Ease Brent, U.S West Texas Intermediate (WTI) fell in the global commodity market on Thursday as supply risks fade due to U.S -Iran ongoing diplomatic talks. Prices edged lower as confirmation of upcoming US-Iran talks helped calm geopolitical nerves, though losses were capped by a sharper-than-expected draw in US crude inventories linked to extreme winter weather. Brent crude traded at $67.75 per barrel, down 0.9% from the previous close of $68.35. US benchmark West Texas Intermediate (WTI) declined 0.8% to $63.50 per barrel, compared with $64.03 in the prior session. Markets took…
British oil giant Shell recorded its lowest quarterly profit in almost five years on Thursday, due to adverse tax adjustments