Market Updates

FG begins $100m equity funding for oil firms The Federal Government, through its Nigerian Content Development and Monitoring Board, on Tuesday signed a memorandum of understanding with the Bank of Industry to manage the $100m allotted to the newly established equity investment scheme. At the ongoing Practical Nigerian Content Forum,... Read More →

CBN orders 48-hour refunds for APP fraud victims The Central Bank of Nigeria has proposed new rules requiring banks and other financial institutions to refund victims of Authorised Push Payment fraud within 48 hours of investigations being concluded. This is according to the draft “Guidelines for Handling Authorised Push Payment... Read More →

‘Nigeria needs preventive risk frameworks’ The Head of the Civil Service of the Federation, Didi Walson-Jack, has called on institutions in the country to shift from reactive responses to preventive, forward-looking strategies in risk management. Walson-Jack made the call in Abuja at the 15th Annual Risk Professionals International Conference, organised... Read More →

Banks, fintechs unite to tackle $5bn payment inefficiency African banks, fintechs, and policymakers converged in Lagos on Tuesday for the inaugural Pan-African Payment and Settlement System COWRY event, marking a step towards a more integrated continental payment infrastructure. The banking executives underscored the persistent inefficiencies in cross-border payments, noting that... Read More →

Nigeria’s Eurobonds defy rising insecurity The Nigerian Eurobonds market held firm in November, with yields extending their downward trend even as a surge in domestic insecurity drew sharp scrutiny from the United States. The average yield on all 13 existing FGN Eurobonds fell 69 basis points in a month to... Read More →

NDIC seeks NIESV’s collaboration to protect bank depositors The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Thompson Sunday, has called on the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to deepen collaboration with the Corporation to safeguard bank depositors. The NDIC boss, who stressed the importance... Read More →