Author: Ogooluwa Aremu
CBN Foreign Subsidiary Rule Sparks N1.92trn Loss on NGX The stock market on Thursday closed on a negative note as investors lost N1.92 trillion, following sell-offs in banking and cement stocks. This is amid reactions to new regulatory guidelines by the Central Bank of Nigeria (CBN) on foreign subsidiaries of banks. Market capitalisation dropped from N155.780 trillion to N153.858 trillion, recording a decline of N1.23 per cent or N1.922 trillion. The All-Share Index (ASI) also fell by 1.23 per cent or 2,994.90 points to close at 239,734.61 from 242,729.51 recorded previously. The Year-to-Date (YTD) return moderated to 54.82 per cent.…
Accord Party Backs Otti’s Re-Election Bid in Abia The National leadership of the Accord Party on Wednesday declared support for the re-election of Gov. Alex Otti of Abia in 2027, citing his developmental strides in the state. The National Chairman of the party, Prof. Christopher Imumolen, made this known during an interview with newsmen after his visit to Otti, in Nvosi, Isiala Ngwa South Local Government Area. Imumolen said that the party was impressed by the governor’s performance in infrastructure, education, healthcare and other sectors. He said that the party decided to support Otti beyond political affiliations because governance should…
Electricity: Enugu Unveils Plan to Build 660MW Coal-Fired Power Plant The Enugu State Government has unveiled plans to build a 660 mega watts coal-fired power plant starting from July to boost electricity supply in the state. The state Governor, Peter Mbah, disclosed during a solidarity visit by the Organised Private Sector Nigeria (OPSN), Enugu State, at the Government House, on Wednesday. The OPSN is an umbrella body for the Nigeria Employers’ Consultative Association (NECA); Manufacturers Association of Nigeria (MAN), Nigerian Association of Small-Scale Industrialists (NASSI) and the Nigerian Association of Small and Medium Enterprises (NASME). They also include the Enugu…
APC Unmoved by Obi’s Defection Prof. Nantewe Yilwatda, National Chairman of the APC, says the party is unconcerned about Mr Peter Obi’s defection from ADC to NDC. Yilwatda spoke on Wednesday in Abuja during the ongoing purchase and submission of APC nomination and expression of interest forms for the 2027 elections. Obi was the Labour Party presidential candidate during the 2023 presidential election. Yilwatda said opposition parties should resolve their internal disputes, insisting their crises had nothing to do with the APC. He described the resignation of about 18 National Assembly members from ADC to NDC as insignificant and incapable…
2027 Election: INEC Resumes CVR in Oyo The Independent National Electoral Commission (INEC) will resume the third phase of the Continuous Voters Registration (CVR) across the 33 local government areas of Oyo State on May 11. The Resident Electoral Commissioner (REC) in Oyo, Prof. Adeniran Tella, made this known in a statement issued in Ibadan on Wednesday. According to Tella, the third phase of the CVR, which will end on July 10, is for the online pre-registration and physical registration across the state. He said that the exercise was in line with the 2026 approved timetable and would also accommodate…
Nigeria’s US dollar bonds attracted offshore investors’ attention in the international debt market, reflecting improved confidence, supported by oil-driven fiscal performance.
Google Cloud and Solana Unveil AI Agent Payment Platform Artificial intelligence just got its own wallet. Google Cloud and the Solana Foundation announced a groundbreaking new partnership on Tuesday that allows AI agents, software bots that carry out tasks automatically, to discover, access, and pay for digital services entirely on their own, using cryptocurrency, without any human stepping in to manage the bill. The new system is called Pay.sh, and it is built on the Solana blockchain. The idea is simple but powerful. Right now, when a person wants to use an online service or digital tool, they sign up…
ADC Slashes Nomination Fees, Releases Revised 2026 Primaries Timetable African Democratic Congress (ADC) has reduced its presidential nomination form fee to N90 million and released an updated schedule for its 2026 primary elections. The party had earlier fixed the presidential nomination form at N100 million. The party’s National Publicity Secretary, Mallam Bolaji Abdullahi, in a statement on Tuesday in Abuja, said the review followed extensive consultations with party leaders, aspirants, and stakeholders across the country. Under the revised structure, presidential form now goes for N90 million, governorship, N30 million; Senate, N10 million; House of Representatives, N5 million, and State Assembly,…
The EU Pushes Hard for a Tokenised Euro in 2026 Europe has decided it cannot afford to wait any longer. While American dollar-backed stablecoins spread rapidly across the globe, the European Union is pushing hard to turn its own currency into a digital token, and the window to act is getting smaller by the day. The European Central Bank is now at the centre of one of the most ambitious financial projects in the continent’s history. Its goal is straightforward but enormously complex to deliver: create a digital version of the euro that works on modern blockchain-based technology, can settle…
The US Crypto Clarity Act Reaches Its Most Critical Moment America’s most important cryptocurrency bill is at a crossroads. The Digital Asset Market Clarity Act, known simply as the Clarity Act, has spent months stuck in the US Senate. Now, the people fighting hardest for it say the next two weeks could decide everything. The bill is designed to end years of confusion over how digital currencies like Bitcoin and Ethereum should be regulated. Right now, two government agencies, the Securities and Exchange Commission and the Commodity Futures Trading Commission, both claim authority over crypto, leaving businesses and investors in…