Author: Olu Anisere

U.S Dollar Mixed Amidst Tariffs Delay, Fed Appearances The US dollar was mixed against its major trading partners early Tuesday—up versus the yen and pound, down versus the euro and Canadian dollar—before a busy schedule of data releases and appearances by Federal Reserve officials. US President Donald Trump delayed the implementation Monday of tariffs on Canada and Mexico in exchange for concessions from both countries. Hence, the markets are readjusting after Trump’s last-minute deals with Mexico and Canada which delayed tariffs by a month. USD/CAD and USD/MXN are both trading below their Friday’s close. US tariffs on China are due…

Nigeria’s Private Sector Growth Slows in January –PMI Nigeria’s private sector growth as measured by Stanbic IBTC purchasing manager index (PMI) released by S&P global slowed down by 7 basis points in Jnaury to 52 but there were signs inflation pressure soften. The report stated that the nascent growth in the Nigerian private sector seen at the end of 2024 was sustained into the first month of 2025, with new orders and business activity each continuing to rise. In January, there was a large improvement in business confidence while firms expanded employment, purchasing and inventories. Although input costs and output…

9mobile Loses Subscribers in November, December -Report Nigeria’s fourth mobile network operator, 9mobile, has continued to experience a decline in its subscriber base, with 6079 customers porting out of its network in two months. This porting loss for 9mobile occurred in the months of November and December 2024. The Nigerian Communications Commission (NCC) made this known in its Incoming and Outgoing Porting Activities of Mobile Networks Operators Report on its website. According to the NCC’s report, out of a total of 2998 subscribers which moved from one network to another in December 2024, 2188 subscribers left 9mobile to other networks…

CBN Approves Inclusion of CFA for Export Proceed Repatriation The Nigeria Export Promotion Council (NEPC) says that the Central Bank of Nigeria (CBN) has approved CFA Franc to be captured on Nigeria Export Proceed (NXP) forms for the repatriation of export proceeds. Mrs Nonye Ayeni, Executive Director of the NEPC, disclosed this while addressing newsmen on the non-oil export performance for the year 2024, in Abuja on Friday. Ayeni said that the council had engaged the CBN on the inclusion of the CFA Franc, adding that it was a dominant currency in cross-border trading. She said that the currency was…

Midday Rally: Equities Investors Take Positions in STANBIC, ARADEL, FCMB Stanbic IBTC, Aradel Holdings, FCMB, Stanbic IBTC, and International Breweries Plc are currently driving positive momentum on the Nigerian Exchange (NGX) trading platform on Wednesday. The local bourse is blazing positive during the early trading session on Wednesday as investors’ sentiment improved. As a result of this, the banking index has seen a push, with investors taking positions in both Tier-1 and Tier-2 stocks. At midday, the Nigerian Exchange market index,, or All Share Index (ASI) witnessed a positive trajectory, displaying a gain of 0.54%, Alpha Morgan Capital Limited said…

Yield Climbs as Bears Touch Nigeria’s Eurobonds Nigeria’s Eurobond yield rose to 9.51% due to a bearish touch from sell-side foreign portfolio investors in the international market at the time when DeepSeek performance rattled the Artificial Intelligence (AI) industry and WallStreet expectations. Reacting to DeepSeek’s strategic positioning, major tech company stocks fell sharply on the day as the Chinese AI heightened popular AI’s valuation risks. Bearish sentiment across Nigeria’s sovereign Eurobonds market, encompassing the short, mid, and long ends of the yield curve, led to a 9-basis-point increase in the average yield, settling at 9.51%, according to Cowry Asset Limited.…

Access Holdings Climbs to N1.48 Trillion in Fresh Rally Access Holdings Plc.’s market value surged significantly in the equities market as investors began to make strategic entry ahead of earnings release. The market valued Access Holdings 53.317 billion shares outstanding at N1.482 trillion on Monday amidst an unusual volume of shares that exchange hands. The Nigeria’s top lender share price surged to N27.80 on Monday, up by 9.88% from the opening price of N25.3 on the back of strong volume transactions. Ticker: ACCESSCORP led the volume charts with about 51.00 million units, or 9.84% of total volume traded in the…

Nigeria’s Insurance Industry Assets Rise 5% to N3.9trn in Q3 Nigeria’s insurance industry assets rose by more than 5% in the third quarter, according to data from the National Insurance Commission, NAICOM. The industry recorded a N3, 877.1 billion in total assets, representing an expansion of 5.1% compared to the corresponding period when it reported N2, 809.3 billion as the industry size. The statistics of the financial position of the market also recorded a total of N2,337.9 billion in assets as attributable to non-life businesses, while life businesses accounted for N1,539.2 billion as total assets at the close of the…

Nigeria’s Debt Management Office, DMO, will be raising N450 billion from the primary market auction as part of efforts to close the 2025 budget deficit gap.

Nigerian Bonds Yield Rises to 20.75% Ahead of First Auction The Nigerian bonds benchmark yield rose to 20.72% in the secondary market over sustained sell pressures ahead of the Debt Management Office primary market auction on Monday. Local bonds market participants continued to aggressively offload securities in anticipation of higher yields at the auction. Hence, the average yield increased by 65 basis points to 20.70%, Cordros Capital Limited told investors in a note ahead of first supply in 2025. Across the benchmark curve, the average yield increased at the short (+87bps), mid (+27bps), and long (+92bps) segments, according to Cordros…