Author: Olu Anisere

Bank of Ghana Cuts Interest Rate by 10% in 2025 Ghana has reduced its main interest rate by 10% since the beginning of 2025 as inflation moderated significantly as a result of better monetary policy direction versus most African countries, especially Nigeria. Inflation is damaging, but a high interest rate environment is more damaging, as there are levels of inflation that a country can accommodate with systematic monetary policy design. Last week, the Bank of Ghana (BOG) cut its main interest rate by 350 basis points to 18.00%, marking a cumulative 1,000 basis point reduction so far in 2025. According…

Naira Rises on External Reserves, FX Intervention Confidence The naira gained about N10 against the US dollar week-on-week at the official window, buoyed by improved foreign currency supply from Foreign Portfolio Investors (FPIs) who sold USD positions and intervention. The steady inflow of foreign funds and Central Bank of Nigeria (CBN) FX sales strengthened supply conditions across key benchmarks, resulting in naira appreciation as US dollar availability outpaced demand. NGNUSD traded with a noticeably firmer tone, holding a tight range around the mid-N1,440s as the sharp volatility of the previous week gave way to a more orderly market, Cowry Asset…

GTCO Delivers 52% Gain in 11-Month Amidst Earnings Pressure GTCO Plc added significant value to its shareholders with about a 52% year-to-date return on the initial share price at the beginning of 2025. The holding company’s share price reflects positive sentiment amidst unimpressive earnings performance in 2025. In November, equities analysts at Cordros Securities Limited lowered their earnings expectations for the group amidst tight regulation and margin-dilutive monetary policy, which is expected to be persistent due to expected disinflation. The orange-branded financial services group recorded many wins, including a foray into the London Stock Exchange, where it became a public…

Banks Reduce Interest in CBN Placement as SDF Rate Falls Deposit Money Banks (DMBs) have started to scale back placements with the Central Bank (CBN) Standing Deposit Facility (SDF) following an adjustment to the asymmetric corridor around the key interest rate. The monetary policy decision, reduction of the Standard Facility Corridor to +50/–450 basis points from the previous +250/–250 basis points, crashed money market rates. The readjustment in the asymmetric corridor reflects a subtle expansionary undertone. By making it less attractive for Banks to place excess liquidity with the Apex Bank, this move encourages funds flow into the private sector,…

Access Holdings to Raise N40bn in Private Placement Access Holdings Plc has revealed a plan to raise N40 billion via private placement, according to details from its emergency meeting notice sent to shareholders. The financial services group with shares outstanding totalling 53.317 billion valued at N1.119 trillion on the Nigerian Exchange (NGX) seeks to raise its capital. Details from its emergency shareholders meeting revealed that the group plans to increase its issued share capital from N26,658,919,216.50 to N27,646,573,537 by the creation and addition of 1,975,308,641 shares. That the Board of Directors seeks authorisation to allot the new ordinary shares created…

GCR Upgrades AIICO Insurance Financial Strength Ratings GCR Ratings has upgraded AIICO Insurance Plc’s international and national scale financial strength ratings to B and AA+(NG) from B- and AA(NG), respectively – both ratings were maintained on stable outlooks. The ratings upgrade reflects the sustained improvement in AIICO Insurance’s liquidity position, GCR said, supported by the substantial liquid assets relative to technical liabilities and short-term obligations. The ratings also balance the insurer’s strong competitive position, robust risk-adjusted capitalisation and its intermediate earnings assessment. “We consider AIICO Insurance the core operating entity within the wider AIICO group, comprising the insurer, AIICO Multishield…

Excess Liquidity Keeps Rates Steady, Banks’ Placements Surge In the money market, funding rates closed steady as market liquidity remained in excess despite outflow for Nigerian bonds settlement on Wednesday.  The financial system recorded a ₦583.52 billion bond auction settlement, which exerted mild pressure on system balances. The market liquidity opened the day with a surplus balance of ₦2.3 trillion, representing a marginal increase of ₦30.6 billion from the previous level, AIICO Capital said in a note. This improvement followed a rise in Deposit Money Banks’ (DMBs) placements at the Central Bank of Nigeria (CBN) Standard Deposit Facility (SDF) window.…

Central Bank Supports Naira with $36.6m FX Intervention The Central Bank of Nigeria (CBN) sold US dollars to authorised dealers and banks at the Nigerian foreign exchange market to boost forex supply.  The Apex Bank kept to its FX intervention policy to reduce pressures on the naira, selling $36.60 million to stabilise market demand Tuesday, according to updated FX data obtained. The latest FX injection came in addition to $40 million supplied last week. Official daily FX update showed the Naira appreciated by 23 basis points, or N3.40 to close at N1,442.9201/$ on Wed, trading within a range of N1,445.00/$…

Nasarawa: Sule Presents N517.5bn 2026 Budget Proposal to Assembly Gov. Abdullahi Sule of Nasarawa State, on Wednesday, presented a budget proposal of N517.5 billion for the 2026 fiscal year to the state House of Assembly for approval. Sule, while presenting the appropriation bill tagged “Budget of Strategic Consolidation” before the Assembly in Lafia, commended the legislature for their consistent support in passing appropriation bills. He explained that the theme of the 2026 budget was in line with his administration’s development agenda to consolidate on ongoing infrastructure projects, enhance connectivity and economic competitiveness among others. According to the governor, the sum…

Naira Climbs to N1,442/$ in Forex Market The naira climbed against the US dollar, trading at N1442 at the Nigerian foreign exchange market due to enhanced US dollar volume available for international payments. Analysts said the recent FX intervention sales by the Central Bank have strengthened forex market liquidity, with the local currency recording its third daily gain week to date. At the unofficial FX market, Bureau de Change (BDC) operators are seeing inflows from remittances to support market supply. The market-wide improved FX supply reduced stress on the naira, and the market reported inflows from international oil companies and…