Author: Olu Anisere

EFCC Recovers ₦566bn, $411m, 1,502 Assets in 2-Year The Economic and Financial Crimes Commission (EFCC) has recovered over ₦566 billion, 411 million dollars, and 1,502 properties in the last two years under the leadership of its chairman, Ola Olukoyede. The EFCC boss, represented by Wilson Uwujaren, the Director of Public Affairs, made the disclosure in Abuja on Thursday, at a press conference marking his second anniversary in office. Olukoyede, who was appointed on Oct. 18, 2023, and confirmed by the Senate the following day, said the commission had made “unprecedented progress” in its fight against economic and financial crimes across…

Oil Prices Surge as US Hits Russia with News Sanctions In the global commodity market, oil prices surged over 2% during early trading hours on Thursday amid mounting supply concerns following US sanctions on Russia’s two largest oil companies, Rosneft and Lukoil. Brent crude was trading at $64.29 per barrel, up 2.12% from the previous close of $62.95. US benchmark West Texas Intermediate (WTI) also rose 2.3% to $60.53, compared to $59.15 in the prior session. US included Rosneft, Lukoil, and dozens of their affiliates on its sanctions list, citing “a serious lack of commitment” by Moscow to advancing peace…

Money Market Rates Ease as Financial System Liquidity Climbs Money market rates eased as excess liquidity in the banking system increased amidst the Nigerian Treasury bills auction. The authority conducted a primary market auction where N650 billion worth of Treasury bills was floated for investors’ subscription. At the auction, the CBN placed an offer size of N650 billion on the table, but demand came at N750 billion, significantly lower than past auctions—suggesting weak appetite for the naira assets. Banks played soft as the SDF rate of 24.5% stayed ahead of the average yield on Nigerian Treasury bills papers. though liquidity…

Lafarge Africa Grows Profit by 246%, Retains Positive Outlook Lafarge Africa Plc grew profit after tax by 246% year on year to N207.780 billion, according to an unaudited financial statement for 9 months filed on the Nigerian Exchange by the cement company. The cement company posted a strong bottom line as net sales expanded by 68% year on year to N780.496 billion versus N479.496 billion posted in the equivalent period in 2024.  The company attributed net sales growth to uptick in cement volumes and improved plant reliability. Q3 revenue expanded by 43.3% year on year reflecting growth across all major…

Malawi Bans Export of Raw Materials in Mining Industry Malawi has banned the export of raw minerals in the mining sector, saying the country stands to earn up to 500 million dollars a year. The country said this can be attained if mining of rutile at Kasiya site in Lilongwe and rare earths at Kangankunde in Balaka are managed properly. President Peter Mutharika announced the ban on Wednesday, on the sidelines of the swearing-in ceremony of Second Vice President Enock Chihana, Minister of Agriculture, Irrigation, and Water Development Roza Mbilizi, and Minister of Industrialisation, Business, Trade and Tourism George Partridge.…

Dangote Cement Crosses N10trn, Trades Below Analysts Target Price Signalling a speedy recovery from its downturn, Dangote Cement’s share price settled at N600 ahead of the third quarter of 2025 earnings release. The price level pushed the cement company market value above N10 trillion ahead of the third quarter earnings release. In separate earnings projections, a slew of equities analysts across Broadstreet anticipate the cement company to deliver an impressive performance as the industry appears to have left the wood. Improved macroeconomic conditions and the cement company’s ability to transfer costs to customers aided industrial sector players’ quick recovery. Cement…

AFC Secures $100 Million Facility from FinDev Canada Africa Finance Corporation (AFC) has secured a USD 100 million, 10-year term loan facility from FinDev Canada, Canada’s bilateral Development Finance Institution. This landmark transaction represents AFC’s debut in the Canadian market and its first partnership with FinDev Canada, while also marking FinDev Canada’s inaugural infrastructure financing in Sub-Saharan Africa, an official statement said. The facility will strengthen AFC’s funding base and support a growing pipeline of renewable energy and low-carbon transport projects across Sub-Saharan Africa, further expanding the Corporation’s commitment to climate-resilient infrastructure development. This transaction underscores the confidence of global…

Industrial Court Hears N100m Suit against Guinness Nigeria A former territory manager with Guinness Nigeria Plc, Mr. Ntima Anya, has dragged the multinational beverage company, Guinness Nigeria Plc.  before the National Industrial Court in Akure. Anya is seeking N100 million in damages over what he described as the wrongful, unlawful, and inhumane termination of his appointment. The defendants in the suit are Guinness Nigeria Plc, and Moshood Adejoro, who was his former Line Manager (an employee with the company till date). The matter, which came up for hearing on Tuesday, saw the claimant open his case through his counsel, Mr…

$31trn Debt Is Holding Back Developing Countries – UN Official UN Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan says 31 trillion dollar burden is stifling the development of developing countries. The UN trade official said this on Monday while addressing UNCTAD’s 195 Member States in Geneva. Grynspan, however, said that holding the line on the existing rules-based international trading system remains an essential challenge if the world is the keep a damaging tariff war at bay She said that 72 per cent of global trade “still moves under WTO rules” – a reference to the World Trade Organisation (WHO), whose…

Oil Stocks Deliver Tiny, Negative Return in Nearly 10 Months Holding listed oil companies’ stock is negative for any equity portfolio construction. Nigeria’s listed oil companies have disappointed their shareholders with unimpressive, negative year-to-date returns. The oil index has been the worst performer, which has damaged investors’ wealth despite strong market performance. Every investor who owns shares worth N10 million in these companies will be getting much less, and considering what the amount could have done elsewhere, there is an unquantified loss in relation to time. The unimpressive oil index performance has been driven by weak sentiment rather than fundamentals,…