Author: Julius Alagbe

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…

Money Market Rates Ease as Foreign Inflow Boost Liquidity Money market rates moderated as inflows from foreign portfolio investors (FPIs) cushioned the impact of the N1.2 trillion OMO auction settlement. The financial system liquidity opened at N199.60 billion, representing a decline of 28% on the day from N278.74 billion brought forward. Offshore investors that brought hard currency into the market and additional inflows from Treasury bill maturities net off from midweek primary market helped the funding profile to reflate after the cash reserves debited against banks in the recent past week. The liquidity level increased following additional inflows of N140…

CBN Cuts Treasury Bills Rates Sharply, Rejects N1trn Subscription The Central Bank of Nigeria (CBN) has slashed spot rates on Nigerian Treasury bills across standard maturities to sizes, reflecting a shift away from previous trends. At the primary auction, the Debt Management Office (DMO), on behalf of the monetary policy authority, offered ₦250 billion across 91-day, 182-day, and 364-day tenors. Demand was strong, with ₦1.329 trillion in bids recorded as investors showed preference for duration. Despite the huge subscription level, the DMO allotted Treasury bills worth ₦201.817 billion to investors. The CBN offered N100 billion worth of Nigerian Treasury bills…

CBN Sells N1.25trn OMO Bills at Reduced Interest Rate The Central Bank of Nigeria (CBN) floated a primary market auction on Wednesday where it allotted OMO bills worth N1.25 trillion to successful investors, foreign and local, at a lower interest rate of 21.99%. As part of an effort to manage excess liquidity in the financial system, the CBN offered investors the opportunity to pile up cash on N600 billion worth of OMO bills. via competitive bids. Details of CBN open market operations showed that the authority opened an offer for 272-day maturity bills worth N300 billion and 363-day maturity bills…

Bitcoin Slips in Attempt to Break $110k, Ethereum High on Rally Bitcoin (BTC-USD) pulled back in the global cryptocurrency market amidst a fresh attempt to break $110,000 resistance on Wednesday. Retail investors sideways trading activities have continued to fuel price fluctuations across crypto exchanges. Data showed that Bitcoin was trading in the $109,000 range on Wednesday with a mild pullback below the current price level in the last 24 hours. In a surprise turn of events, Ethereum (ETH-USD) has finally pushed above the critical $2,600 level after weeks of range-bound trading, marking a potential turning point in its price structure.…

NGX Expands to N77trn as Equities Investors Gain N212bn The Nigerian Exchange (NGX) expanded to approximately N77 trillion on Wednesday as equities investors gained about N212 billion as bargain hunting persisted for six days straight. Key performance indicators surged by 28 basis points as the local bourse extended its bullish momentum. Year-to-date return inched higher to 18.5% following six consecutive upswings. A number of stockbrokers explained that the sustained rally was largely driven by strong buying interest across stocks in the major market sectors, particularly the financial and industrial sectors. The market index increased by 335.74 basis points to close…