Author: Olu Anisere

AFC Secures $100 Million Facility from FinDev Canada Africa Finance Corporation (AFC) has secured a USD 100 million, 10-year term loan facility from FinDev Canada, Canada’s bilateral Development Finance Institution. This landmark transaction represents AFC’s debut in the Canadian market and its first partnership with FinDev Canada, while also marking FinDev Canada’s inaugural infrastructure financing in Sub-Saharan Africa, an official statement said. The facility will strengthen AFC’s funding base and support a growing pipeline of renewable energy and low-carbon transport projects across Sub-Saharan Africa, further expanding the Corporation’s commitment to climate-resilient infrastructure development. This transaction underscores the confidence of global…

Industrial Court Hears N100m Suit against Guinness Nigeria A former territory manager with Guinness Nigeria Plc, Mr. Ntima Anya, has dragged the multinational beverage company, Guinness Nigeria Plc.  before the National Industrial Court in Akure. Anya is seeking N100 million in damages over what he described as the wrongful, unlawful, and inhumane termination of his appointment. The defendants in the suit are Guinness Nigeria Plc, and Moshood Adejoro, who was his former Line Manager (an employee with the company till date). The matter, which came up for hearing on Tuesday, saw the claimant open his case through his counsel, Mr…

$31trn Debt Is Holding Back Developing Countries – UN Official UN Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan says 31 trillion dollar burden is stifling the development of developing countries. The UN trade official said this on Monday while addressing UNCTAD’s 195 Member States in Geneva. Grynspan, however, said that holding the line on the existing rules-based international trading system remains an essential challenge if the world is the keep a damaging tariff war at bay She said that 72 per cent of global trade “still moves under WTO rules” – a reference to the World Trade Organisation (WHO), whose…

Oil Stocks Deliver Tiny, Negative Return in Nearly 10 Months Holding listed oil companies’ stock is negative for any equity portfolio construction. Nigeria’s listed oil companies have disappointed their shareholders with unimpressive, negative year-to-date returns. The oil index has been the worst performer, which has damaged investors’ wealth despite strong market performance. Every investor who owns shares worth N10 million in these companies will be getting much less, and considering what the amount could have done elsewhere, there is an unquantified loss in relation to time. The unimpressive oil index performance has been driven by weak sentiment rather than fundamentals,…

Airtel Africa Keeps Tight Position in Stock Market, Price Stagnates Airtel Africa Plc’s market value remained steady at N8.683 trillion on the Nigerian Exchange (NGX) due to thin trading actions on the telecom company stocks. The company has delivered a 7.1% year-to-date return to its investors, underperforming the Nigerian Exchange index’s 44.74% growth. The telco has been trading against the positive tide in the local bourse, with nothing seems to shake its share price. Airtel Africa missed a possible re-rating versus its rival in spite of its robust earnings. The ticker closed at N2310.50 in the stock market, a level…

FGN Bonds Yield Rises on Investors’ Rotation, Q4 Supply Update The Federal Government of Nigeria (FGN) bonds yield surged in the secondary market due to sell pressures from investors that adjusted their portfolio holdings ahead of Q4 supply. The benchmark yield on local bonds continues to track below 16% versus an inflation rate of 18.02% year on year. There were sell actions on Federal Government of Nigeria (FGN) bonds across the belly and long end of the curve. A selloff on local bonds paper that will expire in 2033 pushed the yield higher by 11 basis points. Yield on FGN…

Bitcoin, Ethereum Rebound Boost Cryptos Market Cap to $3.68T The crypto market climbed by 1.39% in the last 24h, partially recovering from a 10.23% monthly decline amidst institutional accumulation. BitMine adding $1.5 billion in ETH during recent dips. Retails investors selloffs dominated trading activities last week. According to market analysts, Japan’s potential crypto banking rules boosted sentiment that reversed negative trend in the cryptocurrencies market on Sunday. Market signals highlighted a rebound from oversold across tokens, altcoins and stablecoins – lifting market capitalisation of all Cryptos by 1.57% in 24 hours to $3.68 trillion. Trading data across traded also revealed…

Enugu Slashes C of O, Other Land-Related Fees by 50% Gov. Peter Mbah of Enugu State has approved a 50 per cent slash in fees for the processing of Certificates of Occupancy (C of O) and other land-related documents. Mr. Chiwetalu Nwatu, the Managing Director and Chief Executive Officer of the Enugu State Geographic Information System (ENGIS), disclosed this in a statement on Saturday in Enugu. Nwatu said the move was to empower landowners, encourage investment, and ensure every property in Enugu State has legitimate documentation. He described the milestone as Mbah administration’s people-oriented and investment-friendly reform agenda. According to…

CBN to Open N650bn Nigerian Treasury Bills for Subscriptions The Central Bank of Nigeria (CBN) will open Treasury bills worth N650 billion for subscription at the next week’s primary market auction. The market anticipates reduction in the short-term borrowing rates following 50 basis points downward adjustment by monetary policy committee in Sept. MarketForces Africa reported that the Apex Bank opened its fourth quarter auction calendar with N570 billion across standard maturities, including 91-day, 182-day and 364-day to expiration short term borrowing instruments. Spot rates were reduced across mid and long tenors. At the main auction scheduled for Wednesday, the CBN…

Stockholders Gain N1.3trn as NGX Index Expands by 1.35% Stockholders, or equities investors, gained about N1.3 trillion as the Nigerian Exchange (NGX) All Share Index expanded by 1.35% week on week to a new high. The market extended its winning streak this week, climbing to a new 52-week high and brushing the 149,000 psychological mark before settling at 148,977.64 points, representing a 1.35% week-on-week gain. The benchmark—NGX All-Share Index advanced by 1.35% to reach 148,977.64 points, while market capitalisation increased by N1.3 trillion to reach N94.56 trillion. The uptrend was driven by renewed buy interest in mid and large cap…