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Market Index Spikes as Equities Investors Gain N93bn The equities segment of the Nigerian Exchange (NGX) gained more than N93 billion on Wednesday amidst increased bargain hunting on stocks with strong fundamentals and liquidity. The local bourse has been spinning money for well-positioned equities investors more than any investment window currently despite yield repricing in […]

Oil Climbs Over Healthy Demand Expectations Prices of crude oil increased on Wednesday following a positive demand forecast by the International Energy Agency (IEA). Brent price increased by 0.07% to $82.53 per barrel from $82.47 on Tuesday. The American benchmark, West Texas Intermediate (WTI), traded at the same time at $78.27 per barrel, up 0.01% […]Read More

Treasury, OMO Bills Yields Slide after Auctions The average yield on Nigerian government fixed interest securities instruments slid over renewed interest by local investors. Buying interest in the secondary market dragged the average yield lower by 1bp to 15.8% in the OMO segment. With successive depreciation of the local currency, the naira, and heightened inflation […]

Tinubu Restates Commitment Towards Economic Recovery President Bola Tinubu has assured Nigerians that the Federal Government would reverse the worrisome trend in the economy. Tinubu gave the assurance on Wednesday in Uyo, in a message to the opening of the All Nigeria Editors Conference (ANEC). Represented by the Minister of Information, Mohammed Idris, the President […]

Nigeria Bond Yield Climbs to 15.7% The average yield on Nigerian government bonds climbed to 15.74% on Tuesday amidst high inflation rate expectations. The secondary market witnessed selloffs across tenors with investors showing particular interest in very long-dated borrowing instruments. Following the bearish trades recorded, the average yield increased by 7 basis points (bps) to […]

Nigeria’s Inflation Rate Runs to 27.33% Nigeria’s inflation rate ran to 27.33% in October 2023, the statistics office said in its monthly consumer price index report. Again, the increased consumer pressure was driven by a surge in food inflation. According to the National Bureau of Statistics (NBS), the headline inflation rate increased to 27.33% relative […]Read More

Afreximbank, APPO to Set Up African Energy Bank The African Export-Import Bank (Afreximbank) says it is set to inaugurate the African Energy Bank in June 2024 to mitigate the crisis in the African energy sector. The bank disclosed this during a session on “Africa’s Energy Transition and Financing’’, at the ongoing Inter-African Trade Fair (IATF) […]

Seme Customs Generates N3.05bn in 10 months The Nigeria Customs Service, Seme Area Command, Lagos State, said on Tuesday that it generated a total sum of N3.05 billion in 10 months. The Controller of Customs in the command, Comptroller Timi Bomodi, disclosed this to newsmen at a news conference in Seme, Lagos. Bomodi said the […]

Namadi Presents N298.24bn 2024 Budget to Jigawa Assembly Gov. Umar Namadi of Jigawa on Tuesday presented N298.14 billion estimates for the 2024 fiscal year to the Jigawa State House of Assembly. Namadi made the presentation in Dutse amidst tight security due to the ongoing nationwide labour strike. The governor recalled that the N185.075 billion budget […]

A new caucus within the Port Harcourt branch of the Nigerian Bar Association dubbed ‘Progressives’ will host a grand party to welcome the new legal year on Thursday, November 16. The NBA Port Harcourt Progressives is made up of like-minded senior and junior lawyers determined to positively transform the branch’s administration. According to sources, the […]

Turkish President Recap Tayyip Erdogan accused Israel Wednesday of being “a terrorist state” and of implementing a strategy to wipe out the population of Gaza, during a parliamentary address in which he vowed to bring Israel’s political and military leaders to trial in international courts. Asserting that Israel “receives the full backing of the US […]

The President of the National Industrial Court of Nigeria, Hon. Justice B. B. Kanyip, has announced new postings for 36 judges of the court across the country. In a public notice dated November 15, 2023, Justice Kanyip stated he was re-assigning the judges to different judicial divisions under the authority granted to him by the […]