Bauchi State Government has called for the resumption of oil and gas exploration at the Kolmani Integrated Development Project.
The state said reviving the project could attract investment, create jobs and increase government revenue.
RMAFC said it would submit findings from its inspection of the project to the Federal Government.
Main Story
The Bauchi State Government has called for the resumption of oil and gas exploration at the Kolmani Integrated Development Project, saying its revival could strengthen investment, employment and revenue generation in the state.
The Commissioner for Natural Resources, Muhammad Maiwada, made the call on Monday during a facility tour of the project by a team from the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC).
The delegation was led by the Chairman of RMAFC, Mohammed Shehu.
Oil exploration activities at the Kolmani site, located along the Bauchi-Gombe State border, were suspended following delays after the project was inaugurated in 2022 by former President Muhammadu Buhari.
Maiwada said the government was seeking the remobilisation of activities and the resumption of crude oil exploration at the site.
He said the development of the project could provide economic benefits through increased investment and employment opportunities while expanding Bauchi State’s revenue base.
The commissioner also said reviving the oil field could support economic diversification and contribute to sustainable development in the North-East.
He commended the Federal Government for programmes aimed at promoting the utilisation of Nigeria’s oil, gas and other natural resources.
The RMAFC chairman said the commission’s team would submit its findings from the visit to the Federal Government for further action.
Shehu described the Kolmani project as important to Nigeria’s revenue generation, fiscal interests and broader economic development.
He said the inspection enabled the commission to obtain first-hand information on the issues affecting the project.
The team also inspected facilities at the Bauchi Oil and Gas Academy in Alkaleri.
The Issues
The suspension of exploration activities at the Kolmani project has delayed the development of an oil and gas asset that Bauchi State believes could provide additional economic opportunities.
For the state government, resuming exploration could attract investment, create employment and strengthen internally generated revenue while supporting economic diversification in the North-East.
The project also has implications for Nigeria’s wider fiscal position because of its potential contribution to oil and gas production and government revenue.
What’s Being Said
“The call is imperative to remobilise and resume crude oil exploration activities at the site.”
— Muhammad Maiwada, Commissioner for Natural Resources, Bauchi State
“Reviving the Kolmani project would provide significant economic benefits to the state through investment and employment opportunities, as well as boost its revenue base.”
— Muhammad Maiwada, Commissioner for Natural Resources, Bauchi State
“The project is important in view of its contribution to revenue generation, fiscal interest and economic development of the country.”
— Mohammed Shehu, Chairman, RMAFC
What’s Next
RMAFC is expected to transmit its findings from the facility tour to the Federal Government for further action.
The next step will depend on decisions by the Federal Government and other stakeholders on the resumption and development of exploration activities at the Kolmani project.
Bottom Line
Bauchi State wants oil and gas exploration to resume at the Kolmani Integrated Development Project, which it sees as a potential source of investment, jobs and additional revenue. RMAFC’s inspection and subsequent report could inform the Federal Government’s next steps on the stalled project.
FCTA and UNICEF urged the six FCT area councils to take greater ownership of local food and nutrition programmes.
Officials said effective implementation at the grassroots is critical to reducing malnutrition and improving food security.
Aid Diversion Committees were inaugurated to promote transparency and accountability in the management of nutrition resources.
Main Story
The Federal Capital Territory Administration (FCTA) and UNICEF have urged the leadership of the six area councils in the FCT to take full ownership of local food and nutrition programmes to reduce malnutrition and strengthen food security.
The Mandate Secretary, Economic Planning, Revenue Generation and Public-Private Partnership Secretariat, Ubokutom Nyah, made the call at the Area Council Committee on Food and Nutrition’s second-quarter meeting and capacity-building programme in Abuja on Monday.
Nyah, who was represented by the acting Permanent Secretary of the secretariat, Uba Bala, described nutrition security as a key driver of human capital development and economic growth.
He acknowledged UNICEF’s financial and technical support but said the success of nutrition policies depended largely on effective implementation at the grassroots.
He urged area council leaders and nutrition focal officers to take ownership of local programmes, improve coordination among relevant sectors and ensure resources reached vulnerable communities.
The Director of Food and Nutrition Department in the secretariat, Princess Gaza-Oluwafemi, said the capacity-building programme was designed to strengthen participants’ understanding of nutrition and the local burden of malnutrition.
She said the training also covered priority nutrition interventions, the first 1,000 days of life, monitoring and evaluation, reporting, multisectoral coordination, the Child Nutrition Fund match mechanism and the development of localised work plans.
Gaza-Oluwafemi urged participants to apply the knowledge gained through the training in their respective area councils, stressing their role in delivering community-based health interventions.
The acting Executive Secretary of the FCT Primary Health Care Board, Dr Dan Gadzama, said area council committees were critical to addressing nutrition challenges among vulnerable groups, particularly pregnant women and young children.
He said local committees served as the link between policies developed at higher levels of government and their implementation in communities.
The representative of the UNICEF-US Department of State Maternal and Child Health Umbrella Grant, Dr Chizoba Steve-Edemba, also stressed the importance of local committees in implementing food and nutrition programmes.
The Issues
The FCT’s nutrition programmes face the challenge of translating policies and strategic plans into effective interventions at the community level.
The emphasis on area council ownership reflects the need for local authorities to coordinate programmes, monitor implementation and ensure resources reach vulnerable households.
The programme also highlights the importance of accountability in managing resources allocated to food and nutrition interventions.
What’s Being Said
“Nutrition security is a cornerstone of human capital development and economic growth.”
“While overarching strategic frameworks originate at the Secretariat level, their ultimate success depends entirely on the impact made in local wards, villages, and households.”
“Local committees are the essential bridge between policy design and tangible community benefit.”
— Dan Gadzama, Acting Executive Secretary, FCT Primary Health Care Board
What’s Next
The vice chairmen of the six area councils pledged to prioritise the implementation of nutrition policies within their jurisdictions.
Participants are expected to apply the skills gained from the capacity-building programme to improve monitoring, coordination, reporting and implementation of local nutrition interventions.
Aid Diversion Committees were also inaugurated in each of the six area councils to strengthen transparency and accountability in the management of resources.
Bottom Line
FCTA and UNICEF are pushing for stronger grassroots ownership of nutrition programmes across the FCT, with area councils expected to take greater responsibility for implementation. The newly inaugurated Aid Diversion Committees are also expected to strengthen accountability in the use of resources targeted at vulnerable communities.
Osun State Government has released N500 million from its Election Violence Victims Relief Endowment Fund.
Governor Ademola Adeleke inaugurated a committee to verify claims and identify genuine beneficiaries.
The committee is expected to administer relief transparently and recommend assistance to verified victims.
Main Story
Osun State Governor Ademola Adeleke has inaugurated a committee to address the plight of victims of election-related violence and released N500 million from the state’s Election Violence Victims Relief Endowment Fund.
Adeleke announced the initiative in a statement issued by his spokesperson, Olawale Rasheed, in Osogbo on Monday.
The fund is intended to support people who suffered losses, injuries, displacement and other forms of hardship as a result of election-related violence.
The committee, chaired by the Speaker of the Osun State House of Assembly, Adewale Egbedun, is expected to conduct a transparent verification process to establish genuine claims and ensure that relief reaches eligible victims.
The committee comprises representatives from the state government, civil society organisations, the Nigeria Police Force and the Department of State Services, among others.
Its members include Eniola Omotoso, Emmanuel Ologun, Balkiss Akinleye, Moshood Suleiman of the Ministry of Information, Moses Faremi of the Ministry of Justice and Yemi Lawal.
Sola Sonibare, Executive Secretary of the Osun Investment Promotion Agency, will serve as secretary, while nominees from the Nigeria Police Force and DSS are also expected to participate.
The Issues
The relief programme is aimed at addressing claims arising from election-related violence through a formal verification process.
The government faces the task of ensuring that only genuine victims receive assistance and that the N500 million fund is not diverted from its intended purpose.
The inclusion of civil society and security agencies on the committee is intended to support the verification process and strengthen accountability.
What’s Being Said
“The fund was set aside to verify and address claims by persons affected by election-related violence.”
— Ademola Adeleke, Osun State Governor
What’s Next
The committee is expected to receive petitions, claims and supporting evidence from affected persons and verify their eligibility.
It will then recommend appropriate relief for verified victims in line with guidelines approved by the state government.
The government has directed affected persons with genuine claims to provide accurate information and relevant evidence to support the verification process.
Bottom Line
The Osun State Government has released N500 million to support verified victims of election-related violence and established a committee to determine eligible beneficiaries. The effectiveness of the programme will depend on the transparency and credibility of the verification and disbursement process.
Market capitalisation fell by N137 billion to N154.396 trillion as the bearish trend continued.
The All-Share Index declined by 0.11 per cent to 239,085.17 points, while 32 stocks recorded losses against 18 gainers.
Trading volume and the number of deals increased, although the total value of transactions fell from Friday’s level.
Main Story
The Nigerian equities market extended its bearish trend on Monday as profit-taking in banking and insurance stocks pushed market capitalisation down by N137 billion.
Market capitalisation declined from N154.533 trillion at the previous close to N154.396 trillion.
The All-Share Index also fell by 265.99 points, representing a 0.11 per cent decline, to close at 239,085.17 from 239,351.16 recorded on Friday.
The decline reduced the market’s Year-to-Date return to 53.64 per cent, while market breadth remained negative, with 32 stocks recording losses compared with 18 gainers.
International Energy Insurance led the gainers, rising by 9.82 per cent to close at N3.49 per share.
Red Star Express followed with a 9.86 per cent gain to N16.15, while University Press advanced by 9.38 per cent to N5.25.
UPDC Real Estate Investment Trust gained 5.97 per cent to close at N3.55, while Haldane McCall rose by 3.90 per cent to N4.00. Sunu Assurances also gained 3.33 per cent to close at N3.10.
Neimeth International Pharmaceutical led the decliners, falling by 9.38 per cent to N7.25.
