Author: Julius Alagbe

Equities Market Lost N557bn to Investors Profit-Taking Actions The Nigerian equities market weakened on Thursday, lost N557 billion on the day dut to profita taking activities of sell side investors in the local bourse. Trading data from the Nigerian Exchange (NGX) showed that all the sectoral indices went south as market anticipates release of fourth quarter of 2025 earnings, tagged as the next catalysts to drive re-rating. The NGX All-share index and market capitalisation declined by 0.52% to close at 165,397.4 points and N105.9 trillion, respectively. The session’s weak performance was largely driven by losses in INTBREW (-6.00%), WAPCO (-5.06%),…

M&A: Numbers of Banks in Nigeria to Shrink in 2026 —DataPro With the deadline for banking industry recapitalisation on the horizon, credit research agency DataPro has forecast a reduction in the number of banks. The firm noted that this impending deadline has initiated ‘war room’ conversations centered on executing deals and managing risks. While the top 5 big banks have successfully met their new capital base, a report released by the ratings agency suggests there are three tier-2 banks that may merge their operations—without mentioning their corporate identities. By the end of 2026, the Nigerian banking industry is expected to…

Nigeria to Become Net Urea, Fertiliser Exporter by 2028—NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Nigeria is positioned to become a net exporter of Urea and fertiliser by 2028. The authority’s Chief Executive, Mr Saidu Mohammed, disclosed this on Thursday during an operational tour of Indorama Eleme Petrochemicals Limited facilities in Eleme, Rivers. Mohammed said ongoing investments and expansions of critical assets would enable Nigeria to join the league of urea-exporting nations and emerge as a fertiliser production hub. According to him, the country is on the right path towards transforming its petroleum and manufacturing sectors…

The Central Bank of Nigeria (CBN) has again increased the spot rates on Nigerian Treasury bills with 91 and 182 days maturities at the main auction

Debt Office to Auction N900 Billion Reopened FGN Bonds The Debt Management Office (DMO) has announced a plan to auction N900 billion worth of reopened Federal Government of Nigeria (FGN) bonds at its monthly primary market auction next week. Inflation and liquidity level in the financial system are expected to dictate investors’ subscriptions, though spot rates adjustments top market expectations, investment analysts told MarketForces Africa. The DMO’s local borrowing is expected to increase in 2026 as the budget deficit surged, with some analysts thinking a Eurobond raise may be a tight and expensive move for the authority in the first…

African Eurobond Bearish Amidst Elevated U.S Treasury Yields African Eurobonds traded on a mildly bearish note amidst elevated U.S. Treasury yields as investors reassessed Fed easing timing.  Debt market analysts reported that profit-taking was evident across maturities as investors locked in gains amidst shifting global economic direction. Investors were mostly cautious as the market weighed potential trade disruption as the U.S. renewed its tariff threat against the European Union and the United Kingdom. To retaliate against U.S. pressure and tariffs, European officials plan to impose their own tariffs, a combative move that will lead to ‘sell America.’ There were signals…

Alleged Oceangate Fraud: Court Rules on EFCC’s Final Forfeiture Request The Federal High Court in Abuja, fixed March 25 for ruling on an application filed by Economic and Financial Crimes Commission (EFCC) for final forfeiture order on 13 million dollars linked to Aisha Achimugu’s Oceangate Engineering Oil & Gas Ltd. Justice Emeka Nwite fixed the date on Tuesday, after EFCC lawyer, Rotimi Oyedepo, SAN, and counsel for the company, Darlington Ozurumba, adopted their processes and presented their arguments for and against the case on Monday. Justice Nwite had, on Aug. 22, 2025, granted the anti-graft agency’s motion ex-parte for an…

Aradel, Zenith Bank Drive NGX Rally, Investors Gain N93.45bn Buying interest in Aradel Holdings, Zenith Bank, and others drove the Nigerian Exchange (NGX) uptrend on Tuesday. The stock market key performance indicators improved, though the market witnesses some portfolio adjustment in some overbought stocks. The market index climbed by 0.09% to close at 166,256.82 points, supported by some position taking in the banking, insurance and industrial indices. Stockbrokers reported that equities market capitalization increased by N93.48 billion to N106.44 trillion, with 39 gainers outpacing 25 losers. Today’s performance was buoyed by price upticks in ARADEL (+5.68%), MECURE (+6.45%), ZENITHBANK (+0.84%),…

Cryptos Fall as Leverage Traders Exit Positions Amid Gold Rally The market capitalisation of cryptocurrencies decreased by 2.51% to $3.07 trillion within the past 24 hours across various exchanges, as leveraged traders closed their positions during a surge in gold prices. Bitcoin price has plunged to $90k, losing more than 2.2% in the last 24 hours, and Ethereum is down by 3.51%, trading slightly above $3k on Tuesday. At the same time, other top cryptocurrencies are struggling to keep their position in strong volatile market development amidst U.S. actions that are changing world economic orders with President Donald Trump’s tariff…

Overnight Lending Rate Rises as Banks’ Lodgements Increase The overnight lending rate rose, but the repo rate was steadied in the money market amidst excess liquidity level in the banking system.  The absence of significant funding pressure kept money market rates movement in check. The market witnessed increased activities at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) window, with local banks surging lodgements at the 22.50% SDF rate. There was also additional inflow from primary market repayment ahead of the midweek auction on Wednesday, where the CBN will offer N1.15 trillion of treasury bills for subscription. System…