General News
Naira finds comfort in Dollar weakness

By Lukman Otunuga
The Naira was granted some breathing room this week as the Dollar weakened on slowing growth fears in the United States.
While the local currency has scope to end gains amid expectations over the Fed taking a pause on rate hikes this year, the upside is likely to be limited by falling Oil prices. With depressed Oil reducing government revenues and complicating the CBN’s efforts to defend the Naira, the local currency remains in the firing line. If Oil prices continue to weaken during the early parts of 2019, the Naira is at threat of depreciating.
Stock markets resume rollercoaster ride
The final trading week of 2018 has been explosively volatile and wildly unpredictable due to geopolitical risks.
Global sentiment repeatedly swung from extremely bearish to bullish this week as investors tussled with concerns over slowing global growth, US-China trade developments, Brexit-related uncertainty and a partial US government shutdown. Although US stock markets bounced back to life yesterday to end positive and Asian shares traded mostly higher this morning, it is certainly too early for any celebrations. With investor appetite for riskier assets seen diminishing amid the unfavourable market conditions, global equity markets remain vulnerable to downside shocks. The geopolitical risk factors weighing painfully on global sentiment are likely to encourage investors to seek safety in the Japanese Yen and Gold.
Dollar hit by growth concerns and US politics
Buying sentiment towards the Dollar was dealt a sharp blow after a drop in US consumer confidence rekindled fears over a slowdown in economic momentum.
Concern over a partial US government shutdown compounded to the Greenback’s woes with the Dollar Index trading marginally below 96.45 as of writing. With slowing growth fears threatening the Dollar’s safe-haven status, the sentiment pendulum could swing in favour of the bears in 2019. In regards to the technical picture, the Dollar Index is shaky on the daily charts with prices trading below the 96.50 support. Sustained weakness below this level has the potential to open a path towards 96.00 in the near term.
Commodity spotlight – Gold
It is shaping up to be an incredibly positive trading week for Gold prices thanks to heightened geopolitical risks and Dollar weakness.
Explosively volatile equity markets, global growth fears, Brexit uncertainty and political instability in Washington have accelerated the flight to safety – ultimately sending Gold prices to levels not seen in more than 6 months. With turbulent market conditions guiding investors towards safe-haven assets, Gold is on route to concluding 2018 firmly above the $1,272 resistance level. The yellow metal has the potential to become a major talking point across markets next year, especially when considering how the Dollar is seen weakening on growth concerns and Fed expected to take a pause on rate hikes in 2019. Taking a look at the technical picture, a yearly close above $1,272 is likely to trigger a move higher towards the $1,288 and $1,300 level.
General News
MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal

MultiChoice, a CANAL+ company, has retained the distribution rights to 12 Warner Bros. Discovery thematic channels following the signing of a new multi-year, multi-territory agreement between CANAL+ Group and Warner Bros. Discovery, marking a significant expansion of their long-standing partnership.

MultiChoice
The new deal, which spans several regions across Africa and Europe, covers the distribution of HBO Max as well as the renewal of selected Warner Bros. Discovery thematic channels. It represents a major milestone in the companies’ international collaboration and strengthens content offerings across MultiChoice Group territories.
MultiChoice disclosed that this agreement builds on earlier partnerships concluded in Europe. “It builds on the landmark agreements concluded in France in 2024,including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films just six months after their theatrical release in France and the integration of HBO Max within select CANAL+ group offers – as well as in Poland in 2025, with the renewal of the distribution agreement for 22 thematic channels (including TVN 24 and Eurosport) and 4 free-to-air channels (including TVN).”
Under the renewed arrangement, MultiChoice Group will continue to distribute 12 Warner Bros. Discovery thematic channels across its territories, with some channels offered on an exclusive basis. CNN International and Cartoon Network will remain exclusive to South Africa while being distributed non-exclusively in other markets. Cartoon Network Porto will be exclusive in Angola and Mozambique and non-exclusive elsewhere. Other channels such as Discovery Channel, TLC, HGTV, Food Network, TNT Africa, Travel, ID and Cartoonito will be offered on a non-exclusive basis.
According to the partners, the deal reinforces CANAL+ Group’s channel portfolio on the continent. “This agreement enables CANAL+ Group to strengthen its entertainment, kids, news, and documentary channel offerings in African markets.”
The agreement is also expected to improve access for CANAL+ Group subscribers to Warner Bros. Discovery’s premium content through HBO Max and selected channels, including globally recognised series and films, further extending the studio’s international reach while consolidating MultiChoice’s content offering in key markets.
General News
Nigeria Police suspends tinted glass permit enforcement over court injunction

Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Tinted glass permit
The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.
An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.
Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.
The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.
IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.
General News
NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.
According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.
The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.
Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.
He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.
Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.
In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.
Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.
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