Fidelity Bank declined by 6 per cent to N18.80, while Guinea Insurance fell by 5.19 per cent to 73 kobo. NPF Microfinance Bank also declined by 4.82 per cent to N3.95.
The market recorded higher trading volume and more transactions than on Friday, although the total value of trades declined.
A total of 668.72 million shares valued at N23.83 billion were exchanged in 45,894 transactions, compared with 416.67 million shares worth N35.63 billion traded in 36,324 deals on Friday.
The Issues
The market’s decline was driven by selling pressure in banking and insurance stocks as investors took profits after previous gains.
Despite the increase in the volume of shares traded and the number of transactions, the lower value of trades indicates that the higher activity did not translate into stronger market value.
The negative market breadth, with significantly more decliners than gainers, also points to broad-based selling pressure during the session.
What’s Being Said
The source does not contain direct quotations from market analysts, investors or exchange officials. The reported market data show that profit-taking in banking and insurance stocks was the main factor behind Monday’s decline.
What’s Next
Investors will watch subsequent sessions to determine whether the selling pressure continues, particularly in banking and insurance stocks.
The market’s ability to recover will also depend on investor sentiment and the direction of trading in the stocks that contributed to Monday’s decline.
Bottom Line
The Nigerian equities market lost N137 billion on Monday as profit-taking weighed on banking and insurance stocks. Although trading volume and the number of deals increased, the market remained broadly negative, with 32 stocks declining against 18 gainers.
Federal Government plans to complete the Carter Bridge reconstruction within 24 months, ahead of the original 36-month schedule.
Works Minister Dave Umahi says the 1.58km bridge has suffered structural deterioration after decades of inadequate maintenance.
Reconstruction will include additional ramps, a cable-stayed section and measures to protect the bridge foundations from erosion and scouring.
Main Story
The Federal Government has set a 24-month target for completing the reconstruction of the Carter Bridge in Lagos, bringing forward the original 36-month completion schedule.
The Minister of Works, Dave Umahi, announced the revised timeline on Monday during an inspection of the Carter Bridge and Iddo Bridge projects in Lagos.
Umahi said the government was accelerating the Carter Bridge project because of the structure’s importance to traffic movement in the state.
The bridge, which stretches about 1.58km, has been in service for more than six decades. The minister said an underwater survey found significant deterioration in its foundations, including piles that had become detached from their pile caps.
He attributed the condition of the bridge to prolonged inadequate maintenance, rust, scouring and illegal sand mining.
He revealed that the Federal Government has completed a new design for the reconstruction, incorporating features intended to improve traffic movement and strengthen the structure.
The redesigned bridge would have additional ramps, while its two carriageways will be arranged at different levels. A cable-stayed section would also be incorporated to provide the clearance required for navigation.
The contractor, China Civil Engineering Construction Company (CCECC), has completed about 15 per cent of preliminary work, including establishing the project yard and constructing access roads.
Umahi said piling was expected to begin before the end of the week.
The government is also introducing protective measures, including gabions, around the bridge foundations to reduce the effects of erosion and scouring.
Carter Bridge will remain operational during the reconstruction because of its importance to Lagos traffic. Umahi said the existing structure would therefore be monitored and maintained while construction continues.
He said similar measures were being applied to the Third Mainland Bridge to extend its service life.
The minister expressed confidence that the reconstructed Carter Bridge could remain in service for more than 100 years because of the engineering features incorporated into the new design.
The Issues
The reconstruction comes after decades of use and structural deterioration on a bridge that remains important to movement within Lagos.
The government faces the challenge of carrying out major reconstruction without completely shutting the bridge, given the potential impact of a full closure on traffic across the city.
The project will also require continued protection of the bridge foundations from factors such as erosion and scouring that have contributed to structural damage.
What’s Being Said
“Carter Bridge has stayed for over 60 to 70 years with no maintenance.” — Dave Umahi, Minister of Works
“The lifespan of every bridge is about 50 years, and what we found out from the underwater survey is that a lot of the piles had detached from the pile caps.” — Dave Umahi, Minister of Works
“We are going to be flying one carriageway over the other, increasing the number of ramps to decongest traffic towards the ramp sections.” — Dave Umahi, Minister of Works
What’s Next
CCECC is expected to commence piling on the Carter Bridge project after completing its preliminary works and site preparations.
On the Iddo Bridge, Dare said the contractor had replaced three failed spans, numbered 13, 14 and 15. The completed section is expected to reopen to traffic after the concrete cures, after which work will move to the other section.
Drainage and Continuously Reinforced Concrete Pavement works on the Iddo Bridge project were reported to be about 90 per cent complete, with the intervention expected to be finished within two months.
Bottom Line
The Federal Government is bringing forward the Carter Bridge reconstruction timeline to 24 months while keeping the existing bridge open to traffic. The project will combine structural replacement with new ramps, a cable-stayed section and additional foundation protection, while parallel work continues on the Iddo Bridge.
Ukrainian President Volodymyr Zelensky speaks during a press conference at the Ukranian Embassy, in Ankara on May 15, 2025. (Photo by Adem ALTAN / AFP)
Key Points
Ukrainian President Volodymyr Zelenskyy says Kyiv wants peace but will not accept surrendering its territory.
Foreign leaders gathered in Kyiv for Ukraine’s 35th Independence Day celebrations.
Ukraine is seeking additional air defence systems and support for domestic production of long-range missiles.
Main Story
Ukrainian President Volodymyr Zelenskyy has said his country remains committed to finding a peaceful resolution to the war with Russia but will not accept an agreement that requires it to surrender territory.
Zelenskyy made the statement on Monday as foreign leaders travelled to Kyiv for celebrations marking the 35th anniversary of Ukraine’s independence from the Soviet Union.
Among those attending were British Prime Minister Andy Burnham and European Council President Antonio Costa.
Burnham, on his first visit to Kyiv as prime minister, was expected to announce British support for Ukraine’s efforts to expand domestic production of long-range missiles.
He was also due to co-chair a virtual meeting of the Coalition of the Willing with French President Emmanuel Macron and German Chancellor Friedrich Merz.
The meeting was expected to focus on Ukraine’s request for additional air defence systems to protect its cities from Russian ballistic missile attacks.
Zelenskyy, wearing a traditional embroidered Ukrainian shirt, thanked the foreign leaders who travelled to Kyiv and reiterated his determination to find a way to end what he described as Russian President Vladimir Putin’s “ballistic terror”.
The Ukrainian president said Russia’s demand that Kyiv surrender the remaining part of the eastern Donbas region not under Russian control would not resolve the conflict or prevent further aggression.
He said Ukraine would not give up territory it considers its own.
What’s Being Said
“Ukraine absolutely wants peace, but it is not ready to simply surrender.” — Volodymyr Zelenskyy, President of Ukraine
“Ukraine is different, and it does not give away what is its own.” — Volodymyr Zelenskyy, President of Ukraine
“Ballistic terror” — Volodymyr Zelenskyy, referring to Russia’s attacks on Ukraine
The Issues
The central dispute remains the terms of any potential settlement between Ukraine and Russia, particularly over territory controlled by Russia and areas Kyiv is being asked to cede.
Zelenskyy’s position indicates that while Ukraine is seeking an end to the war, it does not regard territorial concessions as an acceptable price for peace.
Ukraine is also seeking greater military support from its allies, particularly additional air defence capabilities and assistance with expanding its ability to produce long-range weapons domestically.
What’s Next
The Coalition of the Willing was expected to discuss Ukraine’s request for additional air defence systems and other forms of support.
British support for Ukraine’s domestic long-range missile production was also expected to form part of Burnham’s visit to Kyiv.
Bottom Line
Ukraine is signalling that it remains open to peace efforts but will not accept an agreement that requires it to surrender territory. At the same time, Kyiv continues to seek military and diplomatic support from its European partners as the war continues.
NiMet forecasts cloudy conditions and thunderstorms across northern, North-Central and southern parts of Nigeria from Monday to Wednesday.
Moderate rainfall is expected in several states, with some areas likely to experience morning and afternoon or evening thunderstorms.
The agency warns of strong winds and advises residents to take precautions during heavy rain and thunderstorms.
Main Story
The Nigerian Meteorological Agency (NiMet) has forecast cloudy conditions, thunderstorms and varying degrees of rainfall across Nigeria from Monday to Wednesday.
In its weather outlook released in Abuja, the agency said weather conditions would differ across the northern, North-Central and southern regions during the three-day period.
For Monday, NiMet forecast patches of cloud over the northern region during the morning, followed by thunderstorms and moderate rain later in the day.
In the North-Central region, cloudy conditions were expected in the morning, with isolated thunderstorms and moderate rain forecast for parts of the Federal Capital Territory, Nasarawa, Benue, Kogi, Niger and Plateau states later in the day.
The southern region was also expected to experience cloudy conditions, with light rain possible in parts of Ebonyi, Enugu, Cross River and Akwa Ibom states during the morning. More widespread moderate rain was expected later in the day.
On Tuesday, the agency forecast patches of cloud over the northern region, with morning thunderstorms and light rain possible in parts of Borno, Gombe, Bauchi, Yobe, Taraba and Adamawa states. Thunderstorms with moderate rain were expected across most parts of the region later in the day.
The North-Central region was expected to remain cloudy, with morning thunderstorms and light rain in parts of Benue, Kogi, Plateau and Nasarawa states. NiMet forecast isolated thunderstorms with moderate rain across the region later in the day.
In the south, cloudy conditions and light rain were expected in parts of Ebonyi, Cross River, Rivers and Akwa Ibom states during the morning.
The agency forecast afternoon or evening thunderstorms with moderate rain across parts of Ekiti, Osun, Ogun, Ondo, Oyo, Edo, Enugu, Abia, Ebonyi, Imo, Anambra, Lagos, Delta, Bayelsa, Cross River, Akwa Ibom and Rivers states.
For Wednesday, NiMet forecast morning thunderstorms accompanied by moderate rain in parts of Taraba, Borno, Adamawa, Bauchi and Gombe states.
