Business

Yields Tilt Upward As Bond Prices Drop

Published

14 years ago

June 27, 2012

There was an uptrend in yields across all maturities for the week ended June 22, 2012 as a result of low demand for fixed income securities.

Market watchers say investors preference for equities which resulted to the bullish trend in the equities market may have been responsible for the decrease in the price of bound.

In the over-the-counter bond market the 20-year, 10, 00 per cent FGN July 2030 bond dipped by N0.23 in price while yield rose to 14.47 per cent.

Also the 10-year, 7.00 per cent FGN October 2019 debt instrument dropped N0.14 in price even as yield firmed to 15.70 per cent.

The 5-year 4.00 per cent FGN April 2015 bond lost N0.10 even as yield rose to 15.00 per cent while the 3-year, 10.50 per cent FGN March 2014 bond shed N0.15 and yield increased to 15.79 per cent.

Meanwhile the Central Bank of Nigeria (CBN) sold a total of N100.62 billion in treasury bills with 91-day and 182-day maturities during its bi-monthly auction last week with mixed yields as against its previous auction.

According to the Apex bank, it sold N37.49 billion worth of the 91-day paper at a return of 14.05 per cent down from the 14.10 per cent at the previous auction even as N63.13 billion worth of 182 –day bills at 15.31 per cent was issued compared with 14.94 per cent at the previous auction.

According to the CBN, Nigeria plans to raise N841.56 billion worth of treasury bills which range from three months to one year in the third months of the year.

The CBN said it would auction N235.19 billion worth in 91-day, 182-day and 364-day paper in the last two weeks of June, N250.44 billion worth in July and N212.70 billion in August and another N142.97 billion worth of the same tenor in the first week of September.

The Equities Sector of the Nigerian Stock Exchange (NSE) rose by 0.99 per cent as the bulls were in charge of the market.

NSE benchmark index, the all share Index finished higher at 21,394.77 basis points having opened at 21,184.54 basis points. The cumulative market capitalisation of listed equities tilted northward as it rose from N6.76 trillion at which it opened the week to N6.83 trillion.

Four of the NSE Sectoral indices were on the upside, NSE 30 index surged by 1.01 per cent while the NSE consumer Goods Index soared by 1.73 per cent.

The NSE Banking-10 index increased by 1.64 per cent even as the NSE Insurance 10 index appreciated by 3.14 per cent, according to NSE weekly report.

On the flipside, the NSE Oil/Gas-5 index dipped by 2.39 per cent.

The market recorded a total turnover volume of 930.68 million units of shares valued at N6.33 billion exchanged by investors in 17, 744 trades even as the banking sub-sector accounted for 493.17 million units of shares at the value of N3.64 billion in 9,880 deals.

Vivian-Peace Nwinaene

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

17 hours ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

18 hours ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

4 days ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi