General News
Naira Unfazed By US Rate Hike; Dollar weakens
By Lukman Otunuga, Research Analyst at FXTM,
The Naira remained flat against the Dollar today despite the Federal Reserve surprising markets with a hawkish US interest rate increase yesterday evening.
It is becoming clear that the Naira’s stability is the product of repeated intervention by the Central Bank of Nigeria. While the local currency’s resilience looks encouraging, falling Oil prices are seen complicating the CBN’s effort to defend the Naira. With heavily depressed Oil prices denting government revenues and reducing foreign exchange reserves, the local currency remains vulnerable ahead of the new year.
Hawkish Fed hike crush hopes of Santa rally
The last shred of hope over the possibility of a Santa Clause rally was crushed by the Federal Reserve’s hawkish rate hike on Wednesday.
Global equity markets were under intense selling pressure after the Fed sounded less dovish than expected. Although a rate hike in December was already heavily priced in by markets, investors who were looking for a ‘one and done’ statement were highly disappointed after the Fed flagged ‘some further gradual increases’ on rates are still on the cards. While the lower revision of the dot plot from three to two rate hikes in 2019 offered a dovish touch, the overall tone of the statement coupled with Fed Reserve Chair Jerome Powell’s press conference were hawkish.
Market players were looking for reassurance from the Fed as the year slowly comes to an end, but it seems that that opposite has been achieved with uncertainty in the air. With the Federal Reserve leaving the doors open to further rate hikes despite turbulent market conditions, market sentiment is poised to remain cautious for the rest of 2018. Powell’s hawkish comments during his press conference compounded to the uncertainty and confusion, especially when considering how he was dovish some weeks ago.
In regards to the technical picture, the Dollar Index is seen attacking 96.00 if bears are able to break below 96.40.
Commodity spotlight – Gold
Gold prices were thrown onto a rollercoaster ride mid-week after the Federal Reserve’s less dovish than expected tone caught investors by surprise.
Buying sentiment towards the Dollar initially received a boost following the interest rate hike but gains were later surrendered thanks to growth concerns. With risk aversion boosting appetite for safe-haven assets and the Dollar struggling to benefit, Gold has the potential to shine into 2019. Focusing on the technical picture, the yellow metal is bullish on the daily charts as there have been consistently higher highs and higher lows. A decisive breakout above $1,250.70 is seen opening a path towards $1,260.
General News
NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.
NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.
It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.
Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.
Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.
The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.
NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.
General News
Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Consequently, banks, schools and offices nationwide will be shut for the two days.
The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.
Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.
The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.
During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.
Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.
It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.
Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.
He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.
The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.
He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.
General News
New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

Mr. Tim Akano
The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.
This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.
New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.
In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.
As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.
The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.
The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.
New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.
Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.
Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.
He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.
He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.
Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.
He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.
By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.
Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.
As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.
The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.
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