Most parts of the northern region were expected to experience thunderstorms with moderate rain later in the day.
In the North-Central region, cloudy skies were forecast, with morning thunderstorms and light rain possible in parts of Nasarawa and Plateau states. Moderate rain was expected across most of the region during the afternoon and evening.
The southern region was expected to remain cloudy, with intermittent light rain possible over parts of the South-East and coastal areas during the morning. NiMet forecast intermittent moderate rain across the region later in the day.
The Issues
NiMet’s forecast indicates that rainfall and thunderstorms will affect different parts of the country at different times during the three-day period.
The agency also warned that strong winds could precede thunderstorms, creating risks from unsecured objects, falling branches and damaged trees.
What’s Being Said
NiMet advised residents to secure loose objects and exercise caution during thunderstorms.
It urged motorists to avoid driving during heavy rainfall and advised residents to disconnect electrical appliances from power sockets during severe weather.
The agency also warned people to keep away from tall trees because of the risk of falling branches and broken trees.
What’s Next
NiMet advised airline operators to obtain airport-specific weather reports and flight documentation from the agency to support operational planning.
Residents were also encouraged to monitor NiMet’s weather updates and follow safety guidance as rainfall and thunderstorms occur across different parts of the country.
Bottom Line
NiMet’s three-day forecast points to widespread thunderstorms and rainfall, with conditions varying by region and time of day. Residents, motorists and aviation operators are advised to use updated weather information and take appropriate precautions.
Federal Government commissions new transmission projects at Apapa, Ijora, Lekki and Alausa.
The projects add 840MVA of transformer capacity to the Lagos transmission network.
TCN says the upgrades will increase bulk power available to EKEDC and IKEDC and improve grid stability.
Main Story
The Federal Government has commissioned transmission projects across four major substations in Lagos, adding 840MVA of transformer capacity to the transmission network.
The projects, inaugurated on Aug. 17 and 18 by the Minister of Power, Joseph Tegbe, cover the Apapa, Ijora, Lekki and Alausa transmission substations.
The interventions are expected to increase the amount of bulk electricity that can be transmitted to the Eko Electricity Distribution Company (EKEDC) and Ikeja Electricity Distribution Company (IKEDC) for onward distribution to businesses, industries and households.
The projects include a 2x60MVA Gas Insulated Substation (GIS) at Apapa, two 100MVA transformers at Ijora, a 100MVA transformer at Alausa and three transformers at the Lekki Transmission Substation.
The Lekki project comprises a 300MVA, 330/132/33kV transformer and two 60MVA, 132/33kV transformers.
At the Lekki substation, the 330/132kV transformer capacity increased from 300MVA to 600MVA, while capacity at the 132/33kV level rose from 120MVA to 240MVA.
The upgrade will also provide nine new 33kV feeders for bulk power delivery into the EKEDC network.
Tegbe said the investment was aimed at ensuring that electricity infrastructure kept pace with the rapid residential, commercial and industrial development of the Lekki corridor.
He said the additional infrastructure would strengthen the reliability and availability of bulk electricity supplied to EKEDC for distribution across Lekki and neighbouring areas.
At Alausa, a new 100MVA, 132/33kV transformer raised the substation’s transformation capacity from 135MVA to 205MVA, equivalent to about 164MW.
The project also increased the bulk power available to IKEDC by 80MW for distribution to consumers within its franchise area.
Tegbe said strengthening the Alausa substation was important because of Ikeja’s concentration of businesses, government institutions, markets and other economic activities.
At Ijora, the upgrade increased the substation’s capacity from 90MVA to 230MVA, equivalent to about 184MW.
The minister said the additional capacity would improve electricity supply to Ijora, Costain, Oyingbo, Customs and surrounding communities.
The Apapa project involves a 2x60MVA GIS substation and is also expected to increase the volume of bulk power available to EKEDC.
The project was delivered by the Japan International Cooperation Agency (JICA) under its Official Development Assistance programme.
The Managing Director of the Transmission Company of Nigeria (TCN), Sule Abdulaziz, said the projects would strengthen transmission capacity and help reduce technical losses across the Lagos network.
He said the additional capacity would enable TCN to wheel more electricity to distribution load centres, supporting improved grid stability.
Abdulaziz said the 840MVA now in service would provide additional bulk power for EKEDC and IKEDC to distribute to industries, businesses and households.
The projects therefore represent an expansion of transmission infrastructure in some of Lagos’ most economically active areas, although the additional transformer capacity does not itself represent 840MW of new electricity generation.
The extent to which the investments improve electricity supply to consumers will also depend on available generation and the capacity of the distribution networks to take and deliver the additional power.
The Issues
Lagos has significant electricity demand from industrial, commercial and residential users, making transmission constraints a major factor in how much available generation can reach distribution networks.
The new substations and transformers are intended to address some of those constraints by increasing the capacity to move bulk electricity towards major load centres.
For businesses, improved transmission capacity could support more reliable electricity supply and reduce some of the pressure that forces commercial and industrial users to rely heavily on alternative power sources.
What’s Being Said
“They represent targeted investments in capacity for businesses to grow, for industries to produce, and for communities to prosper.” — Joseph Tegbe, Minister of Power
“Transformer capacity at the 330/132kV level has increased from 300MVA to 600MVA, equivalent to approximately 480 Megawatts (MW), while capacity at the 132/33kV level has risen from 120MVA to 240MVA, equivalent to approximately 192MW.” — Joseph Tegbe, Minister of Power
“TCN can wheel to distribution load centres, thereby improving grid stability.” — Sule Abdulaziz, Managing Director, TCN
What’s Next
TCN is expected to put the additional transmission capacity to use by supplying more bulk electricity to EKEDC and IKEDC for distribution within their networks.
The effectiveness of the projects will ultimately depend on the availability of generation and the ability of the distribution companies to deliver the additional electricity to end users.
Bottom Line
The commissioning of the Apapa, Ijora, Lekki and Alausa projects expands Lagos’ transmission capacity at strategic economic and residential centres. The 840MVA investment gives TCN greater capacity to move bulk electricity into the distribution network, but its impact on consumers will depend on generation and distribution capacity as well.
Veteran Nollywood actor Taiwo Hassan, popularly known as Ogogo, died at 66 after battling stage-four cancer.
His career spanned more than four decades and included over 100 film productions.
Ogogo rose from working as a Lagos mechanic to becoming one of the most recognisable figures in Yoruba cinema.
His career extended beyond acting into writing and film production.
His breakthrough came with Owo Blow in 1995, which earned him the Best Actor of the Year award at the 1997 THEMA Awards.
Other notable films in his career include Agbelebu, Danfo Driver, Ekun-Ayo, Okan Soso, Omin, Elewon and Omo Ghetto.
His role as Alaafin Ademuyiwa in Aníkúlápó introduced him to a wider international audience.
He reprised the role in Aníkúlápó: Rise of the Spectre in 2024, one of his final major productions.
His career reflects the evolution of Yoruba cinema from the home-video era to modern streaming productions.
Ogogo leaves behind a lasting legacy in Nigerian and African cinema.
Main Story
Veteran Nollywood actor Taiwo Hassan, popularly known as Ogogo, died on Sunday, August 23, 2026, at the age of 66 after a prolonged battle with stage-four cancer, bringing to an end a career that spanned more than four decades and produced over 100 films. His family confirmed the news in a statement shared on social media, announcing his burial in accordance with Islamic rites at the Pavilion in Ilaro, Ogun State, on Monday, August 24.
Born on October 31, 1959, in Ilaro, Ogun State, Hassan came to acting not through formal training but through sheer determination. He completed primary education at Christ Church School in Ilaro, attended Gazikia College in Lagos for secondary education — though financial difficulties prevented him from finishing — and later studied at a technical college before spending roughly 13 years working as an automobile mechanic at a water corporation. He began his acting career in 1981, and within a little over a decade had become one of the most recognisable faces in Yoruba cinema.
His death came only days after his daughters, Kira and Lima Taiwo, had made an emotional public appeal on Instagram, revealing that doctors had told the family they could no longer administer chemotherapy. The disclosure prompted a wave of donations and support from politicians, colleagues, and fans, but the interventions were not enough to reverse his condition.
From those who knew him on set to those who grew up watching him on screen, the tributes that followed his death were a testament to both the scale of his influence and the depth of his character. As his body was laid to rest in his hometown — in the presence of Jide Kosoko, Dele Odule, Yinka Quadri, Mr Latin, Olaiya Igwe, Femi Adebayo, and Ireti Osayemi, among others — an industry paused to reflect on what his career had meant.
From his 1995 breakthrough in Owo Blow to his role in the 2024 Netflix sequel Aníkúlápó: Rise of the Spectre, here are the 10 films that defined the legendary journey of Taiwo Hassan Ogogo.
The Films
1. Owo Blow (1995)
If there is a single film that turned Taiwo Hassan into a household name, it is Owo Blow. Directed by Tade Ogidan, the film cast him as Wole Owolabi in a story that explored corruption and societal vices with unflinching urgency. The performance was a revelation — demonstrating not merely that Ogogo could act, but that he could carry a film of serious moral weight on his shoulders. The industry agreed. At the 1997 THEMA Awards, he was named Best Actor of the Year for the role, a recognition that cemented his status almost overnight and announced the arrival of a talent the Yoruba film industry would not soon forget.
2. Agbelebu (1995)
Released the same year as Owo Blow, Agbelebu was part of the remarkable run of films that defined the earliest, most romantic phase of Ogogo’s career. At this moment, he was regarded as one of Yoruba cinema’s most charismatic leading men — a screen presence that combined physical intensity with emotional depth. Agbelebu belongs to that first wave of films in which audiences discovered what Ogogo could do and found themselves unable to look away.
