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Nigerian Exchange Sheds N110bn As Investor Sentiment Weakens

Stock Exchange Closes Trading Week With N30bn Gain

The Nigerian Exchange (NGX) shed more than N110 billion in market value as investor confidence continued to slip, dragging the year-to-date performance down to 40.86%.

The All-Share Index recorded another decline, pressured by losses across major sectoral indices. The persistent retreat highlights the cautious trading stance adopted by investors who are still processing the long-term implications of the recently introduced capital gains tax, despite policy clarifications issued by authorities.

Sentiment remained poor across several blue-chip counters, especially within the financial services sector. The benchmark index dropped by 173.26 basis points, closing at 144,986.51, while total market capitalization dipped by ₦110.19 billion — a 0.12% slide — settling at ₦92.21 trillion.

Stockbrokers confirmed that investors collectively lost about ₦110 billion. Market activity showed a mixed performance: the total traded volume climbed by 5.72%, but the value of trades fell sharply by 45.89%.

Data from Atlass Portfolio revealed that roughly 381.23 million units, valued at ₦16,717.22 million, were exchanged across 21,827 transactions.

TANTALIZER dominated market activity, accounting for 16.08% of total traded volume. It was trailed by STERLINGNG (8.59%), UNIVINSURE (7.69%), VERITASKAP (6.91%), and ACCESSCORP, which contributed 4.23%.

On the value chart, ARADEL took the lead, representing 19.23% of the total transaction value. NCR topped the gainers’ log with a 9.95% jump, closely followed by UPL (+9.80%), TANTALIZER (+9.79%), CAVERTON (+9.57%), UNIONDICON (+9.52%), and UNIVINSURE (+9.24%). More than twenty other stocks also closed in the green.

A separate group of twenty-eight equities depreciated as sell pressure spread across the market. LIVINGTRUST led the losers’ list with a 9.90% decline, followed by MCNICHOLS (-9.00%), LIVESTOCK (-7.75%), REGALINS (-6.56%), UPDC (-6.14%), and DAARCOMM (-5.94%).

Consequently, market breadth closed negative, with 26 gainers and 28 losers. Sectoral indices delivered a mixed outcome: Banking, Consumer Goods, and Oil & Gas fell by 0.90%, 0.02%, and 0.04%, respectively, while the Insurance index posted a mild 0.13% uptick.

The industrial goods and commodity indices ended flat. Overall market sentiment remained subdued, mirroring the negative price trend. Although trading volume rose 5.72% to 381 million units, both the volume of deals and total traded value slumped by 21.98% and 45.89%, closing at 21,827 deals and ₦16.71 billion, respectively.

Nigerian T-Bills Yield Holds Above Inflation As Investors Position Ahead Of Auction

Naira Edges Higher As FX Reserves Rise And Market Liquidity Tightens

Federation Account Amasses Over ₦5trn In 6months- RMAFC

The naira posted a slight rebound against the US dollar at the official market on Monday, supported by an uptick in Nigeria’s external reserves, according to newly released Central Bank data.

The currency’s appreciation remained modest, with trading activity on the parallel market staying largely subdued as market watchers anticipated additional FX liquidity injections from the CBN.

The naira has considerably weakened throughout November, slipping from N1,426 to N1,448 at the official window despite continued FX interventions. Market pressure persisted as the spot rate touched an intraday high of N1,459 — a significant jump from the N1,450 recorded the previous session. Some trades closed at an intraday low of N1,440, unchanged from prior levels.

This trading pattern suggests that the CBN supplied dollars into the official market to prevent the spot rate from breaching its current band.

The forex market eventually closed with the naira settling at N1,447.35 per dollar — a 4-basis-point improvement from Friday’s N1,448.03. In contrast, the parallel market remained unchanged at N1,470 per dollar.

Nigeria’s external reserves increased to $43.971 billion on Monday, up from $43.64 billion, the CBN confirmed.

Meanwhile, global commodity markets saw mixed movement. Oil prices strengthened on Tuesday amid volatile trading as investors assessed the effects of Western sanctions on Russian crude and comments by U.S. President Donald Trump confirming that interviews had commenced for the next Federal Reserve chair.

Brent crude gained 67 cents, or 1.04%, to reach $64.87 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed 88 cents, or 1.47%, to $60.74.

Gold prices also rose from a one-week low, backed by soft U.S. employment figures. Investors monitored the likelihood of a Federal Reserve rate cut in December as multiple U.S. data releases faced delays.

Spot gold advanced 0.81% to $4,077.57 per ounce, while U.S. gold futures saw a marginal increase of 0.04% to $4,075.96 per ounce.

Analysts anticipate continued volatility across commodities, noting that oil prices may face renewed pressure as Russian shipments resume and geopolitical risks persist, while gold could struggle due to a firmer U.S. dollar and reduced expectations of early Fed easing.

Overnight Lending Rate Softens As Liquidity Narrows In Banking System

Nigeria’s Foreign Reserves Surpass $46bn Amid Stronger FX Inflows

Nigeria’s external reserves have climbed beyond the $46 billion threshold, according to Central Bank of Nigeria (CBN) Governor Yemi Cardoso, who delivered the update at a public forum.

Cardoso — represented by Dr. Muhammad Abdullahi, Deputy Governor of the Economic Policy Directorate — made the disclosure during the opening session of the Monetary Policy Department’s 20th anniversary colloquium held at the CBN headquarters in Abuja.

He announced that the reserves have hit a level last recorded in 2018, noting that the volume is capable of financing more than 10 months of import demand. Dr. Abdullahi added that lending rates are likely to ease in the near term as inflation moderates, boosting credit access and supporting stronger investment inflows.

