Author: Olu Anisere

British Pound Falls as UK Faces Fiscal Challenges The British pound, or the sterling, fell against the US dollar at forex markets, trading at $1.325, its lowest in three months, as the UK faces fiscal challenges.  The sterling depreciation was fast-tracked by markets’ anticipation of Bank of England (BoE) rate cuts next week. The GBP/USD exchange rate dropped over 0.50% after the Office for Budget Responsibility indicates plan to downgrade productivity. The FX pair fell below the 1.3300 level for the first time since October. However, the Sterling weakness is being countered by growing expectations of a Federal Reserve rate…

Money Market Rates Steady, Banks Place N3.1trn with CBN Surplus liquidity conditions in the money market has kept rate pricing in check, trending below the 25% floor, resulting in increased bank placement with the Apex Bank. To boost their earnings, banks have been placing excess funds at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF), earning 24.5% on their placements. Borrowing actions at the Standing Lending Facility (SLF) has slowed down from previous actions experienced last week. The slowdown in CBN’s liquidity action kept rates movement in check while commercial banks placement surged on the day. According to…

459 Court Cases: Stanbic IBTC Litigation Portfolio Surpasses N520bn Stanbic IBTC Holdings now has more than N552 billion in its liquidation portfolio as the financial institution seeks legal redress in court against Asset Management Corporation. In a disclosure, Stanbic IBTC explained that in the ordinary course of business the Group is exposed to various actual and potential claims, lawsuits and other proceedings that relate to alleged errors, omissions, breaches. The Group litigation portfolio as at 30 September 2025 consisted of 459 cases and aggregate value of monetary claims against the Stanbic IBTC Group was N519,285,211,830.52; USD$2,267,141.61 & GBP £1,556.07. Stanbic…

Nigeria’s Tax Reforms Reshape Fiscal Landscape, Says FIRS Chair The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has said that ongoing tax reforms and amendments to key fiscal legislations have significantly reshaped Nigeria’s tax ecosystem. Adedeji stated this in his goodwill message at a training workshop for Justices of the Supreme Court, Court of Appeal, and Judges of the Federal High Court on the new tax laws. He explained that the reforms, which include amendments to the Finance Acts, the Petroleum Industry Act, and various subsidiary legislations, have introduced new compliance obligations, dispute resolution mechanisms, and…

GCR Keeps FBNQuest Merchant Bank Outlook on Rating Watch Negative GCR Ratings has affirmed FBNQuest Merchant Bank Limited’s national scale long and short-term issuer ratings of BBB (NG) and A3 (NG), respectively, with the outlook maintained on Rating Watch Negative. The ratings of FBNQuest Merchant Bank Limited’s balance a sound risk profile, stable funding and strong liquidity against a modest competitive position and constrained capitalisation, GCR said in the rating note released on Tuesday. Ratings analysts stressed that the Negative Rating Watch reflects potential non-applicability of group support uplift upon the completion of FBN Holdings Plc’s disposal of the bank,…

APC Defends $1 Billion Investment in Lagos Ports The All Progressives Congress (APC) in Lagos State says the Federal Government’s $1 billion investment in the Lagos ports is part of a nationwide modernisation blueprint. The APC Spokesman, Mr Seye Oladejo, in a statement on Tuesday, said this while reacting to opposition parties’ criticism of the project. Oladejo said that the investment was designed to transform Nigeria into West Africa’s premier maritime hub. He described as laughable the opposition’s commentary and claim that President Bola Tinubu had neglected Warri, Calabar, Onne, and Port Harcourt ports, concentrating investments in Lagos ports. Oladejo…

U.S, Japan Sign Deal to Boost Rare Earths Supply Chains  The United States (U.S) and Japan have agreed to deepen cooperation on the supply of critical minerals and rare earths.  The agreement was signed on Tuesday in Tokyo by U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi. The aim is to secure the supply of critical minerals and rare earths necessary to support domestic industries, including advanced technologies and their respective industrial bases. The move comes against the backdrop of China’s near-monopoly on rare earths. Beijing has imposed export controls on rare earths and the magnets made from…

Trump in Japan for Asia Tour, to Meet China’s President on Thursday President Donald Trump touched down in Japan, marking the second destination of his tour across Asia, which will conclude with a crucial meeting with Chinese President Xi Jinping later this week. Trump is scheduled to meet China’s Xi Jinping in South Korea this week for high-stakes talks on tariffs tagreement with Beijing, while Taiwan and Russia are also likely to be discussed. The US president will meet Xi on the sidelines of the Asia Pacific Economic Cooperation summit on the final day of his Asia visit, which includes…

Nigeria’s Removal from Financial Crime Watch List to Boost Inv– SEC Boss The Securities and Exchange Commission (SEC) has said that the removal of Nigeria from the Financial Action Task Force (FATF) grey list reflects the country’s clear policy direction. On Friday, FATF announced the delisting of Nigeria from its grey list of countries with deficiencies in anti-money laundering and counter-terrorism financing frameworks. Speaking on Channels Television’s Morning Brief, SEC’s Director General, Emomotimi Agama, said the development would boost investor confidence. Agama noted that investors would realise the Federal Government’s efforts to strengthen the nation’s anti-money laundering and countering the…

GCR Affirms UBA Plc.’s B/AA+ Ratings with Stable Outlooks GCR Ratings (GCR) has affirmed United Bank for Africa Plc’s (UBA) international scale long-term issuer rating of B. Concurrently, UBA’s national scale long and short-term issuer ratings have been affirmed at AA+(NG) and A1+(NG), respectively. The outlooks on the ratings have been maintained as stable. GCR said the ratings reflect the consolidated credit profile of UBA group, comprising the bank and its subsidiaries operating across twenty African countries as well as international offices in the United Kingdom, the United States, France, and the United Arab Emirates. GCR also highlighted that UBA…