- Bonds Yields Ease, Investors Boost Holdings as Real Return Climbs
- Yields Ease as Investors Rotate Capital into Treasury Bills
- Reps Probe Mining Marshals Over N2bn Allegation
- Wall Street Bets Drive Crypto Market Shift, Tokenisation Opens New Frontier
- XRP Investors Positive on ETF Momentum, Ripple Deals
- Bitcoin ETFs Attract Fresh Investor Funds, Institutional Demand Rebounds
- TotalEnergies Boosts Interim Dividends to €0.90, Extends Share Buyback
- Interbank Funding Rates Diverge on Surplus Financial System Liquidity
Author: Julius Alagbe
Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.
Nigerian Treasury, OMO Bills Rally, Yields Shrink The Nigerian Treasury and OMO bills rallied in the secondary market, causing a shift in the yield curve amidst fresh open market operations (OMO) auction offers by the Central Bank. The CBN was in the market to mop up N600 billion across two mid-tenor offers. Subscription was heavy as banks and foreign portfolio investors parked huge amounts into the open market operation instrument. The Debt Management Office was also in the market to raise N300 billion from two reopening bonds maturing in 2029 and 2033. Amidst tepid subscription levels, the authority cut rates…
CBN Allots Fresh OMO Bills to Banks, Foreign Investors Nigeria’s Central Bank (CBN) issued a huge amount of an open market operations (OMO) bills to local and foreign portfolio investors at the primary market auction conducted on Monday. The auction was announced to redirect rates and liquidity movement in the money market on fear that N984.22 billion in inflows from maturing OMO bills on Tuesday would trigger excess cash in the banking system. The Apex Bank opened ₦600 billion worth of OMO bills to eligible market participants—banks and foreign portfolio investors. The auction was well received ahead of fresh maturities…
Naira Rallies as Exporters Flood Forex Market with Dollars The naira rallied against the US dollar in the official forex market as data revealed that exporters’ inflows drove liquidity. FX spot data from the Central Bank showed the exchange rate closed at N1579.40 at the Nigerian foreign exchange market, from N1580.44. The local currency experienced an all week rally against the greenback last week, supported by $190 million in FX intervention sales. Hence, the naira appreciated for the second consecutive week in a row, gaining 1.14% against the US dollar in the official spot market, closing at N1,580.44. Foreign investors’…
Airtel Flags 9.6m Potential Spam Messages in Two Months Airtel Nigeria, a telecommunications service provider, says that its AI-powered Spam Alert Service has issued over 9.6 million spam alerts between March 13 and May 20, 2025. Airtel Nigeria said this in a statement on Monday in Lagos. It said that as part of its ongoing commitment to protecting customers from unwanted and potentially fraudulent communications, Airtel designed the AI Spam Alert service to analyse traffic patterns and detect anomalies. It noted that the AI had identified 9,667,008 SMS as potential spam messages in the two months of its launch. According…
Excess Banking System Liquidity Lower Funding Rates Funding rates eased in the absence of pressures in the money market due to sufficient liquidity levels in the financial system. Banks with liquidity deficiency were able to access funding from the Apex Bank borrowing window, while cash-rich local lenders sterilised funds at the deposit facility. In spite of the mixed activities, the interbank liquidity remained ample and largely stable, and the market anticipates rates will ease in the new week, barring the Central Bank’s liquidity mop-up actions. Briefly, the banking system’s liquidity tightened as there was a substantial outflow of ₦2.5 trillion…
FirstHoldco Reaches N1.05trn Amidst Low Dividend Payment FirstHoldco Plc’s market value reached N1.051 trillion as shareholders approved the payment of a 60 kobo dividend per share for 2024 – the lowest among its immediate rivals in the tier-1 banking category. The bank shareholders approved 60 kobo per share at the annual general meeting last week on a stock price of N25.1, an amount that is the lowest offer compared with GTCO, Zenith Bank, and other rivals. Its chairman, Femi Otedola, announced that personal investment in the holdings has reached N320 billion – a company that is worth N1.05 trillion in…
Nigeria’s Top 5 Banks Market Value Falls Below N8 Trillion The combined market value of Nigeria’s top five big banks fell below N8 trillion in the stock market due to profit-taking activities that dragged the index lower last week. The top lenders’ combined equities market capitalisation settled at N7.952 trillion on Friday, trading data from the Nigerian Exchange (NGX) revealed. According to data obtained from the local bourse, the tier-1 bank category lost more than N86 billion as three out of five member banks experienced sell pressures. These banks reported strong earnings performance in the first quarter of 2025, except…
Naira Strengthens on FX Intervention, Dealing Banks Get $190m The Nigerian naira rose against the US dollar in the official window as the Central Bank strengthened market supply with FX intervention sales to authorised dealer deposit money banks. The exchange rate closed at N1580 in the official window of the Central Bank of Nigeria in an all-week positive movement supported by sufficient dollar supply. Hence, the naira appreciated by 1.14% to close at N1,580.44 per dollar amid improved supply and steady market activity. Early in the week, the CBN intervened with a total of $190.4 million, Lagos-based investment firm AIICO…
MTN Nigeria Sheds N168bn amidst Offshore Investors Dealings Telecommunication company MTN Nigeria Plc.’s market value declined by about N168 billion in the equities segment of the Nigerian Exchange (NGX) amidst buckets of buy ratings from equities analysts. The telecom company’s share price declined by less than 3% to close at N270 on Friday as investors traded 15.872 million units valued at N4.298 billion in the market. Due to activities of sell-side actors in the local bourse, MTN Nigeria’s share price declined by N8 week on week, having opened at N278 at the beginning of the trading sessions last week. According…
Dangote Cement Valued at N7.4trn Ahead of N30 Dividend Payment Dangote Cement Plc market value steadied at N7.424 trillion in the equities market ahead of June 23 dividend payment, details from the Nigerian Exchange (NGX) rtrading platform evealed. The cement company said in a regulatory filing that “if shareholders at annual general meeting approved the dividend recommended by the directors, dividends will be paid on June 23, 2025”. The cement company’s board of directors proposed to pay shareholders N30 per share as dividend for 2024 earnings performance. The huge part of the total dividend proposed will be paid to Dangote…