Economy
Woodhall Finance House Launches Podcast, N1.5bn Creative Sector Fund
By Adedapo Adesanya
Woodhall Finance House, in partnership with the UK Government’s Department for Business and Trade, Polaris Bank, and the Lagos State Government, has launched The Creative Currency Podcast, an initiative designed to serve as both a media platform and an economic catalyst for Nigeria’s creative economy.
According to a statement, the podcast launch was hosted by the British Deputy High Commissioner, Mr Jonny Baxter, at his Lagos residence.
The launch brought together senior policymakers, investors, development finance institutions, high-net-worth individuals, and leading creatives from across Africa.
By weaving together capital flows, policy frameworks, and compelling narratives, the initiative seeks to unlock sustainable growth within Africa’s most vibrant export ecosystem.
Positioned at the nexus of finance, culture, and diplomacy, The Creative Currency Podcast aims to drive investment, strengthen cross-border partnerships, and reinforce the UK-Nigeria creative network as a catalyst for economic transformation.
Speaking on the event, the British Deputy High Commissioner Mr Baxter emphasized the UK’s commitment to creative collaboration, “The UK is proud to support Nigeria’s creative economy through long-term partnerships that combine innovation, investment, and cultural exchange. Through the Creative Industries Technical Working Group – a direct outcome of the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – and platforms such as The Creative Currency Podcast, we are deepening our commitment to creative collaboration.
“This is about creating real opportunities, building lasting partnerships, and empowering the next generation of African talent to thrive on the global stage.”
The Governor of Lagos State, Mr Babajide Sanwo-Olu, represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada Ambrose, emphasised the state’s position as Africa’s creative capital.
A panel on financing Africa’s creative economy featured Mrs Abimbola Ozomah, Executive Director, Polaris Bank, Sola Carrena, MD/CEO Helios Investment Partners, and Mrs. Mojisola Hunponu-Wusu, President of Woodhall Capital.
The discussion emphasized the need for innovative financial instruments, including blended finance, factoring, and creative bonds, to unlock the sector’s economic potential.
As a bold commitment to Nigeria’s creative industry, Woodhall Finance House announced a N1.5 billion Creative Sector Fund aimed at supporting export-ready creative enterprises and growth-oriented SMEs across fashion, film, music, beauty, and digital arts.
This was accompanied by a fireside chat exploring “UK-Nigeria Cultural Synergies to Drive Global Innovation and Transformation,” featuring Veekee James Atere, Creative Director Veekee James and Shoperikan, Shaffy Bello, Nigerian Film Actress and Singer and Mark Smithson, Country Director, UK’s Department for Business and Trade (DBT), who shared valuable insights on how cross-cultural collaboration can unlock new creative possibilities.
Commenting on the sector fund, Woodhall Capital Founder and President Mrs Hunponu-Wusu stated, “Creativity is no longer an abstract asset, it is a bankable commodity and must be treated as such by policymakers, investors, and financiers.
“Nobody can tell the Nigerian story like we Nigerians, and nobody is coming to save us. If we want to see real change, we must build our own table, design our own systems, and finance our own narratives.
“Our N1.5 billion Creative Sector Fund is our commitment to doing just that: backing bold ideas, scaling creative businesses, and turning cultural capital into economic power.”
The evening culminated in a cultural exchange under the UK’s Jollof and Tea campaign, a symbolic fusion of Nigerian and British identities through cuisine, conversation, storytelling, and high-level networking.
Guests connected over shared heritage and future ambitions, engaging in dynamic discussions around identity, investment, and the evolving global narrative of African creativity.
The Creative Currency Podcast is redefining the future of Africa’s creative economy, serving as a diplomatic instrument, transaction hub, and catalyst for structural reform. As global demand for African creativity continues to rise, platforms like this are essential for transforming visibility into viability and turning culture into capital, the statement noted.
By Dipo Olowookere
The local stock market firmed up by 1.13 per cent on Friday as appetite for Nigerian stocks remained strong.
Investors reacted well to the 2026 budget presentation of President Bola Tinubu to the National Assembly yesterday, especially because of the more realistic crude oil benchmark of $64 per barrel compared with the ambitious $75 per barrel for 2025. This year, prices have been between $60 and $65 per barrel.
Business Post observed profit-taking in the commodity and energy sectors as they respectively shed 0.14 per cent and 0.03 per cent.
But, bargain-hunting in the others sustained the positive run, with the consumer goods index up by 3.82 per cent.
Further, the industrial goods space appreciated by 1.46 per cent, the banking counter improved by 0.08 per cent, and the insurance industry gained 0.04 per cent.
As a result, the All-Share Index (ASI) increased by 1,694.33 points to 152,057.38 points from 150,363.05 points and the market capitalisation chalked up N1.080 trillion to finish at N96.937 trillion compared with Thursday’s closing value of N95.857 trillion.
A total of 34 shares ended on the advancers’ chart, while 24 were on the laggards’ log, representing a positive market breadth index and bullish investor sentiment.
