Author: Ogooluwa Aremu

Takaichi Re-Elected as Japan’s 105th Prime Minister Sanae Takaichi, President of Japan’s ruling Liberal Democratic Party (LDP), was reelected as the country’s 105th prime minister on Wednesday following a parliamentary vote. At an extraordinary session of the National Diet convened earlier in the day, both the House of Representatives and the House of Councillors held votes to appoint the prime minister. In the powerful lower house, Takaichi secured 354 votes in the first round, defeating Junya Ogawa, head of the main opposition Centrist Reform Alliance (CRA), who garnered 50 votes, along with other candidates. In the upper house, no candidate…

Sri Lanka to Secure $50m in World Bank Financing for Digital Transformation Sri Lanka is to obtain Special Drawing Rights (SDR) financing equivalent to 50 million dollars from the World Bank Group to implement its Digital Transformation Project. The government’s Information Department announced on Wednesday. The initiative, part of the country’s Digital Economy Strategy 2025 to 2030, is aimed at improving the efficiency, accessibility, and transparency of public services through expanded use of digital platforms. Cabinet approval to seek financial assistance from international development partners for the project was granted in October 2025. Loan negotiations between relevant government agencies and…

Oando Plans Rights Issue at N50 Per Share Oando Plc has announced a plan to raise capital via a rights issue expected to be exercised by its existing shareholders, according to a regulatory filing. In an official disclosure, the indigenous energy company notified the shareholders that it has submitted an application to the Nigerian Exchange Limited for the approval and listing of a Rights Issue of 4,415,867,342 Oando said its ordinary shares of 50 Kobo each will be issued at N50.00 per share, based on one new ordinary share for every two existing ordinary shares held.  The company’s share is…

Oil Prices Rise Amidst Geopolitical, Geoeconomic Concerns Oil prices climbed on Wednesday as markets struggled with geopolitical balance, reflecting sustained fluctuation between supply and demand outlook. U.S policy instability has stoked pressures on geoeconnomic stressing global economic projections. Brent crude traded at $67.09 per barrel, up 0.2% from the previous close of $66.93. US benchmark West Texas Intermediate (WTI) increased 0.2% to $62.32 per barrel, compared with $62.18 in the previous session. Markets focused on comments from US Vice President JD Vance, who said a second round of negotiations with Iran had been productive “in some ways,” but that Tehran…

GCR Ratings has affirmed African Export-Import Bank’s (Afreximbank) international scale long and short-term issuer ratings of A and A2, respectively. 

Stock Market Cap Hits N1.22trn, Investors Gain N5.11Trn The Nigerian Exchange Ltd. (NGX) started the week on a positive note, with market capitalisation rising by N5.1 trillion, representing a 4.36 per cent gain on Monday. The performance was driven by increased interest in high capitalised equities such as ABC Transport, Beta Glass, Ikeja Hotel, Mc Nicholas, Oando, and 52 other equities. Specifically, the market capitalisation which increased to N122.129 trillion at the opening, closed at N117.027 trillion. Similarly, the All-Share Index (ASI) edged up by 7,953.36 points or 4.36 per cent, closing at 190,266.44, compared to 182,313.08 recorded on Friday.…

Nigerian Exchange (NGX) hit a historic high on Monday as equities investors gained N5.11 trillion due to improved bargain hunting

Ethereum (ETHUSD) dropped by 2.11% to $1,958.99 in 24h, underperforming a slightly weaker broader market, primarily driven by a major whale preparing to sell.

DSS Accuses El-Rufai of Cybercrime, Files 3 Charges Department of State Services (DSS) has filed a three-count criminal charge against former Gov. Nasir El-Rufai of Kaduna State bordering on cybercrime offences. The DSS instituted the charge at the Federal High Court in Abuja, following the alleged involvement of the ex-governor in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Ngpfvuhu Ribadu. The charge, filed by the DSS, on Monday, is marked: FHC/ABJ/CR/99/2026. The service accused El-Rufai of breaching the Cybercrimes Prohibition Act, (2024), and the Nigerian Communications Act (2003.) In count on, El Rufai was alleged to…

AU Summit Maps Outlines Africa’s Development Roadmap The 39th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) mapped out a path for Africa’s future to include water security, stability and global representation. AU Commission Chairperson Mahmoud Ali Youssouf and Burundian President Evariste Ndayishimiye, who is also the current chairperson of the AU, underpinned the summit’s strategic and direction-setting deliberations. The assembly meeting, which brought together African leaders at the AU headquarters in Ethiopia’s capital, Addis Ababa, from Saturday to Sunday, was held under the AU’s 2026 theme: “Assuring Sustainable Water Availability and…