The UK economy is showing signs of slowing, but calling the latest figures an outright economic slump would be misleading. Britain’s GDP grew by 0.4% in the second quarter of 2026, down from 0.6% in the first quarter. That is a slowdown, but it still means the economy expanded and the UK actually recorded the…
Edo State’s domestic debt has surged by ₦59.37 billion since the end of 2024, rising from ₦113 billion to ₦172.37 billion by March 2026, according to the latest Debt Management Office data. The increase has moved Edo from 12th to sixth among Nigeria’s most indebted states. But the most revealing part of the numbers isn’t…
The Central Bank of Nigeria (CBN) has removed restrictions that previously prevented banks using its Standing Lending Facility, or discount window, from simultaneously participating in the Nigerian Foreign Exchange Market and primary auctions of government securities. The move took immediate effect following a review of conditions in the FX, money and fixed-income markets. On paper,…
The Federal Reserve has purchased up to $5.179 billion in short-term US Treasury bills, but the headline figure is creating more excitement in financial markets than the operation itself may warrant. The New York Fed’s operation on August 11 targeted Treasury bills maturing in roughly one to four months. It is part of the Fed’s…
Nigeria’s stock market has reached a major milestone, with the Nigerian Exchange Group (NGX) market capitalization rising to about ₦160 trillion. President Bola Tinubu has welcomed the performance and backed an even bigger target of ₦230 trillion by the end of 2026. On the surface, this is a strong signal. The value of listed equities…
The naira is facing renewed pressure in the parallel market, with the dollar selling for around ₦1,420, even as the Central Bank of Nigeria insists that the foreign exchange market is becoming more stable. The latest parallel-market rate is notably higher than the official rate, which has been trading around ₦1,362–₦1,369 per dollar. Recent market…
Nigeria’s latest move to refinance Project Gazelle is less significant because of the headline $4.5 billion figure and more because of what the restructuring could change about the country’s access to cash. The National Economic Council has approved a new $4.5 billion financing arrangement, Project Gazelle 2, to refinance the outstanding balance of about $1.5…
Singapore has tightened its monetary policy for the second time in three months, as rising energy costs linked to ongoing tensions in the Middle East continue to raise concerns about inflation and global supply chains. On Monday, July 27, the Monetary Authority of Singapore (MAS) announced a slight increase in the rate of appreciation of…
