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FCCPC Refutes Claims of Airtime Borrowing Ban, Reaffirms Consumer Protection Drive

The Federal Competition and Consumer Protection Commission (FCCPC) has dismissed widespread claims that it banned airtime borrowing and data advance services in Nigeria.

CBN Introduces Nigerian Overnight Financing Rate as New Benchmark

The Central Bank of Nigeria (CBN), in partnership with the Financial Markets Dealers Association (FMDA), has unveiled the Nigerian Overnight Financing Rate (NOFR) as the country’s new money market benchmark.

Iran Closes Strait of Hormuz Again, Accuses US of Violations

Tensions in the Middle East escalated on Saturday as Iran announced the closure of the Strait of Hormuz, accusing the United States of violating prior agreements amid a continuing naval blockade.  

Oil Prices Fall to $86 as Hormuz Reopens

Global oil prices fell sharply on Friday after the Strait of Hormuz was reopened to commercial shipping, easing fears of prolonged supply disruptions.  

Nigerian Crude Oil Hits $113, Tops Brent

Nigerian crude oil prices surged in Asian trade on Thursday, with Brass River trading at $113 per barrel, significantly higher than Brent crude, which dipped below $95 per barrel.  

SEC Proposes N7.5bn Capital Rule for Free Trade Zone Listings 

The Securities and Exchange Commission (SEC) has proposed a minimum paid-up share capital of ₦7.5 billion for Free Trade Zone Entities (FTZEs) seeking to raise funds from Nigeria’s capital market.