Author: Julius Alagbe

Nigerian Bonds Yields Roll Down as Investors Lock Positions Nigerian bond yields rolled down across the curve due to sustained hunting for the naira assets amidst supply shortage expectations and spot rates repricing in the recent past auction. Investors have gotten a whiff about policy rate probability, and the fact that the Debt Management Office (DMO) borrowing has lessened compared to a similar period in 2024 has sent jitters across the fixed income market. The average yield on federal government of Nigeria bonds tracked lower in the secondary market ahead of inflation data release in the new week. The consumer…

Money Market Rates Spike as CBN Actions Squeeze Liquidity Central Bank of Nigeria (CBN) activities plunged the financial system’s liquidity into deficit, reflecting outflow for cash reserves, open market operations, and foreign exchange market intervention debits. The authority mopped up funds to a level that drained the money market funding flows and pushed rates higher, causing banks funding pressure to exacerbate. Hence, money market rates spiked above the 30% level as a result of a series of actions taken by the Apex Bank to manage liquidity levels in the financial system.  The banking system’s net liquidity fell by N393.69 billion,…

UBA Rewards Customers, Celebrates 10yrs Digital Partnership with VERiCASH Africa’s global bank, United Bank for Africa (UBA) Plc, is celebrating a decade of impactful digital transformation through its strategic partnership with leading fintech firm VERiCASH. The collaboration, which birthed the award-winning UBA Mobile App, has revolutionised digital banking across the continent, delivering seamless, secure, and user-friendly experiences to millions of customers. To commemorate this significant milestone, UBA is launching a special promo for its mobile app users as a way of appreciating their loyalty and sustained engagement. The promo is designed to reward customers for their continued trust in UBA’s…

Abia Govt, Firm Sign Agreement to Establish 20 Smart Schools The Abia Government has signed a Memorandum of Agreement (MoA) with Blue Giraffe Development Ltd. to establish 20 smart schools in the state. In a speech at the brief event in Umuahia on Saturday, the Commissioner for Basic and Secondary Education, Mr Goodluck Ubochi, described it as “a significant moment”. The smart school project, which promotes digital learning, features interactive learning systems, computerised boards, high-speed internet access and solar-powered electricity. The commissioner said that the MoA would create the enabling environment for the consultant to commence in full swing. He…

Nigeria’s Top 10 Insurance Companies Worth Climbs to N571bn The market value of Nigerian insurance companies in the stock market climbed by approximately N78 billion to N571 billion at the close of the trading session on Friday. The combined worth of these insurance companies reflects weak industry capitalisation and shallow depth in Africa’s largest, most populous economy. Market data revealed eight listed insurance stocks experienced price appreciations. Data from the Nigerian Exchange showed that the insurance index, which gained 3.75%, supported the momentum in the local bourse. Investors’ attentions were shifted toward some of the insurance players with potential for…

NEM Insurance Hits 52-Week on Rising Investors Confidence NEM Insurance Plc reached its highest market value in 52 weeks in the equities market as investor sentiment improved ahead of the half-year 2025 earnings release. The company’s market value surged by 22.22% week on week, reflecting investors improved sentiment and positioning ahead of the second quarter of 2025 earnings release. Trading data from the Nigerian Exchange indicated that the insurer’s share price climbed to N22 in the stock market on Friday as 2.272 million units valued at N48.570 million were transacted among stockholders. NEM Insurance’s share price opened the week at…

Ex-Gov Nyako, EFCC to Settle Alleged N29bn Fraud Suit Out of Court A former Governor of Adamawa State, retired Rear Adm. Muritala Nyako, has opted for an out of court settlement in a N29 billion alleged fraud. Nyako was arraigned by the Economic and Financial Crimes Commission (EFCC) in 2015. When the matter was called on Friday, the prosecuting counsel, Mr Rotimi Jacobs, SAN told the court that both parties were currently in discussions to ensure an amicable settlement of the case. According to Jacobs, by the next adjourned date, we should be able to resolve all the details of…

Naira Drops to N1530, CBN Injects Dollars to Ease Pressure Rising demand for foreign payments increased at the Nigeria Foreign Exchange Market (NFEM), leading to a decline in the naira’s exchange rate value against the US dollar. The most recent update on FX from the Central Bank of Nigeria (CBN) platform revealed a decline in the exchange rate to N1530.26 per US dollar at the official market, down from N1525 the day before. In two days, the exchange rate retreated by N10, reflecting rising demand for dollars for foreign payments, analysts said, noting a $50 million FX injection to ease…

Zenith Bank, UBA Sharp Intraday Rally Boost NGX Index The Nigerian Exchange (NGX) All Share Index is green during intraday trading hours over sharp bargain hunting in Zenith Bank, UBA, GTCO, and some tier 2 lenders on Friday. The local bourse has seen huge intraday gains on solid positioning across sectoral indexes that could possibly push the local bourse to N80 trillion market capitalisation. Based on the trading pattern, equities investors continue to show preference for banking names with heavy earnings capabilities. Telecom and other financial institution players are also gaining attention, supported by interest in Lafarge WAPCO and other…

Treasury Bills Market Rallies after N1trn Unallotted Bids The average yield on Nigerian Treasury bills shrank by an additional 27 basis points on sustained buying momentum in the secondary market after the main auction. The yield slumped as rejected subscriptions at the primary market auction flowed into the secondary market. The Central Bank of Nigeria (CBN) had floated N250 billion in Treasury bills for investors’ subscription. Reflecting strong appetite, investors staked more than N1.3 trillion on the offer, but the authority rejected the huge excess that ran over N1 trillion. Investors whose bids were rejected flocked to the secondary market…