Author: Olu Anisere

China’s Digital Yuan Action Plan to Take Effect Jan 1, 2026 China will roll out a comprehensive action plan for its digital yuan (e‑CNY) on 1 January 2026, aiming to boost its management, operation, and adoption. The plan, announced by People’s Bank of China (PBoC) Deputy Governor Lu Lei, outlines a measurement framework, management system, operational mechanisms, and an ecosystem to make the digital yuan more attractive to banks and individuals. Key points of the plan include interest‑bearing digital‑yuan balances to incentivize wider use, a proposed international digital‑yuan operations hub in Shanghai to expand global usage, continued pilot testing and expansion of the e‑CNY across…

Foreign Currency Inflow into Nigerian Market Sinks by 95% Total foreign currency inflows into the Nigerian currency market went down sharply by about 95%, a situation that explains the Central Bank’s persistent intervention to keep the naira stable. The Apex Bank has been funding foreign portfolio investors’ exit from the market as market participants rebalanced their fixed-interest securities portfolio ahead of the New Year. With FX sales to banks, and other authorised dealers, the foreign exchange market remained relatively stable, supporting the expectation that the naira will close the year strong.  The Naira strengthened across markets ahead of the Christmas…

Nigeria’s Tax Ombudsman Begins Operations Jan. 1—Official The Office of the Tax Ombudsman of Nigeria says it will commence full operations on Jan. 1, 2026 aimed at resolving tax-related issues. Mr Chukwudi Achife, the Chief Press Secretary to the Tax Ombudsman/Chief Executive Officer, disclosed this in statement on Monday in Enugu. Dr John Nwabueze was recently appointed by President Bola Tinubu as the pioneer Tax Ombudsman and Chief Executive of the Office of the Tax Ombudsman. Achife said that upon announcing Nwabueze as Ombudsman CEO, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, had stated that…

Naira Appreciates by N11 at Nigerian Foreign Exchange Market The naira appreciated against the US dollar as the Central Bank of Nigeria (CBN) continued to intervene in the official currency market to stabilise the rate. Supported by sustained FX intervention by the CBN, the naira appreciated against the US dollar in the Nigerian Foreign Exchange Market (NFEM), gaining ₦11.04 per US dollar at the close of session last week. During the week, the Naira traded in a range of ₦1,431.00 to ₦1,466.00 per US dollar, showing consistent appreciation across all three trading sessions. The spot rate strengthened after the authority…

FG Wipes Out $1.42 bn, N5.57 trn NNPC Debt in Bold Fiscal Reform President Bola Tinubu has approved the cancellation of a massive portion of the debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, wiping out about $1.42 billion and N5.57 trillion after a reconciliation of records between the two entities. The decision was contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and presented at the November 2025 meeting of the Federation Account Allocation Committee (FAAC) . The write‑off follows a comprehensive review of NNPC’s outstanding obligations, which had been reported at $1,480,610,652.58 and N6,332,884,316,237.13…

NNPC to Activate $2.8bn AKK Gas Pipeline for Export in 2026 NNPC Limited would activate its $2.8 billion Ajaokuta-Kaduna-Kano (AKK) pipeline for export early in 2026, its Group CEO Bashir Ojulari said. The update followed a recent tour of the project by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, accompanied by Ojulari, and the Company’s Executive Vice President (Gas, Power, and New Energy), Olalekan Ogunleye. The AKK pipeline, first conceived in 2008, is central to Nigeria’s ambition to leverage its vast gas reserves for economic growth. Its completion could transform the north, where chronic power shortages and…

Atiku Warns Of Constitutional Breach over Tax Acts Gazetting Former Vice President of the Federal Republic of Nigeria, Atiku Abubakar, on Sunday warned of a constitutional breach over tax act gazetting. In a statement in Abuja, Abubakar said that the senate’s confirmation that the gazetted tax act differs from what was passed by the lawmakers raised constitutional concerns and questioned the integrity of Nigeria’s law-making process. Abubakar said that any law published in a form never passed by the parliament was not a law but a nullity. “Section 58 of the Constitution outlines law-making clearly, requiring passage by both chambers,…

CBN Delivers Inflation-Protected Rates on Nigerian Treasury Bills The Central Bank of Nigeria (CBN) delivered inflation-protected spot rates on Nigerian Treasury bills in 2025 despite a sustained reduction in headline inflation. The monetary policy authority rates pricing came in contrast to market expectation, and the surprise spot rates adjustment dislocated projections, an expectation that confused some economists. The CBN increased risk premium on Treasury bills amidst disinflation, and stability of the local currency signals a possible plan to print money, some analysts said, noting widening real interest rate. Nigeria, with a benchmark interest rate of 27% chasing a 14.45% consumer…

Bitcoin Breaks Value, Drops 7% YTD on Heightened Volatility Bitcoin (BTCUSD) breaks investors’ portfolio value year to date (YTD), losing 7% of its opening value at the current price of $87,854, reflecting weak investors’ sentiment from $93,425 at the beginning of 2025.  Trading details across exchanges showed BTC hit an all-time high of $126K in July–August 2025, driven by U.S. institutional adoption and Donald Trump’s Strategic Bitcoin Reserve plan. However, prices collapsed in October after $19 billion in liquidations triggered by new U.S.-China tariffs, ending the rally and pushing BTC below $90,000. Despite increasing adoption, the world’s largest digital asset…

Zcash Tops Cryptocurrency Performers, Gains 652% YTD Decentralized cryptocurrency focused on privacy and anonymity Zcash (ZECUSD) gained about 15% on Saturday, settling at $513 as investors sentiment improved. The latest rally has pushed the coin’s year-to-date gain to 652% at the time of writing amidst uncertainties and significant price swings in the crypto market. The coin closed at $61.27 in 2024 and has started tracking above $500, ranking among the best performers in the crypto space. With mouthwatering performance so far in 2025, analysts said Zcash’s shielded supply and institutional adoption position it as a compliance-friendly privacy leader. Trading details…