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Yields on Naira Assets Steady as Liquidity Dries The average yield on Nigerian Treasury bills was steady at the secondary market yesterday due to thin, cold trading activities by fixed income securities investors. A similar yield movement was seen in the OMO bills segment. At the close of the trading session, yield settled at 7.3% […]

Nigerian Exchange Halts 3-day Losing Streaks The Nigerian Exchange (NGX) halted its losing streaks on Thursday over renewed bargain hunting in some mid-cap listed stocks.  In the past few days, the exchange has been giving up gains amidst buckets of macroeconomic concerns. Renewed interest in growth stocks halted its 3-day decline following gains in DANGSUGAR […]

Naira Jumps as CBN Issues FX Rate Control Update The Nigerian naira strengthens at the official window where investors and exporters of goods and services consummate foreign currency-denominated transactions. In the open market, exchange rates continue to fluctuate to the disadvantage of FX users seeking to close quick deals that local banks could not support […]

The Nigerian naira exhibited a remarkable surge against the US dollar within the peer-to-peer (P2P) market, commencing the trading day at N855/$ on Friday. This sharp rebound starkly contrasts the previous week’s peak of N950/$ in P2P markets, which had sparked concerns about impending scarcity. The naira’s impressive appreciation, amounting to N95/$ in less than […]

The Abia State Peoples Democratic Party says it has observed with dismay how the Chief Law Officer designate of the Federal Republic of Nigeria, Mr. Lateef Fagbemi and Governor Alex Otti’s legal team are attempting to intimidate the Abia Election Petition Tribunal. Abia PDP said that Fagbemi, who has already been cleared by the Nigerian […]

The Department of State Services (DSS) has kept mum over the arrest of the Chief Executive of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Abbas Umar Masanawa. Masanawa was reportedly arrested for his alleged role in the ongoing corruption probe of the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. Recall […]

The acting Inspector-General of Police, Olukayode Egbetokun, has ordered States Commissioners of Police to establish Complaint Response Units in their respective command, noting that the new development was due to his zeal to sanitize and standardise the police system for accountability and transparency in line with his commitment to fortify the complaints response mechanisms of […]

The management of the University of Lagos, UNILAG, has dismissed the rumour making the round that it has slammed additional charges on students. In a post on the institution’s social media handles, the school describes such claims as untrue. “The University of Lagos (UNILAG) wishes to explicitly refute unsubstantiated claims making the rounds that the […]

The speaker of the Edo State House of Assembly, Blessing Agbebaku, has stated that there is no plan to remove or impeach deputy governor Philip Shaibu. It was, however, gathered that insiders maintained that a collection of impeachable offences against Shaibu has been compiled, adding that it is being delayed due to the restraining order […]

The World Health Organisation (WHO) says it is closely monitoring BA.2.86, a new variant of COVID-19, detected in Israel, Denmark and the United States. In a bulletin on Thursday, the WHO said is it classifying the new version of the various as a variant under monitoring (VUM) due to the large number of spike gene […]

In a disheartening revelation, a staggering 1,680 schoolchildren have fallen victim to abductions since the tragic 2014 kidnapping of 276 schoolgirls from Chibok, Borno State. This alarming trend has also instilled fear in countless others, effectively preventing them from attending school due to the looming threat of attacks. Save the Children International (SCI), a prominent […]

Atedo Peterside, the visionary behind Stanbic IBTC Bank Plc and the Anap Foundation, has expressed that the recent appearance of the “All Eyes On The Judiciary” slogan on billboards across Nigeria should not be construed as offensive. Peterside’s perspective comes in response to the ongoing debate sparked by the Advertising Regulatory Council of Nigeria (ARCON)’s […]