Author: Olu Anisere

NAFDAC Seals 2 Chinese Supermarkets in Abuja The National Agency for Food and Drug Administration and Control (NAFDAC) on Thursday in Abuja sealed two Chinese supermarkets in the Federal Capital Territory (FCT). The supermarkets, which are located at No. 40 Mike Akhigbe way, Jabi and No. 61, Ebitu Ukiwe Street, also in Jabi, were sealed for selling goods that were allegedly not approved in the country. The agency also put on hold eight other shops at the Wuse market for selling aphrodisiac sex enhancement pills. They were also found to be selling body enlargement creams and drugs for breast and…

Oil Prices Increase as G7 Targets Russian Crude Buyers Oil prices rose in the global commodity market on Thursday after the Group of Seven advanced economies (G7) revealed a plan to put pressure on countries buying crude oil from Russia. Geological tensions – Middle East unrest – continue to impact the supply side, including lower China demand, while India and Russia maintain an oil deal relationship, which has resulted in sanctions from the US. The global market saw a rebound as investors weighed a larger US crude stock build against fresh signals the Group of Seven (G7) nations will tighten…

Money Market Liquidity Climbs to N6.6trn, CBN Refunds CRR Excess liquidity surged to about N6.6 trillion in the money market as the Central Bank of Nigeria (CBN) ignored a series of additional inflows from expired instruments. The authority’s absence from the market kept liquidity flowing, while deposit money banks (DMBs) stepped up placements at the CBN Standing Deposit Facility (SLF). After its interest rate adjustment, the CBN refunded some banks for excess cash reserve ratios on deposit, supporting liquidity growth.Interbank rates trend lower, below 35%, reflecting both the liquidity size in the banking system and the adjustment to the monetary…

Fidelity Bank Fires Up, Investors Ignore Earnings Delay In the first two trading sessions this week, Fidelity Bank Plc had delivered about 14% price upticks, rising from N18.45 per share from Friday’s close to N21 – now trading near its highest valuation in 52 weeks. The price appreciation posted in two days eclipsed the 5.4% year-to-date return delivered in roughly nine months. Fidelity Bank fired up as investors’ sentiment improved, though sustaining price level remains a top question about one of the volatile financial stocks in the local bourse. Historical trading data obtained from the Nigerian Exchange revealed that Fidelity…

Court Strikes Out Saraki’s Suit Against EFCC, ICPC, Others The Federal High Court in Abuja, on Tuesday, struck out two separate suits filed by former Senate President, Bukola Saraki, to seek court protection against the plan by EFCC to probe him. Justice Mohammed Umar struck out the two cases following a notice of discontinuance of the suits sighted in the court record and after no lawyer appeared for parties at the resumed hearing. The former Senate president had filed the suits following the EFCC’s decision in 2019 to probe Saraki’s earnings between 2003 and 2011 when he was governor of…

Brent Nears $69 as Geopolitical Tensions Fuel Supply Risks Brent surged near $69 per barrel in the global commodity market on Monday as oil prices inched up, supported by persistent geopolitical tensions that heightened supply concerns. The supply fear offset price pressure emanating from the resumption of oil flows from Iraq’s Kurdish region and expectations of higher OPEC production. Brent crude was trading at $68.80 per barrel, up 0.2% from the previous close of $68.69. US benchmark West Texas Intermediate (WTI) increased by 0.2% to $65.09 from $64.98 in the prior session. Ukraine said on Sunday that four people were…

Dollar Switches to Defend Position amidst U.S Shutdown Risks The US dollar starts the new week on the softer side after solid gains last week as the greenback defends positions against its major trading partners across currency markets. The greenback was on the defensive on Monday ahead of a slew of U.S. economic releases that could provide further clarity on the Federal Reserve’s rate path, while the growing risk of a government shutdown there also came into sharp focus. Data showed that dollar index (DXY) retreated amidst concern over a U.S government shutdown. FX majors are gaining against a softer…

Fidelity Bank Drops by 11% amidst Lingering Earnings Delay Tier-2 lender with a ‘hanging’ judgement debt Fidelity Bank Plc lost more than 11% of its market value on the Nigerian Exchange (NGX) as investors wound down positions amidst sustained delay in earnings release. Trading data from the Nigerian Exchange (NGX) showed that the market value of Fidelity Bank Plc’s 50.212 billion shares outstanding was reduced below N1 trillion. This confirmed its shareholders are getting tired of the earnings delay, fuelling random sell pressures. Fidelity Bank’s share price declined to N18.45 as 10.117 million units valued at N207.440 million were traded…

MTN Nigeria Shrinks as Investors Sentiment Wanes Ahead of Q3 Telecom giant MTN Nigeria Plc’s market value declined by 3.44%, which is approximately N315 billion, as investors trimmed their shareholdings in the telecom company. The telecom company’s market value surpassed N10 trillion after the management released the first half of 2025 earnings. While the earnings pumped MTN Nigeria, investors seeking to take profit then dumped the stock. The pump and dump of the share price has pulled the company’s market value down sharply in a few weeks, while Q3 earnings release is anticipated to fuel another rally. Last week, MTN…

FirstHoldco Slips Amidst Huge Trading Volume, YTD Return Eased FirstHoldco Plc’s market value slid softly in the equities market amidst huge trading fuelled by some negotiated off-market deals. At a reference share price of N31.90, First Holdco delivered a 12.66% year-to-date (YTD) return. The return declined following a soft price decline to N31. Trading data from the Nigerian Exchange showed tight price movement in the financial services company kept its market value hovering behind N1.3 trillion. In 2025, First Holdco missed the upside valuation adjustment festival in the Nigerian stock market. Despite similar fundamentals, the market value of FirstHoldco hovered…