- UK Court Acquits Diezani Alison-Madueke of Bribery Charges
- CBN Hikes Interest Rates on Treasury Bills to 17.34%
- Bitcoin Slips as Bank of Japan Hikes Rates to 31-Year High
- Nigeria Eurobonds Yield Rises 8bps on Risk-Off Sentiment
- IMF: FG Dismisses Report on New Telecom, Fuel Taxes
- G7 leaders to Discuss Global Economic Recovery
- South Africa’s Inflation Rises to 4.5% in May
- Crude Oil Prices Fall Below $80 as Supply Risk Eases
Author: Olu Anisere
Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.
CBN Defends Nigerian Naira With $37m Sold to Banks The Central Bank of Nigeria (CBN) spent additional $37 million in exchange for equivalent amount in naira from banks as the authority continues to boost liquidity in FX market. Despite expectation that the authority will keep at selling US dollar to banks, the naira outlook remains uncertain in 2025. A number of investment banks appear bearish on exchange rate outlook at different degree of projections that suggest the naira would fall further. MarketForces Africa notice that investment banking firms are adding caveat to naira estimates following overhauling of Nigerian refineries –which…
Nigerian government earnings came at about 34% below target in October 2024, the Central Bank said in its economic report for the month.
Bond Yield Settles at 19.75% ahead of 2025 Supply The average yield on Nigerian government bond settled at 19.75% as a result of subdued trading activities in December ahead of fresh supply in 2025. In the secondary market, the local bonds market experienced another quiet session, with most interest directed toward the February 2031, May 2033, February 2034, and June 2053 papers. Across the benchmark curve, the average yield pared at the short (+1bp) end as investors trimmed their portfolios to reposition in high return assets. Traders explained that there was profit-taking activities on the JAN-2026 (+2bps) bond, but closed…
The naira slid against the US dollar as the currency market faced mild demand pressure. Demand for foreign currency grew at a higher speed than the amount available to settle transactions.
MTN Nigeria Crossed N4 Trillion Ahead of Q4 Earnings MTN Nigeria Plc has again crossed N4 trillion market value in the equities segment of the Nigerian Exchange following a positive price movement. Over a short trading period last week, the telecom stock gained 10.54% on the back of a Santa Claus visit that lasted till Friday’s close. Data from the local bourse showed that MTN Nigeria share price rose to N194 from N175.5 due to increased demand boosted by earnings expectations. The positive price movement lifted its market value to N4.073 trillion on the Nigerian Exchange trading platform. This is…
Investors showed significant buying interest on some financial stocks – banking and insurance names – in the local exchange last week. Demand for financial stocks increase generally ahead of fourth quarter of 2024 earnings release.
The average yield on the Nigerian U.S. dollar bond advanced slightly due to offshore investors that were repositioning
The average yield on Federal Government of Nigeria (FGN) bonds saw a marginal increase in the secondary market over soft sell pressure, resulting in a slight uptick in the average yield to 19.75%.
The bearish sentiment on Bitcoin plunged cryptocurrencies market capitalisation downward by 4% after Christmas. Investors, basically on the retail end, reduced their bets on the world’s largest digital coin on Boxing Day.
Crude oil prices increased in the global commodities market on Thursday on China’s positive demand expectation. Brent crude price climbed to $73.25 per barrel while the US benchmark West Texas Intermediate (WTI) also edged higher to $70.1 per barrel.