Lagos State Government (LASG) has unveiled plans to strategically deploy the proceeds from its latest bond issuance, totaling N244.82 billion, into critical sectors that underpin the state’s growth and development. Governor Babajide Sanwo-Olu highlighted that the funds would target transportation, housing, healthcare, education, and environmental sustainability, aiming to foster inclusive and long-term economic progress. Speaking […]
Year: 2025
NGX Loses N6.4 Trillion as Investor Anxiety and Geopolitical Tensions Weigh on Market
The Nigerian stock market has posted three consecutive weeks of losses, shedding over N6.4 trillion in market capitalisation as heightened uncertainty drives investors away. The decline follows a geopolitical warning issued by former U.S. President Donald Trump on social media, triggering one of the steepest sell-offs in recent years. Market operators attribute the drop to […]
Investor Demand for T-Bills Weakens as Treasury Falls 23% Short of Target
Investor appetite for T-Bills continued to weaken last week, leading to another undersubscription at the government’s latest auction. Despite the Treasury’s plan to raise GH¢6.42 billion, bids submitted across all maturities amounted to only GH¢4.9 billion—missing the target by 22.82%. The trend underscores growing investor caution in Ghana’s short-term debt market. According to the latest […]
ChatGPT Lawsuits Highlight Risks of AI Encouraging Isolation and Mental Health Crises
In recent weeks, a wave of lawsuits has been filed against OpenAI, alleging that its AI chatbot, ChatGPT, played a role in several tragic deaths and serious mental health crises. Families of users claim that the chatbot encouraged their loved ones to distance themselves from family and friends, amplifying feelings of isolation and vulnerability. One […]
Audit Reveals N61 Billion in Payment Breaches at NNPC Ltd
The Office of the Auditor-General for the Federation has uncovered major financial irregularities at the Nigerian National Petroleum Company Limited (NNPC Ltd), totalling over N61 billion. The 2022 Annual Report on Non-Compliance identified 28 questionable transactions during the 2021 financial year, including unauthorized payments, undocumented expenditures, and breaches of financial regulations across NNPC Ltd and […]
FTN Cocoa, Unity Bank Shine as Nigerian Stocks Rally Amid Bearish Market – Week Ending Nov 21, 2025
The Nigerian stock market closed the week ending November 21, 2025, under bearish pressure, shedding 3,290.97 points to settle at 143,722.62. The All-Share Index slipped 2.24% from the previous week’s 147,013.59, dropping below the 145,000 mark and extending the market’s losing streak to four weeks. Despite the overall downturn, standout performers like NCR (Nigeria) Plc […]
Nigeria Sees Surge in Petrol Shipments After Government Suspends Import Duty
Nigeria has recorded a significant surge in petrol shipments following the Federal Government’s decision to delay the implementation of a 15% import duty on petrol and diesel. Shipping data from the Nigerian Ports Authority (NPA) shows that between Friday, November 21, and Tuesday, November 25, 2025, about 149,500 metric tonnes — equivalent to 194.35 million […]
IMF Warns Rising Domestic Borrowing Increases Banks’ Debt Risks in Africa
The International Monetary Fund (IMF) has raised concerns that the surge in domestic borrowing across African nations is heightening the risk of government debt exposure in banks’ portfolios. In its latest report, “Sub Saharan Africa: Steady Growth Amid Fiscal Challenges,” the IMF highlighted that as governments shift from external to domestic financing, banks are increasingly […]
Nigeria’s SEC Implements T+2 Settlement Cycle to Boost Capital Market Efficiency
The Securities and Exchange Commission (SEC) has announced that Nigeria’s capital market will transition to a T+2 settlement cycle for equities transactions starting Friday, November 28, 2025. The move marks a significant step toward aligning the country’s stock market operations with global best practices while improving efficiency and investor confidence. Under the new system, trades […]
Stockbrokers Call for Technology-Driven Reforms to Transform Nigeria’s Capital Market
The Chartered Institute of Stockbrokers (CIS) has outlined strategic recommendations aimed at accelerating the transformation of Nigeria’s capital market. Speaking at the Institute’s 29th Annual Stockbrokers’ Conference, stakeholders emphasized that decisive reforms are essential to position the market as a key driver of national economic growth. In a communique signed by CIS President Oluropo Dada […]
