- ChatGPT, Claude, Grok Others Down as AI Bots Malfunction
- Nigeria, IEA Sign Energy Data Partnership
- FTSE Frontier Reclassification: 10 Nigerian Equities Set for Greater Global Investor Attention
- SEPLAT, UPDCREIT Boost NGX Index, Investors Gain N238bn
- BTC, ETH, XRP Rally Boost Global Crypto Market Cap to $2.7trn
- NAICOM Unveils ISSP to Advance Insurance Penetration
- Asian Nations Rush to Expand Energy Storage After Strait of Hormuz Crisis
- Bank of Industry Signs N274.18bn Development Bond
Author: Olu Anisere
Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.
BPP Urges SSDC to Prioritise Compliance With Procurement Act Dr Adebowale Adedokun, Director-General, Bureau of Public Procurement(BPP), has urged the South-South Development Commission (SSDC) to strictly comply with the Public Procurement Act, 2007. This is contained in a statement issued by Zira Nagga, BPP’s Head of Media and Public Relations, in Abuja on Monday. According to Nagga, Adedokun gave the charge while delivering a virtual lecture at a two-day induction programme for members of the SSDC Board and Senior Management. He said the programme was organised by the Bureau of Public Service Reforms (BPSR) and the SSDC. Adedokun, who spoke…
The Nigerian stock market edged higher on Monday as investors gained more than N288 billion following a sharp positive price appreciation in some tickers.
FG Tightens Budget Rules, Bars MDAs from Awarding Unfunded Contracts The Federal Government has barred Ministries, Departments and Agencies (MDAs) from awarding contracts, signing agreements or incurring financial obligations without approved expenditure warrants and cash backing, in a move aimed at strengthening fiscal discipline and improving public financial management. The directive, contained in a Federal Treasury Circular dated July 31, 2026, introduces stricter guidelines for implementing the 2026 capital budget as the government seeks to curb the award of unfunded contracts and ensure that spending aligns with available resources. Signed by the Accountant-General of the Federation, Shamseldeen Ogunjimi, the circular…
FGN Offers 2 Savings Bonds for Subscription at N1,000 Per Unit The Debt Management Office (DMO), on behalf of the Federal Government, has announced an offer of two FGN bonds for subscription at N1,000 per unit. According to the DMO, the first offer is a two-year FGN Savings Bond due Aug. 12, 2028, at an interest rate of 13.96 per cent per annum. The second offer is a three-year FGN Savings Bond due Aug. 12, 2029, at an interest rate of 14.96 per cent per annum. It said that the opening date for the offer is Monday (today), while the…
The global equity markets’ performance was mixed, with US and European stocks closing relatively stronger while Asian indicators diverged last week.
Crude oil prices declined in the global commodity market on Monday as US-Iran agreed to resume peace talks after a show of strength between the warring nations.
CPPE Seeks Reform of Development Finance The Centre for the Promotion of Private Enterprise (CPPE) has called for comprehensive reforms to Nigeria’s development finance architecture to bridge a financing gap exceeding N50 trillion. The organisation said the deficit was limiting growth across manufacturing, agriculture, agribusiness, micro, small and medium enterprises, and export-oriented businesses. CPPE Chief Executive Officer, Dr Muda Yusuf, made the call in a policy brief issued on Sunday in Lagos. Yusuf said Nigeria’s productive sectors faced structural financing constraints driven by high lending rates, short loan tenors and stringent collateral requirements. He added that limited access to long-term…
Trump Halts Planned Iran Strike Amid Peace Push U.S. President Donald Trump said on Saturday that he has suspended plans for a major military strike on Iran after claiming that Middle Eastern allies had reached the framework of a potential agreement aimed at ending the five-month conflict. In a post on his Truth Social platform, Trump said he had decided to cancel the planned attack to allow diplomatic efforts to continue, expressing optimism that negotiations could lead to a broader peace agreement between Iran, Israel and the United States. “Based on this request, I have agreed, for the future benefit…
XRP price rose by 1.8 % to $1.08, outperforming a nearly flat Bitcoin, primarily driven by Ripple’s strategic monthly escrow release, which reduced net selling pressure ahead of the key update.
Tier-2 lender Wema Bank Plc shrank in market value as investors bet against the financial services company’s weak earnings per share delivered in the first half of 2026.