Fresh data published by the CBN showed that the naira weakened slightly by 0.4% at the official window, where the US dollar traded at N1,448.03 on Monday, compared to N1,442.43 on Friday in the Nigerian Foreign Exchange Market (NFEM).

However, the currency appreciated marginally in the parallel market, gaining N2 to close at N1,455 on Monday from N1,457 the previous trading day. The rise in reserves, which has now reached $46.7 billion, has been linked to recent Eurobond issuances by the federal government and improved foreign exchange inflows.

October 2025 emerged as the strongest month for FX inflows since May, supported by better macroeconomic stability and heightened interest from offshore investors seeking opportunities in Africa’s largest economy.

Despite the improvement in inflows, Foreign Direct Investment (FDI) numbers dipped by 25% month-on-month to $222 million, underscoring persistent structural hurdles such as insecurity and policy inconsistencies that continue to discourage long-term capital.

Updated figures from the CBN portal further indicated that total external reserves stood at $43.971 billion as of November 17.

Nigerian T-Bills Yield Holds Above Inflation As Investors Position Ahead Of Auction

PDP Crisis Worsens As Wike-Backed Faction Expels Makinde, Turaki, Others

PDP Reverses Fayose, Other Members Suspension

The internal crisis within the Peoples Democratic Party (PDP) intensified on Tuesday after a faction of the National Executive Committee (NEC), led by Alhaji Abdulrahman Mohammed, announced the expulsion of key party leaders, including Governors Seyi Makinde of Oyo, Bala Mohammed of Bauchi, and Dauda Lawal of Zamfara.

The group also declared the removal of the party’s newly appointed National Chairman, Senator Tanimu Turaki, alongside Board of Trustees Chairman, Senator Adolphus Wabara, and Deputy National Chairman (South), Taofeek Arapaja.

Others affected by the expulsion include South-South Caretaker Committee Chairman Emmanuel Ogidi and several additional party figures, all accused of engaging in anti-party activities.

Tensions escalated earlier in the day when factions loyal to Makinde and Mohammed clashed with another bloc aligned with the Minister of the FCT, Nyesom Wike, as both attempted to hold separate meetings at the PDP national headquarters in Abuja.

Senator Samuel Anyanwu, the embattled National Secretary, disclosed the decisions while presenting the communiqué of the contentious 103rd NEC meeting convened by the faction.

He stated that the factional NEC affirmed the expulsions, citing alleged violations of court rulings that have thrown the party into disarray.

According to Anyanwu, the actions of the expelled members — including organizing and participating in what he described as an illegal and unauthorized convention — resulted in heightened confusion, factional divisions, and the defection of several governors and lawmakers.

He further explained that the acting National Chairman’s report identified breaches of Articles 58(1) and 59(1), encompassing anti-party actions, failure to comply with court orders, and conduct that brought the PDP into public disrepute.

Anyanwu said the NEC authorized disciplinary proceedings against several prominent figures, including Adolphus Wabara, Olabode George, Ben Obi, Kabiru Tanimu Turaki (SAN), Bala Mohammed, Oluseyi Makinde, Dauda Lawal, Taofiq Arapaja, and Setonji Koshoedo, among others.

The NEC also directed Chief Ali Odefa to refund all salaries and allowances received after his expulsion on December 12, 2024.

Furthermore, the faction endorsed the dissolution of party State Executive Councils in Bauchi, Oyo, Zamfara, Yobe, Lagos, Edo, and Ekiti.

Caretaker committees are to be appointed immediately to oversee fresh congresses, with the Edo State executive led by Nosa Ogieva declared the only valid structure.

The NEC also ordered deputy officeholders in all affected National Working Committee (NWC) positions to assume acting roles and continue as substantive NWC members.

Additionally, the faction formally confirmed Alhaji Mohammed Abdulrahman as Acting National Chairman of the PDP.

The legal department and NWC were instructed to initiate constitutional processes to reclaim seats held by all elected officials who have defected, in accordance with Sections 68(1)(g) and 109(1)(g) of the 1999 Constitution.

The NEC announced a reconciliation initiative aimed at unifying the party without compromising discipline. A nationwide membership audit and revalidation exercise is also set to start ahead of the 2027 elections.

Anyanwu assured party members that the decisions were necessary to restore order, reiterating that the PDP would no longer tolerate indiscipline or disregard for established rules.

Earlier, BoT Chairman Senator Mao Ohuabunwa and Abdulrahman urged members to remain resolute, maintaining that the party would overcome its challenges.

Nigerian T-Bills Yield Holds Above Inflation As Investors Position Ahead Of Auction

CBN Conducts Fresh OMO Auction, Mops Up N2.98 Trillion To Curb Excess Liquidity

The Central Bank of Nigeria (CBN) has drawn nearly N3 trillion from the financial system following its latest open market operations (OMO) sale on Tuesday, as the regulator intensifies efforts to contain rising liquidity pressures across the money market.

During the auction, the CBN offered N600 billion worth of OMO instruments spread evenly across short-dated maturities, a move that coincided with heavy inflows from maturing securities. Investors were invited to subscribe to Nigerian OMO bills with 175-day and 182-day tenors.

With the financial system recording inflows of roughly N1.4 trillion, the apex bank considered the liquidity surge significant enough to warrant another primary market issuance. According to figures from AIICO Capital Limited, excess liquidity in the market has now expanded to N5.4 trillion, driven by a wave of maturing short-term notes.

