Author: Julius Alagbe

Equities Investors Gain N310bn as NGX Index Climbs by 0.35% Equities investors gained N310 billion on Wednesday as trading activities on the Nigerian Exchange (NGX) platform rebound from previous selloffs. Due to bargain hunting on some bellwether companies, the Nigerian stock market grew by 0.35 per cent on Thursday, translating to a gain of N310 billion for investors. The positive performance was driven by increased bargain hunting and investors interest in stocks like: Chellaram, Austin Laz, The Initiate, Sovereign Trust Insurance, Aradel Holdings and 23 others. Specifically, market capitalisation, which opened at N89.555 trillion, added N310 billion to close at…

Nigeria Customs Reacts to Suspension of FOB Levy on Imports The Nigeria Customs Service (NCS) says it has begun consultation with the Ministry of Finance following a directive to suspend the implementation of the four per cent Fee On board (FOB) levy on imports. The service spokesman, Abdullahi Maiwada, made this known in a statement on Tuesday in Abuja. The service said that the move aims to seek guidance from its supervisory ministry on alternative measures to adopt during the suspension to ensure continuity of service delivery to all stakeholders. Maiwada reaffirmed the NCS’s commitment to supporting government fiscal policies…

Oil Prices Decline as G7, EU Move to Phase Out Russian Fuel Oil prices declined in the global commodity market on Wednesday as markets weighed the US Federal Reserve’s upcoming rate decision and risks to supply from the Russia-Ukraine war. Brent crude traded at $68.05 a barrel, down 0.2% from the previous close of $68.18. US benchmark West Texas Intermediate (WTI) slipped 0.01% to $64.08. The Fed is expected to cut rates by 25 basis points later Wednesday, with markets eyeing updated economic projections and Chair Jerome Powell’s comments for signals on the policy path. Analysts warned that while lower…

Investors Take Profit on Bonds as Real Interest Rate Hits 7.38% Investors with interest in Federal Government of Nigeria (FGN) bonds trimmed their portfolio holdings in the secondary market on Tuesday following a sharp decline in the headline inflation rate for August. Though real return on investment improved along with disinflation and the high interest rate environment, investors are jittery with analysts altering positions on the monetary policy rate outlook. The consumer price index data released showed inflation fell from 21.88% to 20.12%, widening the real interest rate to 7.38%, making the fixed coupon payments on the local bonds more…

CBN to Sell Treasury Bills Midweek, Rates Projected to Taper The Central Bank of Nigeria (CBN) is set to conduct its second Treasury Bills (T-Bills) auction for the month on Wednesday with the total offer size of ₦290 billion, split across three maturities. With disinflation, fixed income market analysts anticipate adjustment to spot rates amidst noticeable wide gap or spread between Treasury and OMO bills instruments. Inflation rate declined to 20.12% in August, leaving real interest rate at 7.38% due to 27.5% monetary policy rate. Amidst expectation of monetary easing, the CBN will open Nigerian Treasury bills with 91 days…

Naira Appreciates to N1484, Sees Stronger Intraday FX Quote The naira appreciated to N1484 at the Nigerian foreign exchange market (NFEM) after the spot rate broke psychological barrier at the beginning of the week. The local currency traded stronger at N1479 per dollar during intraday session before it eventually closed at N1485, according to FX update released by the Central Bank of Nigeria (CBN). The sustain exchange rate claw back at the official FX window has started to increased bullish predictions, couple with rising external reserves balance. The naira rally has been supported by broader pressures on U.S dollar index…

GTCO Climbs with Significant Block Trade Deals Amidst its earning delay, Guaranty Trust Holdings Company (GTCO) Plc market value climbed by 85 basis points to N3.460 trillion as the financial services group recorded significant off market shares transactions. The financial services company share price inched higher to N95 in a bid to recover from its latest sell pressures, from N94.20 at the beginning of the week. In the Nigerian Exchange trading platform, GTCO led the activity chart, accounting for 7.96% of the total volume of all trades transacted. Anchoria Securities Limited reported that several transactions totalling 30 million shares were…

New Prudential Limit: Ghanaian Banks Target Lower NPL Ratios Ghanaian banks’ non-performing loan (NPL) ratios are likely to decrease significantly in the next few years to comply with new Bank of Ghana (BoG) regulations effective from 2026. In a commentary note, Fitch ratings analyst expect the improvement will mostly be achieved through an acceleration in write-offs and stronger operating conditions. The BoG measures, announced in August 2025, will require regulated financial institutions, including banks, to maintain their NPL ratios below a 10% prudential limit. Banks with NPL ratios exceeding 15% will immediately be restricted from paying dividends and bonuses, while…

$200bn Export Market- Niteon Launches Neobank for African Manufacturers Niteon, one of Nigeria’s largest digital export marketplace, has announced the launch of Niteon Capital, the first neobank built specifically for African manufacturers. Founded by Nigerian entrepreneurs, Tony Nwose and Daniel Chukwuemelie, the US-based startup has already built a reputation for helping verified African manufacturers, spanning agriculture, fabrics and minerals products connect seamlessly to international buyers. With operational footprints in the US, UK, Canada, and South Asia, and a recent FDA Global Partner License unlocking export access to the United States, Niteon is already a formidable force in African digital trade,…

Nigerian Banks Race Against Time, Investor Cautious Amid Capital Raise Cautious optimism has been activated by investors trading highs and lows in the stock market as Nigerian banking sector stands at a critical inflexion point and awaits the release of the 2025 Q2 half-year results. Out of the thirteen banks listed on the Nigerian Exchange (NGX), only six have so far been certified to have met the stringent new capital requirements mandated by the Central Bank of Nigeria (CBN). The banks currently in compliance include Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, and Stanbic IBTC are now under…