3. Danfo Driver (1995)
In Danfo Driver, Ogogo stepped into the role of a street-smart Lagos bus driver and made it entirely his own. The film blended comedy with sharp, precise characterisation in a way that revealed an important dimension of his ability — he was not simply a dramatic actor, he was a performer who understood texture and timing. The role demonstrated that Ogogo could be funny without being cheap, and human without being sentimental. It became one of his early trademarks, and the character left an impression that lingered long after the film ended.
4. Ekun-Ayo (1996)
Ekun-Ayo was not simply another film on Ogogo’s growing résumé — it was an early declaration of creative ambition. Beyond acting, he wrote and produced the film, marking the beginning of his multi-hyphenate career as a director, screenwriter and producer. At a time when many actors were content to perform, Ogogo was already thinking about the industry as a whole and about the kind of stories he wanted to tell and shape. Ekun-Ayo is the clearest early evidence that his influence was always going to extend beyond the screen.
5. Okan Soso (2004)
Nearly a decade into a career that showed no signs of slowing, Ogogo delivered Okan Soso, a Yoruba classic co-starring Bukky Wright, Kola Oyewo, and Yemi Solade. The film remains one of the titles fans most frequently revisit when celebrating his body of work. By this point in his career, he had evolved from the charismatic romantic lead of his early years into something more complex — an actor whose presence carried history as well as drama, and whose performances had developed the kind of layered authority that only experience can produce.
6. Omin (2008)
Playing Adesina in Omin, Ogogo continued a gradual but unmistakable career shift. The romantic leads and street-level characters of the 1990s were giving way to more authoritative, father-figure roles — the kind of parts that require not just performance but presence. Omin is a landmark in that transition, a film in which his maturity as an actor was as visible as his talent. It reflected an industry that had grown alongside him, and a filmmaker who understood exactly what Ogogo had become.
7. Elewon (2009)
In Elewon, Ogogo starred as Yomi and also helped produce the film — a pairing that had by this point become characteristic of how he operated. The role and the production credit together tell the same story: this was an actor who had long since moved beyond simply showing up on set. He was shaping the material, investing in the process, and ensuring that the work he was associated with reflected not just what he could do in front of a camera but what he believed cinema should be. Elewon is one of several titles from this period that mark the full maturity of that vision.
8. Omo Ghetto (2010)
Omo Ghetto, directed by Funke Akindele, gave Ogogo a different kind of visibility. Playing the D.P.O., he appeared in a contemporary Nollywood production that introduced him to a newer, more mainstream audience far beyond his traditional Yoruba-language fan base. It was a reminder that great performance is not confined by genre or language — that audiences who had never seen Owo Blow or Okan Soso could encounter Ogogo here and understand immediately why he mattered. The film expanded his reach without diluting what made him distinctive.
9. Aníkúlápó (2022)
Kunle Afolayan’s Netflix epic Aníkúlápó was many things at once: a major artistic statement, a commercial triumph, and a global introduction to Yoruba cinema for audiences who had never engaged with it before. Ogogo’s role as Alaafin Ademuyiwa placed him at the centre of that achievement, acting alongside Kunle Remi, Bimbo Ademoye, and Sola Sobowale in a film that received 16 nominations at the 2023 Africa Magic Viewers Choice Awards. His performance earned him a Best Supporting Actor nomination — not a consolation recognition, but a genuinely competitive one that reflected how fully he inhabited the role. For a new generation watching on Netflix, Aníkúlápó was the film that made them go looking for everything else he had ever done.
10. Aníkúlápó: Rise of the Spectre (2024)
Ogogo reprised his role as Alaafin Ademuyiwa in the sequel series, and in doing so marked one of the final major chapters of a career that had by then spanned more than 40 years. There is something fitting about the fact that his last significant role came not in a twilight performance but in a continuation — in a story that had not yet finished, much like the impact of the man himself. Rise of the Spectre was not a valediction. It was simply another chapter, and the fact that there would be no chapter after it is, perhaps, the most honest measure of what has been lost.
The Issues
Ogogo’s career reflects the evolution of Yoruba cinema from the traditional home-video era to contemporary theatrical and streaming productions, His early roles established him among the leading actors of the 1990s, while his later performances demonstrated his ability to transition into mature and character-driven roles.
His career also illustrates the increasingly broad responsibilities undertaken by Nigerian filmmakers, with Ogogo developing experience in acting, writing and producing, For an actor whose career began decades before streaming platforms became a major force in African entertainment, his appearance in Aníkúlápó represented a significant bridge between different generations of Nigerian cinema.
What’s Being Said
Tributes following Ogogo’s death have focused on his longevity, talent and contribution to Yoruba-language cinema, Colleagues and fans have continued to remember him not only for individual performances but also for his broader contribution to an industry that has produced generations of Nigerian actors, filmmakers and producers, His extensive body of work means that audiences can continue to encounter his performances through older Yoruba productions as well as newer titles available through digital and streaming platforms.
What’s Next
Following his death, attention is likely to shift towards preserving and celebrating Ogogo’s extensive film legacy, His more than four decades in the industry produced a body of work spanning several generations of Nigerian filmmaking, As older Yoruba productions continue to circulate through digital platforms and streaming services, younger audiences will have opportunities to discover the performances that established Ogogo as a major figure in Nigerian cinema, His career will also continue to form part of the broader history of veteran actors who helped build the foundations of modern Nollywood.
Bottom Line
Taiwo Hassan’s career was defined by longevity, versatility and an ability to remain relevant as Nigerian cinema changed, From Owo Blow and Danfo Driver in the 1990s to Aníkúlápó and Aníkúlápó: Rise of the Spectre in the streaming era, Ogogo successfully navigated different generations of Nigerian filmmaking.
His journey from a Lagos mechanic to one of Yoruba cinema’s most recognisable actors is part of the larger story of Nollywood itself, The films he left behind will continue to preserve the legacy of a performer who spent more than four decades entertaining Nigerian audiences.
Nollywood actress and filmmaker Funke Akindele marks her 49th birthday with a message of gratitude to God.
Fans, colleagues and well-wishers celebrate the actress and pray for continued success, good health and longevity.
Akindele, known for the Jenifa franchise, has built a career spanning acting, filmmaking, production and talent development.
Main Story
Nollywood actress and filmmaker Funke Akindele celebrated her 49th birthday on Monday, receiving messages from fans, colleagues and other well-wishers across the entertainment industry.
Akindele, who is widely known for her role as Jenifa, marked the occasion with a post on her verified Instagram account, @funkejenifaakindele.
In the message, the actress expressed gratitude to God for His guidance and protection throughout her career and personal journey.
She also prayed for good health, long life, peace and the grace to continue fulfilling her purpose.
Akindele said she hoped her life would continue to have an impact beyond her personal achievements by creating opportunities for others, developing talents and supporting people in pursuing their aspirations.
She also pledged to continue growing and giving back while remaining an inspiration to others.
Her birthday message attracted numerous congratulatory messages and prayers from fans, friends and colleagues.
Among those who celebrated her were entertainment personalities including KieKie, Omotea, Diiadem, Dele Momodu, Hilda Baci and Ariyike.
The messages praised Akindele’s character, career achievements and influence, with several wishing her good health, longevity and greater success.
The Issues
Akindele’s birthday comes after a career spanning acting, filmmaking and production, with the Jenifa character becoming one of the defining roles of her career.
She gained prominence after playing Bisi in the television series I Need to Know before the 2008 film Jenifa brought her widespread recognition.
The success of the film led to further projects, including The Return of Jenifa and Jenifa’s Diary.
What’s Being Said
In her birthday message, Akindele thanked God for what she described as His continued work in her life and prayed for the opportunity to positively influence more people.
Her colleagues and fans responded with birthday wishes, prayers and messages celebrating her achievements and contribution to Nollywood.
What’s Next
Akindele’s latest project, The Four: No One Fights Alone, is scheduled for global cinema release on Dec. 11.
The film features an ensemble cast including Bisola Aiyeola, Chioma Akpotha, Richard Mofe-Damijo, Timini Egbuson, Lateef Adedimeji and Waje.
Bottom Line
Funke Akindele’s 49th birthday has prompted widespread celebration of a Nollywood career built around acting, filmmaking and production, while the actress used the occasion to express gratitude and reaffirm her commitment to purpose, growth and giving back.
The UK government briefed energy company chiefs on measures to protect critical assets following reports of a cyber-attack on a small generator.
The generator was reportedly taken offline for four days, but officials said the incident did not threaten the wider electricity grid or cause power outages.
The government and industry are working with regulators and the National Cyber Security Centre to assess the threat and strengthen protections.
Main Story
The UK government has briefed energy industry leaders on measures to strengthen the protection of their assets following reports that hackers linked to Iran disrupted a small electricity generator.
The reports, published by The Telegraph and Financial Times, said the cyber-attack occurred in July and resulted in the generator being taken offline for four days.
The publications attributed the attack to hackers linked to Iran, although the material provided does not state that the attribution has been independently confirmed by the UK government.
Energy Minister Michael Shanks said the government and energy companies were taking the incident seriously and working with regulators and the National Cyber Security Centre to assess potential threats and improve safeguards.
Shanks stressed that the incident did not affect the wider electricity network.
“There was no threat to the wider grid, and nobody lost power,” he said.
He also described the affected generator as very small compared with facilities that would normally be regarded as power stations.
“The generator in question is tiny, especially compared to what most of us would class as a ‘power plant/station’,” he said.
A spokesperson for the UK’s energy department also said there was no threat to the wider electricity system, describing the country’s energy network as highly resilient.
The Issues
The reported incident has drawn attention to the vulnerability of energy infrastructure to cyber-attacks, even where an individual facility is small and an incident does not affect the wider electricity network.
The government’s response is focused on assessing potential threats and strengthening safeguards across the energy industry rather than addressing a disruption to national electricity supplies.
What’s Being Said
Shanks said the government and industry were working with regulators and the National Cyber Security Centre to assess threats and strengthen protections.
The energy department said there was no risk to the wider electricity system and described Britain’s energy network as highly resilient.
What’s Next
The UK government, energy companies, regulators and the National Cyber Security Centre are expected to continue assessing the reported incident and potential cyber threats to energy assets.