In the secondary market, OMO yields climbed as portfolio managers reduced their exposures. Conversely, the treasury bills market traded quietly, prompting a general decline in average yields.

Across board, yields compressed by 1 basis point each in the short, mid, and long ends of the curve. The dip was supported by rising demand for the 79-day, 170-day, and 352-day bills.

By contrast, average yields in the OMO segment widened by 6bps, settling at 21.8%, as investors priced in the effect of the fresh supply.

FX Daily: Naira Weakens By ₦5.60 Against Dollar As Demand Persists

Dollar Trades Mixed As Global Markets Brace For Key U.S. Jobs And Inflation Data

BREAKING: US, FG Sign Agreement To Return $23m Abacha-loot

The U.S. dollar moved inconsistently against major global currencies on Tuesday as investors positioned ahead of crucial U.S. labour and inflation data, following weeks of speculation surrounding a potential Federal Reserve rate cut in December.

The euro–dollar pair steadied around 1.16, recovering from a brief dip below 1.15 earlier in November. The greenback also strengthened against the Japanese yen, advancing 0.46% to 155.26, after nearly touching JPY155.5 during early European trading.

Japan’s economy contracted by 1.8% on an annualised basis in Q3 — slightly better than analysts predicted — an outcome that reinforces expectations that the Bank of Japan will continue to avoid aggressive rate hikes. The yen slid to its weakest level in ten months ahead of discussions between Prime Minister Sanae Takaichi and BOJ Governor Kazuo Ueda. Markets expect the meeting to provide clues on how Tokyo plans to manage yen pressures.

In Asia, the Hong Kong dollar slipped to 7.78 per dollar, its weakest level since October 2025. Over the past month, the USD/HKD pair has risen 0.12%, though it remains marginally weaker on a 12-month basis.

Market sentiment now shifts to upcoming U.S. datasets. The Bureau of Labor Statistics (BLS) will release the September jobs report on Thursday, offering fresh insight into labour-market conditions. After previous 50bps rate cuts, Fed officials have signaled that further easing is uncertain given persistent inflation and low unemployment.

ADP’s private sector employment forecast will arrive a day earlier. Historically, ADP readings have closely mirrored BLS data this year. Between June and August, the BLS estimated average monthly private job growth of 29,000, compared to ADP’s 26,000.

For September, ADP anticipates a 29,000 job decline, the largest drop since March 2023, though October saw a rebound of around 42,000.

The BLS is also expected to publish September CPI figures on Friday, which will guide Social Security cost-of-living adjustments and influence Fed expectations.

Meanwhile, Morgan Stanley anticipates the dollar will weaken through mid-2026 before stabilising. The bank projects the DXY index will fall from approximately 99.45 to 94.00 by mid-year as recessionary risks, labour-market concerns, and uncertain Fed policy weigh on sentiment.

In commodities, gold slipped below $4,000 for the first time in a week before reclaiming ground to trade around $4,050 in Europe. U.S. WTI crude (December contract) hovered near the upper end of Monday’s range, attempting to break above $60 per barrel.

Nigerian T-Bills Yield Holds Above Inflation As Investors Position Ahead Of Auction

Nigeria’s Top Corporates Pay N2.55 Trillion In CIT, Nearly Reaching FG’s 2025 Target

Nigeria’s most valuable listed companies — widely known as SWOOTs (Stocks Worth Over One Trillion Naira) — collectively paid N2.55 trillion in company income tax (CIT) within the first nine months of 2025, putting the Federal Government within reach of its ambitious full-year CIT projection of N2.75 trillion.

The figure marks a 63.74% jump from the N1.56 trillion recorded in the same period of 2024, and represents the strongest nine-month CIT performance ever posted by Nigeria’s major corporates.

In fact, the 2024 tax contribution from these elite firms — exceeding N1.6 trillion — was already greater than the entire CIT projection for that year.

These record filings have become the backbone of the government’s non-oil revenue agenda. The 2025 non-oil revenue forecast now stands at N5.71 trillion, up from N3.52 trillion last year. The reported CIT totals do not include expected dividends from state-owned enterprises such as BOI, DBN, and NLNG, implying that actual non-oil inflows could rise even further.

Banking and Energy Drive Tax Performance

Financial institutions and energy producers accounted for the majority of the 2025 surge, boosted by higher interest yields and better crude-oil output.

Top CIT contributors include:

  • Seplat Energy – N469.33bn (+389.51%)
  • Presco Plc – N32.62bn (+314.59%)
  • GTCO – N247.05bn (+197.11%)
  • Access Holdings – N165.44bn (+188.68%)
  • UBA – N167.14bn (+63.40%)
  • Aradel Holdings – N39.99bn (+159.93%)

However, heavily import-dependent sectors struggled:

  • MTN Nigeria’s CIT fell 82.98% to N21.55 billion due to FX losses and naira pressures.
  • Dangote Cement’s CIT dropped 10.37% to N115.39 billion.

Analysts warn that if economic volatility continues, weak-performing sectors could limit overall tax momentum.

Federal Government Sets Bold Tax Ambitions

The government’s 2025 CIT target of N2.75 trillion represents an 87% increase over the previous year. Given that only 22 listed companies have already paid N2.55 trillion in nine months, experts believe the real opportunity lies in capturing revenue from the thousands of unlisted firms currently under-remitting.

Tax expert and convener of Blakey’s National Tax Conference, Mr. Blakey Ijezie, said that tax reforms beginning January 1, 2026, aim to fix long-standing issues such as evasion, underreporting, and leakages.