Austin Laz gained 10.00 per cent to close at N2.42, Union Dicon also jumped 10.00 per cent to N6.60, Tantalizers increased by 9.80 per cent to N2.69, Aluminium Extrusion improved by 9.78 per cent to N12.35, and Champion Breweries grew by 9.71 per cent to N16.95.
Conversely, Sovereign Trust Insurance dipped by 7.42 per cent to N3.87, Royal Exchange lost 6.84 per cent to trade at N1.77, Omatek slipped by 6.84 per cent to N1.09, Eunisell depreciated by 5.88 per cent to N80.00, and Eterna dropped 5.63 per cent to close at N28.50.
Yesterday, traders transacted 1.5 billion units worth N21.8 billion in 25,667 deals compared with the 839.8 million units sold for N32.8 billion in 23,211 deals in the preceding session, showing a surge in the trading volume by 76.61 per cent, an uptick in the number of deals by 10.58 per cent, and a shrink in the trading value by 33.54 per cent.
By Adedapo Adesanya
Three stocks stretched the bearish run of the NASD Over-the-Counter (OTC) Securities Exchange by 1.21 per cent on Friday, December 19, with the market capitalisation giving up N26.01 billion to close at N2.121 billion compared with the N2.147 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropping 43.47 points to 3,546.41 points from 3,589.88 points.
The trio of FrieslandCampina Wamco Nigeria Plc, Central Securities Clearing System (CSCS) Plc, and NASD Plc overpowered the gains printed by four other securities.
FrieslandCampina Wamco Nigeria Plc lost N6.00 to sell at N54.00 per unit versus N60.00 per unit, NASD Plc shrank by N3.50 to N58.50 per share from N55.00 per share, and CSCS Plc depleted by N2.91 to N33.87 per unit from N36.78 per unit.
On the flip side, Air Liquide Plc gained N1.01 to close at N13.00 per share versus N11.99 per share, Golden Capital Plc appreciated by 70 Kobo to N7.68 per unit from N6.98 per unit, Geo-Fluids Plc added 39 Kobo to sell at N5.50 per share versus N5.11 per share, and IPWA Plc rose by 8 Kobo to 85 Kobo per unit from 77 Kobo per unit.
During the trading day, market participants traded 1.9 million securities versus the previous day’s 30.5 million securities showing a decline of 49.3 per cent. The value of trades went down by 64.3 per cent to N80.3 million from N225.1 million, but the number of deals jumped by 32.1 per cent to 37 deals from 28 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc finished the session as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units traded for N4.9 billion.
The most active stock by volume on a year-to-date basis was still InfraCredit Plc with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.7 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Adedapo Adesanya
It was not a good day for the Nigerian Naira at the two major foreign exchange (FX) market on Friday as it suffered a heavy loss against the United States Dollar at the close of transactions.
In the black market segment, the Naira weakened against its American counterpart yesterday by N10 to quote at N1,485/$1, in contrast to the N1,475/$1 it was traded a day earlier, and at the GTBank forex counter, it depreciated by N2 to settle at N1,467/$1 versus Thursday’s closing price of N1,465/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX) window, which is also the official market, the nation’s legal tender crashed against the greenback by N6.65 or 0.46 per cent to close at N1,464.49/$1 compared with the preceding session’s rate of N1,457.84/$1.
In the same vein, the local currency tumbled against the Euro in the spot market by N2.25 to sell for N1,714.63/€1 compared with the previous day’s N1,712.38/€1, but appreciated against the Pound Sterling by 73 Kobo to finish at N1,957.30/£1 compared with the N1,958.03/£1 it was traded in the preceding session.
The market continues to face seasonal pressure even as the Central Bank of Nigeria (CBN) is still conducting FX intervention sales, which have significantly reduced but not remove pressure from the Naira. Also, there seems to be reduced supply from exporters, foreign portfolio investors and non-bank corporate inflows.
President Bola Tinubu on Friday presented the government’s N58.47 trillion budget plan aimed at consolidating economic reforms and boosting growth.
The budget is based on a projected crude oil price of $64.85 a barrel and includes a target oil output of 1.84 million barrels a day. It also projects an exchange rate of N1,400 to the Dollar.
President Tinubu said inflation had plunged to an annual rate of 14.45 per cent in November from 24.23 per cent in March, while foreign reserves had surged to a seven-year high of $47 billion.
Meanwhile, the cryptocurrency market was dominated by the bulls but it continues to face increased pressure after million in liquidations in previous session over accelerating declines, with Dogecoin (DOGE) recovering 4.2 per cent to trade at $0.1309.
Further, Ripple (XRP) appreciated by 3.9 per cent to $1.90, Cardano (ADA) rose by 3.5 per cent to $0.3728, Solana (SOL) jumped by 3.4 per cent to $126.23, Ethereum (ETH) climbed by 2.9 per cent to $2,982.42, Binance Coin (BNB) gained 2.0 per cent to sell for $853.06, Bitcoin (BTC) improved by 1.7 per cent to $88,281.21, and Litecoin (LTC) soared by 1.2 per cent to $76.50, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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