Economy
FG in Talks with CBN to Reduce Interest Rates

By Modupe Gbadeyanka
Vice President, Mr Yemi Osinbajo, has disclosed that the Federal Government was constantly in talks with the Central Bank of Nigeria (CBN) on how to reduce interest rates, which is presently at 14 percent.
On Tuesday, the CBN, after its two-day Monetary Policy Committee (MPC) meeting, retained the rates at 14 percent.
Addressing members of the House of Representatives Tactical Committee on Recession on Thursday, the Vice President also assured that the federal government was actively exploring options on how best to liquidate the debts owed contractors across the country, including the option of using bonds.
The lawmakers, led by Mr Bode Ayorinde, had a meeting with the Vice President to discuss the economy and possible ways of navigating Nigeria out of recession.
The Vice President said there was bound to be corruption in the land due to the arbitrage in the forex exchange which is so large.
“How many people will get this kind of opportunity we have to lead? The opportunity to serve is one that must be taken seriously and used for the common good,” Mr Osinbajo asked.
Addressing the bane of corruption and its attendant abnormality in matters of development, the Vice President said, “It is in our interest to deal with corruption, this is not moralising, it is an existential threat, it a survival issue. We need to address the fundamentals of that abnormality. If we do not address it, no matter what we say, things won’t work.
“I think it is very important, especially for us who are in Government today either as legislature or executive. We have to address this issue, it is a fundamental issue; everywhere in the world, even where they do not have the problems we have, they are addressing the issue.
“So we must address it and, it is everywhere; look at foreign exchange and you can identify the problems, you fix the rate of foreign exchange at the rate it is and you know what the black market is, look at the arbitrage which is so large; there is bound to be corruption, it is impossible for there not to be corruption”.
He, however, offered hope that the monetary and fiscal policies were being aligned, adding that “we are constantly in discussion with the CBN, discussing on how to reduce interest rates”.
The Vice President, in response to issues of revenue allocation raised by the visiting legislators noted that emphasis must shift from ‘sharing’ to generating more revenue internally, including in the states.
He also assured that the federal government was actively exploring options on how best to liquidate the debts owed contractors across the country, including the option of using bonds.
Speaking on behalf of the legislators, Mr Ayorinde said some of their areas of concern included the foreign exchange policy and its impact on manufacturing, calling for a review.
He said the Tactical Committee was ready to interface with the Economic Management Team, even as he commended the team for all its efforts to revamp the economy, including the recently released Economic Recovery and Growth Plan.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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