FATF delisting major boost to Nigerian economy-

The removal of Nigeria from the Financial Action Task Force (FATF) grey list would enhance investors’ confidence and inflows of investments into the economy. Commendations continued to trail the weekend removal of the country from the grey list, with experts describing the achievement as a reflection of improvements in the country’s financial and economic regulatory systems. The naira yesterday recorded significant gains, appreciating by N10 per dollar and closing the day at  N1,486 per dollar at the parallel markets……..(Read More)

Equities lose N94bn as investors take profit on blue chips-

The Nigerian equities market opened the week on a bearish note as investors embarked on profit-taking in some high-cap stocks, leading to a loss of N94bn in market capitalisation at the close of trading on Monday. Data from the Nigerian Exchange Limited showed that the market capitalisation dipped to N98.7tn from N98.8tn recorded on Friday, representing a 0.1 per cent decline. Similarly, the benchmark index fell by 148.90 points to close at 155,496.15………(Read More)

FCMB’s N160bn offer will support resilient financial institution – CEO-

The Group Chief Executive Officer of the FCMB Group, Ladi Balogun, has said that the holdco’s N160bn public offer would support the building of a stronger financial institution. Balogun said this at the recently held ‘Facts Behind the Offer’ presentation at the Nigerian Exchange Limited, where he emphasised that the offer marked a critical phase in the group’s recapitalisation programme……..(Read More)

$34.5bn electricity gap tops agenda at Nigeria Energy conference-

Nigeria’s energy sector stakeholders will this week confront one of the sector’s biggest challenges, which is closing the $34.5bn funding gap needed to achieve universal electricity access by 2030, as stakeholders gather in Lagos for Nigeria Energy 2025. The three-day conference, which opens today at the Landmark Event Centre, Lekki, Lagos, will bring together government officials, regulators, investors, and innovators under the theme ‘Powering Nigeria Through Investment, Innovation and Partnership’………(Read More)

Why $120bn hydrocarbon resources not benefitting Africa – Tinubu- 

President Bola Tinubu yesterday declared that Africa’s $120 billion worth of hydrocarbon resources must be made to benefit the continent and its people. He spoke at the 19th edition of the OTL Africa Energy Week in Lagos, maintaining that limited refinery capacity and distribution network in Africa have led to exports of larger chunk of oil and gas expenditure to countries outside Africa’ He advocated for a change of status quo through fixing of refinery capacity and distribution network challenges………(Read More)

Trump and Takaichi Reaffirm Trade Agreement, Secure Minerals Pact-

US President Donald Trump and Japanese Prime Minister Sanae Takaichi held their first summit in Tokyo on the 28th and reaffirmed their firm commitment to implementing the “historic US-Japan Agreement” agreed upon by the two countries last July, the White House announced. Following the trade agreement, the US and Japan had already formalized this once through a “fact sheet,” and on this day, they reaffirmed their commitment to implementing the agreement through a document titled *Toward a New Golden Era of the U.S.-Japan Alliance*, which contains the signatures of Trump and Takaichi……..(Read More)