May 2026 – Page 86 – Rise Africa

CBN Liquidity Squeeze Drives OMO Yield to 20.87%

20.05.2026

The liquidity management strategy of the Central Bank of Nigeria has pushed the average benchmark yields on Open Market Operations bills upward to 20.87 per cent. This development reflects the apex bank’s sustained hawkish monetary stance aimed at mopping up excess system liquidity and curbing persistent inflationary pressures in the economy. Financial analysts tracking the...

South African investors eye Dangote refinery stakes

20.05.2026

South Africa’s leading pension and investment institutions are eyeing investment opportunities in the Dangote Petroleum Refinery and Petrochemicals following a high-level visit to the facility. According to a statement by the company on Tuesday, the delegation from the South African Government Employees Pension Fund, the Public Investment Corporation, and Alterra Capital Partners toured the Dangote...

Fayemi on Nigeria’s Tourism: Why Great Ideas Fail

20.05.2026

Former Governor of Ekiti State, Kayode Fayemi, has lamented the failure of successive governments to sustain tourism initiatives in Nigeria, saying the country’s tourism graveyard is filled with great ideas. Fayemi stated that many tourism programmes introduced by governments across the country collapsed because they were built around individuals and political administrations rather than durable...

Dangote unveils plan for multi-billion-dollar Olokola seaport

20.05.2026

Dangote Industries Limited has commenced preliminary processes for the construction of a deep-sea port spanning over 10,000 hectares at the Olokola Free Trade Zone in Ogun State, as part of plans to expand into logistics, maritime infrastructure, and export-led industrialisation. In a statement, the company said the multi-billion-dollar project is aimed at transforming the group...

Oil Hits $111 Amid US-Iran Tensions and Peace Talks

20.05.2026

The Brent crude oil price rose to $111.4 per barrel on Tuesday from $110 on Monday, despite ongoing peace talks between the United States and Iran, according to data from Oilprice.com. On Tuesday, US Vice President JD Vance said the United States and Iran have made significant progress in their talks and that neither side...

Nigeria, Benin deepen cross-border security and trade

20.05.2026

The Director-General of the National Boundary Commission, Nigeria, Adamu Adaji, has reiterated the importance of enhanced border demarcation in promoting cross-border cooperation, strengthening regional security, and improving the livelihoods of border communities across West Africa. A statement from the commission on Monday stated that Adaji disclosed this through the Head of Cross Border Cooperation, Dr...

Dangote Refinery Reduces Jet Fuel Price to N1,650/Litre

20.05.2026

The Dangote Petroleum Refinery has dropped the price of jet fuel from N1,750 to N1,650 per litre. The company disclosed this in a statement made available to The PUNCH on Monday. Recall that airlines in Nigeria recently threatened to stop operations due to the rising cost of aviation fuel. Since the advent of the US-Iran...

Veritasi Homes raises N16.76bn in Commercial Paper issuance

20.05.2026

Pathway Advisors Limited, a leading issuing house and financial advisory firm, has completed the Series 2 Commercial Paper issuance for Veritasi Homes & Properties Plc, raising N16.76bn. The Series 2 offer, issued under Veritasi Homes’ newly registered N20.00bn Commercial Paper Programme, significantly outperformed its initial N12.00bn target due to robust institutional demand. The 364-day instrument...

PremiumTrust Bank Supports SMEs with N50m in Grants

20.05.2026

PremiumTrust Bank has partnered with the Hallelujah Challenge Corporate Social Responsibility team to reward 13 entrepreneurs and small business owners with a total of N50m in business grants. The initiative, announced in a statement by the bank on Sunday, is designed to serve as a strategic intervention for small businesses, which the financial institution described...

Immigration & Lasaco Partner for Institutional Growth

20.05.2026

The Nigeria Immigration Service, Lagos State Command, has entered into a collaborative partnership with Lasaco Assurance Plc to drive sustainable institutional growth and operational synergy. According to a statement from the firm, the partnership is a strategic move to bridge the gap between public service efficiency and private sector innovation. The partnership was solidified during...