Author: Olu Anisere

Africa Finance Corporation (AFC) has announced the successful closing of a US$100 million, 5-year loan facility from the Export-Import Bank of India, further strengthening its long-standing partnership with the institution.

Oil Outlook Tightens, Prices Surge as U.S. Seizes Iran Vessel Reflecting lingering supply risk, oil prices rose on Monday after the United States seized an Iranian vessel and Tehran reclosed the Strait of Hormuz, heightening concerns over disruptions to global supply. International benchmark Brent crude traded at $95.32 per barrel, up around 5.5% from the previous close of $90.38. US benchmark West Texas Intermediate increased about 6% to $87.56 per barrel, compared with $82.59 in the previous session. US President Donald Trump said Sunday that American naval forces intercepted and disabled an Iranian-flagged cargo ship that attempted to breach the…

XRPUSD Dips to $1.40 as Buying Momentum Eases Ripple (XRPUSD) dipped to $1.40 over the past 24h, closely tracking a broader market pullback driven by renewed geopolitical uncertainty. XRP price had hit $1.50 before it faced technical rejection. More than a specific bearish touch, the token price move reflects a risk-off shift across crypto as traders digest conflicting reports on Middle East tensions. Investors witnessed a broader market sell-off led by Bitcoin, triggered by mixed geopolitical signals around the Strait of Hormuz and U.S.–Iran negotiations. XRP’s decline mirrors Bitcoin’s 1.78% drop, as the entire crypto market turned risk-off. Conflicting reports…

Mr Taiwo Oyedele, Minister of State for Finance, has dismissed reports alleging hidden spending and diversion of federation revenue, describing it as misinterpretations of the World Bank Nigeria Development Update.

PAMA Flags Persistent Trade Barriers Amidst AfCFTA The Pan African Manufacturers Association (PAMA) has raised concerns over persistent barriers hindering cross-border trade despite the African Continental Free Trade Area (AfCFTA) PAMA President, Mr Mansur Ahmed, disclosed this in a statement to journalists on Sunday in Lagos. He noted that intra-African trade in manufactured goods remained low, accounting for about 18 per cent of total continental trade. According to him, this is far below Europe’s 60 per cent, highlighting deep-rooted structural challenges predating AfCFTA. Ahmed said Africa’s trade architecture, anchored on regional blocs, had yet to enable seamless cross-border trade, with…

Oil market ended the week mixed, with a surge in Brent price on concerns over potential supply disruptions linked to a possible US blockade of the Strait of Hormuz, while easing geopolitical tensions and revived hopes for talks with Iran pressured the market.

NGX Posts N8.66trn Weekly Gain Amid Trading Surge The Nigerian Exchange Ltd. recorded a strong weekly performance, with investors gaining N8.661 trillion amid heightened trading activity. Market capitalisation rose by 6.60 per cent to N139.827 trillion from N131.166 trillion. The NGX All-Share Index climbed by 6.57 per cent to 217,167.57 from 203,770.43 recorded in the previous week. The NGX report on Saturday noted investors recorded a total gain of N8.661 trillion within the review period. A total turnover of 3.588 billion shares valued at N195.313 billion was traded in 254,553 deals. This compares with 3.361 billion shares worth N151.948 billion…

Nigeria Deepens Regional Influence With $500K Investment The Federal Government of Nigeria has committed 500,000 dollars to AFRITAC West 2 Phase III, reinforcing efforts to strengthen policy capacity and macroeconomic management across West Africa. The agreement was signed during the IMF/World Bank Spring Meetings involving senior officials from the International Monetary Fund (IMF) and the Central Bank of Nigeria (CBN), on Friday in Washington. AFRITAC West 2 (AFW2) is an IMF-supported regional technical assistance centre based in Accra, Ghana, that strengthens economic institutions in six West African nations, Cabo Verde, the Gambia, Ghana, Liberia, Nigeria, and Sierra Leone. As part…

CBN, FMDA Announce New Money Market Benchmark The Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers. Association (FMDA), has announced the introduction of the Nigerian Overnight Financing Rate (NOFR). Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, (NOFR) said this in a statement issued in Abuja on Friday. According to Sidi-Ali, this is a standardised benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s money market. Sidi-Ali said that NOFR was developed to align Nigeria with global best practices in short-term interest rate benchmarks. According to her, it is expected to improve…

Solana’s (SOL) price climbed 3.33% to $87.90 on Friday as investors rallied their positions amid a sharp increase in Solana’s non-USDC (Cycle)/USDT (Tether) stablecoin supply.