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Stock market losses N1.62trn, as CBN retains interest rate at 26.50%
Central Bank of Nigeria (CBN) has retained the country’s Monetary Policy Rate (MPR) at 26.50 per cent. The CBN Governor, Mr Olayemi Cardoso, who disclosed this during a press briefing at the end of the 305th Monetary Policy Committee (MPC) meeting…
CBN opens N650bn offer for NTBs auction
Central Bank of Nigeria (CBN) has opened for offer N650 billion worth of Nigerian Treasury Bills (NTBs) at its scheduled auction, Wednesday in what marks the second issuance for the month under the Federal Government’s second-quarter borrowing programme. The auction,…
Dangote’s East Africa Refinery, 20,000MW power plans signal continental expansion
Ziggy Ojiegbe Plans by Nigerian industrialist Aliko Dangote to replicate his $20 billion Lagos refinery complex in East Africa emerged as one of the defining announcements at the just concluded Africa Forward Summit hosted by the governments of Kenya and…
Nigerian banks face $1.7bn Eurobond maturity wall stronger amid widening sector divergence
Nigeria’s banking sector is entering a key Eurobond maturity cycle with significantly improved foreign-currency liquidity conditions, stronger external reserves, and reduced near-term refinancing pressure. This is, however, as according to Fitch Ratings, the apparent stability masks persistent structural constraints…
Bitcoin rush grows over alarming $39trn U.S debt crisis
United States government’s towering debt burden is once again rattling global financial markets, reviving fears about the long-term stability of the US dollar and fueling a fresh wave of speculation that bitcoin and gold could emerge as the biggest…
NGX RegCo recovers N500m in restitution for shareholders
Independent regulatory arm of the Nigerian Exchange Group, the NGX Regulation Limited (NGX RegCo) says it has successfully facilitated recoveries exceeding N500m for shareholders following the resolution of various complaints involving market operators. The independent regulatory arm of the Nigerian…
Dangote, Norges Bank in talks over strategic investments across Africa
Frank Okon Dangote Group says it is in discussions with Norges Bank Investment Management over a potential strategic partnership aimed at expanding investments across critical sectors and regions in Africa. The move, according to a statement from the company, could…
Seplat $840.7m Q1 revenue, strong dividend and sturdy cash flow
Ziggy Ojiegbe Seplat Energy has reported a solid financial and operational performance for the first quarter of 2026, posting higher revenue, profit growth and a significant increase in shareholder returns, despite operational challenges during the period. The dual-listed energy firm,…
Africa’s $4 trn domestic capital still unlinked to development financing
Institutional funds can unlock development projects __AFC Africa’s domestic capital base has grown to a level that now surpasses external financing flows over the past decade, but much of this wealth remains locked in institutional funds and is yet to…
FG to stake $75m in Flutterwave as company lists in Nigerian bourse
Ziggy Ojiegbe Nigeria is taking a more direct role in shaping the future of its tech sector, with President Bola Tinubu approving a $75 million investment in Flutterwave ahead of the company’s planned listing on the Nigerian Exchange. The funding,…
