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Nigeria Eurobonds Rally Further, Yield Slumps The average yield on Nigerian government Eurobonds slid further as the buying momentum continued in the international debt market.  There has been a switch in the foreign debt market; trading activity has been bullish in the space as the US 20-year treasury yield continues to swing sideways amidst the […]

USD Gains Ahead of Fed Chair Jerome Powell’s Speech FOREX: The United States dollar (USD) reached its highest level in more than two months against a basket of major currencies and the euro ahead of a speech by Federal Reserve Chairman Jerome Powell. Fed Chair is expected at the Jackson Hole symposium later where he […]

Unemployment Rate Drops to 4.1% in Nigeria Nigeria’s unemployment rate dropped to 4.1 per cent in the first quarter of 2023 from 5.3 per cent in the fourth of 2022. Mr Adeniran Adeyemi, the Statistician General of the Federation and Chief Executive Officer of the  National Bureau of Statistics  (NBS), said this on Thursday during […]

Nigeria Rated 11th in Internet Penetration Globally, Says NCC Prof. Umar Danbatta, Executive Vice-Chairman (EVC) of the Nigerian Communications Commission (NCC) says Nigeria is rated eleventh in terms of internet penetration and seventh in terms of mobile phone usage globally. Danbatta made the disclosure at the opening ceremony of the Emerging Technology Forum for the […]

The Nigerian legal community is abuzz with excitement as the Annual General Conference (AGC) of the Nigerian Bar Association (NBA) commences. All eyes are on Mazi Afam Osigwe, SAN, the esteemed Chairman of the AGC Planning Committee, who is taking a proactive approach by personally overseeing the distribution of conference materials to all participants. Known […]

*Dismisses Maduka’s Appeal For Lack Of Locus Standi The Court of Appeal, sitting in Abuja, has dismissed the appeal filed by the candidate of Labour Party for Imo State governorship election, Sir Basil Maduka, for lack of locus standi. Justice Olubunmi Oyewole, in his judgement, said Maduka lacked the legal right to complain about the […]

The Securities and Exchange Commission (SEC) has revealed that the unclaimed dividends within the nation’s capital market have reached N190 billion. The Director-General of SEC, Mr. Lamido Yuguda, shared this information during the second post-Capital Market Committee (CMC) media briefing in Abuja. Yuguda cited issues related to identity management in the country as a key […]

Stanbic IBTC Bank Corrects Narrative on Directors’ Loans Stanbic IBTC Bank has recently become aware of certain misinformation circulating with respect to its loans to Directors in 2022. As a socially responsible corporate organisation, Stanbic IBTC Bank is aware of the significance of maintaining transparency and integrity in all its processes. It is therefore necessary […]

Oil Drops over Weak Demand Outlook Crude oil prices slid further on Thursday as a result of an expected slowdown in demand following weak macroeconomic data from key economies that sparked concerns. The market has been slipping deeper into a bearish level as Iranian oil exports boosted the supply side. International benchmark Brent crude traded […]

Foreign Investors Demand for FGN Bonds Rise, Yield Dip As a result of a fresh rally, the Federal Government of Nigeria (FGN) Eurobonds prices surged in the international debt capital market due to increased demand by foreign investors. On July 12, the Nigerian government successfully settled its $500 million Eurobonds that matured, and the next […]

U.S. Approves $500m Arms Sales to Taiwan The U.S. has approved a 500-million dollar potential sale of weapons to Taiwan to help boost the island’s airspace defence capability. The U.S. Defence Security Cooperation Agency (DSCA) said in a Wednesday statement that the sale would include F-16 Infrared Search and Track (IRST) systems and related equipment. […]

Nigerian T-Bills Rate Spikes to 13.97% Spot rate on 364-day Nigerian treasury bills (NTB) spiked to 13.97% despite a significant surge in subscription level at the primary market auction sales conducted by the monetary authority on Wednesday. Fixed income securities investors stake N154 trillion on Nigerian Treasury bills at the central bank primary market auction […]