- 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.
CBN Urges Adoption of Alternative Payment Channels for Financial Inclusion The Central Bank of Nigeria (CBN) has called for increased adoption of alternative payment channels to deepen financial inclusion and accelerate economic development across the country. Hakama Sidi-Ali, the Acting Director, Corporate Communications and Investor Relations Department of the CBN, made the call during the 2026 CBN Fair held in Lokoja, Kogi on Thursday. The theme of the event was “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development.” Sidi-Ali, represented by the Branch Controller of the CBN Lokoja Branch, Mr Zubairu Salihu, said the…
Why FG Won’t Disclose $5bn Abu Dhabi Loan Use – Taiwo Oyedele The Federal Government says it will not publish a separate breakdown of its $5 billion loan facility with First Abu Dhabi Bank, Finance Minister Taiwo Oyedele disclosed Wednesday in Abuja.. Oyedele said Nigeria has drawn $1.5 billion from the $5bn Total Return Swap facility approved by the National Assembly on March 31, 2026, to fund the 2026 budget and refinance expensive debt, despite concerns raised by the IMF and Fitch Ratings. Nigeria recently drew $1.5 billion as the first tranche of the $5 billion Total Return Swap programme…
China Urges U.S. to Repeal Drone Tariffs China on Thursday urged the United States to immediately repeal Section 232 tariffs on drones and drone parts, saying the measures harm Chinese firms and disrupt global supply chains. He Yadong, Spokesperson for China’s Ministry of Commerce, made the call at a regular media briefing in Beijing. He said China had consistently opposed the U.S. Section 232 measures, describing them as unilateral and protectionist actions imposed under the pretext of national security. According to him, Chinese drones exported to the United States are mainly used for civilian purposes. He listed agriculture, equipment inspection,…
Yuan Strengthens 6.7808 Against Dollar The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 46 pips to 6.7808 against the dollar on Thursday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. #Yuan Strengthens 6.7808 Against Dollar#…
Excess liquidity in the money market kept funding costs stable at around 22%, reflecting the absence of significant pressure from the Central Bank’s operations.
The Nigerian naira pulled back against the US dollar (USD), Euro (EUR), British pound (GBP), and Japanese Yen
Ethereum (ETH) price jumped by about 11% to $2,114.01 on Wednesday, significantly outperforming the broader market rally, driven primarily by a macro-fueled short squeeze.
Global equities markets indicators edged lower again amid growing risk aversion, with investors replacing risky assets with bonds following a sharp rise in US Treasury yields.
Interbank rates remained largely unchanged as the money market remained flooded with excess liquidity of about N5 trillion on Tuesday…
With a downtrend in US and European stocks, global equities market indicators declined as rising energy costs shifted investor sentiment away from riskier assets.