Author: Olu Anisere

Malabu Oil & Gas Ltd Prays Court to Void its Deregistration by CAC Malabu Oil & Gas Limited has urged the Federal High Court in Abuja to make an order declaring its deregistration by the Corporate Affairs Commission (CAC) as null and void. The oil and gas company, which is said to be jointly owned by Mohammed, son of former Head of State, Late Gen. Sani Abacha, and others, had been enmeshed in boardroom crisis. Malabu, in the originating summons marked: FHC/ABJ/CS/2137/2025, had sued CAC as sole defendant for allegedly deregistering it over alleged failure to file its annual returns.…

Oil Prices Decrease as Tensions in Middle East Ease In the global commodity market, prices of crude oil reduced on Tuesday amid uncertainty over trade policies between the US and China, while easing geopolitical tensions in the Middle East further pressured markets. Brent crude was trading at $62.68 per barrel, down 0.7% from Monday’s close of $63.18. US benchmark West Texas Intermediate (WTI) fell 0.8% to $58.70 from $59.21. Prices came under pressure after US President Donald Trump threatened higher tariffs on Chinese goods in response to Beijing’s export curbs on rare earth elements. He later said a 100% additional…

Nigerian Bonds Yield Tracks Below 16% Amidst Cautious Action The average yield on Federal Government of Nigeria (FGN) bonds stayed below 16% in the secondary market amidst mixed sentiment over fixed interest securities assets. The bond market’s trading temperature has been affected by the authority interest rate cut, which sparked a move into risky assets. Bargain hunting has been limited despite ample liquidity in the financial system, reflecting a cautious disposition to local debt papers in the secondary market. The choice given to pension fund administrators about portfolio structure could shift attention, and hence trading activities on low return papers.…

Nigerian Treasury Bills Yield Falls Ahead of Inflation Report Trading activities on Nigerian Treasury bills remained tight, albeit with a bullish undertone, as the average yield contracted by a basis point to 17.39% in the secondary market. Ahead of consumer price data this week, the market reacted to recent spot rates repricing at the belly and long end of the curve, though bargain hunting has been softened by mixed investor sentiment. Disinflation is expected to persist due to movement in prices of food items and a stable exchange rate. But analysts said recent strike actions that caused Nigeria to lose…

Don’t Despair, PDP on Course, Makinde Tells Members Gov. Seyi Makinde of Oyo State, on Monday, advised Peoples Democratic Party (PDP) members not to despair in spite of recent high-profile defections. Makinde spoke during the inaugural meeting of the party’s National Convention Transportation Sub-Committee, which he chairs, in Abuja. He said that the party remained on course to recovering power in 2027, notwithstanding the defections. Makinde urged PDP members to remain steadfast and committed to the revival of the party, which was still a constant factor in Nigerian politics. “This situation may appear like it’s difficult, because the news out…

LPG Hoarding: FG Directs NMDPRA to Intensify Depots Monitoring The Federal Government has mandated the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify Liquefied Petroleum Gas (LPG) depots monitoring, to prevent product hoarding following its recent price surge. The Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, gave the directive in a statement issued by his spokesperson, Louis Ibah, in Abuja on Monday. Ekpo expressed concern over the situation, noting that the price of LPG has risen from N1,000/N1,100 per kg to as high as N1,500 and N1,700 per kg in some parts of the country.…

Nigeria’s Oil Output Falls To 1.3 mbpd in September — OPEC Nigeria’s crude oil production dropped to 1.39 million barrels per day (mbpd) in September 2025, newly published data by the Organization of the Petroleum Exporting Countries (OPEC) has shown. This represented an output loss of about 45, 000 barrels per day in the month under review. Analysis of the data contained in the organisation’s October Monthly Oil Market Report (MOMR) released on Monday, revealed that the decline marked a second consecutive month, from 1.434 million bpd recorded in August 2025. The latest production figures were obtained through direct communication…

Daily FX Update: Naira Drops to N1,457/$ at Official Window The naira weakened against the dollar on Monday, declining 0.16% to ₦1,457.51 at the Nigerian foreign exchange market.  The local currency weight versus the dollar reduced across the foreign exchange market, indicating a spike in US dollar demand.  The negative exchange rate direction was influenced by a lower volume of US dollars available at the supply side.  Last week, Nigeria’s forex market stayed strong this week, as the naira continued to gain across both the official and parallel markets. The local currency’s improvement was helped by better foreign exchange inflows,…

FCCPC Backs CBN’s 48-Hour Banks’ Refund Guideline to Customers The Federal Competition and Consumer Protection Commission (FCCPC) has welcomed the Central Bank of Nigeria’s (CBN) draft guidelines requiring banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. FCCPC in a statement by Mr Ondaje Ijagwu, its Director, Corporate Affairs, in Abuja on Monday, said the draft guideline followed the Consumer Complaints Data Report published by the commission in September. Ijagwu said that the FCCPC, Executive Vice Chairman, Mr Tunji Bello, described the proposal as a timely and long awaited correction to a persistent consumer challenge.…

Rates Diverge as Excess Liquidity Thins Out on CBN Actions Rates mixed as the Central Bank of Nigeria (CBN) open market operations and local Treasury bills auctions significantly reduced excess liquidity level in the financial system last week. At the close of the trading session, the total liquidity level in the financial system was in excess of N3.3 trillion, reflecting significant movement of funds in and out of the market. The still robust funding level stepped down expected impacts of a sharp liquidity mop-up initiated by the CBN on the short-term benchmark interest – keeping funding rates movements in check.…