Key elements of the reform include:

  • Unified tax administration
  • Mandatory TIN for all taxable entities
  • Expansion to digital assets and new income categories
  • 4% development levy on profits
  • Replacement of pioneer incentive with Economic Development Tax Incentive
  • Creation of a Tax Ombuds Office

He noted that the contribution from just 22 companies highlights significant gaps in Nigeria’s broader tax ecosystem.

Experts Call for an Expanded Tax Base

Dr. David Walker Ogogo, founding Registrar of the Institute of Capital Markets Registrars, warned that excessive dependence on a handful of top firms is “unsustainable,” adding that fiscal strategy must shift toward widening coverage rather than overburdening compliant entities.

Mr. Aruna Kebira, CEO of Globalview Capital Limited, emphasized that telecom, industrial, and power-sector firms require targeted government support to reverse their recent tax declines.

Can SWOOTs Hit the Full-Year Target?

Projections suggest that SWOOTs could surpass the government’s target if current trends persist, particularly in banking and energy. However, outcomes will depend on:

  • Exchange-rate stability
  • Lower financing and energy costs
  • Strong final-quarter earnings
  • Enhanced digital tax-tracking tools under the SRGI

The Strategic Revenue Growth Initiative seeks to lift Nigeria’s tax-to-GDP ratio from its current low base to 15% in 2025 and 18% in 2026, with digital enforcement expected to play a decisive role.

Ijezie concluded that while the performance of Nigeria’s top corporates is impressive, long-term stability depends on ensuring that hundreds of other companies begin contributing meaningfully to national revenue.

Oil Slides As Russian Exports Resume, Easing Market Supply Concerns

Chartered Institute Of Stockbrokers(CIS) – Highlights From Today’s Special Inductions Ceremony

The Chartered Institute of Stockbrokers (CIS) held a Special Induction Ceremony at the Institute’s Secretariat in Lagos to formally admit two distinguished professionals into the prestigious community of Chartered Stockbrokers.

The inductees, Mr. Abayomi Samson Oluyomi, Honourable Commissioner for Finance, Lagos State, and Mr. Oluwole Adelaja Adeniyi, Managing Director, Stanbic IBTC were decorated as Associate Members of the Institute (ACS), having successfully completed all requirements, passed the rigorous CIS professional examinations, and fulfilled the mandatory internship supervised by seasoned professionals in the capital market.

The ceremony was chaired by the 13th President and Chairman of Council, CIS, Mr. Oluropo Dada, FCS, who commended both inductees for their remarkable dedication, resilience, and discipline, given their demanding executive roles. He emphasized the significance of integrity in the stockbroking profession and welcomed both men into the global community of Securities and Investment professionals.

The event was attended by Principal Officers of the Institute, Members of the Governing Council, a Past President, senior Fellows of the Institute, staff, and friends and colleagues of the inductees all gathered to celebrate this milestone achievement.

Please join us in congratulating our newest Chartered Stockbrokers, Mr. Abayomi Oluyomi, ACS, and Mr. Wole Adeniyi, ACS.

We wish them continued success as they bring their wealth of experience to enrich Nigeria’s capital market.

FX Daily: Naira Weakens By ₦5.60 Against Dollar As Demand Persists

Oil Slides As Russian Exports Resume, Easing Market Supply Concerns

Crude oil prices continued their downward movement on Tuesday following confirmation that shipments had resumed at a Russian oil facility previously struck by a Ukrainian drone attack.

Brent crude, the global benchmark, fell to $63.31 per barrel, representing a 0.67% decline from the previous close of $63.74. West Texas Intermediate also retreated by 0.72%, settling at $59.27 from $59.70 in the last session.

The resumption of operations on Sunday after a two-day disruption alleviated market fears of prolonged supply shortages, contributing to the latest price pullback.

Last week, Andrey Kravchenko, the head of the Novorossiysk region, confirmed via Telegram that multiple structures and public infrastructure were damaged in a significant Ukrainian drone attack. The assault also hit an oil depot, leading authorities to declare a temporary state of emergency.

Despite ongoing sanctions on Russia, analysts note that Moscow has found several alternative channels to sustain its oil exports, making long-term supply disruptions less likely unless geopolitical tensions escalate further.

Market participants are also closely tracking developments around US monetary policy. The probability of a Federal Reserve rate cut in December has slipped to 43%, according to money market pricing.

The minutes of the Federal Open Market Committee meeting, due Wednesday, are expected to provide additional clues on the Fed’s rate outlook. Any indication of easing could boost energy demand projections and lend support to oil prices.

Week 19 Pool Result For Sat 8, Nov 2025, UK 2025/2026

FX Daily: Naira Weakens By ₦5.60 Against Dollar As Demand Persists

The naira depreciated by ₦5.60 against the US dollar in the official foreign exchange market on Monday, closing at ₦1,448.0304 amid renewed demand pressures.

A daily trading update from the Central Bank indicated that the currency fluctuated between ₦1,450.25/$ and ₦1,440.00/$ during the session, reflecting tighter supply conditions.

According to a report by AIICO Capital, the latest decline was driven by heightened demand from market participants looking to secure dollar positions.

Traders expect the Central Bank of Nigeria to step up interventions in the coming days in order to ease the pressure. The apex bank injected $50 million into the market last week, but the support did little to shift exchange rate dynamics.

Meanwhile, Nigeria’s gross external reserves climbed by $105.1 million to $43.64 billion as of November 14, 2025, despite growing volatility in global commodity markets.

