Lagos State has successfully raised N244.82 billion through a combination of green and conventional bonds, underscoring strong investor confidence in the state’s growth plans. The funds will be directed toward key infrastructure projects aimed at improving transportation, energy, and environmental sustainability across the city. Speaking at the Ministry of Finance/DMO bond signing ceremony in Lagos, […]
Year: 2025
UAC Nigeria’s N182 Billion Acquisition of CHI Set to Reshape Consumer Goods Landscape
In a landmark deal that has captured the attention of Nigeria’s business community, UAC Nigeria has acquired CHI Limited in a N182.4 billion transaction, making it the largest merger and acquisition in the country’s consumer goods sector. The acquisition underscores UAC’s ambition to expand its market influence and establish itself as a leading player in […]
Ghana Set for Strong Economic Growth in 2026, Fitch Solutions Forecasts
Ghana is on track for robust economic growth in 2026, according to forecasts by UK-based research firm Fitch Solutions. The agency predicts that Ghana will outperform many of its emerging-market peers, thanks to solid macroeconomic fundamentals demonstrated in 2025. Analysts say this momentum is expected to continue into next year, signaling a strong recovery for […]
Yen Under Pressure as Dollar Eyes Weekly Gain Amid Market Intervention Concerns
The Japanese yen remained under pressure near a 10-month low on Friday, prompting traders to watch for potential intervention from Tokyo. Japanese officials, including Finance Minister Satsuki Katayama, hinted that action could be taken to curb excessive currency volatility, briefly pushing the yen higher in early Asian trading. The dollar, meanwhile, continued its upward trajectory, […]
NCR and ROYALEX Shine as Nigerian Stock Market Slides Below N92 Trillion
The Nigerian Stock Market ended Thursday, 20 November 2025, on a bearish note, with the All-Share Index (ASI) slipping 458.98 points to close at 144,187.03, representing a 0.32% decline from the previous session. Market capitalization also fell slightly to N91.70 trillion, down from N92.00 trillion, highlighting the ongoing cautious sentiment among investors. Trading activity slowed […]
Nigerian T-Bills Demand Hits New High as Investors Chase High Yields with N1.23tn Bids
Investor appetite for Nigerian Treasury Bills surged sharply at the latest auction on Wednesday, November 19, 2025, as total bids for the 364-day paper climbed to an impressive N1.23 trillion against the N450 billion on offer. The rush reflects a widespread investor strategy to secure today’s high yields before the expected monetary easing in 2026 […]
Foreign Investors Return to NGX as Market Hits Record N2.03tn in 2025
Foreign portfolio investors have made a powerful comeback to the Nigerian Exchange Limited, with foreign trades surging to an unprecedented N2.03trillion as of October 2025. This historic milestone marks the highest level of annual foreign participation recorded since 2007, signaling renewed global confidence in Nigeria’s capital market. The latest Domestic & Foreign Portfolio Investment Report […]
SEC Summit to Highlight Technology-Driven Compliance in Nigeria’s Capital Market
The Securities and Exchange Commission has underscored the growing importance of technology-led compliance in Nigeria’s capital market as it prepares for the 2025 SEC/Nigerian Capital Market Institute Compliance Summit. With the conference set to take place in Lagos next week, the regulator said the event will build on the success of the 2024 edition by […]
Auditor-General Alleges CBN Recycled N29.7bn Dirty Notes in Violation of Clean Note Policy
The Central Bank of Nigeria has come under renewed scrutiny as the Office of the Auditor-General of the Federation accuses the apex bank of reintroducing dirty and unfit banknotes worth N29.77bn into circulation. The allegation, which dates back to the tenure of former CBN Governor Godwin Emefiele, directly contradicts the bank’s Clean Note Policy—an internal […]
FUGAZ Banks Drag Nigerian All-Share Index Down 0.23% Despite Surge in Trading Volume
The Nigerian stock market faced a modest downturn on Tuesday, 19th November, as the All-Share Index (ASI) slipped 340.50 points to close at 144,646.01. This represents a 0.23% decline from Monday’s finish of 144,969.30, reflecting lingering weakness across the market. Analysts noted that all FUGAZ banks ended the session in the red, exerting significant pressure […]
