Author: Julius Alagbe

MTN, Transcorp Hotels Trigger Intraday Loss in Stock Market Equities investors exiting positions in MTN Nigeria, Transcorp Hotels, and banking stocks are currently dragging the Nigerian Exchange (NGX) All-Share Index lower, according to intraday trading data. Trading details revealed that Transcorp Hotels has already lost its maximum allowable daily price limit of 10% due to sell pressures. The stock had blazed through a series of 52-week highs as investors anticipated better earnings in the second quarter of 2025. Wema Bank’s share price was N3.55 above its rights offer, which is expected to close this week. But sell-side actor weak sentiment…

Rates Swing as Banks Take Out N1.4trn from CBN Facility The short-term benchmark interest rates climbed, albeit slowly, in the money market as the amount of liquidity in the financial system depressed further. Extending the previous week’s tight funding profile, the banking system experienced a funding shortfall that kept the liquidity level in negative note in the money market. Afrinvest Limited said in an update that this shortfall was largely driven by N1.4 trillion ejection through the standing deposit facility of the Central Bank of Nigeria. Some market analysts highlighted that interbank market rates fluctuated last week but eased on…

Naira Strengthens as Corporate Demand for Dollar Reduces Boosted by lower corporate FX demand, the Nigerian naira reclaimed value against the dominant currency, the US dollar, as the spot rate closed at N1598.72 per greenback at the official FX market. The naira opened the week at N1606.15 at the Central Bank of Nigeria (CBN) official FX market but ended the week at N1598.72 at the end of the trading session on Friday. Data revealed that the naira exchange rate has stabilised around N1600 as the CBN continued to intervene in the currency market heavily.  Foreign investor flows and reduced corporate…

Oando Soars Amidst Earnings Anticipation, Oil Spill Notice Indigenous energy company Oando Plc’s market value soared by about 21% on the Nigerian Exchange (NGX) in a fresh rally, reversing sell pressure experienced in the local bourse. In an action propelled by positive sentiment on the indigenous energy stock, investors were seen taking positions in Oando shares in anticipation of the company’s earnings release. Sell pressure on the oil-price-linked energy stocks appears to have reduced. Last week, Oando dropped a hint that the energy company recorded four oil spills between Oct 2024 to date and hinted that it has completed damaged…

Beta Glass Courts Investors’ Attention with Sky High Q1 EPS Frigoglass-backed company Beta Glass Plc. has continued to blaze through strings of 52-week highs at the Nigerian stock market after a solid performance in the first quarter of 2025. The glass producer grew earnings per share (EPS) by 594% year-on-year in the first quarter of 2025 to N16.66 from N2.40 in the comparable period in 2024. Its bottom line strengthened as the company’s net sales increased by 69% year-on-year to N41.164 billion in Q1-2025 from N24.309 billion in Q1-2024. According to trading data on the Nigerian Exchange platform, Beta Glass…

US Plan to Tax Remittances Will Impact Nigeria FX Inflow—Note Investment, CSL Stockbrokers Limited, has said that the United States (U.S.) plan to apply tax to remittances could weaken Nigeria’s FX inflows if passed. US lawmakers have proposed a bill that aims to impose a 5% tax on all remittances sent from US residents to recipients abroad as part of efforts to improve fiscal revenues. The new legislation could have far-reaching implications for emerging markets, particularly those that rely heavily on remittance inflows to bolster foreign exchange reserves and support currency stability, CSL Stockbrokers Limited said in a commentary note.…

Interbank Rates Ease as Bond Coupon Payment Boosts Liquidity Interbank rates eased sharply as inflows from Federal Government of Nigerian (FGN) bond coupon payments lifted liquidity levels in the financial system. Reversing the previous trend, the money market actors have seen strong withdrawal from the Central Bank of Nigeria (CBN) standing deposit facility this week. In the absence of substantial inflow that could match the related outflows, rates had surged near 29%. The CBN has been debiting banks for US dollars sold as part of forex market intervention sales, though there have been no primary market auctions that could pose…

How to Start Investing in Stocks with N10,000 What will happen to you if you lose N10,000? In the stock market journey, you may not come back with N10,000—it may be less or more, or you may have nothing. But you have something once you try—financial education in a much more practical way. Some Nigerians believe stocks trading isn’t going to solve their financial problems despite having near zero alternatives apart from get-rich-quick ideas. Years later, their financial needs have remained unresolved—it got worse. Investing is the cerebral game that wealthy people always play. And guess what, their children often…

Oil Prices Decrease on US-Iran Nuclear Deal Optimism Oil prices decreased on Thursday amid an unexpected increase in US crude oil inventories, the world’s largest oil consumer, and nuclear negotiations between the US and Iran. Reports showed that the US favour an oil price between the range of $40 and $40-$50 and lower interest rates. Energy costs remained elevated since several sanctions on Russia tightened supply in the global commodity market, with additional pressures from unrest in the Middle East. But a slowdown in China’s economic performance has also impacted demand. International benchmark Brent crude decreased by around 2.4%, trading…

Harvard President to Take 25% Pay Cut Harvard president Alan Garber will take a voluntary 25% pay cut, as the elite university faces mounting federal funding reductions under U.S President Donald Trump’s administration. U.S media reported on Thursday, citing the university. The salary cut is set to take effect at the start of the new fiscal year on July 1. Harvard presidents typically earn upward of 1 million dollars annually. Harvard spokesman Jonathan L. Swain was quoted by several U.S. media outlets as saying that other Harvard leaders had also volunteered to accept changes to their pay. The Trump administration…