Oil prices slipped on Monday after cargo loadings resumed at Russia’s Novorossiysk terminal following a two-day shutdown caused by a Ukrainian strike. Brent crude declined by $0.30 to $64.07 per barrel, while US WTI dropped by $0.18 to $59.77.

Gold also edged lower as the stronger dollar and fading expectations of a near-term US rate cut weighed on sentiment. Spot gold fell to $4,063/oz, while US futures slid to $4,020.04/oz.

Analysts expect gold to remain range-bound until fresh US economic indicators are released, while the return of Russian oil exports may keep crude prices under pressure in the near term.

Week 20 Pool Result For Sat 15, Nov 2025, UK 2025/2026

Nigerian T-Bills Yield Holds Above Inflation As Investors Position Ahead Of Auction

Yields on Nigerian Treasury bills continued to trend lower in the secondary market, slipping beneath the 17% threshold as sustained demand for the short-term government debt instrument intensified. Despite the decline, returns on the bills still outpaced headline inflation, widening the real interest rate available to investors.

Market analysts expect spot rates to face further downward pressure across the fixed-income curve as Nigeria’s ongoing disinflation reinforces expectations of monetary policy easing at the Central Bank’s final policy meeting of the year.

Investors were observed making early moves ahead of the upcoming primary market sale, where the Debt Management Office is scheduled to offer ₦700 billion worth of Treasury bills. With liquidity levels remaining elevated, fixed-income analysts project robust participation at the auction.

Based on recent market patterns, traders anticipate a strong tilt toward the 364-day instrument. With headline inflation easing to 16.05%, the market is preparing for notable rate adjustments at Wednesday’s auction, which could produce a real return of around 11%.

Fresh CPI data from the National Bureau of Statistics showed inflation slowing for yet another month, dropping to 16.05% year-on-year in October from 18.02% in September, reinforcing the downward trend.

The steady cooling of inflation has increased calls for the Central Bank of Nigeria to begin reducing its benchmark monetary policy rate, currently at 27%, significantly above the latest inflation reading.

Driven by upbeat market sentiment, traders reported a two-basis-point drop in the average yield of secondary market Treasury bills, settling at 16.96%.

Cordros Capital confirmed yield contractions along the short (-2 bps), mid (-2 bps), and long (-3 bps) ends of the curve. The decline was busiest in paper maturing in 80 days (-2 bps), 171 days (-2 bps), and 353 days (-3 bps).

However, in the OMO segment, yields moved in the opposite direction, climbing by 4 bps to close at 21.8%.

Rivers Marine Technology Centre Graduates 305 Pioneer Trainees

Overnight Lending Rate Softens As Liquidity Narrows In Banking System

Money market rates moved unevenly on Monday as sizable outflows tied to recent Central Bank auctions failed to create major strain within the system.

Data from FMDQ revealed that the overnight lending rate eased slightly as excess liquidity thinned following large OMO bill settlements. Despite the outflows, banks continued to channel funds into the Central Bank’s Standing Deposit Facility, indicating that liquidity conditions remained generally comfortable.

Market players expect Wednesday’s Treasury bills auction, where ₦700 billion will be issued across standard maturities, to further mop up surplus liquidity. Analysts predict strong investor appetite as banks look to funnel idle balances into short-term assets to boost returns.

System liquidity began the session with a surplus of ₦3.9 trillion, a steep drop of about ₦2.3 trillion from the previous level. Total liquidity had recently exceeded ₦6 trillion, buoyed by rising SDF placements from cash-heavy lenders.

The financial system also received support from a ₦254.8 billion bond coupon payment, which injected fresh liquidity across the market.

Funding costs reflected a mixed performance as the overnight lending rate fell by six basis points to 24.86%, while the Open Purchase Rate held steady.

In the secondary Treasury bills market, yields moved in alternating directions across maturities. Nonetheless, the market closed with a two-basis-point decline in the average yield to 16.96%, signaling sustained investor interest and positive sentiment toward government debt.

Rivers Marine Technology Centre Graduates 305 Pioneer Trainees

Ogun Approves New Roads And Housing Projects

Ogun Govt Hires 1,000 Teachers For Public Schools

The Ogun State Executive Council has approved the construction of new roads and housing estates across the state. The decisions were taken on Friday at the first meeting held inside the newly commissioned Executive Council Chamber in Oke Mosan, Abeokuta. Governor Dapo Abiodun presided.

The council approved three major road projects. They include Miliki Junction to Bode Olude to Alhaji Sugar Avenue in Abeokuta North, a 1.05 kilometre stretch with a 10 metre average width. It also approved the reconstruction of Paddy Arikawe Road in GRA Sagamu, measuring 3.39 kilometres at 9 metres wide. The third project is the 5 kilometre Itanrin to Sabo Road in the Ijebu Ode and Odogbolu axis, with a 10 metre width.

The government also approved new housing units. The first site is within the Ogun State Housing Corporation Office in Ibara, Abeokuta. It will contain 26 duplexes. These include 12 five bedroom detached units with two room boys quarters and 14 four bedroom semi detached units with one room boys quarters. Another nine duplexes were approved for the HID Estate at Obasanjo Hilltop. They include five four bedroom detached units with boys quarters and four four bedroom semi detached units.

The council further ratified new declarations for traditional titles. Chief Lai Labode from Abeokuta South was approved as the new Are Egba. Dr Oluwadairo Adeleke, also from Abeokuta South, was approved as Ogboye Egba. The council also endorsed declarations for new traditional rulers in Yewa South, Ipokia, Yewa North and Ado Odo Ota. These include the Ongbeyi of Yewa South, the Olofin of Ijofin, the Elebote of Elebote Iboro, the Awujoko of Ijoko Orile, the Akoko of Tongeji Island, the Oniwuye of Yewa South, the Opo of Idosemo, the Alaye of Oniro Agute I, the Olodan of Odan and the Abujafole of Ado Odo Ota.

