The Central Bank of Nigeria (CBN) cut stop rates on longer-dated Treasury bills at its 25 March auction, even as investors poured in about N2.7 trillion in subscriptions for one-year instruments. The move leveraged a liquidity surplus estimated at over N8 trillion in the financial system, enabling the government to reduce borrowing costs without dampening investor appetite. Stop rates on the 182-day and 364-day bills fell by 20 basis points to 16.42 percent and 16.43 percent, respectively, while the 91-day bill held steady at 15.95 percent—signalling easing yield pressures despite strong demand for longer tenors. The CBN offered N400 billion…
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The Central Bank of Nigeria (CBN) has announced the successful conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion in fresh capital over 24 months. In a press statement issued on April 1, the apex bank said the exercise, which commenced in March 2024, has significantly strengthened the resilience of the financial system and enhanced banks’ capacity to support economic growth. According to the CBN, the programme attracted strong participation from both domestic and international investors, with 72.55 per cent of the capital sourced locally and 27.45 per cent from foreign markets—an indication…
The war involving Iran has moved from a geopolitical story to a supply chain shock—and fast. At the centre of it all is the Strait of Hormuz. In normal times, roughly a quarter of global seaborne oil flows through that narrow channel. Today, it’s partially blocked, militarised, and unpredictable. That matters more than most people realise, especially in Africa. This is not just an oil story. Yes, oil is the headline. The International Energy Agency is already calling this the largest disruption in oil market history, with up to 30% of global oil flows affected. Prices are responding accordingly. Analysts…
Nigeria’s Minister of Power, Adebayo Adelabu, has resigned from his position. In a resignation letter addressed to President Bola Ahmed Tinubu, Adelabu said his decision was driven by his ambition to contest the Oyo State governorship. “I write with profound gratitude to Your Excellency to formally tender my resignation from my position as the Honourable Minister of Power, Federal Republic of Nigeria. I sincerely thank you for the confidence reposed in me and the opportunity to serve our great nation under your administration. “It has been a privilege contributing to efforts aimed at strengthening Nigeria’s power sector in line with…
The African Export-Import Bank (Afreximbank) has underwritten $2.5 billion of a $4 billion senior syndicated term loan for the Dangote Petroleum Refinery & Petrochemicals, reinforcing its role in financing large-scale industrial projects across Africa. The five-year facility, arranged with Access Bank as co-mandated lead arranger, will refinance existing debt, optimise the refinery’s capital structure, and align financing with its current operational needs. With a refining capacity of 650,000 barrels per day, the Dangote facility remains Africa’s largest refining and petrochemical complex. The new financing is expected to strengthen its balance sheet while supporting ongoing expansion plans. President and Chairman of…
The Central Bank of Nigeria (CBN) has introduced a mandatory Cybersecurity Self-Assessment Tool (CSAT) for all regulated financial institutions, in a decisive move to strengthen the resilience of Nigeria’s banking sector against escalating cyber threats. In a statement issued by the apex bank, the initiative was anchored on its statutory mandate under the Banks and Other Financial Institutions Act 2020, reinforcing its oversight role in safeguarding financial system stability. The CSAT is designed as a supervisory instrument to evaluate the robustness of cybersecurity frameworks across banks and other financial entities. It focuses on critical areas such as risk management protocols,…
The National Drug Law Enforcement Agency (NDLEA) and the United States Drug Enforcement Administration (US-DEA) have reaffirmed their commitment to deepening bilateral cooperation to dismantle drug cartels and cut off funding sources for terrorism and other transnational crimes. This resolve was expressed on Tuesday at a joint strategic counter-narcotics workshop held at the NDLEA headquarters in Abuja, where both agencies outlined plans to intensify intelligence sharing, joint operations, and coordinated enforcement actions over the next year. The Chairman of NDLEA, Mohamed Buba Marwa, described the workshop as “strategic and timely,” noting that it aims to align enforcement leadership from Nigeria…
Governors of the 19 northern states, under the Northern States Governors’ Forum (NSGF), have reaffirmed their support for Bola Tinubu, citing ongoing efforts to tackle insecurity and drive development across the region. The position was reached after a meeting held at the Gombe State Governor’s Lodge in Asokoro, Abuja, where the governors pledged closer collaboration with the Federal Government and security agencies to address evolving threats. Chairman of the forum and Gombe State Governor, Inuwa Yahaya, who issued the communiqué, said the governors were aligned with the President’s approach to restoring peace and stability, noting that joint efforts were already…
While the term “war” may suggest a confrontation between equals, the USA/Israel-Iran conflict is marked by a significant imbalance in power and resources. Thus, a more accurate analogy would be a struggle between a cat and a rat, emphasizing Iran’s disadvantage. Still, international conflicts are complex, often defy logic, and are rarely resolved by force alone; the ‘might-is-right’ doctrine does not hold water. The Middle East crisis must be understood through the lens of these imbalances and complexities, forming the basis of this analysis. On February 28, 2026, the world experienced a seismic shift, one that many people did…
Massive protests against President Donald Trump’s second-term policies are set for Saturday, with organizers expecting millions to rally nationwide under the “No Kings” banner. This grassroots movement, now in its third major outing since January 2025, channels opposition to what critics call authoritarian tactics and erratic governance. The spark? Trump’s recent military push alongside Israel in Iran, layered atop grievances like executive overreach, Justice Department targeting of rivals, fossil fuel priorities amid climate woes, and crackdowns on diversity initiatives. CLICK TO WATCH https://www.facebook.com/share/v/1C8wgqKEyu Past events drew crowds: June’s protest on Trump’s 79th birthday pulled several million, coinciding with his Washington…