The Iranian Embassy in London had not responded to a request for comment at the time of reporting.
Bottom Line
A reported cyber-attack on a small British generator has prompted the UK government to strengthen engagement with energy companies, although officials say the incident did not threaten the wider electricity grid or cause power outages.
Former Big Brother Naija housemate Sheggz has threatened legal action against his former partner, Bella Okagbue.
His lawyers issued a letter demanding a retraction and apology over alleged defamatory statements.
The letter alleges that Bella accused Sheggz of abuse, owing her ₦11 million, and making disparaging remarks about her and her family.
Sheggz’s legal representatives also accused Bella of cyberbullying and threatening to cause him mental distress through social media.
The lawyers demanded that Bella remove the alleged defamatory statements from all platforms.
The dispute follows the public breakdown of the former reality-TV couple’s relationship.
Bella previously said she walked away after giving the relationship several chances, while Sheggz said the relationship ended in January 2026.
Main Story
The public fallout between former Big Brother Naija housemates Segun Olusemo, popularly known as Sheggz, and Bella Okagbue has escalated, with Sheggz threatening legal action over alleged defamatory statements concerning their failed relationship, Sheggz has instructed his legal representatives to issue a letter to Bella demanding a retraction and public apology over statements he claims have damaged his reputation.
The letter, dated August 21, 2026, was addressed to Chiddima Esther Okagbue, popularly known as Bella, According to the letter, Sheggz’s lawyers accused Bella of making allegedly defamatory claims, including allegations that he was abusive towards her and owed her ₦11 million, The lawyers also alleged that Bella made disparaging comments about Sheggz and his family.
The legal representatives further accused Bella of cyberbullying their client and allegedly threatening to use social media to cause him mental distress and damage his reputation among friends, business associates and members of the public, Sheggz’s lawyers demanded that Bella immediately stop making the alleged defamatory statements, remove the disputed content from social media and other platforms, and issue a public retraction and apology, The development represents another escalation in the highly publicised fallout between the former romantic partners.
The Issues
The dispute centres on allegations and counter-allegations that emerged following the collapse of the couple’s relationship, Claims involving domestic violence, an alleged ₦11 million debt and emotional manipulation have circulated widely online, with social media users debating the circumstances surrounding their separation.
Screenshots allegedly showing conversations in which Sheggz asked Bella to lend him money also circulated online, However, the legal letter from Sheggz’s representatives challenges the allegations and places the dispute on a legal footing, The situation also highlights the potential legal and reputational consequences of public allegations made through social media, particularly when they involve prominent personalities with commercial and public-facing careers, At this stage, the allegations remain disputed between the former couple.
What’s Being Said
Bella previously broke her silence on the relationship, saying her desire to marry Sheggz was based on genuine love rather than desperation, She said she eventually decided to leave after giving the relationship multiple opportunities that failed to produce the outcome she wanted.
Sheggz, meanwhile, said the relationship ended in January 2026 after what he described as a difficult period in their relationship, He said he had invested significant effort into the relationship because he believed they had a future together, The former reality star also revealed that he had purchased a ring with plans to propose to Bella before their relationship ended, The conflicting accounts have continued to fuel discussions among fans of the former couple.
What’s Next
The immediate next step will depend on Bella’s response to the legal demand issued by Sheggz’s representatives, She could comply with the demands, dispute the allegations contained in the letter or face further legal proceedings if the dispute escalates, The controversy is also likely to remain a major subject of discussion among Big Brother Naija fans, particularly given the couple’s popularity following their time on the reality television show, If legal proceedings eventually begin, the allegations surrounding the alleged debt, abuse and other disputed claims could become subject to formal legal scrutiny rather than remaining solely a social media dispute.
Bottom Line
The breakup between Sheggz and Bella has moved beyond social media controversy, with Sheggz’s lawyers now demanding a retraction and apology over alleged defamatory statements, The ₦11 million debt allegation, alongside claims of abuse and cyberbullying, has become a central part of the dispute, For now, the allegations remain contested, and the next significant development will be Bella’s response to the legal demand and whether the matter progresses to court.
Information Minister Mohammed Idris has rejected calls to restore petrol subsidy.
He argued that restoring the subsidy would weaken Nigeria’s fiscal position and reverse economic gains.
Subsidy removal mobilised N15.8 trillion in resources for the Federation between June 2023 and December 2025.
The Federal Government received about N5.43 trillion, states N6.52 trillion and local governments N3.88 trillion.
The government recorded N6.47 trillion in additional strategic infrastructure expenditure during the period.
Idris said more than N400 billion was committed to major social investment programmes.
He questioned whether Nigeria should restore petrol subsidy at the expense of student loans, infrastructure, healthcare and social protection.
Nigeria also carried an estimated N3.14 trillion electricity subsidy between June 2023 and December 2025.
Main Story
The Minister of Information and National Orientation, Mohammed Idris, has challenged critics calling for the restoration of petrol subsidy to consider the competing demands on government finances, Idris said restoring the subsidy would undermine Nigeria’s improving fiscal position, weaken investor confidence and reverse some of the economic gains recorded since the policy was removed.
The minister made the remarks in an opinion article titled “Restoring Fuel Subsidy Will Reverse Nigeria’s Economic Gains,” published in some national newspapers on Monday, According to Idris, returning to the previous subsidy regime could recreate the fiscal pressures, market distortions, fuel scarcity and arbitrage opportunities that made the system unsustainable.
He argued that the debate should consider what government would have to sacrifice to finance a renewed petrol subsidy, “Do we restore petrol subsidy, or sustain student loans and consumer credit for young Nigerians?” Idris asked, while also questioning whether subsidy should take priority over allocations to states and local governments, infrastructure, security, healthcare and education, The minister cited figures from the Federal Government’s Nigeria’s Reform Scorecard: The Benefits, Costs and Harms Prevented, which stated that subsidy savings mobilised N15.8 trillion in resources for the Federation between June 2023 and December 2025.
Of that amount, approximately N5.43 trillion accrued to the Federal Government, N6.52 trillion to states and N3.88 trillion to local governments, Idris clarified that the N15.8 trillion was not a separate pool of money but represented resources released within the Federation’s wider fiscal system following the reform.
The Issues
The central issue is the tension between fiscal sustainability and the rising cost of living following petrol subsidy removal, While the government argues that subsidy removal has released resources for infrastructure and public services, households and businesses have faced higher transportation and operating costs since the policy change.
Idris maintained that restoring subsidy would create another major fiscal obligation at a time when the government is already dealing with significant expenditure pressures, He noted that Nigeria carried an estimated N3.14 trillion electricity subsidy between June 2023 and December 2025.
Adding petrol subsidy to the existing electricity subsidy burden, he argued, could further constrain government finances and reduce the resources available for other priorities, The minister also pointed to the allocation of additional resources towards infrastructure and social programmes as evidence of what the reform has enabled.
What’s Being Said
Idris said the N15.8 trillion in resources mobilised through subsidy savings had strengthened the ability of the three tiers of government to meet salary and pension obligations and fund essential services, He said the Reform Scorecard recorded approximately N6.47 trillion in additional expenditure on strategic infrastructure.
More than N400 billion was also committed to major social investment initiatives, including the Nigeria Education Loan Fund (NELFUND), MOFI Real Estate Investment Fund (MREIF) and the Nigerian Consumer Credit Corporation (CREDICORP), The minister added that social transfers had reached more than 10 million Nigerian households.
He also said the organised private sector and wider economic community had cautioned against reversing the subsidy reform, According to Idris, Nigeria should focus on building a more productive economy rather than returning to what he described as an unsustainable subsidy model.
What’s Next
The Federal Government is expected to continue defending petrol subsidy removal while focusing on how the resources released through the reform are deployed, The key test will be whether those resources produce measurable improvements in infrastructure, education, healthcare, social protection, employment and economic productivity.
At the same time, continued pressure over petrol prices and the cost of living could keep calls for intervention alive, The government will therefore have to demonstrate that the fiscal benefits of subsidy removal are translating into tangible improvements in citizens’ welfare.
Bottom Line
Mohammed Idris’ argument is that Nigeria cannot sustainably restore petrol subsidy without sacrificing other priorities, With N15.8 trillion in resources reportedly mobilised between June 2023 and December 2025, the government believes subsidy removal has created additional fiscal space for infrastructure, social programmes and other public expenditure.
However, the success of the policy will ultimately depend on whether Nigerians can see meaningful benefits from that fiscal space, The debate is therefore no longer simply about subsidy versus no subsidy, but about whether the resources saved by removing petrol subsidy are being converted into better public services, stronger infrastructure and improved economic opportunities.
Nigeria’s money market fund segment reached a net asset value of N6.27 trillion as of July 31, 2026, a 4.96% increase from N5.97 trillion in June
The segment now serves 846,933 unitholders across 48 funds, the largest single-month unitholder growth in recent months
DLM Money Market Fund topped the July rankings with a year-to-date yield of 20.69%, rising four places from fifth position in June
Two funds — Alpha10 and Myrtle Nest — entered the top 10 for the first time in July, reflecting the segment’s increasingly competitive landscape
MAIN STORY
Nigeria’s money market fund industry closed July 2026 at its highest net asset value on record, with the segment expanding to N6.27 trillion — accounting for 66.74% of the country’s total mutual fund assets. The figure, drawn from data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC), represents a 4.96% month-on-month increase from the N5.97 trillion recorded in June and reflects a sustained appetite for short-term, high-quality investment instruments among Nigerian retail and institutional investors.
The segment now hosts 48 funds following the entry of Radix Money Market Fund as a new participant and serves 846,933 unitholders — a monthly addition of 46,883 investors, or a 5.86% increase from June. That figure represents the largest single-month unitholder growth recorded in recent months, reinforcing the category’s role as a primary gateway into Nigeria’s capital market.
