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Rising Inflation Triggers Yields On Bonds, Treasury Bills

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13 years ago

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The announcement of a surge in the inflation rate by the National Bureau of Statistic (NBS) triggered the yields on bonds and treasury bills last week.

Bonds and bills yields moved upwards between 20 and 100 basis points as April inflation figure rose to 12.9 per cent year-on-year from 12.1 per cent at which it stood in March, market analyst have said.

The Debt Management Office (DMO) at the middle of the review week issued a five-year bond that is to mature in April 2017 at N35 billion and a 10-year bond maturing in January 2022 at N35 billion.

The 2017 bond recorded a yield of 15.24 per cent as against the 15.1 per cent rate at the last auction in April even as the 2022 bond has a yield of 15.45 percent compared with 15.47 per cent in the previous auction. Both had subscription levels of 79.43 per cent and 96.86 per cent respectively.

At the Over-the-Counter Bond market a total of 131.543 million units of FGN bonds worth N121.239 billion were sold in 935 transactions down from the 144.020 million units valued at N132.605 billion recorded in 802 deals the previous week according to the Nigerian Stock Exchange NSE weekly report.

In the Equities sector of the NSE the total turnover for the week under review stood at 1.848 billion units of shares worth N13.863 billion in 20, 435 with the banking subsector accounting for 1.026 billion units of shares valued at N8.814 billion in 10,910 trades.

Trading in the shares of three banks accounted for 458.197 million units of shares representing 56 per cent, 60.77 per cent and 33.76 percent of the volume recorded by the sector, subsector and overall equities market turnover for the week in that order.

The bears drove the market as the all share (ASI) fell by 1.07 per cent to finish at 22,381.11 basis points from 22,622.44 at which it opened the week while the market capitalisation of listed equities dipped by N77 billion to close at N7.137 trillion compared with N7.214 trillion at which it stood the previous week.

The dark cloud spread across the market during the week under review making all the NSE sectoral indices tilting southwards as the NSE 30 index, NSE Consumer Goods Index, NSE Banking Index, NSE Insurance Index and the NSE Oil/Gas depreciating by 1.07 per cent, 1.46 per cent, 1.61 per cent, 2.87 per cent, 1.49 per cent and -0.79 per cent respectively.

 

Vivian-Peace Nwinaene

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Kenyan Runners Dominate Berlin Marathons

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23 hours ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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23 hours ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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23 hours ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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