- S&P 500, Euro Stoxx 50 Rally as US Rate Hike Bets Ease
- Linkage Assurance Delivers Impressive Half-Year Earnings Amidst Underwriting Pressure
- ABC Transport Faces Several Margin Contractions Despite Revenue Growth
- XRP Ticks as Successful Payments Processed on Ledger Spikes
- South African Rand Steadies as Fed Rate Hike Bets Ease
- Nigerian Naira Extends Rally as Corporates’ FX Demand Reduces
- CBN Allots N2.6trn as OMO Bills Subscription Tops N4.6trn
- Nigerian Exchange Heads South, Equities Investors Lose N613bn
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.
The rand is firmer against crosses, including the dollar (USD), the Euro (EUR) , and the British pound (GBP),
Global equity markets advanced, with Wall Street closing higher after buying interest in major technology companies following earnings releases.
The overnight lending rate dropped slightly as financial system liquidity conditions
Oando Half-Year Revenue Hits N2.1 Trillion, Up 20% Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation. The company disclosed this in its unaudited financial results released on Tuesday in Lagos. It also reported an eight per cent increase in profit after tax to N68.6 billion, while gross profit surged by 331 per cent to N101 billion during the review period. The company’s average daily production rose by 16 per cent to 42,789 barrels of oil equivalent…
The Nigerian naira firmed to ₦1,362.5543 per US dollar at the official window on Tuesday, as forex supply eclipsed international payment requests.
Deposit Money Banks (DMBs), foreign portfolio investors (FPIs) chased Nigerian OMO bills with total subscription of N2.2 trillion, surpassing the offer size.
Wall Street and European markets rally in anticipation that lower oil prices will reduce global inflation risk
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…