Author: Olu Anisere

Oil Prices Rise Amidst Markets’ Optimism over Fed Funds Rate Cut Global crude oil prices increased by more than one per cent, with Brent Crude rising over 1.2 per cent to $66.27 per barrel, while WTI Crude saw an increase of nearly 1.4 per cent, trading at $62.59 per barrel. The Federal Reserve’s September meeting minutes revealed a cautious but clear inclination among policymakers to begin lowering interest rates further this year, though concerns over persistent inflation continue to temper the pace of any policy shift. The ongoing federal government shutdown in the US, triggered by a budget impasse, has…

South African Rand Rises vs. USD as Gold Breaches Barrier The South African rand traded around 17.2 per US dollar in the forex market, its highest in two weeks, mainly supported by the rising prices of precious metals, particularly gold, far outpacing the modest rise in the dollar. ZAR popped higher the day after the report of declining South African foreign reserves, which some analysts linked to a steep tariff slammed on the country by the United States. Gross foreign exchange reserves in South Africa dropped to $69.74 billion in September 2025, down from a record high of $70.42 billion in the…

US Energy Agency Raises Oil Price Forecasts for 2025, 2026 The US Energy Information Administration (EIA) has revised its average crude oil price forecasts upward for 2025 and 2026, citing developments in global oil markets. In its Short-Term Energy Outlook (STEO) released Tuesday, the EIA raised its 2025 average Brent crude price forecast to $68.64 per barrel, up from $67.80, while West Texas Intermediate (WTI) was revised to $65 per barrel from $64.16. Despite growing global oil inventories, prices have remained relatively stable in recent months. The EIA said this is partly due to China’s strategic stockpiling, which has likely…

Oil Rallies as U.S Job Data Fuels Fed Rates Cut Expectation Prices of crude oil increased on Wednesday as weak U.S. job data continued to fuel expectations that the Federal Reserve will maintain a dovish stance. Oil prices surge was also bolstered by the OPEC+ group’s cautious production at the time the EU and G7 extended sanctions on Russian crude oil exports. The geological tensions in the Middle East and the Russia-Ukraine war heightened supply risks amidst uncertainties around global demand in 2025. OPEC+ members’ plan to increase output has been projected to raise aggregate supply. Brent crude was trading…

Forensic Examination in Emefiele’s $4.5bn Fraud Trial Faces Setback Forensic examination of a phone and WhatsApp chats in the $4.5 billion fraud trial of former governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has suffered a major setback. This was revealed on Tuesday at an Ikeja Special Offences Court. The examination, meant to be conducted jointly by experts from the prosecution and defence, failed to proceed due to disagreements over execution modalities. Emefiele is facing a 19-count charge bordering on receiving gratification and corrupt demands. His co-defendant, Mr Henry Omoile, faces a three-count charge for unlawful acceptance of…

New Tax Law – FG to Protect Low-Income Earners –Oyedele The Presidential Fiscal Policy and Tax Reforms Committee says about 98 per cent of Nigerian workers will be exempted from paying Pay-As-You-Earn (PAYE) tax under the new tax laws. The new tax laws had been scheduled to take effect from January 2026. The Chairman of the committee, Mr Taiwo Oyedele said this at the 31st Nigerian Economic Summit (NES31) in Abuja on Tuesday. He said that the reforms were designed to protect low-income earners and those living around the poverty line, while ensuring fairness and efficiency in Nigeria’s tax administration.…

British Pound as Dollar Rebounds Amidst U.S Govt Shutdown The British pound slides versus the U.S. dollar amidst the American government shutdown. GBP/USD declined after failing to clear 1.3464, and the US dollar registered gains amid the ongoing US government shutdown. Also, political jitters from France caused UK bonds to slide as the French government was getting into deeper trouble. The French Prime Minister, Sebastian Lecornu, quit hours after naming his picks for top roles. The dollar traded near session highs late in the European time on Tuesday. The French crisis has not been resolved, and the policy mix advocated…

Non-Interest Capital Market in Nigeria Worth N1.6 trn -SEC The Securities and Exchange Commission (SEC) says the country’s non-interest capital market is valued at N1.6 trillion. Dr Emomotimi Agama, the Director-General of SEC, said this in Abuja on Tuesday at a pre-news conference in preparation for the 7th African International Conference on Islamic Finance (AICIF) scheduled between Nov. 4 and 5. Agama said that Sukuk carried the large chunk of the money with 700 per cent over-subscription of the last Sukuk issuance which underscored the massive investor confidence the country had built. He said that the development demonstrated a robust…

CBN Turns Down 97% of N4.1 Trillion OMO Bills Subscription The Central Bank of Nigeria (CBN) turned down more than 97% of the total subscription received for its open market operation bills, according to auction results. To manage excess liquidity level in the financial system, the Apex Bank floated N600 billion worth of OMO bills for subscriptions yesterday. The authority had been absent from the market, a development that triggered a spike in financial system liquidity. Details from its Monday open market operation showed that the Nigerian OMO bills offer size was split across the short-term tenors -85 days, 99…

Oil Prices Edge Higher Amidst  OPEC+ Plan to Hike Output Prices of crude oil surged in the global commodity market on Monday as demand and supply uncertainties persisted. Prices increased as OPEC+ revealed a plan to boost output by 137,000 barrels per day in November. Brent crude was trading at $65.34 per barrel, up 1.6% from the previous close of $64.28. The US benchmark West Texas Intermediate (WTI) increased by 1.7% to $61.54 from $60.51 in the prior session. Signs of weakness in the US labor market reinforced dovish expectations for the Fed, helping to sustain risk appetite in global…