Author: Julius Alagbe

Bonds Yield Drops as Investors Increase Bets on Naira Assets The Nigerian government bonds traded positively in the secondary market as the markets await the monetary policy committee of the Central Bank decision on the interest rate head of the fresh supply for September. Investors showed preference for local bonds across the JUN-32 (-59 bps), JUL-34 (-43 bps), JAN-35 (-34bps) and MAY-33 (-30bps) at the mid-segment (-22bps) of the yield curve. Overall, average yields declined by 10 basis points to print at 16.49%, suggesting government borrowing costs reduced while investors return eased. The improved macroeconomic indicators have been fuelling interest…

Investors Intensify T-Bills Hunting Ahead of Rate Decision Investors added more Nigerian Treasury bills to their respective portfolios via secondary market transactions ahead of the policy rate decision. There is a mixed expectation that the Central Bank of Nigeria (CBN) monetary policy committee might cut rate to fuel economic growth, an expectation driven by sustained disinflation. While inflation is on decline, benchmark interest rate has remained at double digit high of 27.50%- resulting to 7.38% real return on naira asset investments. Ahead of the final decision, on the Nigerian benchmark interest rate, which will also take into consideration the monetary…

Stanbic IBTC Profit Rises by 49%, Hikes Interim Dividend Stanbic IBTC Holdings Plc net income rose by 49% year on year to N173.43 billion in the first half of 2025, details from its audited financial statement posted on the Nigerian Exchange (NGX) revealed. Details from results released on Monday showed that Stanbic IBTC Group’s gross earnings increased by 35.20% to N516.634 billion, from N382.122 billion in the comparable period in 2024. Its profit before tax increased by 65.81% to N243.744 billion from N147.002 billion in the equivalent year in 2024. More than a 100% increase in the group’s tax charge…

CBN Exposes Dollar Accounts to Exchange Rate Risks The Central Bank of Nigeria’s (CBN) effort to realise the naira’s true value across the foreign exchange market has pitched dollar accounts against exchange rate risks. The naira has seen successive gains, and with rising external reserves, analysts said it is unlikely that the local currency will be become worse off versus the dollar in the currency market.  “With the Yemi Cardoso-led Central Bank maintaining its stance on FX intervention, keeping the US dollar that are unavailable for spending has become a risky adventure in Nigeria,” a Broadstreet banker told MarketForces Africa…

Airtel Africa Enters $20.3m Shares Repurchase Deal with Barclays Telecom company Airtel Africa Plc has disclosed it has entered revised arrangements with Barclays to facilitate the purchase of the remaining amount of up to $20.3 million. The share buyback programme is now anticipated to end on or before 31 March 2026. According to its official statement, Airtel Africa Plc said it has returned $34.7 million to shareholders through its share buyback programme. In a notice, the telecom company told the Nigerian Exchange that the amount has been returned to its shareholders through 14.2 million repurchased. Airtel Africa had earlier announced…

Top Cryptocurrencies Fall on Fed Rates Cut Portfolio Adjustments Bitcoin and other top cryptocurrencies, including Ethereum, XRP, Solana, and others, were trading negative on Monday as crypto investors unwound some bullish bets made after last week’s Federal Reserve interest-rate cut. At the press time, Cardano is tracking lower, BNB has shed weight, and USDT and Dogecoin have plummeted as investors’ mood switched in the process of reassessing the Fed rate cut on portfolio building. With sell pressures, market cap of all listed cryptocurrencies fell by 3.44% in the last 24 hours to a market cap of $3.89 trillion, according to…

Nigeria’s Eurobond Yield Rises as African Issuers Face Sell Pressure Foreign portfolio investors (FPIs) trimmed Nigeria’s Eurobonds holdings as the recent United States Federal Reserve interest rate cut signals possible global monetary easing. The average yield increased as sell pressures caused Eurobonds price declines across maturities, a similar experience that faced other oil rich African issuers. Ghana, Angola and other African issuers saw a spike in their sovereign Eurobonds yield as market begin to weigh the impacts of monetary easing drive on portfolio constructions . The tone in the Eurobonds market was more reactive, as a wave of sell-offs swept…

SanlamAllianz Re Appoints Tobias Suek as New CEO SanlamAllianz Re, the reinsurance arm of SanlamAllianz, today announced the appointment of Tobias Suek as its new Chief Executive Officer effective 15 October 2025, subject to regulatory approval. Tobias joins SanlamAllianz Re with more than 18 years of experience in the insurance and reinsurance sectors, with a career distinguished by his strategic leadership and commitment to innovative solutions. As a dual citizen of Germany and France, he has a strong international background that will be invaluable to the company. Since joining Allianz in 2007, Tobias has held various key positions, most recently…

Guinness Nigeria Hits 52-Week High as Investors Sentiment Rises Guinness Nigeria Plc’s stock market value increased by about 29% as investors increased their interest in the brewer company in anticipation of a stronger future earnings stream. The company trading in the consumer goods category on the exchange recorded a successive price uptick that started on Tuesday and closed on Friday, reflecting investors’ positive sentiment. According to data from the Nigerian Exchange (NGX), Guinness Nigeria Plc’s share price rose to N183.90 on Friday, driven by higher buy volume. The latest share price level marks its highest value in 52 weeks versus…

Interest Rate: CBN Anticipates to Prioritise Growth with 50bps Cut Analysts anticipate that the Central Bank of Nigeria (CBN) will prioritise economic growth over price stability with a 50 basis point reduction in benchmark interest as the monetary policy committee (MPC) is scheduled to meet this week. Consensus on rates direction is mixed, with deliberations taking place in an environment of easing inflation, a firmer Naira, and a shifting global policy landscape where the U.S. Inflation is declining, and the naira has maintained an uptrend against the US dollar due to foreign investors’ confidence in the economy and financial market.…