Governor Abiodun recently restated his commitment to quality infrastructure. He said the 20 kilometre Akute to Ijoko Road will be completed soon. Speaking at the unveiling of the remodelled Executive Council Chambers, he described the former state of the building as an embarrassment. He said the decision to remodel the structure instead of building a new one was deliberate and cost effective.

FG Approves $125m IsDB Loan For Abia Roads Project

Rivers Marine Technology Centre Graduates 305 Pioneer Trainees

The Centre for Marine and Offshore Technology Development at Rivers State University has graduated its first set of 305 trainees. The four-month programme was run in partnership with the Nigerian Content Development and Monitoring Board and covered seven core courses across four specialised disciplines.

Trainees completed intensive modules in industrial ship design using AVEVA Marine, process pipe stress analysis, pressure vessel and heat exchanger design, big data analytics, transformer repair, class welding, automation, and oil well optimisation.

At the graduation ceremony in the university’s amphitheatre, Chief Executive Officer Vitalis Ahiakwo said the centre is more than a conventional training facility. He described it as a hub of innovation, aimed at transforming academic knowledge into practical skills for the marine, offshore, and energy sectors.

Ahiakwo said the centre is committed to building human capital to drive Nigeria’s blue economy through research, technology transfer, and advanced skill development. He added that the programme positions Nigeria to export highly qualified technology experts while providing local industries with a skilled workforce.

He urged the graduands to embrace innovation and lead technological change. “Do not merely adapt to technological change. Become its architects. Apply your skills with courage, integrity, and vision,” he said.

Elakpa Augustine, Head of Research and Development and Training Coordinator, said the centre is aligning industry practices with the demands of Industry 5.0. He confirmed the curriculum will continue to be updated with the latest global codes, emerging technologies, and academic research.

Stanbic IBTC Insurance Brokers Set To Host Webinar On Marine And Goods-In-Transit Insurance For Businesses

Week 19 Pool Result For Sat 8, Nov 2025, UK 2025/2026

Week 19 pool results 2025: Football pools results, live football pool result today, pool result today saturday matches, pool results for this week, british and aussie pool result, football pools results and fixtures, pools panel results today, pool panel results and live score pool result today. We publish half-time results first of its kind.

Week 19 Pool Results: Football pools results for this week 19 2025 are published on this website immediately after full-time confirmation of live score results. We also publish the outcome of postponed matches by the football pools panel at half-time as decided by the football pools. This week’s Week 19 Pool Results are made available in partnership with Bizwatch Nigeria.

WEEK: 19; SEASON: UK 2025/2026; DATE: 08-November-2025
№Football Pools ResultsHTFTStatus
1Aston VillaBournemouth2-:-04-:-0Home
2BrentfordNewcastle0-:-13-:-1Home
3ChelseaWolves0-:-03-:-0Home
4Crystal P.Brighton0-:-00-:-0noScoreDraw
5EvertonFulham1-:-02-:-0Home
6Man CityLiverpool2-:-03-:-0Home
7Nott’m For.Leeds Utd.1-:-13-:-1Home
8SunderlandArsenal1-:-02-:-2ScoreDraw
9TottenhamMan United0-:-12-:-2ScoreDraw
10West HamBurnley1-:-13-:-2Home
11BlackburnDerby0-:-21-:-2Away
12HullPortsmouth2-:-23-:-2Home
13MiddlesbroBirmingham2-:-12-:-1Home
14MillwallPreston1-:-11-:-1ScoreDraw
15NorwichLeicester0-:-01-:-2Away
16Sheff Utd.Q.P.R.0-:-00-:-0noScoreDraw
17SouthamptonSheff Wed.2-:-13-:-1Home
18StokeCoventry0-:-00-:-1Away
19SwanseaIpswich0-:-11-:-4Away
20West BromOxford Utd.0-:-02-:-1Home
21WrexhamCharlton0-:-01-:-0Home
22BlackpoolCardiff0-:-03-:-1Home
23BoltonPort Vale2-:-04-:-0Home
24Bradford C.Burton A.0-:-21-:-2Away
25DoncasterBarnsley1-:-11-:-2Away
26ExeterWigan A.0-:-11-:-1ScoreDraw
27HuddersfieldPlymouth1-:-03-:-1Home
28NorthamptonMansfield0-:-12-:-1Home
29PeterboroA.Wimbledon3-:-05-:-0Home
30RotherhamLincoln2-:-03-:-0Home
31StockportLuton0-:-20-:-3Away
32WycombeLeyton O.3-:-14-:-1Home
33BarnetMilton K.D.2-:-12-:-2ScoreDraw
34BarrowGrimsby1-:-22-:-2ScoreDraw
35Bristol R.Gillingham0-:-00-:-1Away
36ChesterfieldAccrington1-:-23-:-3ScoreDraw
37ColchesterBromley0-:-00-:-2Away
38CrawleyFleetwood1-:-02-:-1Home
39CreweShrewsbury1-:-13-:-1Home
40HarrogateOldham0-:-10-:-1Away
41Newport Co.Walsall2-:-32-:-4Away
42Salford C.Cambridge U.0-:-00-:-0noScoreDraw
43SwindonTranmere0-:-02-:-1Home
44AberdeenMotherwell0-:-01-:-1ScoreDraw
45CelticKilmarnock1-:-04-:-0Home
46DundeeRangers0-:-20-:-3Away
47FalkirkLivingston1-:-01-:-1ScoreDraw
48HeartsDundee Utd.1-:-11-:-1ScoreDraw
49St MirrenHibernian0-:-10-:-3Away
Week 18 Pool Result For Sat 1, Nov 2025, UK 2025/2026

