Author: Olu Anisere

Interbank Rates Steady as Banks Scale Back SDF Placements Interbank rates steadied due to a decline in the financial system liquidity, resulting from deposit money banks’ (DMBs) reduced placements at the Central Bank Standing Deposit Facility (SDF). Excess liquidity in the money market had surpassed N4 trillion level in the absence of open market operations. The Nigerian bonds auction settlement failed to drain excess funds. Reflecting the absence of funding pressure, interbank rates remained stable across all tenors on Thursday, with the overnight rate holding at 24.88%, indicative of equilibrium in system liquidity conditions and subdued funding pressures. Investment firms…

Unilever Nigeria Grows Profit by 100% to N21.98bn in 9M-2025 Staying on track to achieve its earnings guidance, Unilever Nigeria Plc grew profit by about 100% year on year to N21.981 billion at the end of the third quarter of 2025 from N11.009 billion in the equivalent period in 2024. Analysts said price increases implemented across product lines by companies in the Fast-Moving Consumer Goods (FMCG) sector from the previous year into 2025 have helped partially cushion the impact of broader macroeconomic headwinds that have challenged performance across the industry. Even with that, FMCG continues to face significant pressures, including…

Oil Prices Decline as Markets Anticipate Supply Boost Oil prices declined in the global commodity market on Thursday after data showed that US crude production increased amidst the Federal Reserve rate pause signal. The US Energy Information Agency data points to rising output in the US amidst the OPEC+ group plan to further boost production also weighed on market sentiment. Brent crude was trading at $63.81 per barrel, down 0.57% from the previous close of $64.18. US benchmark West Texas Intermediate (WTI) also decreased by 0.43% to $59.93, compared to $60.19 in the prior session. In line with market forecasts,…

Rates Ease, Nigerian Banks’ Placement with CBN Hits N4.1trn As part of their efforts to drive earnings growth, Nigerian deposit money banks (DMBs) have continued to increase their bets at the Central Bank of Nigeria (CBN) Standing Deposit Facility (CBN). The money market has been sufficiently liquid in October, keeping the short-term benchmark interest rates movement in check after September monetary policy adjustments. Commercial banks have been leveraging on 24.50% standing deposit facility rate, boosting funds placed with the CBN to replace lower yields on treasury bills. In the absence of funding pressures, interbank bank rates have restricted to a…

Tinubu Obtains Approval to Raise $2.35bn External Loan The National Assembly on Wednesday approved President Bola Tinubu’s request to secure a total of $2.347 billion from the international capital market to part-finance the 2025 budget deficit and refinance maturing Eurobonds. Also granted was Tinubu’s request to issue a $500 million debut sovereign sukuk in the international capital market (ICM) to fund infrastructure projects and diversify Nigeria’s financing sources. The approval was given request after considering the report of both committees on aids, loans and debt management. In the lower chamber, the House of Representatives adopted a report presented by the…

Coronation Insurance Profit Plunges by 59% to N3.7 bn in Q3 Coronation Insurance Plc delivered a net income of N3.710 billion at the end of September of 2025, a sharp decline of about 60% from N9.192 billion posted in the equivalent period in 2024. In its third quarter of 2025 earnings release, the insurance company reported that its insurance revenue surged by 49.82% year on year amidst growing rivalry in the industry. Reflecting a tight operating environment, its insurance expenses accelerated much faster that top line growth, placing a significant pressure on margin. Insurance expenses surged by 53.1% year on…

British Pound Falls as UK Faces Fiscal Challenges The British pound, or the sterling, fell against the US dollar at forex markets, trading at $1.325, its lowest in three months, as the UK faces fiscal challenges.  The sterling depreciation was fast-tracked by markets’ anticipation of Bank of England (BoE) rate cuts next week. The GBP/USD exchange rate dropped over 0.50% after the Office for Budget Responsibility indicates plan to downgrade productivity. The FX pair fell below the 1.3300 level for the first time since October. However, the Sterling weakness is being countered by growing expectations of a Federal Reserve rate…

Money Market Rates Steady, Banks Place N3.1trn with CBN Surplus liquidity conditions in the money market has kept rate pricing in check, trending below the 25% floor, resulting in increased bank placement with the Apex Bank. To boost their earnings, banks have been placing excess funds at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF), earning 24.5% on their placements. Borrowing actions at the Standing Lending Facility (SLF) has slowed down from previous actions experienced last week. The slowdown in CBN’s liquidity action kept rates movement in check while commercial banks placement surged on the day. According to…

459 Court Cases: Stanbic IBTC Litigation Portfolio Surpasses N520bn Stanbic IBTC Holdings now has more than N552 billion in its liquidation portfolio as the financial institution seeks legal redress in court against Asset Management Corporation. In a disclosure, Stanbic IBTC explained that in the ordinary course of business the Group is exposed to various actual and potential claims, lawsuits and other proceedings that relate to alleged errors, omissions, breaches. The Group litigation portfolio as at 30 September 2025 consisted of 459 cases and aggregate value of monetary claims against the Stanbic IBTC Group was N519,285,211,830.52; USD$2,267,141.61 & GBP £1,556.07. Stanbic…

Nigeria’s Tax Reforms Reshape Fiscal Landscape, Says FIRS Chair The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has said that ongoing tax reforms and amendments to key fiscal legislations have significantly reshaped Nigeria’s tax ecosystem. Adedeji stated this in his goodwill message at a training workshop for Justices of the Supreme Court, Court of Appeal, and Judges of the Federal High Court on the new tax laws. He explained that the reforms, which include amendments to the Finance Acts, the Petroleum Industry Act, and various subsidiary legislations, have introduced new compliance obligations, dispute resolution mechanisms, and…