Author: Julius Alagbe

CBN Raises N2.7trn from OMO Bills, Rates Still Look Good The Central Bank of Nigeria (CBN) allotted N2.71 trillion worth of OMO bills to investors at the first open market operation conducted in 2026. The huge allotment signals that the CBN will be more aggressive in its primary market actions with increasing demand for short-term borrowing from the Nigerian government to patch the income gap. The authority floated OMO bills for subscription, sought to raise N600 billion from foreign portfolio investors (FPIs) and Deposit Money Banks, the core active players at the space. The offer size of N600.0 billion was…

NAHCO Secures Fresh, Renewed Ground Handling Contracts The Nigerian Aviation Handling Company Plc (NAHCO Aviance) has confirmed signing fresh and renewed contracts for the provision of comprehensive ground handling services. The disclosure is contained in a statement issued on Tuesday in Lagos by Mr Tayo Ajajaye, Assistant General Manager, Corporate Communications, NAHCO Plc. According to Ajajaye, NAHCO renewed contracts with Air France, KLM, Virgin Atlantic and RwandAir for the continued provision of ground handling services. It also signed fresh contracts with United Nigeria Airlines for regional operations, as well as Bellagio and Malaikair. The renewed Air France and KLM contracts…

Ghana’s Private Sector Health Improves on Disinflation Advantage With a sustained decline in headline inflation, private sector activity improved further in December, according to the Standard & Poor’s Purchasing Manager Index (PMI) released today. S&P noted that business activity returned to growth in December as new orders continued to rise. In turn, companies increased their purchasing activity and employment, while remaining strongly optimistic that output will expand further over the course of 2026. It said firms continued to benefit from a lack of inflationary pressure, with both input costs and output prices down again in December. The S&P Global Ghana…

EUR Weakens After European Inflation Data, DYX Index Rebounds The euro (EURUSD) weakened against the US dollar at the forex market on Tuesday, trading at $1.17, after European inflation data suggested easing price pressures. The market has begun to factor in uncertainties over the European Central Bank rates adjustment in 2026. The US dollar rebounded against its trading pairs on hope that Federal Reserve rate cuts remain uncertain. The markets expect the Federal Reserve will maintain a neutral interest rate stance at its next two monetary policy meetings, scheduled for January 28, 2026, and March 18. FX data showed that…

Oil Prices Drop on Expected Crude Supply Boost Oil prices dropped in the global markets on Tuesday as U.S. talks with American oil companies on Venezuela fuelled expectations that additional crude supply could return to global markets. Brent crude traded at $61.50 per barrel, down 0.30% from Monday’s close of $61.70. US benchmark West Texas Intermediate (WTI) was at $57.99 per barrel, down around 0.33% compared to $58.13. A senior White House official told Anadolu Agency that correspondence with companies has started and will continue, adding that US Energy Secretary Chris Wright and Secretary of State Marco Rubio will lead…

LOTUS Bank Names Ajani-Lawal Chief Executive Officer LOTUS Bank, one of the leading non-interest banks in the country, has appointed Dr Isiaka Ajani-Lawal as its Managing Director/Chief Executive Officer, effective from December 2025. Its Board Chairperson, Mrs Hajara Adeola, announced the leadership transition in the bank in a statement on Tuesday in Abuja. She said that Ajani-Lawal’s appointment was sequel to the retirement of the bank’s founding Managing Director/Chief Executive Officer, Mrs Kafilat Araoye, from office. The development, she said, marked the conclusion of Araoye’s distinguished tenure characterised by an impressive performance scorecard. She explained that Araoye, who was appointed…

U.S.-Headquartered Companies Exempted from Biden Global Tax Plan The U.S. Treasury has secured an agreement to exempt U.S.-headquartered companies from the American former President Joe Biden’s global tax plan. The OECD announced that nearly 150 countries have agreed on the plan, initially crafted in 2021, to stop large global companies from shifting profits to low-tax countries, no matter where they operate in the world. The amended version excludes large U.S.-based multinational corporations from the 15% global minimum tax after negotiations between President Donald Trump’s administration and other members of the Group of Seven wealthy nations. In a statement, U.S. Secretary…

Nigerian Bonds Yield Rises as Investors Book Profit The average yield on Nigerian government bonds rose in the secondary market as trading actions suggest waning investors appetite. Trading activities was subdued with pocket of transactions observed in the short duration amidst expectation of huge local borrowing in 2026. The Debt Management Office is anticipated to release its Q1 auction calendar as part of a move to finance Nigeria’s expanding budget deficit as a result of an unimpressive fiscal performance. At the last monthly auction in December, the Debt Office reprised rates on 5-and 7-year reopened local bonds despite disinflation signal…

Short-Term Rates Ease on Excess Liquidity in Banking System The short term benchmark interest rates eased as money market remained flooded with excess liqudity, reflecting absence of funding pressures. The money market has seen tight movement in short terms rates due to sufficient funding in the financial system since the last lap of year 2025. In an attempt to make their money work, deposit money banks have been staking bets on placements at the Central Bank standing despoit facility. This market action has continued into the new year as system liquidity opened the first full week of  the year with…

Treasury Bills Investors Step Up Buying Action Ahead of Q1 Auction The Nigerian Treasury market rallied as investors began to build portfolio amidst changing macroeconomic indicators and hope that the monetary easing will begin in 2026. Inflation rate has been on decline but policy rate stayed in double digit high of 27%, widening real return on investment. The Apex Bank, has, surprisingly being offering premium on risk free short term investment securities. The trend is projected to persist as the authority continue to attract local and foreign portfolio investors into the financial market. In the secondary market on Monday, trading…