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CBN Liquidity Squeeze Drives OMO Yield to 20.87%

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...
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South African investors eye Dangote refinery stakes

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...
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Fayemi on Nigeria’s Tourism: Why Great Ideas Fail

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...
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Dangote unveils plan for multi-billion-dollar Olokola seaport

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

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...
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Nigeria, Benin deepen cross-border security and trade

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...
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Veritasi Homes raises N16.76bn in Commercial Paper issuance

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...
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PremiumTrust Bank Supports SMEs with N50m in Grants

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...
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Immigration & Lasaco Partner for Institutional Growth

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...
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I apologise for saying no heaven without tithe – Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...