Despite the impressive aggregate size, the top 10 performing funds by year-to-date yield collectively manage N215.82 billion — just 3.44% of total money market fund assets — highlighting how performance leadership and asset scale do not always coincide in this segment. Returns among these top performers range from 18.36% to 20.69% for the year so far.
The DLM Money Market Fund, managed by DLM Asset Management Limited, leads the July ranking with a YTD yield of 20.69%, rising four places from fifth in June in what amounts to the joint-largest upward move among the top 10 this month. An investor who committed N5 million to DLM at the start of the year would have earned approximately N1,034,500 in returns by July 31, bringing the portfolio total to N6,034,500.
THE ISSUES
A rate environment that keeps giving
The money market fund sector’s continued expansion does not exist in a vacuum. It is being propelled by a monetary policy environment that has kept short-term yields elevated well above savings account rates. The Central Bank of Nigeria’s Monetary Policy Committee, at its 306th meeting held on July 20 and 21, 2026, retained the Monetary Policy Rate at 26.5%, its third consecutive hold following a 50-basis-point cut in February from 27%. CBN Governor Olayemi Cardoso cited heightened global uncertainties — specifically the renewed conflict in the Middle East and its potential pass-through to domestic inflation — as the primary rationale for maintaining a cautious policy stance.
With the MPR at 26.5%, the underlying instruments in which money market funds invest — treasury bills, commercial papers, bank placements, and bankers’ acceptances — continue to reprice at competitive rates. This translates directly into the double-digit yields that fund managers are passing on to unitholders.
The size-versus-performance paradox
One of the clearest structural patterns in the July data is the inverse relationship between fund size and yield leadership. The DLM Money Market Fund, which leads the ranking, manages just N2.07 billion in assets — a fraction of the Coronation Money Market Fund’s N98.55 billion. Similarly, the Myrtle Nest Money Market Fund, which entered the top 10 in July with a 19.09% yield, manages only N652.39 million. Smaller, more agile funds appear able to concentrate their portfolios in higher-yielding instruments without the constraints that come with deploying larger pools of capital. This creates a bifurcated market where investors choosing for maximum yield and those choosing for scale and stability are making distinctly different trade-offs.
The crowdfunding effect
One structural feature that continues to drive unitholder growth is the democratisation of access. Money market funds effectively function as a pooling mechanism, allowing investors with as little as N1,000 to participate in treasury bill auctions and commercial paper markets that typically require a minimum of N5 million in the primary market. This dynamic has been particularly powerful for retail participation and has been reinforced by the growth of fintech distribution platforms that allow fund subscriptions and redemptions via mobile applications.
TOP 10 PERFORMING MONEY MARKET FUNDS — JULY 2026 (RANKED BY YTD YIELD)
10. CardinalStone Money Market Fund — 18.36%
Managed by CardinalStone Asset Management Limited, the CardinalStone Money Market Fund retained its tenth position from June with a year-to-date yield of 18.36%. The fund manages N37.08 billion in assets and serves 2,417 unitholders, with a unit price of N1.00. It is the largest fund by assets under management within this top 10 ranking, outside of Coronation, underscoring how scale and yield rankings operate on separate tracks in this market.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N918,000 in returns, bringing their total to N5,918,000.
9. Zedcrest Money Market Fund — 18.59%
The Zedcrest Money Market Fund, managed by Zedcrest Investment Managers Limited — part of Zedcrest Group, led by Group Chief Executive Officer Adedayo Amzat — retained its ninth position from June with a YTD yield of 18.59%. The fund manages N22.57 billion in assets and serves 9,460 unitholders, with a unit price of N1.00.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N929,500 in returns, bringing their total to N5,929,500.
8. STL Money Market Fund — 18.81%
The STL Money Market Fund, managed by STL Asset Management Limited and backed by STL Trustees Limited — led by Managing Director and Chief Executive Officer Funmi Ekundayo — recorded a YTD yield of 18.81% in July, falling four places from fourth in June. That four-place drop is the steepest ranking decline among any top 10 fund this month, suggesting stronger upward momentum from competing funds rather than a decline in STL’s absolute performance.
The fund manages N18.77 billion in assets and serves 2,004 unitholders, with units priced at N100. An investor who placed N5 million in this fund at the start of the year would have earned approximately N940,500 in returns, bringing their total to N5,940,500.
7. Alpha10 Money Market Fund — 18.86%
The Alpha10 Money Market Fund makes its debut in the top 10 rankings in July, managed by Alpha10 Fund Managers Limited, part of Alpha10 Group under Managing Director and Chief Executive Officer Abigail Utomi. Launched in December 2025 and debuting on the performance charts in March 2026, the fund is among the newest participants in the Nigerian money market fund segment — yet it has already established itself as a yield leader.
The fund manages N2.28 billion in assets and serves 228 unitholders, with a unit price of N1.00. An investor who placed N5 million in this fund at the start of the year would have earned approximately N943,000 in returns, bringing their total to N5,943,000. Alpha10’s entry into the top 10 reinforces the trend of smaller, newer funds outperforming on yield.
6. Trustbanc Money Market Fund — 18.99%
The Trustbanc Money Market Fund, managed by Trustbanc Asset Management Limited — part of Trustbanc Group, led by Group Managing Director and Chief Executive Officer Abubakar Jimoh — retained its sixth position from June with a YTD yield of 18.99%. The fund manages N18.13 billion in assets and serves 1,044 unitholders, with a unit price of N1.00.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N949,500 in returns, bringing their total to N5,949,500.
5. Myrtle Nest Money Market Fund — 19.09%
The Myrtle Nest Money Market Fund enters the top 10 for the first time in July, managed by Myrtle Asset Management Limited under Chief Executive Officer Oluwaseun Adesoye. Launched in 2026, it is one of the newest funds in the entire segment, yet has produced a YTD yield of 19.09% — placing it ahead of several more established names.
The fund manages N652.39 million in assets and serves 375 unitholders, with a unit price of N1.00 — the smallest fund by assets under management in this ranking. Its arrival in the top five reinforces the pattern of newer, smaller funds punching above their weight in yield performance.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N954,500 in returns, bringing their total to N5,954,500.
4. Greenwich Plus Money Market Fund — 19.11%
The Greenwich Plus Money Market Fund, managed by Greenwich Asset Management Limited — part of Greenwich Merchant Bank Group led by Group Chief Executive Officer Benson Ogundeji — recorded a YTD yield of 19.11% in July, rising four places from eighth in June. That four-place gain makes it one of the joint-biggest upward movers of the month alongside DLM.
The fund manages N15.19 billion in assets and serves 1,144 unitholders, with units priced at N100. An investor who placed N5 million in this fund at the start of the year would have earned approximately N955,500 in returns, bringing their total to N5,955,500.
3. RT Briscoe Savings & Investment Fund — 20.13%
The RT Briscoe Savings & Investment Fund, managed by DLM Asset Management Limited and backed by RT Briscoe Nigeria Plc — led by Group Managing Director Seyi Onajide — slipped one place from second in June to third in July, posting a YTD yield of 20.13%. Despite the ranking drop, it remains one of only three funds in the segment to have delivered a year-to-date return exceeding 20%.
The fund manages N520.46 million in assets and serves 63 unitholders, with units priced at N1,000 — among the highest unit prices in the top 10. An investor who placed N5 million in this fund at the start of the year would have earned approximately N1,006,500 in returns, bringing their total to N6,006,500.
2. Coronation Money Market Fund — 20.22%
The Coronation Money Market Fund, managed by Coronation Asset Management Limited under Managing Director Aigbovbioise Aig-Imoukhuede, slipped one place from the top spot it held in June to second in July, recording a YTD yield of 20.22%. Despite the positional shift, Coronation remains the dominant fund in this ranking by assets under management and unitholder count.
The fund manages N98.55 billion in assets across 20,347 unitholders at a unit price of N1.00 — making it both the largest and most widely held fund in the top 10 by a significant margin. An investor who placed N5 million in this fund at the start of the year would have earned approximately N1,011,000 in returns, bringing their total to N6,011,000.
1. DLM Money Market Fund — 20.69%
Leading the July rankings is the DLM Money Market Fund, managed by DLM Asset Management Limited — part of DLM Capital Group, led by Group Chief Executive Officer Sonnie Ayere — with a YTD yield of 20.69%. The fund rose four places from fifth in June to claim the top position in July, the joint-largest upward move among the top 10 this month.
The fund manages N2.07 billion in assets and serves 317 unitholders, with units priced at N1,000. An investor who placed N5 million in this fund at the start of the year would have earned approximately N1,034,500 in returns, bringing their total to N6,034,500. DLM Asset Management also manages the third-ranked RT Briscoe Savings & Investment Fund, making it the only firm in the top 10 with two funds among the highest yielders.
WHAT’S BEING SAID
The sustained growth of Nigeria’s money market fund segment has attracted consistent commentary from market watchers, regulators, and investment analysts, most of whom attribute the sector’s expansion to a deliberate alignment between tight monetary policy and investor demand for real returns.
At the 14th Annual BusinessDay CEO Forum held in Lagos on July 16, CBN Governor Olayemi Cardoso signalled that the central bank had expected to begin easing rates after months of disinflation, but that geopolitical shocks — particularly tensions involving the United States and Iran — had required a more cautious approach. That signal effectively prepared the market for the MPC’s decision five days later to retain the MPR at 26.5%.
Analysts at Nairametrics have noted that money market funds function as an effective crowdfunding mechanism in Nigeria’s investment landscape, enabling retail investors to access treasury bill yields that otherwise require a minimum of N5 million in the primary market — but with a fund entry point as low as N1,000 via digital platforms.
A review published by nairaCompare ahead of the second half of 2026 observed that top-performing funds had delivered yields above 20% throughout the first six months of the year, consistently outpacing inflation while offering next-day liquidity and minimum investments as low as N5,000. The same review noted that if the CBN were to cut rates further in H2 2026 — as some analysts expect — yields on treasury bills and money market funds would follow, narrowing the current return differential that has made the segment so attractive.
