The Central Bank of Nigeria (CBN) allotted a total of N1.19 trillion in Treasury Bills at its latest primary market auction after investors submitted overwhelming bids for the 364-day instrument, underscoring continued demand for longer-tenor government securities. Auction results released by the apex bank showed that while the CBN offered a combined N600 billion across the 91-day, 182-day and 364-day tenors, total subscriptions climbed to N3.03 trillion, representing a bid-to-offer ratio of more than five times. The one-year Treasury Bill accounted for the bulk of investor interest, attracting N2.87 trillion in subscriptions against an offer of N400 billion. ALSO READ…
Author: Abdallah el-Kurebe
The East African Community (EAC) is targeting 2031 for the launch of a single regional currency under its revised East African Monetary Union roadmap, following the missed original 2024 deadline. The postponement followed the economic disruption caused by the COVID-19 pandemic, which widened fiscal deficits, led to rising public debt, and resulted in delays in setting up key monetary union institutions. Before a common currency can be introduced, member states—including Kenya, Uganda and Tanzania—must meet strict macroeconomic convergence criteria covering inflation, fiscal deficits, public debt and foreign exchange reserves, while regional institutions such as the East African Monetary Institute become…
Amnesty International has accused Sudan’s Rapid Support Forces (RSF) of committing widespread crimes against humanity during its military campaign to seize El Fasher, the capital of North Darfur, while calling on Nigeria, the African Union (AU) and the international community to intensify efforts to end the conflict in Sudan. The allegations are contained in Amnesty International’s 208-page report, City Under Siege, Children Under Fire: Rapid Support Forces’ Crimes Against Humanity in North Darfur, which documents alleged atrocities committed between mid-2024 and late 2025 during the RSF’s offensive in El Fasher. According to the report, the RSF carried out mass killings,…
Malaysia has unveiled a list of 15 African countries whose citizens can travel into the Southeast Asian nation without obtaining a visa in advance, with Nigeria absent from the latest exemption list. The updated entry policy, released under Malaysia’s Visa Reference Requirement (VDR) guidelines for 2026, identifies African countries whose nationals are eligible for visa-free entry, while travellers from other countries, including Nigeria, are still required to obtain the necessary travel authorisation before arrival. According to the list, citizens of Botswana, Eswatini, The Gambia, Guinea, Kenya, Lesotho, Malawi, Mauritius, Morocco, Seychelles, South Africa, Tanzania, Tunisia, Uganda and Zambia can enter…
Nigeria has been excluded from a group of African countries whose citizens enjoy visa-free entry into South Africa, according to the latest visa exemption framework released by South Africa’s Department of Home Affairs. The updated policy identifies 22 African countries whose nationals holding ordinary passports can travel to South Africa without first obtaining a visa, with the duration of stay ranging from 30 to 90 days depending on nationality and applicable conditions. Countries listed under the visa-free arrangement include Algeria, Angola, Botswana, Cape Verde, Congo, Egypt, Ethiopia, Gabon, Ghana, Guinea, Côte d’Ivoire, Kenya, Eswatini, Lesotho, Madagascar, Malawi, Mali, Mauritius, Morocco,…
Nigeria’s financial system is projected to receive a liquidity injection of about N3.12 trillion this week, driven largely by the maturity of Open Market Operations (OMO) bills, according to the latest weekly market report by the Financial Markets Dealers Association (FMDA). The report showed that total expected inflows into the financial system would increase by 24.8 per cent, rising from N2.50 trillion recorded in the previous week to N3.12 trillion. According to the FMDA, OMO maturities will account for the bulk of the expected liquidity, increasing to N2.97 trillion from N2.21 trillion in the preceding week, underscoring the Central Bank…
The Debt Management Office (DMO) has announced plans to raise between N1 trillion and N1.2 trillion through the reopening of three Federal Government of Nigeria (FGN) bonds at its July bond auction, as the Federal Government continues to finance budgetary needs through the domestic debt market. The bond auction comes amid sustained liquidity management by the Central Bank of Nigeria (CBN), which has continued to deploy Open Market Operations (OMO) to mop up excess liquidity from the financial system. The apex bank’s tight monetary stance has kept yields on government securities elevated, making FGN bonds increasingly attractive to institutional investors…
Global cocoa prices have climbed to their highest level in 24 weeks, as persistent heavy rainfall across key producing countries, including Nigeria, Ghana, and Côte d’Ivoire, has raised concerns over potential supply disruptions and crop damage. The rally marks a strong recovery for cocoa futures, which had fallen sharply earlier this year after retreating from the record highs recorded in 2024. Market analysts say the latest surge is being driven by fears that excessive rainfall could reduce yields and worsen disease outbreaks in West Africa, the world’s leading cocoa-producing region. September cocoa futures on the Intercontinental Exchange (ICE) in New…
Zamfara State Government has taken a major step toward expanding its mining industry with the unveiling of a $200 million lithium mining and processing plant expected to create about 2,000 jobs and strengthen value addition in Nigeria’s solid minerals sector. The facility, located in Boko, Zurmi Local Government Area, was inaugurated by Governor Dauda Lawal, who described the investment as a milestone in the state’s industrialisation drive and its efforts to attract responsible investors into the mining industry. The project is a joint venture involving ZAM Mining Company Ltd, Bima Mines Ltd, Jinlide Mining Co. Ltd. and other partners. Speaking…
The Nigerian government’s decision to establish a centralized livestock data system is expected to strengthen planning, investment, and sustainable livestock development in Nigeria, a move that aligns closely with the goals of the Promotion of Agro-Sylvo-Pastoral and Fisheries Systems in West Africa and the Sahel (ReJPAH-AOS), which seeks to improve governance, resilience, and productivity across integrated agricultural systems in the region.