Week 20 Pool Result For Sat 15, Nov 2025, UK 2025/2026

Week 10 Pool Result for Sat 10 Sept 2022 – UK 2022/2023
Week 10 Pool Result for Sat 10 Sept 2022 – UK 2022/2023

Week 20 pool results 2025: Football pools results, live football pool result today, pool result today saturday matches, pool results for this week, british and aussie pool result, football pools results and fixtures, pools panel results today, pool panel results and live score pool result today. We publish half-time results first of its kind.

Week 20 Pool Results: Football pools results for this week 20 2025 are published on this website immediately after full-time confirmation of live score results. We also publish the outcome of postponed matches by the football pools panel at half-time as decided by the football pools. This week’s Week 20 Pool Results are made available in partnership with Bizwatch Nigeria.

WEEK: 20; SEASON: UK 2025/2026; DATE: 15-November-2025
№Football Pools ResultsHTFTStatus
1AlbaniaEngland0-:-00-:-2Away
2AzerbaijanFrance1-:-31-:-3Away
3BosniaRomania0-:-13-:-1Home
4CyprusAustria0-:-10-:-2Away
5DenmarkBelarus1-:-02-:-2ScoreDraw
6GeorgiaSpain0-:-30-:-4Away
7GreeceScotland1-:-03-:-2Home
8HungaryRep. Ireland2-:-12-:-3Away
9IsraelMoldova1-:-14-:-1Home
10ItalyNorway1-:-01-:-4Away
11KazakhstanBelgium1-:-01-:-1ScoreDraw
12Liech’steinWales0-:-00-:-1Away
13PortugalArmenia5-:-19-:-1Home
14SerbiaLatvia0-:-12-:-1Home
15SloveniaKosovo0-:-10-:-2Away
16SwitzerlandSweden1-:-14-:-1Home
17TurkeyBulgaria1-:-02-:-0Home
18UkraineIceland0-:-02-:-0Home
19AccringtonBristol R.1-:-03-:-1Home
20BromleyBarrow1-:-02-:-1Home
21Cambridge U.Barnet0-:-00-:-0noScoreDraw
22FleetwoodSwindon1-:-11-:-1ScoreDraw
23GillinghamCrawley1-:-02-:-2ScoreDraw
24GrimsbyChesterfield0-:-00-:-1Away
25Milton K.D.Salford C.1-:-02-:-0Home
26Notts Co.Harrogate0-:-11-:-1ScoreDraw
27OldhamCrewe0-:-00-:-0noScoreDraw
28ShrewsburyNewport Co.0-:-01-:-0Home
29TranmereCheltenham2-:-13-:-2Home
30WalsallColchester0-:-20-:-2Away
31AlloaInvernessVoidPPScoreDraw
32C. RangersHamilton2-:-12-:-1Home
33East FifeStenhsemuir0-:-01-:-0Home
34K. HeartsQueen O’Sth0-:-01-:-1ScoreDraw
35PeterheadMontrose0-:-01-:-1ScoreDraw
36AnnanEdinburgh C.0-:-01-:-1ScoreDraw
37ElginDumbarton0-:-02-:-0Home
38SpartansClyde1-:-01-:-1ScoreDraw
39Stirling A.Forfar0-:-20-:-4Away
40StranraerE. Kilbride0-:-01-:-3Away
41AltrinchamBrackley1-:-02-:-1Home
42BraintreeTruro0-:-02-:-0Home
43CarlisleEastleigh0-:-01-:-1ScoreDraw
44Forest G.Gateshead3-:-03-:-1Home
45HartlepoolWealdstone1-:-11-:-1ScoreDraw
46RochdaleAldershot0-:-01-:-0Home
47Solihull M.Scunthorpe2-:-03-:-0Home
48YeovilSouthend0-:-00-:-1Away
49YorkMorecambe1-:-14-:-2Home
Week 18 Pool Result For Sat 1, Nov 2025, UK 2025/2026

NADDC Pushes For Higher Local Content In Nigeria’s Auto Parts Industry

The National Automotive Design and Development Council has renewed its push for increased local content in Nigeria’s auto parts production. The Council said stronger collaboration among lawmakers, manufacturers and regulators is critical to unlocking growth in the sector.

Speaking in Abuja at a Senate Committee on Industries roundtable, NADDC Director General Oluwemimo Joseph Osanipin said the industry needs coordinated policy support to attract new investment. He noted that the automotive sector drives economic activity because it is linked to agriculture, manufacturing and services.

Osanipin said the Council wants senators to understand the challenges facing manufacturers. He added that many of the issues can be addressed through legislation. He explained that the goal is to create a policy pathway that supports innovation, investment and industrial growth.

He said manufacturers must improve their standards to compete and that NADDC is setting up test centres to strengthen certification. He highlighted the high cost of production, expensive loan rates and costly imported components as major pressures on local manufacturers.

Osanipin said these challenges make it difficult for producers to scale and remain competitive. He stressed that the meeting aims to encourage manufacturers and ensure that products entering the Nigerian market meet minimum standards.

Senator Francis A. Padahunsi said the forum seeks to close the gap between the industry’s potential and its current state. He called for a review of the implementation of the Nigerian Automotive Industry Development Plan and urged stakeholders to push for better local content and backward integration.

