Author: Olu Anisere

Atiku Warns Of Constitutional Breach over Tax Acts Gazetting Former Vice President of the Federal Republic of Nigeria, Atiku Abubakar, on Sunday warned of a constitutional breach over tax act gazetting. In a statement in Abuja, Abubakar said that the senate’s confirmation that the gazetted tax act differs from what was passed by the lawmakers raised constitutional concerns and questioned the integrity of Nigeria’s law-making process. Abubakar said that any law published in a form never passed by the parliament was not a law but a nullity. “Section 58 of the Constitution outlines law-making clearly, requiring passage by both chambers,…

CBN Delivers Inflation-Protected Rates on Nigerian Treasury Bills The Central Bank of Nigeria (CBN) delivered inflation-protected spot rates on Nigerian Treasury bills in 2025 despite a sustained reduction in headline inflation. The monetary policy authority rates pricing came in contrast to market expectation, and the surprise spot rates adjustment dislocated projections, an expectation that confused some economists. The CBN increased risk premium on Treasury bills amidst disinflation, and stability of the local currency signals a possible plan to print money, some analysts said, noting widening real interest rate. Nigeria, with a benchmark interest rate of 27% chasing a 14.45% consumer…

Bitcoin Breaks Value, Drops 7% YTD on Heightened Volatility Bitcoin (BTCUSD) breaks investors’ portfolio value year to date (YTD), losing 7% of its opening value at the current price of $87,854, reflecting weak investors’ sentiment from $93,425 at the beginning of 2025.  Trading details across exchanges showed BTC hit an all-time high of $126K in July–August 2025, driven by U.S. institutional adoption and Donald Trump’s Strategic Bitcoin Reserve plan. However, prices collapsed in October after $19 billion in liquidations triggered by new U.S.-China tariffs, ending the rally and pushing BTC below $90,000. Despite increasing adoption, the world’s largest digital asset…

Zcash Tops Cryptocurrency Performers, Gains 652% YTD Decentralized cryptocurrency focused on privacy and anonymity Zcash (ZECUSD) gained about 15% on Saturday, settling at $513 as investors sentiment improved. The latest rally has pushed the coin’s year-to-date gain to 652% at the time of writing amidst uncertainties and significant price swings in the crypto market. The coin closed at $61.27 in 2024 and has started tracking above $500, ranking among the best performers in the crypto space. With mouthwatering performance so far in 2025, analysts said Zcash’s shielded supply and institutional adoption position it as a compliance-friendly privacy leader. Trading details…

Prices of Crude Oil Little Change over Soft Trading Global prices of crude oil were little changed on Friday, as thin holiday trading and heightened geopolitical risks lent modest support to prices. International benchmark Brent crude futures was trading at $62.33 per barrel, up 0.1% from the previous close of $62.24. US benchmark West Texas Intermediate (WTI) also increased by 0.01% to $58.54, compared to $58.53 in the prior session. Trading volumes remained subdued as many major markets were closed on Thursday due to the Christmas holiday, with liquidity still thin in global markets. The modest uptick in prices was…

Tinubu Assures Nigerians Security Gains, Backs State Policing President Bola Tinubu has assured Nigerians that the ongoing recalibration of the nation’s security architecture would soon yield results capable of restoring public confidence. The president gave the assurance on Friday during a meeting with a delegation of the Christian Association of Nigeria (CAN), led by its president, Archbishop Daniel Okoh, at his Lagos residence. This is contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga. Tinubu said his administration remained committed to security sector reforms, including the establishment of state and community policing to address emerging threats across the…

Nigeria, China Sign MoU to Localise Energy Infrastructure The Presidential Initiative on Compressed Natural Gas (Pi-CNG) and Electric Vehicles (EVs) has signed an agreement with You Jie Te Environment Technology Ltd (YJT) to localise the manufacturing of critical energy infrastructure in Nigeria. The Memorandum of Understanding (MoU) was signed when Mr Ismaeel Ahmed, Executive Chairman, PiCNG led a delegation on a five-day working visit to the factories and corporate offices of YJT in Chengdu and Hangzhou, China. The partnership is focused on localising the manufacturing and assembly of critical energy infrastructure in Nigeria, including CNG dispensers, refuelling stations, and electric…

Bitcoin Cash Investors Gain 3.7%, YTD Return Improves Bitcoin Cash (BCHUSD) investors gained 3.7% as the cryptocurrency market struggles to keep the uptrend due to mixed sentiment and regulatory and macroeconomic uncertainties. Trading patterns showed that Bitcoin Cash navigates technical resistance and ecosystem growth as whale activity signals cautious optimism; its price has continued to make an uptrend. The positive price movement of BCHUSD reflects strategic partnerships, whale positioning, and a technical setup favouring bulls. The altcoin traded at $604.82 at the press time, up by 3.71% in the last 24 hours with $411.47 billion in trading volume on Friday.…

Naira Poises for Strong Year-End as CBN Funds Liquidity Gap The Nigerian naira picked up momentum against the US dollar at the official window as year-end pressure eased with support from the Central Bank (CBN) interventions. The Apex Bank stepped up its market intervention strongly in the fourth quarter due to heightened US dollar demand pressures. To stabilise the naira, the CBN funded FX gap amidst fluctuating inflows. According to a daily FX update released by the CBN, the spot FX rate appreciated by 0.46% to ₦1,443.38/$ at the official window on Wednesday. The exchange rate appreciation signals that pressure…

Nigeria’s Budget Deficit Reduces by 16% to N2.66 trn in Q2 The federal government posted a 16% year-on-year decline in fiscal deficit, settling at N2.66 trillion in Q2; financed entirely through domestic borrowing in the second quarter of the year, according to the Budget Office of the Federation (BoF). Data contained in the Second Quarter and Half-Year 2025 Budget Implementation Report (BIR) by the BoF noted that the deficit was financed through domestic borrowing in the quarter under review. Total budget deficit on record was about 25% below FG’s projection of N3.58 trillion for the period. Nigeria’s N2.66 trillion fiscal…