Author: Julius Alagbe

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…

Market Rates Rise as CBN FX Settlement Drags Liquidity The Central Bank of Nigeria (CBN) foreign exchange market intervention settlement nudged market rates higher to hover around 29% level in the money market. Short-term benchmark interest rates surged in the absence of supportive inflows, and banks with excess liquidity have begun to demand higher rates. The market has seen a surge in withdrawals from the CBN Standing Deposit Facility (SLF), which signals a return to a tight funding structure in the money market. The tight liquidity conditions in the money market effectively reversed recent past experience. As a result of…

Naira Rallies Market-Wide in Absence of FX Pressures The Nigerian local currency, the naira, appreciated at both the official window and parallel market to settle at N1,596 and N1,615.00, respectively. The exchange rate appreciated at the Nigeria foreign exchange market as foreign portfolio investors and exporters’ inflows lifted the liquidity level on the supply side. With minimal FX intervention sales by the Central Bank, the local currency has continued its all-week recalibration against the dominant US dollar. The interbank NFEM remained stable, underpinned by ample liquidity and a calm trading environment, according to analysts’ notes. The naira appreciated by 21…

Africa’s Debt Crises Require Urgent Reform—ECA The Executive Secretary of the UN Economic Commission for Africa (ECA), Mr Claver Gatete, says Africa’s public debt crisis is a deeper development crisis requiring urgent reform. Gatete said this in a statement on the commission’s website on Wednesday. He spoke in Lomé, Togo, at the inaugural African Union Debt Conference attended by over 500 delegates, including heads of state, finance ministers, central bank governors, and development partners. The three-day meeting, with the theme “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability”, was convened by the African Union Commission in partnership with…

120m Nigerians Now Captured in Database- NIMC DG The National Identity Management Commission (NIMC) says that no fewer than 120 million persons have so far been captured in the ongoing nationwide National Identity Number (NIN) enrollment since its inception. The Director General of NIMC, Mrs. Abisoye Coker-Odusote, disclosed this at a media conference on Wednesday in Abuja. She said the enrollment would still continue at both the rural and urban communities. “We have enrolled many Nigerians and still counting, so we are definitely going to continue to ensure that we enroll more Nigerians before the end of this year. ”…

Oando Jumps by 10% as Investors Take Fresh Positions Oando Plc’s market value soared by about 10% in the equities market amidst anticipated share distribution to shareholders. Data from the Nigerian Exchange showed that the going market rate is the highest Oando Plc has seen in the last seven trading sessions. The indigenous energy company stock, which was among the top performers in 2024, has seen significant sell pressures that plunged its market value down by half before its latest rally. Investors began to take positions in Oando amidst the anticipated earnings release. The company had told the Nigerian Exchange…

Naira Rises Against Dollar, Sterling, Euro in FX Market The naira rallied against the currency majors—the United States dollar, British sterling, and euro—at the Nigerian foreign exchange market, details obtained from the Central Bank spot FX data revealed. The local currency gained against the US dollar, closing at N1600.43 in the official market from the previous CBN spot FX quote of N1606. Spot FX data showed that the naira appreciated by N28 on the day against the euro to close at N1780 at the CBN window yesterday, from N1808. Also, the local currency strengthened against the British pound to close…