Nigeria’s Pension Assets Hit N26 Trillion in September 2025 Amid Market Volatility
Nigeria’s pension industry maintained a strong growth trajectory in September 2025, with total assets rising to N26.09 trillion, up from N25.90 trillion in August. This 0.75% month-on-month increase represents a robust 23.44% year-on-year growth, signaling continued investor confidence despite ongoing market fluctuations. Data from the National Pension Commission (PenCom) shows contributor numbers under the Contributory […]
Nigeria Q3 2025 GDP Outlook: Analysts Split Between 3.9% Slowdown and 4.5% Growth
Nigeria’s Gross Domestic Product (GDP) report for the third quarter of 2025 is stirring debate among economists, with forecasts ranging from a modest 3.6%–3.9% growth to a more robust 4.5% expansion. This follows the 4.23% growth recorded in Q2, highlighting uncertainty over how various sectors of the economy are performing. Analysts are closely watching how […]
Nigerian Stock Market Opens Week in Red, N1.17 Trillion Lost Amid Decline in Major Stocks
The Nigerian equities market began the week on a downward trend, recording a staggering N1.172 trillion loss. The All Share Index (ASI) dropped by 1,853.82 points, a decline of 1.26%, closing at 145,159.77 points. Correspondingly, market capitalization fell to N92.329 trillion, signaling investor caution at the start of the trading week. Losses were largely driven […]
CBN Warns Public: Zuldal Microfinance Bank Not Licensed to Operate in Nigeria
The Central Bank of Nigeria (CBN) has issued a stern warning to the public over an entity claiming to operate as Zuldal Microfinance Bank Limited. According to the regulator, the company is neither licensed nor authorized to conduct any banking or microfinance activities in Nigeria. The announcement comes after reports that Zuldal had been assuring […]
Lagos SME Bootcamp Empowers Over 700 Entrepreneurs with Skills and Funding Opportunities
Over 700 small business owners gathered in Lagos for the 8th edition of the Lagos SME Bootcamp, an annual event designed to equip Micro, Small, and Medium Enterprises (MSMEs) with the tools to thrive in Nigeria’s competitive business landscape. The three-day program focused on challenges such as funding gaps, intellectual property protection, and building brand […]
TotalEnergies and Conoil Complete Strategic Asset Swap in Nigerian Offshore Blocks
In a strategic move reshaping offshore oil operations in Nigeria, TotalEnergies Marketing Nigeria Plc has signed an asset swap agreement with Conoil Producing Limited. The deal will see TotalEnergies acquire a 50% operated stake in Oil Prospecting Licence (OPL) 257, while Conoil takes over TotalEnergies’ 40% interest in Oil Mining Lease (OML) 136. This transaction […]
Nvidia Reports Record $57B Q3 Revenue as AI Demand Soars
Nvidia has shattered expectations with a record $57 billion in third-quarter revenue, marking a 62% increase from the same period last year. The company’s net income also surged 65% to $32 billion, surpassing Wall Street forecasts and signaling that Nvidia’s AI-driven growth shows no signs of slowing. The data center segment continues to fuel Nvidia’s […]
Google Launches AI Skilling Blueprint to Bridge Africa’s AI Skills Gap
Google has unveiled a major initiative to tackle Africa’s widening artificial intelligence (AI) skills gap, aiming to equip the continent’s workforce for a digital-first future. On Wednesday, the tech giant introduced its AI Skilling Blueprint for Africa, a comprehensive policy roadmap designed to help governments develop national AI training strategies and prepare citizens for AI-driven […]
Meta Completes 2Africa Subsea Cable, Bringing Faster Internet to 3 Billion People
Meta has announced the successful completion and activation of the 2Africa subsea cable, a transformative project designed to enhance internet access for more than 3 billion people across Africa, the Middle East, South Asia, and Europe. Developed in partnership with global and regional telecommunications leaders, including MTN Group’s Bayobab, Orange, center3, Telecom Egypt, Vodafone, and […]
Alles Charis Gas Boosts Domestic LPG Supply with New 500MT Depot in Ondo
Alles Charis Gas Limited has taken a significant step in deepening domestic LPG supply in Nigeria by commissioning a 500-metric-tonne inland storage facility in Ore, Ondo State. This development aligns with the Federal Government’s goal to expand national LPG consumption and accelerate the nation’s shift toward cleaner, more sustainable energy sources. The new depot is […]