BusinessDay’s analysis of SEC weekly valuation data captured a broader structural point: that money market funds generate income primarily from treasury bills, commercial papers, bank placements, and other short-term fixed-income securities, and that the high-interest-rate environment maintained by the CBN has been the central engine of performance across the asset class.
WHAT’S NEXT
The next CBN MPC meeting is expected in September 2026. Market participants will watch closely for any shift toward monetary easing, which would begin to compress the treasury bill yields that underpin money market fund returns.
SEC’s monthly NAV data for August 2026 will reveal whether the 4.96% month-on-month growth in July was sustained or whether higher-yielding equity and bond markets begin to attract capital away from the segment.
New fund entrants — including Radix Money Market Fund, which joined the segment in July — will be tracked to see whether additional funds enter the top 10 rankings in the coming months, a trend that has accelerated since March 2026.
Analysts expect that if the MPR falls by 50 to 100 basis points before year-end, money market fund yields could begin to moderate from the 18–21% range currently recorded by the top performers, potentially prompting portfolio reallocations into longer-duration instruments.
BOTTOM LINE
The Bottom Line: Nigeria’s money market fund sector has become the clearest beneficiary of the CBN’s two-year tightening cycle — N6.27 trillion in managed assets and nearly 847,000 unitholders do not accumulate by accident. But with the CBN now holding rates rather than raising them, and with multiple analysts pricing in cuts before year-end, the current yield window for top performers like DLM and Coronation may be narrowing. Investors entering today are capturing returns that were engineered by a specific policy environment; the smart question is not just which fund leads now, but which will continue to lead when the rate tide turns.
Data sourced from SEC weekly valuation reports. All yield figures are year-to-date as of July 31, 2026. Returns projections are illustrative, based on a N5 million notional investment held from January 1, 2026.
Suspected bandits abduct the King of Igbesi and the first wife of the Baale of Dabu in separate attacks in Kwara.
Police confirm the monarch’s abduction, while the Kwara South Development Forum calls for the release of the victims.
Sokoto Governor’s security aide urges political, traditional and religious leaders to work together against insecurity.
Main Story
Suspected bandits have abducted the King of Igbesi in Isin Local Council Area of Kwara, Oba Moses Iwedunmoye I, and the first wife of the Baale of Dabu in Ifelodun Local Council Area, identified as Iya Ayoka.
The monarch was reportedly taken from Igbesi, a community in Oke-Onigbin town, during an attack at about 11 p.m. on Saturday.
The Kwara Commissioner of Police, Ojo Adekimi, confirmed the abduction, although a palace source said other residents were also taken during the attack.
Adekimi, however, said the traditional ruler was the only person abducted.
In a separate incident, Ayoka was reportedly kidnapped on Friday night, according to the Kwara South Development Forum (KSDF).
The forum’s Secretary, Olasehinde Oluwatoba, called on the Federal Government and the Kwara State Government to work towards securing the release of Ayoka and other victims being held by their abductors.
KSDF also raised concerns over the continued captivity of Fasilat Babatunde, a 23-year-old woman who was abducted from Wande community in Ifelodun Local Council Area on July 15.
The group said armed men invaded Babatunde’s residence during the attack and subsequently demanded N20 million for her release.
According to KSDF, the abductors had gained access to Babatunde’s TikTok account and were using it to publish posts and make calls while communicating with her family over the ransom.
The latest incidents have heightened concerns about insecurity in Kwara South, where communities have continued to report kidnappings and armed attacks despite increased security measures in the area.
The Issues
The abductions highlight continuing security concerns in parts of Kwara, particularly communities in the southern part of the state.
The involvement of traditional rulers and residents in the reported attacks has also raised concerns about the vulnerability of communities to armed groups and kidnappers.
The demand for ransom in Babatunde’s case further shows the financial motive behind some of the kidnappings reported in the area.
What’s Next
KSDF is calling for urgent government action to secure the release of the abducted victims, including Ayoka and Babatunde.
Usman also urged residents to support security agencies by providing credible and timely information to aid ongoing operations against insecurity in Sokoto State.
Bottom Line
The separate abductions in Kwara have renewed concerns about insecurity in the state, while calls from stakeholders in Kwara and Sokoto centre on stronger security cooperation, timely information and collective action against armed groups.
Veteran Yoruba actor Taiwo Hassan, popularly known as Ogogo, has been buried in Ilaro, Ogun State.
The 66-year-old actor was buried on Monday according to Islamic rites.
Family members, friends, colleagues and sympathisers gathered to pay their final respects.
Veteran actor Yinka Quadri broke down in tears during the burial proceedings.
Several Nollywood stars, including Jide Kosoko, Faithia Balogun, Femi Adebayo and Mr Latin, attended the funeral.
Ogogo died at about 3pm on Sunday, August 23, 2026.
Main Story
Tears and grief filled Ilaro, Ogun State, on Monday as the remains of veteran Nollywood actor Taiwo Hassan, popularly known as Ogogo, were laid to rest according to Islamic rites, The burial brought together members of Ogogo’s family, friends, colleagues and sympathisers who gathered in his hometown to bid farewell to the 66-year-old actor.
Videos from the funeral proceedings showed mourners carrying Ogogo’s remains to the burial ground as the final Islamic rites were performed, One of the most emotional moments came from veteran actor and longtime friend of Ogogo, Yinka Quadri, who broke down in tears during the ceremony.
Quadri was visibly overwhelmed with grief as people around him attempted to console him, Other Nollywood personalities present at the burial included Jide Kosoko, Faithia Balogun, Femi Adebayo, Mr Latin, Toyosi Adesanya, Ireti Osayemi and Bisi Omo Logbalogba, among others.
Family members and well-wishers also participated in the ceremony as the veteran actor was committed to the earth, Ahead of the burial, actor Bola Oyin-Adejobi paid tribute to Ogogo while speaking with journalists and prayed that the deceased would attain Al-Jannah Firdaus, Ogogo’s remains arrived in Ilaro on Sunday, shortly after his death.
The Issues
Ogogo’s death has left a significant void in the Yoruba-language film industry, where he was regarded as one of its veteran figures, His death came after a prolonged battle with illness, with his daughters previously disclosing that he had been battling stage-four cancer, The actor’s passing has generated an outpouring of tributes from colleagues and admirers who have continued to reflect on his contribution to Yoruba cinema, His burial in Ilaro also underscores the actor’s strong connection to his hometown and the community where he was widely regarded as a prominent son.
What’s Being Said
The mood at the burial was dominated by grief as colleagues and friends remembered Ogogo’s personality, career and longstanding relationships within the Nigerian film industry, Yinka Quadri’s emotional reaction particularly reflected the personal loss felt among actors who worked closely with Ogogo for decades, Bola Oyin-Adejobi also used the occasion to pray for the deceased, asking for his acceptance into Al-Jannah Firdaus, The presence of several prominent Yoruba movie actors further demonstrated the respect Ogogo commanded among his colleagues.
What’s Next
Following his burial, attention will shift towards preserving and celebrating Ogogo’s legacy in Yoruba-language cinema, Tributes from colleagues, fans and industry stakeholders are expected to continue as the Nigerian entertainment industry reflects on his decades-long career, With hundreds of film appearances and more than four decades in the industry, Ogogo leaves behind an extensive body of work that will remain part of the history of Yoruba cinema.
Bottom Line
The burial of Taiwo Hassan, popularly known as Ogogo, brought an emotional end to the final chapter of the veteran actor’s life, From Yinka Quadri’s tears to the presence of several generations of Yoruba movie stars, the ceremony demonstrated the depth of the loss within Nigeria’s entertainment industry, Ogogo’s death at 66 marks the passing of a major figure in Yoruba cinema, but his decades of performances and contribution to Nollywood will continue to shape his legacy.
CBN will offer ₦700 billion in Treasury bills across 91-, 182- and 364-day maturities
The 364-day bill accounts for ₦500 billion of the offer as investors seek longer-duration naira assets
Analysts expect strong demand but anticipate lower auction rates amid easing inflation and high system liquidity
Main Story
The Central Bank of Nigeria (CBN) is scheduled to offer ₦700 billion in Treasury bills at its primary market auction on Wednesday, with the one-year instrument expected to attract the strongest demand.
According to the auction circular, the offer comprises ₦100 billion each in 91-day and 182-day Treasury bills, while the 364-day instrument accounts for ₦500 billion of the total.
The large allocation to the one-year bill comes as banking system liquidity remains elevated, strengthening investors’ capacity to take positions in naira-denominated fixed-income assets.
Market analysts expect competition for the longer tenor to remain strong as investors seek to lock in relatively attractive yields before potential repricing.
Cowry Asset Management Limited said demand for the 364-day bill is likely to remain firm, particularly given its dominant share of the auction offer.
“Given the dominance of the longer tenor in the offer structure, competition for the 364-day bill is expected to remain strong as investors seek to secure relatively high yields for an extended period,” Cowry Asset Management Limited said.
The firm added that auction rates were expected to remain broadly aligned with prevailing secondary-market levels, although strong demand could moderate yields.
Investor positioning has also been influenced by the easing of headline inflation to 15.43% in July 2026. With nominal Treasury bill yields remaining above inflation, fixed-income assets continue to offer positive real returns.
In the secondary market, the average Treasury bill yield settled at 18.57%, up three basis points week-on-week. Cowry Asset Limited reported mild bullish sentiment around the middle of the yield curve, supported by demand for relatively attractive maturities, while the short and long ends faced bearish pressure.
What’s Being Said
“We expect rates at the auction to remain broadly aligned with prevailing secondary-market levels, although strong demand could moderate yields at the margin,” Cowry Asset Management Limited said.
The assessment reflects expectations that elevated liquidity will support demand while easing inflation and recent repricing in the bond market could place downward pressure on Treasury bill yields.
What’s Next
The CBN will conduct the ₦700 billion primary market auction on Wednesday across the three maturities.
Investors will closely monitor the clearing rates, particularly for the 364-day bill, to determine whether strong demand results in lower yields relative to prevailing secondary-market levels.
