Babatunde Junaid

The Local Currency Bond Shift: Can the Capital Market Rescue Real-Sector Debt?

Foreign Investors Fund 28% of Bank Recapitalisation

The global appetite for Nigerian bank stocks is returning. The Central Bank of Nigeria (CBN) has revealed that offshore sources provided 28% of the total funds raised in the ongoing bank recapitalisation exercise. Hakama Sidi-Ali, the CBN’s Acting Director of Corporate Communications, shared these figures on Friday at the Enugu International Trade Fair. She argued…

Read Full News
Cardoso Cites $52.5bn Reserves as Economic Turnaround

CBN Slashes Ways and Means to N2.8 Trillion

Nigeria has effectively ended the era of fiscal dominance. Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, announced on Thursday that the federal government’s “Ways and Means” debt has crashed to N2.84 trillion. This represents a massive reduction from the N26.95 trillion inherited by the current administration. Speaking at the Monetary Policy Forum in Abuja,…

Read Full News
EU Commits €372m to Nigeria’s Digital and Farm Drive

EU Commits €372m to Nigeria’s Digital and Farm Drive

The European Union has unveiled a €372 million financial package to bolster Nigeria’s agriculture and digital infrastructure. Announced at the 8th Nigeria–EU Ministerial Dialogue in Abuja, the deal marks a significant expansion of the EU’s “Global Gateway” initiative. The funding combines €66 million in direct grants with €221 million in concessional loans and a targeted…

Read Full News
US Court Jails Nigerian Cyber-fraudster for 90 Months

US Court Jails Nigerian Cyber-fraudster for 90 Months

A United States court has sentenced James Junior Aliyu, a 30-year-old Nigerian national, to seven-and-a-half years in federal prison for orchestrating a massive business email compromise scheme. Aliyu, who was extradited from South Africa, led a syndicate that intercepted corporate communications to divert millions of dollars. Beyond the 90-month sentence, the court slapped him with…

Read Full News
Guinea Demands 1976 AFCON Title After CAF Penalty Precedent

Guinea Demands 1976 AFCON Title After CAF Penalty Precedent

The Guinea Football Federation has formally petitioned the Confederation of African Football (CAF) to retrospectively award it the 1976 Africa Cup of Nations (AFCON) title. This unprecedented move follows a landmark ruling on Tuesday, 17 March 2026, which stripped Senegal of the 2025 AFCON trophy. CAF recently awarded the 2025 championship to Morocco after concluding…

Read Full News
US Declares Economic War as Iran Threatens Hormuz

Trump Threatens Destruction of Iran’s South Pars Gas Field

President Donald Trump has threatened to “massively blow up” the South Pars gas field, the world’s largest natural gas reservoir, unless Tehran ceases its strikes on Qatari energy infrastructure. The ultimatum follows extensive damage to Qatar’s Ras Laffan LNG facility on Thursday, which sent global crude oil prices surging by 5%. While Mr Trump claimed…

Read Full News
Hamas Urges Iran to Spare Neighbours as War Escalates

Hamas Urges Iran to Spare Neighbours as War Escalates

Hamas issued a rare plea to Tehran on Saturday, calling on its primary benefactor to avoid targeting neighbouring Arab countries while maintaining Iran’s right to defend itself against the United States and Israel. The statement arrives as the Middle East conflict enters a more volatile phase, marked by Iranian missile barrages on Israel and retaliatory…

Read Full News
Nigerian Rice Industry Crumbles as Imports Hit N51bn

Nigerian Rice Industry Crumbles as Imports Hit N51bn

Nigeria spent N51 billion ($34.4 million) on foreign rice in 2024, signaling a sharp reversal of the self-sufficiency gains claimed by the previous administration. Data from UN Comtrade confirms that local rice has become uncompetitive against cheaper imports. High production costs and expensive energy are pricing Nigerian farmers out of their own market. President Bola…

Read Full News