Author: Olu Anisere

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…

Prices of Crude Oil Little Change over Soft Trading Global prices of crude oil were little changed on Friday, as thin holiday trading and heightened geopolitical risks lent modest support to prices. International benchmark Brent crude futures was trading at $62.33 per barrel, up 0.1% from the previous close of $62.24. US benchmark West Texas Intermediate (WTI) also increased by 0.01% to $58.54, compared to $58.53 in the prior session. Trading volumes remained subdued as many major markets were closed on Thursday due to the Christmas holiday, with liquidity still thin in global markets. The modest uptick in prices was…

Tinubu Assures Nigerians Security Gains, Backs State Policing President Bola Tinubu has assured Nigerians that the ongoing recalibration of the nation’s security architecture would soon yield results capable of restoring public confidence. The president gave the assurance on Friday during a meeting with a delegation of the Christian Association of Nigeria (CAN), led by its president, Archbishop Daniel Okoh, at his Lagos residence. This is contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga. Tinubu said his administration remained committed to security sector reforms, including the establishment of state and community policing to address emerging threats across the…

Nigeria, China Sign MoU to Localise Energy Infrastructure The Presidential Initiative on Compressed Natural Gas (Pi-CNG) and Electric Vehicles (EVs) has signed an agreement with You Jie Te Environment Technology Ltd (YJT) to localise the manufacturing of critical energy infrastructure in Nigeria. The Memorandum of Understanding (MoU) was signed when Mr Ismaeel Ahmed, Executive Chairman, PiCNG led a delegation on a five-day working visit to the factories and corporate offices of YJT in Chengdu and Hangzhou, China. The partnership is focused on localising the manufacturing and assembly of critical energy infrastructure in Nigeria, including CNG dispensers, refuelling stations, and electric…