Author: Olu Anisere

Equatorial Guinea’s economic activity is estimated to have contracted by 6.4% in 2025, owing to a large fall in hydrocarbon production, the International Monetary Fund (IMF) hinted following a meeting with the authorities.

GCR Assigns AA-(NG) Rating to Lagos State N230bn Bonds GCR Ratings has assigned a national scale long-term issue rating of AA-(NG) to Lagos State Government’s N230bn Series 4 Senior Unsecured Fixed Rate Bonds, with the outlook accorded as stable. Rating analysts said Lagos State Government of Nigeria raised NGN230 billion in Series 4 Senior Unsecured Fixed Rate Bonds from the Nigerian capital market at 16.25%, under its NGN1 trillion debt and hybrid instrument issuance Programme, registered in May 2023. The rating assigned to the bonds reflects the national scale long-term rating of the issuer. This is because the bonds bear…

Oil Market Sees Weekly Drop in Prices as Supply Risks Ease The oil market recorded a weekly drop in prices of crude per barrel as global supply risks eased following U.S and Iran diplomatic talks in Oman on Friday. Easing geopolitical tensions between the US and Iran reduced risk premiums and shifted market focus toward improving supply expectations. Meanwhile, supply disruptions, sanctions-driven trade shifts, and persistent regional risks prevent a deeper decline. Brent crude traded at $67.40 per barrel, down 3.3% from last Friday’s close of $69.73. US benchmark West Texas Intermediate (WTI) fell 3.5% to $63.15 per barrel, compared…

On Friday, crude oil prices fell, while attention remains focused on the impending discussions between the U.S. and Iran set to take place in Oman.

Ethereum Loses 11% on Crypto Investors’ Flight to Safety Though trading signals indicate recovery is on pace, Ethereum (ETHUSD) has lost about 11% in the last 24 hours in the cryptocurrency market on Friday. Ethereum is down 10.90% to $1,900.31 in 24h, underperforming a broader market sell-off primarily driven by a cascading liquidation event and extreme risk-off sentiment. Ethereum’s drop is part of a violent market-wide deleveraging event, compounded by defensive rotation away from altcoins. The market-wide deleveraging and liquidations, with over $1.28 billion in Bitcoin liquidations sparking a cross-crypto cascade. Crypto analysts said capital rotation into Bitcoin during “Bitcoin…

Bitcoin (BTC) and Ethereum (ETH) are trading at new lows across the crypto market as the global market capitalisation of all digital assets plunged to $2.4 trillion on Thursday.

Stakeholders across government, private sector and regulatory agencies have underscored the central role of trust

Havertz Sinks Chelsea as Arsenal Reach League Cup Final Arsenal reached the League Cup final after edging Chelsea 1-0 at the Emirates Stadium, completing a 4-2 aggregate victory. Former Chelsea forward, Kai Havertz, struck in injury time, sealing the semi-final second-leg win and sending Arsenal into their first final since 2018. The opening hour was cagey, with both goalkeepers largely untested as the tie remained delicately balanced. Chelsea Coach Liam Rosenior introduced Cole Palmer and Brazilian winger Estevao to inject attacking urgency. Alejandro Garnacho, scorer of Chelsea’s two first-leg goals, later joined the push as the visitors searched for an…

FirstHoldco Drops Sharply after Poor Earnings Performance Non-operating company of First Bank of Nigeria Limited, First Holdco Plc, dropped about 8.8% of its market value as investors trimmed their holdings in post-earnings run-off. The sharp price correction was triggered by signficant year on year decline in profitability performance, reducing bargain hunting in a stock with intrinsic volatility amidst a tough outlook in the banking sector. First Holdco trading data obtained from the Nigerian Exchange showed that the financial services company’s share price declined to N41.05 as 27.6 million units valued at N1.133 billion were transacted on Monday. The huge trading…

Naira Falls to N1,390 Per Dollar as FX Payments Increase The naira fell against the US dollar at the official window on Monday as international transaction payments eclipsed FX liquidity in the currency market. The Central Bank said in its daily FX update that the local currency lost N3.81 per dollar as the Nigerian Foreign Exchange Market (NFEM) opened the month of February on a weak note. FX traders said the decline in value was driven by stronger demand compared to the available supply as the Naira traded within the ₦1,381/$ and ₦1,396/$ band during the session before settling at…