Author: Olu Anisere

Naira Climbs to N1,419 Per Dollar as Foreign Reserves Surge The naira rose against the US dollar at the official window on Tuesday, settling at N1,419.66 per dollar, according to forex market data released by the Central Bank of Nigeria (CBN). In the absence of liquidity pressures, the spot fx rate traded between N1,418 and N1,424 per dollar at the Nigeria foreign exchange market, the CBN reported. FX liquidity was bolstered by $50 million sold to banks and other authorised dealers on Friday, with data showing that aggregate FX inflows on the decline. In the parallel market, the naira appreciated…

NCC Studies Competition to Address Market Dominance in Telecom Sector The Nigerian Communications Commission (NCC) has commenced a comprehensive study on competition in the telecommunications sector to address concerns around market dominance and ensure fair, effective and sustainable competition. NCC said this during a stakeholders’ forum on the Study of Competition in the Nigerian Telecommunications Industry in collaboration with PricewaterhouseCoopers in Lagos on Tuesday. Speaking at the forum, the Head of Tariff, Policy, Competition and Economic Analysis Department, NCC, Mrs Omotayo Mohammed, said that the exercise was necessary to validate existing competition policies against current market realities. Mohammed said the…

Brent Hits $64 as Oil Prices Surge on Multiple Concerns Brent hit $64 per barrel on Tuesday as oil prices surged over multiple market-related concerns, including risks of Iran-related supply disruptions and uncertainties over the future of supply in Venezuela returning to focus. In the fresh price surge, the Brent price rose to $64.01 per barrel, up 0.7% from Monday’s close of $63.55. The US benchmark West Texas Intermediate (WTI) was at $59.83 per barrel, up around 0.8% from the previous close of $59.35. Reports that the US President Donald Trump has been briefed on options beyond conventional air strikes…

Naira Rallies Market-Wide on Robust US Dollar Supply The Nigerian naira saw a market-wide rally on Monday, reflecting the absence of significant pressure from dollar demand for foreign payments. Both informal and official markets experienced robust FX supply that eclipsed demand for foreign payments in dollars. The Central Bank of Nigeria (CBN) updated FX data showed that the naira strengthened by 0.12% to ₦1,421.46/$ at the Nigerian Foreign Exchange Market (NFEM) window, supported by foreign portfolio investors’ inflow with support from non-bank corporate supply. The exporters’ inflows also boosted the supply, with the Apex Bank playing its watchdog role in…

XRP Falls on Broader Altcoins Slide, Capital Rotation Ripple (XRPUSD) fell by 2.50% over the last 24-hour trading session to $2.03, underperforming the broader crypto market as altcoin slides pushed Bitcoin market dominance.  Today, XRP spot ETFs saw $38 million in inflows as investors rotated from BTC/ETH. However, price remained depressed as risk-off sentiment limits upside potential. XRP is gaining institutional traction through ETFs and banking partnerships, but 17% negative price action over 60 days reflects lingering scepticism, crypto analysts said. According to data from the crypto exchange, XRP dropped while trading volume surged by 175% to $3.08 billion on…

Risk-off Sentiment: Nigerian Eurobond Yield Climbs to 7.30% the benchmark yield climbed as the Nigerian sovereign Eurobond traded bearish at the international market last week due to risk-off sentiment ahead of inflation data release this week. Market participants exited their positions as Broadstreet analysts project a significant spike in headline inflation, which will likely keep interest rate at double-digit highs. The local fixed income market has seen rates repricing, which could be extended to the external borrowing schedule for 2026 on account of a steep surge in the consumer price index and the absence of monetary easing. Last week, the…

Nigerian Bonds Yield Rises on Negative Risks Appetite The average yield on Nigerian government bonds surged in the secondary market as investors cashed out on their positions ahead of the Debt Office monthly supply. The market anticipates a significant boost in bond supply in the first quarter as Nigeria’s budget deficit widened. Analysts said the government favours both local and external borrowing to bridge the spending gap in 2026. Based on the pattern observed last year, the authority is expected to front-load the local bourse amidst expectations that Nigeria’s headline inflation rate will surge significantly due to the base effect,…

Brent Crosses $63 as U.S Halts Venezuela Oil Supply to Cuba Brent crossed $63 per barrel on Monday after the United States said Cuba will stop receiving crude oil from Venezuela and uncertainties over the Federal Reserve policy outlook. U.S. President Donald Trump on Sunday said no more Venezuelan oil or money will go to Cuba and suggested the Communist-run island should strike a deal with Washington. Venezuela is Cuba’s biggest oil supplier, but no cargoes have departed from Venezuelan ports to the Caribbean country since the capture of Venezuelan President Nicolas Maduro by U.S. forces in early January amid…

Treasury Bills Yield Rises as Investors React to Rates Hike The average benchmark yield on Nigerian Treasury bills rose by 50 basis points to 18.17% in the secondary market as fixed-income market investors took profit on naira assets following an increase in spot rates at the midweek auction. Sell pressure surfaced after the Apex Bank increased spot rates on Treasury bills across the standard tenors on Wednesday. Initially, ample system liquidity supported early demand, before profit-taking and rising supply concerns gradually dampened early buying interest. At the beginning of the week, AIICO Capital Limited reported that trading was modestly bullish,…

Airtel Africa: 72% Upside Potential Spotted on New Target Price With 72% upside potential spotted, a Lagos-based investment firm, CardinalStone Securities Limited, has slightly reduced its target price for Airtel Africa Plc following a revision to its estimate. The investment firm hinted that the telecom company is relatively cheaper versus peers in the Middle East and Africa at the current stock market price. Airtel Africa Plc share price settled at N2,270 in the equities market, the position the telecom company had maintained over a long period in 2025. In spite of its solid earnings growth, Airtel Africa’s share price was…