Author: Olu Anisere

SAMTL Opens Access to Mixed Income Fund Investment Nigerian-based investment firm SAMTL Fund Manager has opened investors’ access to its mixed income fund with a competitive return from diversified investment portfolios. The mixed income fund from SAMTL was designed to cater to investors that seek to access investment opportunities across the financial markets without taking excess risks. The company will invest the money pool from investors with similar appetites in Nigerian bonds, equities, and money market placement, according to an emailed note. “With the SAMTL Mixed Income Fund, you can access opportunities in the equity, money, and fixed-income markets for…

British Pound Nears 6-Month High on Surprise GDP Growth The British pound, or sterling, climbed past $1.30, moving closer to a six-month high of $1.31 on April 3, after UK gross domestic product (GDP) growth surprised to the upside with 0.5% growth in February—five times the expected pace. All major sectors contributed, and stronger factory output hinted at stockpiling ahead of Trump’s aggressive new tariff measures. The solid data led traders to slightly reduce expectations for rapid Bank of England rate cuts, though three quarter-point cuts are still priced in for 2025. Sterling also benefited from a softer dollar as…

Oil Sets for Bearish Close as China Hits Back at U.S Tariff Hike Oil prices are set for a negative close as China hit back at the U.S. in a tariff combat that has stoked pressure across the market. The US global trade war has become dirty between the two giant economies after the U.S. President, Donald Trump, excluded Chinese from a 90-day tariff pause.  Brent had fallen below $60 per barrel during the week but recovered as the European Union stayed action on a retaliatory tariff response and chose to negotiate instead.  On Friday, oil prices lose ground as…

Money market rates pricing experienced mild pressures over liquidity drag, though the financial system funding profile

NPA Establishes Export Process Terminal to Simplify Nigerian Goods Exportation The Nigeria Ports Authority (NPA) says it has established the Export Process Terminal (EPTs) to simplify the process of exporting Nigerian goods. The Principal Manager Tariff and Billing, Mr Asuquo Okon, made the disclosure during the NPA’s special day at the ongoing Enugu International Trade Fair in Enugu on Thursday. Okon said EPTs were conceptualised to serve as a one-stop-shop of cargo consolidation, stuffing, documentation, packaging, certification and onward shipment through electronic call-up of the Ports in quick turnaround time. He hinted that the intervention was to eliminate duplications and…

Traditional European Banks Under Pressure as Neobanks Expand Europe’s traditional banks are said to be heading into tougher times, according to a report by Strategy& the strategy consultancy arm of global accounting firm PwC as reported on Thursday. Analysts cite two main challenges which include the fading boost from higher interest rates and mounting pressure from digital-only challengers like neobanks, modern alternatives to traditional banks which usually have no physical branches. The study focused solely on retail banking. Profits at European banks raised another four per cent in 2024, mainly due to higher interest rates. The costs also increased by…

LCCI, Confederation of Indian Industry Mull Partnership for Economic Growth The Lagos Chamber of Commerce and Industry (LCCI) and the Confederation of Indian Industry (CII) has mulled defence, agriculture, pharmaceuticals and technology sectors partnership for economic growth. Mr Gabriel Idahosa, President, LCCI, at the Nigeria-India Business-to-Business Meeting in held in Lagos on Thursday, said the collaboration poised to unlock the immense potential of both countries. Idahosa revealed that Nigeria and India had a history of cooperation in defense, characterised by knowledge exchange and capacity building. He noted that security was the bedrock upon which economic prosperity was built, and that…

Nigeria Needs 40% Growth to Withstand U.S. Tariff Shock – Yemi Kale An economist, Dr. Yemi Kale, says Nigeria requires 40 per cent annual growth rate to cushion the potential negative impact of the United States’ (U.S.) recent tariff hike on its one trillion dollar economic growth vision.Kale, who is the Group Chief Economist and Managing Director, Research and Trade Intelligence, Afreximbank, said this on Wednesday in Lagos at the 2025 Vanguard Discourse. He urged the government to implement policies that foresee and mitigate the impact of the U.S. tariff hike on Nigerian exports. He called for sustainable reforms that…

DMO Needs to Hike Rates to Keep Foreign Investors – Investment Firm With the latest round of foreign portfolio investors rotating out of naira-priced assets, Nigeria’s top investment banking firm has advised the Debt Office to increase spot rates and fully roll over maturing bills. Naira yields have fallen, thus reducing offshore investors’ initial excitement to bring a flood of US dollars into the Nigerian debt market.  The fixed income market situation worsened in the recent past week as foreign investors sought flight to safety amidst the US-initiated global trade isolation policy. Much of the worry about Nigeria is about…

Afreximbank to Establish Trade Centres in Africa’s Commercial Capitals The African Export-Import Bank (Afreximbank) is setting up trade centres in several major commercial capitals across Africa and the Caribbean as part of its efforts to boost intra-African trade. Dr Robert Tomusange, Director and Global Head of Real Estate and Administration for Anglophone West Africa at Afreximbank, disclosed this while briefing the media on Thursday in Abuja. He said the trade centres, dubbed “The Afreximbank – African Trade Centres (AATCs),” were designed to promote economic diversification and bridge the gap in trade information and facilitation services across the continent. He said…