Author: Olu Anisere

Bitcoin Cash Investors Gain 3.7%, YTD Return Improves Bitcoin Cash (BCHUSD) investors gained 3.7% as the cryptocurrency market struggles to keep the uptrend due to mixed sentiment and regulatory and macroeconomic uncertainties. Trading patterns showed that Bitcoin Cash navigates technical resistance and ecosystem growth as whale activity signals cautious optimism; its price has continued to make an uptrend. The positive price movement of BCHUSD reflects strategic partnerships, whale positioning, and a technical setup favouring bulls. The altcoin traded at $604.82 at the press time, up by 3.71% in the last 24 hours with $411.47 billion in trading volume on Friday.…

Naira Poises for Strong Year-End as CBN Funds Liquidity Gap The Nigerian naira picked up momentum against the US dollar at the official window as year-end pressure eased with support from the Central Bank (CBN) interventions. The Apex Bank stepped up its market intervention strongly in the fourth quarter due to heightened US dollar demand pressures. To stabilise the naira, the CBN funded FX gap amidst fluctuating inflows. According to a daily FX update released by the CBN, the spot FX rate appreciated by 0.46% to ₦1,443.38/$ at the official window on Wednesday. The exchange rate appreciation signals that pressure…

Nigeria’s Budget Deficit Reduces by 16% to N2.66 trn in Q2 The federal government posted a 16% year-on-year decline in fiscal deficit, settling at N2.66 trillion in Q2; financed entirely through domestic borrowing in the second quarter of the year, according to the Budget Office of the Federation (BoF). Data contained in the Second Quarter and Half-Year 2025 Budget Implementation Report (BIR) by the BoF noted that the deficit was financed through domestic borrowing in the quarter under review. Total budget deficit on record was about 25% below FG’s projection of N3.58 trillion for the period. Nigeria’s N2.66 trillion fiscal…

NNPC Commits To Peace, Responsible Energy Dev’t in Ogoniland The Nigerian National Petroleum Company Limited has reaffirmed its commitment to peace, dialogue, and responsible energy development in Ogoniland. The Group Chief Executive Officer of Mr Bashir Bayo Ojulari made this known while speaking during a Federal Government delegation’s visit to Ogoniland, in Rivers. Ojulari, in a statement on Tuesday by Andy Odeh, Chief Corporate Communications Officer, NNPC Ltd. described the Federal Government’s renewed engagement as a demonstration of hope and a new beginning built on partnership and understanding. “This visit is a demonstration of hope. It affirms the commitment of…

Naira Appreciates Market-Wide as CBN Funds FX Payments The Nigerian naira experienced a market-wide rally on Tuesday as foreign transactions and import payments eased. The Central Bank of Nigeria (CBN) has been funding rising demand for US dollars amidst a sustained decline in FX inflows. FX data published today showed that the naira strengthened by 0.45% to ₦1,449.99/$ at the official window. Reflecting the absence of FX pressure, the intraday spot rate peaked at N1455.500, a significant improvement from N1466 quoted on the previous day. Spot rate touched an intraday low of N1447.5000 with a day close of N1452 per…

Nigerian Treasury Bills Yield Drops to 17.72% The Nigerian Treasury bills yield dropped by three basis points to 17.72% in the secondary market as investors increased the naira asset ahead of the 2026 auction. The local treasury bills market has seen significant adjustment following the Apex Bank rates repricing across the short, belly, and long durations in its December auctions. The market had anticipated disinflation would cause spot rates to be priced lower, but surprisingly, the authority hiked discount rates against expectations. Fixed income market analysts are now expecting the trend to persist in Q1 2026, reflecting the decision to…

Bonds Yields Steady as Investors Anticipate Q1 Supply Trading activities on Nigerian government bonds closed on a softer note at the secondary market with mixed movements across the curve.  Investors’ appetite remained subdued in the post-monthly auction reaction and expectation of increased supply in Q1 2026. The market anticipates significant local debt capital borrowing in 2026 as the government budget deficit widens amidst tight fiscal performance. Traders have switched to cautious mode, weighing the recent spot rates repricing signals, disinflation and possible monetary easing in Q1. Trading activities on the short end, the 22-Jan-2026 bonds yield edged lower by 1bp…

South African Rand Strengthens to ZAR16.7 Per Dollar The South African rand (ZAR) strengthened to 16.7 per US dollar (USD) , the highest level since 2022, buoyed by surging prices of precious metals, particularly gold, amid hopes of further US interest rate cuts and escalating geopolitical tensions. The rand has strengthened by more than 10% against the US dollar so far this year, underpinned by elevated commodity prices and improving local fundamentals. Inflation rate dropped in November, boosting 2026 rate cut expectation amidst government moves to boost economic growth. The US dollar has been on the back foot in 2025…

GCR Downgrades Global Accelerex on Weaker Financial Profile GCR Ratings has downgraded Global Accelerex Limited’s national scale long and short-term issuer ratings to BB-(NG) and B(NG) from BBB-(NG) and A3(NG) respectively. In rating note, GCR said it has also downgraded Accelerex SPV Plc’s N2.275 billion Series 1 Senior Unsecured Bonds’ national scale long-term issue rating to BB-(NG). Outlooks on the ratings have been revised to Negative from Rating Watch Evolving, the rating agency said. GCR said Global Accelerex Limited, a wholly owned subsidiary of Accelerex Holdings, a non-operating holding company is based in Mauritius, with subsidiaries in Kenya, Rwanda, Tanzania,…

Cardano Sees 5.2% Upswing after Midnight Debut Cardano (ADAUSD) has jumped by about 5.2% in the last 24 hours as investors returned to take positions as selloff festivals began to fade. Trading data obtained from cryptocurrency exchanges showed that ADAUSD climbed by 5.21% on the day as trading volume printed at $560 million, up by about 39%. Hovering around $0.38, the altcoin is making further uptrend at the press time, showing strong buy side activities amidst broad-based cryptocurrencies rally on Monday. The move aligns with broader crypto market gains (+0.9% in 24h) but outperforms due to ecosystem-specific catalysts. The price…