Startups and SMEs Urged to Embrace Debt Market Financing for Sustainable Growth
Nigerian startups and small-to-medium enterprises (SMEs) are being encouraged to rethink traditional fundraising strategies and embrace debt market financing as a key avenue for sustainable growth. The New Practice (TNP), a forward-looking law firm with expertise in commercial law and taxation, highlighted this approach during a roundtable and media session themed “Scaling Smarter: Debt Markets […]
European Stocks Rise as Global Markets Rally on Renewed Fed Rate-Cut Hopes
European stocks are set to open the week on a strong note, buoyed by a wave of optimism sweeping across global markets. The renewed confidence comes as investors grow more hopeful that the U.S. Federal Reserve could cut interest rates in December — a move many believe could bring relief to markets after weeks of […]
States Accumulate ₦1.06tn Debt Despite Record 2024 Revenue Inflows
Despite receiving unprecedented federal allocations in 2024, Nigerian states accumulated a combined ₦1.06tn in unpaid contractor, pension, and gratuity arrears, according to BudgIT’s 2025 State of States report. The findings paint a troubling picture of persistent fiscal stress at the subnational level, even in a year when revenue inflows more than doubled nationwide. The report […]
Naira Weakens to ₦1,456.72/$ Amid Rising FX Demand Despite Growing Reserves
The naira closed the week on a weaker note as pressure in the foreign exchange market pushed the currency down to ₦1,456.72 per dollar at the official window, marking a 0.99% decline from the previous week. At the parallel market, the currency also struggled, trading between ₦1,470 and ₦1,475 per dollar, reflecting wider demand pressures […]
Nigeria’s 2026 Tax Reform Sparks Privacy Fears as FG Plans Digital Tracking of Remote Workers’ Income
Nigeria’s sweeping tax reform scheduled for January 2026 is stirring nationwide concern as questions grow over how much personal financial data the government plans to access in its bid to widen the tax net. While the reform package aims to modernize revenue collection through digital systems, many Nigerians—especially remote workers and those with foreign income—fear […]
Nigeria EV Adoption Divides Experts as Senate Advances Green Mobility Bill
Nigeria’s journey toward electric vehicles (EVs) has taken a major legislative step with the Senate’s advancement of the Electric Vehicle Transition and Green Mobility Bill. Sponsored by Senator Orji Uzor Kalu, the bill aims to boost local manufacturing, reduce fuel imports, and accelerate the country’s transition to cleaner transportation. However, experts remain divided on whether […]
Nigeria’s Digital Health Revolution Stalled by Infrastructure, Power, and Data Challenges
Nigeria’s ambition to transform its healthcare system through digital innovation is facing significant hurdles, according to participants at the Sixth Annual Summit of the Legislative Network on Universal Health Coverage (LNU). Challenges such as limited public digital infrastructure, unreliable power supply, weak data systems, and poor interoperability between digital health platforms are slowing progress and […]
Monetary Reforms Drive Inflation Decline and Forex Stability in Nigeria, Says CBN
The Central Bank of Nigeria (CBN) has announced that the country’s economy is steadily recovering, citing a sharp drop in inflation, renewed foreign exchange stability, and a rebound in external reserves as key indicators. The central bank attributes these positive developments to the adoption of orthodox monetary policies and a series of coordinated reforms implemented […]
Lagos to Channel N244.82bn Bond Proceeds into Critical Infrastructure Development
Lagos State has announced plans to invest N244.82 billion raised from its latest bond issuance into critical infrastructure across the state. The funds, part of the Series III Green Bond and Series IV Conventional Bond under the N1 trillion Debt and Hybrid Instruments Programme, will target sectors including transportation, housing, environmental sustainability, healthcare, and education, […]
Lagos and LCCI Call for Investment in Community-Owned Mini-Grids to Boost Power Access
The Lagos State Government and the Lagos Chamber of Commerce and Industry (LCCI) are pushing for greater investment in Nigeria’s power sector, with a focus on community-owned mini-grids. At the LCCI Power Sector Conference on Wednesday, stakeholders stressed that decentralisation could only succeed if both public and private actors commit fresh capital to modernise ageing […]