Stakeholders at the meeting agreed that Nigeria needs a more supportive environment to promote local production and reduce reliance on imported vehicle parts.

Nigeria Customs Launches Automated Overtime E-Clearance System To Ease Port Congestion

Dollar To Naira Exchange Rate For 18th November 2025

Dollar To Naira Exchange Rate For 8th Dec 2023

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1450.00 per $1 on Tuesday, November 18th , 2025. The naira traded as high as 1435.00 to the dollar at the investors and exporters (I&E) window on Monday.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1463 and buy at ₦1450 on Monday 17th November, 2025, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1463
Buying Rate₦1450

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1444
Lowest Rate₦1435

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

FG Pushes For Nigerian-Owned Aircraft Leasing Firms To Boost Aviation Financing

FG Pushes For Nigerian-Owned Aircraft Leasing Firms To Boost Aviation Financing

The Federal Government has called for the creation of Nigerian-owned aircraft leasing companies to deepen aviation financing and support fleet upgrades across local airlines. The Minister of Aviation and Aerospace Development, Festus Keyamo, made the call at the 2025 FAAN National Aviation Conference in Lagos. He was represented by the ministry’s Permanent Secretary, Dr Ibrahim Kana.

The minister said Nigeria’s aviation market is large and strategically positioned and that the government’s investment priorities are structured to attract private-sector participation through transparent PPP arrangements. He noted that Nigeria’s improved legal framework for aviation financing has created a stronger business environment for local leasing firms and will help airlines access funding for fleet expansion.

Keyamo said Nigeria is ready for investors because the foundation has been strengthened and the opportunities are clear. He identified areas that can attract investors. They include terminal upgrades, runway rehabilitation, cargo complexes, and the development of a regional MRO centre that will serve West and Central Africa.

The minister said Africa loses billions yearly to offshore aircraft maintenance. He added that a functional MRO hub in Nigeria will reduce costs, retain capital, and create high-skill jobs. He also said the government is working on dedicated cargo and logistics hubs across selected airports to support agricultural and manufacturing exports.

Nigeria recently exited the Aviation Working Group watchlist after scoring 75.5 percent on the Cape Town Convention Compliance Index. Industry players noted that airlines may need up to two years before the improved compliance begins to reflect in financing arrangements.

President Bola Tinubu, represented by the Secretary to the Government of the Federation, Dr George Akume, opened the conference and said aviation remains critical to economic growth, regional connectivity, and job creation. He highlighted recent upgrades at airports in Lagos, Port Harcourt, Abuja, Enugu, and Kano.

FAAN’s Managing Director, Mrs Olubunmi Kuku, outlined ongoing modernisation efforts. She listed terminal upgrades, runway maintenance, digital systems, staff training, and the adoption of ISO-accredited processes to improve service quality and attract investors.

State governments also presented investment plans. Plateau State’s delegation announced a N47.54 billion plan to remodel Yakubu Gowon Airport into a Fresh Cargo Hub with new runways, warehouses, cold storage facilities, and handling equipment. Imo State Governor Hope Uzodimma said upgrades at Sam Mbakwe International Cargo Airport include night landing facilities. He added that the state is seeking a PPP concession to unlock the terminal’s export potential and link it with the Orashi Special Energy Free Trade Zone.

Keyamo Faces Backlash, Stands By N712bn Airport Renovation Plan

Tinubu, Keyamo Court Global Investors For Nigeria’s Under-Exploited Aviation Sector

President Bola Tinubu has called on international investors to take advantage of the vast opportunities in Nigeria’s aviation industry, describing the sector as one of the most viable and under-exploited markets in Africa.

Speaking through the Secretary to the Government of the Federation, George Akume, at the FAAN National Aviation Conference 2025 in Lagos, the President said Nigeria’s population of over 220 million and its strategic geographic location make it a natural hub for trans-African and intercontinental aviation.

Tinubu said the country’s aviation market still has significant unmet demand across cargo operations, maintenance, repair and overhaul (MRO) facilities, aircraft leasing, charter services and aviation-linked real estate. He added that the administration’s investments in infrastructure and regulatory reforms over the past two years have strengthened the industry’s fundamentals.

He listed recent progress, including new international terminals in Lagos and Port Harcourt, rehabilitation works across major airports, stronger regulatory oversight, expanding cargo and MRO projects in Lagos and Kano, and ongoing work on a framework for a national carrier.

According to him, current market conditions present real, immediate opportunities for global players as the African Continental Free Trade Area (AfCFTA) creates demand for efficient air logistics across a market estimated at $1.7 trillion.

Aviation and Aerospace Development Minister Festus Keyamo, represented by Permanent Secretary Dr. Ibrahim Kana, highlighted specific investment prospects, including airport modernisation, public-private partnerships for terminals and runways, a regional MRO centre, aviation financing and leasing, and dedicated cargo and logistics hubs to support agro-exports and manufacturing.

He said the ministry had moved from “problem-spotting to solution-building,” adding that investor confidence is rising as reforms reshape the operating environment.

FAAN Managing Director/CEO Olubunmi Kuku said Nigeria’s infrastructure gaps, foreign exchange pressures and rising passenger demand present clear opportunities for global partners willing to invest in terminal upgrades, cargo facilities, airport cities, management technology and sustainable aviation solutions. She called on investors to bring expertise that will help unlock efficiency and support long-term industry growth.

Customs, NIIA Advance Trade Reforms to Support Nigeria’s $1tn Economy Goal
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