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FMDQ OTC Posts N13.42trn Turnover

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FMDQ OTC Securities Exchange recorded N13.42 trillion worth of transactions in fixed income and currency markets in March.
This is contained in the company’s market report obtained by newsmen on Monday in Lagos.
The report showed that the turnover was 10.45 per cent or N1.27 trillion, higher than the N12.15 trillion recorded in February.
According to the report, transactions in Treasury Bills (TBs) accounted for 49.51 per cent of the total value against 52.20 per cent achieved in February.
FGN bonds got 8.01 per cent of total turnover compared to the 9.01 per cent recorded in February.
The report also indicated that money and foreign exchange markets accounted for 19.42 per cent and 22.91 per cent, respectively, during the period under review.
Transactions in fixed income market stood at ¦ 7.72 trillion, indicating a growth of 3.70 per cent or (¦ 0.29trn) above the value recorded in the previous month.
Our source reports that activities in the Foreign Exchange (FX) market accounted for 22.91per cent in contrast to the 16.47 per cent recorded in February.
Money market transactions (Repurchase Agreements (Repos) / Buy-Backs & Unsecured Placements/Takings) accounted for 19.42 per cent of the total turnover from 22.19 per cent in February.
Transactions in the FX market settled at 9.72 billion dollars in March, an increase of 50.59 per cent or 3.27 billion dollars when compared with 6.46 billion dollars recorded in February.
According to the company, the increase was largely due to increased supply of FX into the market by the Central Bank of Nigeria (CBN).
It reported that that apex bank sold 1.24 billion dollars through various interventions conducted during the month.
The apex bank also moved its marginal rate for the Secondary Market Intervention Sales (SMIS) – Wholesale Forwards to N320 per a dollar from N315 per dollar.
The rate for invisibles (Personal & Business Travel Allowances, Medical bills, school fees, among others) was moved from N370 per a dollar to ¦ 357 per a dollar.
The report showed that the naira remained relatively flat to during the month at N306.35 to the dollar at the inter-bank market.
The naira appreciated by N65 to close at ¦ 390 to the dollar at the parallel market from ¦ 455.00 at the beginning of the month.

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Kenyan Runners Dominate Berlin Marathons

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2 days 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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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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2 days 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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