PENGASSAN Raises Alarm Over Eroding Oil and Gas Retirees’ Pensions
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns over the declining value of pensions for retirees in the oil and gas sector, calling the situation “worrisome and unsustainable.” Speaking in Abuja during a stakeholders’ engagement on closed pension fund administrators (CPFAs), PENGASSAN President Festus Osifo highlighted that many retirees […]
Nigeria’s New Tax Reform Law Makes Virtual Currencies Taxable – Oyedele
Nigeria has officially brought virtual currencies, including cryptocurrencies, under its tax umbrella as part of the country’s sweeping fiscal reform, the Presidential Fiscal Policy and Tax Reforms Committee has confirmed. Taiwo Oyedele, the committee’s chairman, disclosed the new measure during an online lecture organized by the Capital Market Academics of Nigeria (CMAN) on Wednesday, signaling […]
Nigeria’s Aviation Sector: Africa’s Most Under-Exploited Market, Says President Tinubu
President Bola Ahmed Tinubu has called on global investors to explore the vast potential in Nigeria’s aviation sector, describing it as one of Africa’s most viable yet under-exploited markets. Speaking at the 2025 Federal Airports Authority of Nigeria (FAAN) National Aviation Conference (FNAC), he highlighted Nigeria’s strategic position, large population, and growing middle class as […]
FG, States, LGs Share N2.09 Trillion in October 2025 FAAC Allocation
The Federal Government, states, and local governments shared a total of N2.094 trillion from the October 2025 Federation Account Allocation Committee (FAAC) allocation, slightly lower than September’s N2.103 trillion. This represents a marginal shortfall of N9 billion, or 0.43%, highlighting minor fluctuations in monthly federal revenue distribution. The allocation breakdown, released by the Office of […]
Nigeria Targets N1.49tn Annual Revenue from West African Electricity Exports
Nigeria is set to earn nearly $1 billion (about N1.49 trillion) annually from electricity exports to 15 West African countries under the Economic Community of West African States (ECOWAS) sub-region, starting June 2026. The Federal Government’s projection is based on Nigeria’s full 600-megawatt export capacity and prevailing regional tariffs, positioning the country as a key […]
CATL Shares Drop as Lockup Expires, Triggering Investor Sell-Off in Hong Kong
China’s battery giant CATL saw its Hong Kong-listed shares tumble on Thursday, falling as much as 8.75% after a major lockup expiry prompted early investors to cash in their profits. About 77.5 million shares were released following a six-month sales restriction, opening a wave of selling pressure that weighed heavily on the stock. CATL, widely […]
Nigerian Bank Stocks Slide as Sell-Off Deepens on NGX in November 2025
The Nigerian stock market has been caught in a wave of heavy sell-offs this November, with banking stocks at the center of the storm. The All-Share Index (ASI) fell to 144,646 points on November 19, marking a daily decline of 0.25% and a sharp monthly drop of 3.55%. Despite a still-positive 40.53% year-to-date return, investor […]
Nigerian Stock Market Dips Further as Investors Lose N216bn — Market Capitalisation Falls Again
The Nigerian stock market extended its bearish run on Wednesday as investors lost an additional N216bn, deepening concerns over persistent negative sentiment in the local bourse. The downturn was driven largely by selloffs in key mid- and low-cap stocks, which pushed the market further into the red. Market data shows that the market capitalisation fell […]
Banks Alert Customers as FIRS Intensifies Enforcement of 10% Tax on Fixed-Income Interest
Nigerian banks have begun issuing fresh alerts to customers after the Federal Inland Revenue Service (FIRS) reaffirmed the enforcement of a 10% withholding tax on interest earned from a wide range of fixed-income investments. The renewed directive has drawn attention across financial circles, underscoring regulatory efforts to tighten compliance in one of the country’s most […]
Cloudflare Outage Disrupts Global Websites, Caused by Internal Database Error
Cloudflare experienced its most severe outage since 2019 on Tuesday, temporarily disrupting access to millions of websites globally. CEO and co-founder Matthew Prince described the incident as the worst in over six years, affecting users across sectors, including news media and e-commerce platforms in Nigeria. The company confirmed that core traffic was largely restored by […]