Author: Olu Anisere

Market Liquidity Rises by 32% as CBN Turns Down OMO Bets Money market liquidity spiked by 32% as the Central Bank of Nigeria (CBN) turned down about N1.3 trillion in OMO bills subscription at the open market operation on Tuesday. In separate notes, Broadstreet investment firms reported that intermarket liquidity opened the day with a surplus balance of ₦4.3 trillion, an increase of 32% above the previous day’s close. In absolute terms, AIICO Capital Limited said additional inflows of ₦1 trillion lifted liquidity balance in the financial system from previous session’ level. This was as a result of N1.07 trillion…

Bitcoin Falls by 2% Ahead U.S Fed Interest Rate Decision Bitcoin price (BTCUSD) falls by about 2% in 24 hours ahead of the U.S. Federal Reserve interest-rate decision on Wednesday.  Other top cryptocurrencies are also facing pressure in tight seller market conditions. The Fed is all but certain to cut by 25 basis points Wednesday, so the focus will be on U.S. Fed Chair Jerome Powell’s commentary and hints about the rate path for 2026. A high likelihood of a rate cut lifted cryptocurrencies last week, but in recent days uncertainty over the outlook for further rate cuts has crept…

Non-Bank Corporates Drive Inflow into FX Market, Offshore Bets Ease Non-bank corporates drove FX inflows into the Nigerian market, as data shows that foreign portfolio investment bets shrank amidst year-end exits and book balancing. Foreign exchange inflows through the Nigerian Foreign Exchange Market (NFEM) increased marginally to US$844.70 million, Coronation Merchant Bank research unit reported – tracking below approximately $1.4 billion reported in Oct. The FX inflows posted last week at the official window of the Central Bank of Nigeria (CBN) represent an increase of 4% week on week from US$841.10 million. The miniscule US dollar volume boosts came amidst…

CBN Sells $150mn to Boost Forex Supply in Currency Market The Central Bank of Nigeria (CBN) sold $150 million to authorised dealer banks to strengthen the US dollar volume available at the supply side, updated data has revealed. The naira remains under pressure due to imbalanced supply and demand for foreign currency amidst a slowdown in FX inflows. The market anticipates the naira to close at N1500 per dollar in 2025 with the condition that the authority will not slow down FX intervention. In November, a little less than $400 million was spent to defend the local currency at the…

Solana Gains 5% in Fresh Crypto Rally, Altcoin ETF Momentum Solana (SOLUSD) is up by about 5% on Monday as cryptocurrency investors’ sentiment improved amidst the expected Fed rate cut.  The market anticipates a 25 basis point Fed rate cut later on Monday as the US Federal Open Market Committee meets to decide on the rate. Driving its latest rally, Western Union has selected Solana for its USD stablecoin, leveraging Solana’s efficient, high-volume transaction handling to optimise remittances, particularly in regions affected by inflation. Solana price climbed by 5.12% in the past 24 hours, outperforming Bitcoin (+2.5%) and Ethereum (+3%)…

N20trn Budget Deficit: Nigerian Bonds Selloffs Push Yields Up The Federal Government of Nigeria (FGN) bonds faced sell pressures in the secondary market as a spot rate hike on local treasury bills stoked a selloff. The market also anticipates an increase in local borrowing from the debt capital market in 2026 due to a huge budget deficit totalling N20.10 trillion. The sizeable budget deficit of more than N20 trillion continues to heighten uncertainty around the government’s near-term funding requirements and supply pressures. Bond supply via primary market auctions will increase in 2026 as some analysts begin to rule out another…

CBN to Open N750bn Ad hoc T-Bills Auction for Subscription The Central Bank of Nigeria (CBN) will be conducting an ad hoc treasury bills auction sale midweek following the latest adjustment to its fourth quarter (Q4) of 2025 offer circular. The auction for next week was not in CBN’s original plan but was influenced by government demand for short-term borrowings amidst tight fiscal performance, some analysts said. The monetary authority seeks to raise about N1.09 trillion above its original plan following a recent spot rate hike on one-year treasury bills allotment at 17.50%. On Wednesday, CBN will float N750.00 billion…

Cardano Rises as Midnight Launch Triggers Rally Cardano (ADAUSD) climbed amidst tight trading activities in the crypto market, up by 1.05% in the past 24 hours, showing resilience near key support. The price ticked up on Sunday amidst negative movements in the global crypto market. The gain has reduced its negative movement in the week to 1%. Cardano is showing strength with a $70 million ADA treasury push and a bullish December setup, but it faces key resistance amidst competing traders.   The token is trading at $0.4165 at the time of filing the report on Sunday, gaining more than…

Naira Lost Despite CBN Intervention, Foreign Reserves Hit $45bn The naira recorded more than N3 weekly exchange rate depreciation despite sustained FX intervention sales by the Apex Bank. The official spot rate closed at N1450.4287 per dollar on Friday, depreciated from N1446.7421 at the end of November. The Nigerian forex market is in short supply of US dollars amid mounting demand for foreign payments by eligible market players. The market recorded inflows from Foreign Portfolio Investors (FPIs) and occasional CBN intervention to improve supply but was unable to lower the demand pressure.  Overall, the naira weakened to close at ₦1,450.43,…

Bitcoin Sinks Below $90K Again in Fresh Crypto Selloffs Failing to break out the resistance level, Bitcoin has fallen sharply over the last 24 hours amidst amid macro uncertainty and significant Exchange Traded Fund (ETF) outflows. The crypto market rattled after the Bank of Japan announced plans to raise its policy rate to 0.75%, the highest since 1995, signalling an end to decades of ultra-loose monetary policy. Analysts said this risks unwinding the yen carry trade of more than $2 trillion strategy where investors borrow low-yield yen to fund riskier assets like Bitcoin. Analysts warn this could trigger forced selling…