Author: Julius Alagbe

Investors Cash Out in Nigerian Bonds Market after Rate Cut Fixed interest securities investors booked profit on Nigerian government bonds in reaction to reduction in benchmark interest rate at the end of policy committee meeting on Tuesday. Traders spotted selloffs activities at the short, and belly of the local bonds tenors as market analysts foresee potential reduction in spot rate ahead of Debt Management Office primary market auction. The first rate cut in 2025, which mirrored U.S Federal Reserve policy decision, suggests the authorities might have final switched position to dovish stance to allow private sector driven economic growth. In…

Euro Declines Amidst German Weak Economic Data The euro weakened toward $1.178, retreating from a four-year high of $1.192 touched on September 17, after weaker-than-expected German sentiment weighed on the currency. Germany’s Ifo Business Climate Index fell to 87.8 in September from 88.9, with Current Situation Index slipping from 86.4 to 85.7 and Expectations falling from 91.4 to 89.7. The institute said prospects for recovery have “suffered a setback”. By sector, weakness was broad-based. Manufacturing sentiment dropped further, with companies reporting weaker orders and fading optimism among capital goods producers. Services took the hardest hit, plunging to -3.0, the lowest…

UK Building Society Profitability Weighed by Competition, Lower Rates –Fitch UK building societies’ profitability will weaken in 2025 due to increased competition, lower interest rates and higher savings costs, Fitch Ratings says, following its affirmation of the Long-Term Issuer Default Ratings of five UK building societies. However, Fitch expect adequate profitability, supported by very low loan impairment charges, reasonable cost control and modest structural hedging income. It said the ratings of Coventry Building Society, Leeds Building Society, Skipton Building Society and Yorkshire Building Society (all A-) and Principality Building Society (BBB+), all with Stable Outlooks, reflect their stable and low-risk…

Liquidity: Interbank Rates Dip Below 25% after MPR Corridor Adjustment Interbank rates declined below 25% as robust liquidity levels in the financial system reduced pressure on funding costs, reflecting absence of the Central Bank open market operation. In the recent past week, the authority has allowed inflows from OMO bill repayments to flood the financial system, and this has strengthened the funding position in the money market. Local deposit money banks have continued to sterilse excess funds via placement with the CBN, earning a return that is currently above the rate on Nigerian Treasury bills. Supported by fresh inflows, the…

MTN Nigeria Slides Amidst Negotiated Block Trade Telecommunication Company MTN Nigeria Plc’s market value fell below N9 trillion in the equity market after investors consummated huge negotiated block transactions. Trading data from the Nigerian Exchange (NGX) showed that the telecom company’s share price fell by 4.8% as 5.252 million units valued at N2.127 billion were executed in the market, including off-market transactions. A transaction involving 17 million shares was executed at ₦414.10 per share, Anchoria Securities Limited told investors in a note, amounting to a trade value of ₦425 million. The huge trading volume executed reduced the market value of…

First Holdco Sees Soft Rally Amidst Huge Block Trade First Holdco Plc market value increased in the equity market amidst significant trading volume executed by its shareholders. The soft rally came amidst block trade activities on the stocks. Several transactions involving 40 million shares were executed at ₦30.65 – ₦31.00 per share, amounting to a trade value of ₦1.24 billion on Wednesday, Anchoria Securities Limited told investors in a note. Market value of the financial services group climbed to N1.298 trillion as 41.109 million units of First Holdco valued at N1.422 billion were traded in the local bourse. The significant…

Reps Speaker Inaugurates Committee to Oversee Naira-for-Crude Oil Policy The Speaker of the House of Representatives, Rep. Tajudeen Abba, on Wednesday inaugurated an Ad hoc committee to oversee the implementation of the Naira-for-Crude Oil policy of the Federal Government. Speaking at the ceremony, Tajudeen said that the inauguration marked a critical step towards ensuring transparency, accountability, and efficiency in one of the most critical policy initiatives in the energy sector. He said that the committee had been entrusted with the important task of investigating the implementation, effectiveness, and inter-agency coordination of the Naira-for-Crude Oil policy. The speaker said that the…

CBN Sells $52m to Banks to Maintain Exchange Rate Stability The Central Bank of Nigeria (CBN) sold $52 million to authorised dealer banks in the foreign exchange market to maintain exchange rate stability. Spot FX data movement showed that the exchange rate appreciated as the FX intervention from the authority strengthen US dollar volume availability at the supply side. The authority FX intervention worth $52.00 million was executed between N1,482.55/$ and N1,486.10 per dollar, according to an update from analysts at AIICO Capital Limited. The naira appreciated 8bps to close at ₦1,487.3651, driven by lower demand and inflow from exports.…

Federal Revenue by 411% to N3.64trn  in September –FIRS Federal Inland Revenue Service (FIRS) Chairman ‎Dr Zacch Adedeji has credited Nigeria’s record revenue growth to bold fiscal reforms introduced by President Bola Tinubu’s administration. Adedeji revealed that federal revenue reached N3.64 trillion in September 2025, a 411 per cent increase from N711 billion recorded in May 2023. Speaking with State House correspondents in Abuja, he outlined milestones reshaping Nigeria’s fiscal landscape, particularly the growth of non-oil revenue streams. He noted that non-oil revenue grew sharply from N151 billion to N1.06 trillion in two years, marking a major shift in Nigeria’s…

Access Holdings Falls as Investors React to Update on Earnings Access Holdings Plc lost about 5% of its market value as investors reacted negatively to management’s request for an extension in the publication of the first-half earnings result. Data from the Nigerian Exchange (NGX) revealed that the Ticker: ACCESSCORP N24.80 as 19.769 million units valued at N495.253 million on Tuesday, driven by sell side investors. The sell pressure dragged market value of Access Holdings down by 4.98% to N1.322 trillion, 14.33% below its highest valuation in 52-week. Reflecting its volatility, Access Holdings share price movement has been trading within the…