Economy
MMM is Satanic, Has Link with Mark 666—Prophet Okafor
**Death in President’s Family in 2017
**God Will Use Tinubu to Restore Nigeria
By Dipo Olowookere
Senior Pastor of Mountain of Liberation and Miracle Ministry (aka) Liberation Ministry, Mr Chris Okafor, has warned Nigerians to stay away from the popular Ponzi scheme called MMM.
The cleric, in his 2017 predictions, described MMM as “satanic” and not from God, stressing further that it is a “design for mark 666.”
In his other predictions, Prophet Okafor urged Nigerians to pray for a former military president and minister against death.
He also said President Muhammadu Buhari is not the one to lead Nigeria to its Promised Land, but someone to prepare the way for the ‘Messiah.”
The man of God further said he saw “death in family of the President.”
He also said “God will use (Mr Bola) Tinubu to restore Nigeria but he must be prayerful against conspiracy against his life spiritually and physically.”
On the Anambra election, Prophet Okafor said Mr Ifeanyi Ubah will take over from Governor Willie Obiano after his second term in office, but “must pray against conspiracy.”
Below are summary of his predictions:
* Death Of Former Military Head Of State.
* Major fire disaster in homes and market places.
* Death in family of the president.
* Osinbajo will not be impeached but will likely not be Buhari’s running mate.
* The church will be seriously persecuted all over the world beyond what it is currently going through but will have upper hand.
* Another major party would be formed that will wrestle power from the present government.
*Buhari is not the Messiah but to prepare the way for the Messiah.
* MMM is not of God but a design for mark 666.
* Ifeanyi Ubah will take over from the present governor Obiano of Anambra state after his second (2nd) term but he must pray against conspiracy.
* God will use Tinubu to restore Nigeria but he must be prayerful against conspiracy against his life spiritually and physically.
* The football and entertainment industry should pray against death on some major faces.
*Death of present and former minister(s) to be averted through prayers.
* A former leader of PDP to die.
* A popular man behind the pulpit to die.
*A major leader in Africa to die (in the mode of a President.)
* The economic situation will improve in Nigeria through divine intervention.
* There will be a serious attempt to Islamise Nigeria but the Lord says it will not come to pass.
*Boko Haram is going to regroup and will become deadlier but they will be stopped.
*There will be major restoration to a lot of people that have given up and families will be liberated from their strong enemies.
*A former Governor of Akwa Ibom waving goodbye but will be averted through prayers.
*A major country in Europe should pray against the death of a powerful leader.
*Nigeria’s glory days in sports will return, especially in football.
*An opposition party will likely take over power in South Africa. There is going to be a lot of political crises.
*A lot of finance houses/banks and their directors will go through a lot of crises and humiliations.
*Major oil dealers will face a lot of persecution.
*I see a major monarch waving goodbye.
*We have to pray against the outbreak of major airborne disease.
*There will be a major shakeup in the military and the police.
*There would be great improvement and discoveries in the power sector.
By Aduragbemi Omiyale
The Debt Management Office (DMO) on Monday allotted bonds worth N929.3 billion to investors from the N1.7 trillion bids it received from subscribers.
The exercise, which took place on Monday, July 20, 2026, was oversubscribed by market participants, reflecting the confidence investors have in the government’s ability to redeem the debt instrument on maturity.
On offer for sale for the July auction was N1.2 trillion worth of the FGN bonds, but the DMO allotted below this, despite receiving bids above the offer.
The papers were offered in 10-year, 15-year, and 20-year tenors, at N400 billion each.
For the decade-old note, investors staked N444.47 billion, but the debt office sold N245.73 billion at an 18.34 per cent coupon rate. For the one and a half-decade-old paper, bids valued at N518.00 billion were received by the DMO, with a non-competitive bid of N50.00 billion, with N302.13 billion allotted to investors at 18.40 per cent, and for the two-decade paper, the DMO got competitive bids of N665.19 billion and N381.46 billion was sold to bondholders at 18.35 per cent.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, disclosed that Nigeria’s external reserves had risen to $52.5 billion, enough to finance about nine months of imports.