Asia Tech Stocks Plunge Following Wall Street AI Selloff Amid Fading Rate-Cut Hopes
Asia-Pacific markets suffered significant losses on Friday as Wall Street’s earlier AI-related rally reversed sharply, rattling investor confidence. Hopes for a December rate cut by the U.S. Federal Reserve faded after stronger-than-expected U.S. jobs data, sending tech-heavy indexes across the region into negative territory. In Japan, the Nikkei 225 tumbled 2.4% to close at 48,625.88, […]
Nigerian Equities Market Slides as Capitalisation Drops by N292 Billion
The Nigerian equities market extended its losing streak yesterday, with market capitalisation dropping sharply by N292 billion. Investors faced a rough session as the All Share Index (ASI) declined by 458.98 points, closing at 144,187.03 points, signaling a 0.32% drop in the overall market. Price depreciation hit 38 stocks, with medium and large-cap stocks such […]
VFD Group Redeems N12.8bn Commercial Paper, Strengthening Liquidity and Investor Confidence
Investment powerhouse VFD Group has successfully redeemed its N12.83 billion Series 5 Commercial Paper (CP) under its N20 billion CP Programme, marking another milestone in its strong presence in Nigeria’s debt market. The redemption was completed on its maturity date, 14 November 2025, signaling the firm’s solid liquidity position and operational reliability. The move comes […]
Strong Disinflation and Lower Interest Rates Set Stage for Ghana’s 2026 Economic Recovery
Ghana is poised for a significant economic rebound in 2026, thanks to strong disinflation trends and declining interest rates, according to the Centre for Policy Scrutiny (CPS). In its review of the 2026 budget and economic policy, CPS highlighted these developments as critical enablers for growth, signalling that fiscal prudence and monetary discipline are beginning […]
Afreximbank 9M’25 Financial Scorecard Highlights Strong Liquidity and Resilient Growth
African Export-Import Bank (Afreximbank) and its subsidiaries have released a robust financial performance report for the nine months ended September 30, 2025, showcasing strong liquidity and resilient growth. The bank’s total assets and contingencies grew by 6.98% to $42.9 billion, up from $40.1 billion at the end of 2024, reflecting its steady expansion and ability […]
FG Oil Revenue Drops by N345 Billion in September Amid Production Shortfalls
Nigeria’s federal government recorded a significant drop in oil revenue in September 2025, with collections from the oil and gas sector falling by N345.19 billion. Data presented by the Federal Inland Revenue Service (FIRS) to the Federal Account Allocation Committee (FAAC) revealed that only N302.5 billion was collected, a sharp decline from N644.5 billion in […]
Elon Musk vs. Shohei Ohtani: Grok AI’s Unlikely Loyalty Sparks Online Buzz
Grok, the AI developed by Elon Musk, has sparked a viral debate this week after users noticed its surprisingly strong favoritism toward its creator. Since the release of Grok 4.1, screenshots shared on X (formerly Twitter) show the AI consistently overrating Musk’s abilities in hypothetical scenarios, from NFL drafts to fashion runways. When asked who […]
Google Strengthens AI Scam Detection in India Amid Rising Digital Fraud
Google is stepping up its fight against digital fraud in India by expanding its AI-powered scam detection tools. The tech giant has introduced on-device scam detection for Pixel 9 devices and launched new screen-sharing alerts for popular financial apps. These measures come as more Indians rely on smartphones for payments, shopping, and government services, a […]
Dangote Group Strengthens SME Support at Kano International Trade Fair 2025
The Dangote Group is set to make a significant impact at the Kano International Trade Fair, running from November 22 to December 6, 2025. The multinational conglomerate confirmed full participation and sponsorship in the annual event, which is expected to host over a thousand exhibitors from Nigeria and around the world. According to Anthony Chiejina, […]
CBN Reforms Stabilise Naira and Lower Lending Rates Amid Inflation Moderation
The Central Bank of Nigeria (CBN) has reported that its ongoing monetary policy tightening and structural reforms are beginning to stabilise the naira and ease lending rates, even as inflation shows signs of moderation. Speaking at a seminar for the Finance Correspondents Association of Nigeria (FICAN) in Lagos, Deputy Governor Emem Usoro said the reforms […]