Author: Julius Alagbe

Investors Cash Out on Nigerian Bonds in Post-Auction Reaction Portfolio investors took profit on Nigerian government bonds in the secondary market in post-main auction reactions along with the monetary authority’s decision on interest rates. Ahead of the monetary policy committee decision, the Debt Management Office (DMO) has allotted approximately ₦583.52 billion across the 2030 and 2032 maturities at higher stop rates of 15.90% and 16.00%, respectively. MarketForces Africa reported that the Central Bank of Nigeria (CBN) kept the interest rate on Treasury bills unchanged even after the statistics office announced a sharp headline inflation rate decline to 16.05% from 18.02%.…

Naira Rises as Additional FX Inflow Boosts External Reserves The naira rose against the dollar at the official window on Tuesday as the Central Bank of Nigeria (CBN) recorded additional inflows into the nation’s external reserve. The market expects the naira to trade in line with the demand and supply level amidst robust external reserves to drive the monetary authority’s FX intervention sales. The Apex Bank FX data showed that the Naira appreciated by 52 basis points, or ₦7.53 to close at ₦1,446.3156 per dollar, having traded within a range of ₦1,455.00/$ and ₦1,441.00/$ during the session. The positive exchange…

16 Banks Successfully Recapitalised Ahead of Deadline – CBN The Central Bank of Nigeria (CBN) has announced that 16 banks have so far met the new capital requirements for their various licences, some four months before the March 31, 2026 deadline. The apex bank also indicated that 27 other banks have raised capital through various methods in one of the most extensive financial sector reforms since 2004. Addressing journalists yesterday at the end of the Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor Mr Olayemi Cardoso said the banking recapitalisation was going on orderly, consistent with the regulator’s expectations.…

Tax Reforms Will Eliminate Multiple Taxation – ACCI The Abuja Chamber of Commerce and Industry (ACCI) says the new tax reforms will eliminate multiple taxation and create a business-friendly and transparent revenue system to support growth and competitiveness. Chief Emeka Obegolu, ACCI President, communicated this at a high-level gathering for business leaders and experts on Tuesday in Abuja. The meeting, tagged: Abuja Business Tax Roundtable 2025, had the theme “Demystifying the New Tax Laws.” Obelogu said the ACCI collaborated with some relevant stakeholders to deepen understanding of the new tax reforms taking effect on Jan. 1, 2026. He said that…

CBN Policy Committee Keeps Benchmark Interest Rate at 27% The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) voted to keep the benchmark interest rate at 27% after the two-day meeting closed on Tuesday. Against Broadstreet analysts’ expectations, the monetary authority brushed off disinflation as a key reason to axe the interest rate, keeping the private sector guessing about its dovish signal. The authority cut the policy rate by 50 basis points in Oct after years of a hawkish pose. The committee vote to retain the Monetary Policy Rate at 27% and adjust the asymmetric corridor around…

US Dollar Inflow into Nigerian FX Market Sinks Further US dollar volume, or FX inflow, into the Nigerian currency market dropped further last week, down by about 24% to close at $512.20, according to an update released by Coronation Merchant Bank Limited. US dollar inflows into the official foreign exchange market have remained on the decline week on week as foreign portfolio investment and exporter’s flows weakened. Last week, FX inflows into the currency market fell by 24% and the same falling spree was recorded last week, a situation that weakened the naira exchange rate and forced the Central Bank…

OMO, Treasury Bills Yields Increase Ahead of Rate Decision The average yield on Nigerian Treasury bills printed at 16.96% in the secondary market as investors slowed down trading activities ahead of Broadstreet’s expectations of an interest rate adjustment. Nigerian OMO bills’ yield was well priced, higher at 21.5%, to retain foreign portfolio investors seeking alpha on naira assets. On Monday, OMO and Nigerian Treasury bill yields rose at the secondary market as investors’ appetite for the naira assets reduced as the market awaits the monetary policy committee (MPC) decision on interest rate. Transaction closed negative with soft selloffs seen at…

Conoil to Pay Shareholders N3.5 Final Dividend in Dec. Conoil Plc has moved to pay shareholders a final dividend of N3.50 in December, according to a regulatory filing on the Nigerian Exchange announcing its annual general meeting. According to details from the disclosure, Conoil annual shareholders meeting will be held on December 19 in Akwa Ibom, where the board will lay the financial year 2024 audited result before the owners of the company. The oil company said the amount will be paid to shareholders whose names appear in the register of members at the close of business in November 25.…

AI Has Potential to Boost Global Growth – IMF Boss Artificial Intelligence (AI) has the potential to boost productivity and economic growth, the International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, has said. Georgieva stated this in her remarks at the closing of the G20 Leaders’ Summit in Johannesburg, South Africa. She noted that slow productivity growth remained the main reason for slow global economic growth. “AI can reverse this trend. In our assessment, AI can deliver almost one per cent additional economic growth. This is remarkable,” she said. She said that AI was penetrating societies rapidly, with varying impacts…

Nigerian Bonds Rally Ahead of Debt Office Reopen Offers Nigerian bonds rallied in the secondary market as investors took positions ahead of the Debt Management Office (DMO) reopening 5- and 7-year papers on Monday. The DMO is set to conducted primary market auction today with N460 billion worth of local borrowing papers in offer across 5 and year reopened bonds. The market anticipates rates repricing on bonds in anticipation of the benchmark interest rate by the monetary policy committee of the Central Bank this week. Last week, the benchmark yield on Nigerian government bonds reduce by 9 basis points to…