He disclosed this on Tuesday at the end of the 306th meeting of the Monetary Policy Committee (MPC) held in Abuja, where the Monetary Policy Committee (MPC) retained the benchmark interest rate at 26.50 per cent as well as the standing facilities corridor at +50/-450 basis points around the MPR.
Similarly, the Cash Reserve Requirement (CRR) was maintained at 45 per cent for Deposit Money Banks, 16 per cent for Merchant Banks, and 75 per cent for non-Treasury Single Account (TSA) public sector deposits.
Speaking on FX developments, the central banker said at the $52 billion level, the country’s external reserves were significantly above the internationally recommended threshold of three months of import cover.
On the Naira exchange rate, Mr Cardoso said the foreign exchange market had deepened and was now operating on a transparent willing-buyer, willing-seller basis.
He said the apex bank remained committed to maintaining a liquid and functional foreign exchange market, adding that daily market turnover sometimes exceeded $1 billion.
According to him, the long-term stability of the naira would depend on key economic fundamentals, including increased oil exports, foreign direct investment, and improved domestic productivity to reduce dependence on imports.
He also added that the MPC welcomed the federal government’s renewed commitment to stronger policy coordination, particularly collaboration between fiscal and monetary authorities, which he said had helped reduce the impact of the Middle East crisis on the Nigerian economy.
Mr Cardoso said members of the committee also commended efforts to improve crude oil production and urged relevant agencies to intensify reforms in other sectors, including solid minerals, to boost government revenue.
On the regulatory forbearance granted to banks during the COVID-19 period, he reiterated that this had been discontinued because it had served its purpose.
According to him, the policy had “outlived its time” and was no longer necessary in assessing the health of the banking sector.
“Forbearance, we felt, had outlived its time. Many of you will recall this is something that came as a result of COVID. And now we are in 2026; we did not see the reason why that should continue to form part of the analysis of the banking system,” he said.
Mr Cardoso explained that banks had begun recalibrating their portfolios following the end of the policy, leading to a temporary reduction in outstanding risk assets.
He, however, assured that the development was part of a transition towards a stronger and more sustainable credit environment.
“It reflects a transition to a more sustainable and better quality credit environment, which is what we all want. We don’t want unanticipated shocks that come in a boom-and-bust fashion,” he said.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its recent positive run by 1.17 per cent on Tuesday, July 21, triggered by appreciation seen in four bellwethers.
Leading the pack was FrieslandCampina Wamco Nigeria Plc, which added N12.00 to its value to close at N153.15 per share compared with the previous day’s N141.15 per share. NASD Plc appreciated by N1.90 to N36.00 per unit from N34.10 per unit, Food Concepts Plc improved by 23 Kobo to N2.48 per share from N2.25 per share, and Afriland Properties Plc grew by a marginal 1 Kobo to N15.01 per unit from N15.00 per unit.
As a result, the market capitalisation of the bourse increased by N30.40 billion to N2.637 trillion from Monday’s N2.606 trillion, and the NASD Security Index (NSI) gained 50.70 points to finish at 4,393.97 points, in contrast to the 4,343.27 points it ended a day earlier.
The unlisted securities exchange recorded a price loser yesterday, and it was Geo-Fluids Plc, which shed 1 Kobo to settle at N2.30 per share versus N2.31 per share.
During the trading day, the volume of securities traded by market participants on Tuesday dropped 99.4 per cent to 322,147 units from the previous day’s 52.6 million units, the value of securities dipped by 89.8 per cent to N19.4 million from the preceding session’s N191.2 million, and the number of deals contracted by 3.6 per cent to 27 deals from 28 deals.
Great Nigeria Insurance (GNI) Plc ended the day as the most traded stock by value on a year-to-date basis, with 3.4 billion units traded for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units transacted for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 75.4 million units exchanged for N5.3 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
