Author: Julius Alagbe

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…

Nigeria’s Gross External Reserves Climb to $41.7bn –CBN Data Nigeria’s gross external reserves surged further to $41.698 billion, according to updated FX data released by the Central Bank, with data from the commodity market showing Bonny surged to $68.56 per barrel. The country’s foreign reserves maintained an uptrend amidst intermittent US dollar sales to authorised dealers and banks to support the naira at the official currency market. The gross balance of this amount was last seen in May 2021, according to data obtained from the Apex Bank. The economy has seen successive inflows from exporters and remittances from abroad. Analysts…

Naira Breaks Psychological Barrier, Trades Below N1500/USD The naira has successfully broken a new psychological barrier in FX market, closing below N1500 per US dollar at the Nigerian Foreign Exchange Market (NFEM). The local currency has continued to claw back against the US dollar due to sufficient US dollar liquidity in the forex market. Official spot rate touched intraday low of N1493 per dollar, according to FX update from the Central Bank of Nigeria (CBN) platform on Monday. Some corporate transactions were closed at intraday high of N1502 per dollar. Inflows from exporters, foreign portfolio investors who are ready to…

Nigerian Exchange ASI Climbs on Soft Intraday Rally The Nigerian Exchange (NGX) All-share index (ASI) climbed on the back of a soft intraday rally on Monday. The local stock market posted huge gain last week despite last minute profit taking activities on some stocks. Investors have beginning to return to their positions and stockbrokers anticipate the Nigerian Index will likely break the next psychological barriers when Tier-1 banks release their earnings scorecard for first half. Meanwhile, stock analysts said the stock market direction will be influenced by the release of Nigeria’s inflation data for August. By consensus, consumer price index…

Nigeria Eurobonds Yield Tracks Below 8% on Bargain Hunting Foreign portfolio investors (FPIs) ramped up Nigeria’s sovereign U.S. dollar-denominated bonds at the international market amidst Federal Reserve rates cut expectations. Last week, the Nigerian sovereign Eurobond segment closed the week on a positive note, buoyed by strong investor sentiment across the curve. The Nigeria US dollar priced bonds offer approximately eight percent return per annum on investment ahead of inflation data release on Monday. The amount is twice the yield on 10-year U.S Treasury note, similar to other African issuers Eurobonds papers. Investment banking firm Cowry Asset Limited told investor…