Author: Ogooluwa Aremu
Nigeria’s 33 recapitalised deposit money banks (DMBs) sourced 72.5% of their combined capital injections locally over two years, the Apex Bank said in an official statement.
Trump to Deliver Primetime Address on Iran War as Uncertainty Grips Washington Washington is holding its breath tonight as President Donald Trump prepares to address the nation in a rare primetime speech, scheduled for 9 p.m. Eastern Time, on the month long war with Iran. A conflict that has rattled global energy markets, strained America’s oldest alliances, and claimed thousands of lives across the Middle East. White House press secretary Karoline Leavitt announced the address on X, saying the president would “provide an important update on Iran,” though she offered no further details on what exactly he plans to say.…
Peoples Democratic Party (PDP) says a total of 4,264,675 Nigerians have registered as members of the party across the 36 states of the federation and the Federal Capital Territory (FCT) as at March 31.
Oil prices dropped sharply in the global commodity market on Wednesday after the U.S. announced its plan to exit Iran in two to three weeks, suggesting the Middle East war could end sooner than expected.
DMO Hikes Spot Rates on 7-Year, 10-Year FGN Bonds The Debt Management Office (DMO) raised N485.48 billion from its monthly bond auction held on Monday, as the authority prioritises the costs of its borrowing plan. Total subscriptions for the reopened Federal Government of Nigeria (FGN) bonds totalled N931.51 billion, with most interest in the 10-year note, according to auction results. At the auction, the Debt Office offered N750 billion worth of Federal Government of Nigeria (FGN) bonds across three reopenings: 5-year, 7-year and 10-year papers. Investors’ subscription for the 5-Year reopening bond totalled N251.43 billion, versus the N250 billion offered…
Boosted by rising demand, the US dollar rallied against its trading pairs to its highest positions in about a year, supported by geopolitical tensions and shifting rate expectations.
Nigerian Treasury Bills Return Shrinks in Post-Auction Rally The average yield on Nigerian Treasury bills fell by 9 basis points in the secondary market, driven by sustained investor interest in the naira asset following the Apex Bank’s rejection of excess bids at the main auction last week. Investors continue to lock in yields due to successive yield repricing at the Treasury bill auction, supported by disinflation and a positive real return on investment. On Monday, the Treasury bills market closed bullish, with the average yield decreasing by 9bps to 17.67%. Buying interest was more pronounced at the short, belly, and…
Naira Drops to N1,383, NFEM Interbank Turnover Reduces The naira dropped by 0.22% to ₦1,383.58 per dollar at the Nigeria foreign exchange market (NFEM) as intrabank turnover reduced, according to data published by the Central Bank on Monday. The total monetary value of foreign exchange transactions conducted among authorised dealer banks declined to N142.291, data published by the Apex Bank revealed. The CBN report indicates that the spot FX rate reached an intraday high of N1391 per dollar, and the lowest rate quoted for the day was N1380, with N145.291 million in interbank turnover, down from N172.892 million on Friday.…
Spain Closes Its Airspace to U.S. Jets Involved in the Iran War Spain has drawn a sharp line in the sky. In one of its most decisive foreign policy moves in recent memory, the Spanish government has shut its airspace to all American military aircraft participating in the ongoing war against Iran — a dramatic stand that has placed Madrid on a collision course with its longtime ally, Washington. The announcement was confirmed by Foreign Minister José Manuel Albares, who made the declaration during a Monday morning interview on a Catalan radio station. Albares said the government’s position was rooted…
Ethereum (ETH) price surged by about 4% over 24 hours to $2,073 as the foundation executed major stake sales, boosting trading volume amid capital rotation into the dominant altcoin.