Bottom Line
The Bottom Line: The ₦700 billion auction gives investors a substantial opportunity to lock in naira yields, but strong liquidity and easing inflation increase the likelihood of downward pressure on rates. The ₦500 billion one-year allocation will be the clearest test of how strongly investors still value longer-duration Treasury bills.
Oil prices fell after last week’s rally as investors awaited details of a new US economic offensive against Iran.
Asian shares declined, with technology stocks under pressure ahead of Nvidia’s earnings report.
Investors are also watching the Jackson Hole meeting for signals on US monetary policy.
Main Story
Oil prices fell on Monday after recording strong gains last week, while global equities came under pressure as investors awaited details of a proposed US economic offensive against Iran.
US Treasury Secretary Scott Bessent was expected to outline new measures against Tehran later in the day, as the conflict in the Middle East continued and uncertainty persisted over the reopening of the Strait of Hormuz.
Bessent described the planned measures in a Financial Times article as an economic offensive of unprecedented scale, calling it an “economic D-Day”.
The prospect of tougher sanctions initially pushed both major crude benchmarks lower, with Brent remaining above $92 a barrel after gaining more than 7 per cent in the previous week.
Susannah Streeter, chief investment strategist at Wealth Club, said the shift towards economic measures could provide some relief from fears of further military action, although uncertainty remained over the prospects for a peace agreement.
European markets were relatively subdued, with London edging higher while Frankfurt and Paris were broadly unchanged.
Asian equities recorded wider losses, led by technology stocks, as investors positioned ahead of Nvidia’s earnings report. The US chipmaker has become an important indicator of investor confidence in the sustainability of the artificial intelligence investment boom.
South Korea’s Kospi fell more than 3 per cent, weighed by a sharp decline in Samsung Electronics, while Tokyo and Shanghai also ended lower.
Hong Kong’s Hang Seng Index declined despite news that fast-fashion retailer Shein planned to make its market debut in the city on Sept. 1. The listing is expected to value the company at about $27 billion.
Chinese technology company Alibaba also remained in focus after announcing plans to raise $10.2 billion through a Hong Kong share sale to finance its artificial intelligence expansion.
Investors are also looking ahead to the annual Jackson Hole gathering of central bankers, economists and finance officials in the United States, where developments in monetary policy are expected to remain a major focus.
The meeting follows moves by the US Treasury to increase bond buybacks as long-term borrowing costs have risen, with the 30-year Treasury yield reaching levels last seen in 2007.
Bond yields have also risen in several Western economies amid concerns over inflation and government debt, while the United States has reported federal debt exceeding $40 trillion.
On currency markets, the Canadian dollar weakened against the US dollar as trade tensions between Ottawa and Washington intensified following Canada’s vow to retaliate against new US tariffs.
The Issues
Markets are balancing several competing risks, including the impact of the Iran conflict on global energy supplies, uncertainty over US sanctions, rising government debt and questions about the sustainability of investment in artificial intelligence.
For oil markets, developments around Iran and the Strait of Hormuz remain particularly important because prolonged disruption could affect energy supplies and keep prices elevated.
Technology investors, meanwhile, are looking to Nvidia’s results for evidence that spending on AI infrastructure can continue to support the sector’s high valuations.
What’s Being Said
“The US is changing tactics in its battle against Iran, and its fight to get oil flowing more freely from the region,” — Susannah Streeter, chief investment strategist, Wealth Club.
“There may be some relief that the threats have moved from military strikes to some form of super sanctions, but there is little confidence that a route to a peace deal will open up any time soon,” — Streeter.
“These results will also offer insight into demand for AI infrastructure, how Nvidia is managing Chinese competition and what the future holds for the sector,” — Kathleen Brooks, research director, XTB.
What’s Next
Investors will focus on Bessent’s announcement on measures against Iran, developments around the Strait of Hormuz and any indications of progress towards ending the conflict.
Nvidia’s earnings and developments at Jackson Hole will also be closely watched for their potential impact on technology stocks, monetary policy expectations and broader market sentiment.
Bottom Line
Oil and equities opened the week under pressure as investors weighed the potential economic impact of tougher US action against Iran alongside concerns over technology valuations, borrowing costs and global economic growth.
Banking system liquidity rose 25.35% week-on-week to ₦4.47 trillion after ₦3.01 trillion in Federation Account Allocation Committee inflows
Overnight rates eased as liquidity inflows outweighed ₦805.2 billion in Federal Government bond settlement outflows
Average Treasury bill yield increased three basis points week-on-week to 18.57% ahead of the latest primary market auction
Main Story
Nigeria’s money market recorded stronger liquidity and softer short-term funding rates as ₦3.44 trillion in major inflows outweighed bond settlement outflows during the review period.
Banking system liquidity increased 25.35% week-on-week to ₦4.47 trillion from ₦3.57 trillion, supported by ₦429 billion in primary market repayments and approximately ₦3.01 trillion from the Federation Account Allocation Committee (FAAC), according to the market data supplied for the period.
The inflows more than offset ₦805.2 billion in settlements from the Federal Government of Nigeria (FGN) bond auction, allowing liquidity conditions to remain broadly comfortable.
Data from the FMDQ platform showed that the overnight rate declined by 16 basis points to 22.36%, while the Open Repo Rate (OPR) remained unchanged at 22.00%. The Overnight Nigerian Interbank Offered Rate (NIBOR), however, increased marginally by two basis points to 22.23%, indicating some residual pressure at the short end of the market.
The Central Bank of Nigeria (CBN) did not conduct an Open Market Operation (OMO) auction during the period, leaving excess liquidity in the banking system largely unsterilised.
In the Treasury bills market, trading remained relatively subdued as investors positioned ahead of the primary market auction. The average Treasury bill yield settled at 18.57%, representing a three-basis-point increase week-on-week.
Cowry Asset Limited said investor appetite remained influenced by expectations around the primary market auction and prevailing liquidity conditions.
“The modest rise in average yields indicates that, despite pockets of buying interest, investors continued to demand attractive entry levels amid expectations surrounding the upcoming primary auction and prevailing liquidity dynamics,” Cowry Asset Limited said.
The easing of headline inflation to 15.43% in July 2026 also improved the real-return outlook for fixed-income investors, with nominal Treasury bill yields remaining above the inflation rate.
What’s Being Said
“Given the dominance of the longer tenor in the offer structure, competition for the 364-day bill is expected to remain strong as investors seek to secure relatively high yields for an extended period,” Cowry Asset Management Limited said.
The firm expects auction rates to remain broadly aligned with secondary-market levels, although stronger demand could place downward pressure on yields.
What’s Next
The market will focus on the upcoming primary Treasury bills auction, where investors are expected to assess available yields against elevated system liquidity and the latest inflation data.
Secondary-market activity is also likely to remain sensitive to expectations of lower spot rates, particularly as investors reassess the relative attractiveness of short- and long-duration fixed-income instruments.
Bottom Line
The Bottom Line: Higher system liquidity is easing immediate funding pressure, but it has not translated into a broad decline in fixed-income yields. Investors remain focused on securing attractive Treasury bill returns before further liquidity and inflation-driven repricing pushes rates lower.
Veteran Nollywood actor Tony Umez has celebrated his 60th birthday.
The actor marked the milestone on Sunday, August 23, 2026.
Umez shared photographs from his birthday celebration on his verified Instagram account.
Fans, colleagues and followers congratulated the actor and wished him good health and more years.
Umez is known for his roles in romantic and family-themed Nollywood productions.
He has remained a familiar face in the Nigerian film industry through decades of acting.
Main Story
Veteran Nollywood actor Tony Umez has celebrated his 60th birthday, marking a major milestone in a career that has made him one of the familiar faces in Nigeria’s film industry, Umez marked the occasion on Sunday, August 23, 2026, sharing photographs from his birthday celebration on his verified Instagram account.
In his birthday message, the actor expressed gratitude to God for allowing him to reach the milestone and reflected on his journey through life and the entertainment industry, The celebration attracted congratulatory messages from fans, followers and fellow actors, who celebrated Umez and wished him continued good health and longevity.
Umez has built a strong following among Nigerian film audiences through his performances in numerous Nollywood productions, particularly romantic and family-themed movies, Over the years, his roles have contributed to his recognition among audiences who followed the growth of Nollywood and its transition from the home-video era to the modern Nigerian film industry.
The Issues
Reaching 60 represents a significant milestone for an actor whose career has spanned several stages of Nollywood’s development, Umez belongs to a generation of Nigerian actors who became widely recognised during the industry’s rapid expansion and helped establish familiar character types and storytelling styles that became popular among domestic audiences.
His longevity also reflects the ability of established Nollywood actors to maintain relevance as the industry continues to evolve through cinema releases, streaming platforms and new forms of digital entertainment, For veteran performers, remaining visible in an increasingly competitive industry requires adapting to changing audiences while maintaining the recognition built through years of work.
What’s Being Said
Umez’s birthday post focused on gratitude and reflection as he celebrated the milestone, His followers and colleagues responded with congratulatory messages, celebrating his contribution to Nollywood and wishing him more years in good health, The response also highlighted the continued affection many Nigerian film audiences have for actors from earlier generations of Nollywood.
What’s Next
The 60th birthday milestone provides an opportunity to reflect on Umez’s contribution to Nigerian entertainment and the legacy he has built through his acting career, As Nollywood continues to expand into international markets and streaming platforms, veteran actors such as Umez remain part of the industry’s evolving history, His continued involvement in film and entertainment could further extend a career that has already spanned several decades.
Bottom Line
Tony Umez’s 60th birthday marks more than a personal milestone; it celebrates decades of participation in the growth and evolution of Nollywood, From romantic and family-themed productions to his enduring connection with Nigerian audiences, Umez has established a recognisable presence in the country’s film industry, As fans and colleagues celebrate the veteran actor, his milestone offers an opportunity to acknowledge a career that has helped shape the Nigerian screen entertainment landscape.
