Author: Marketforces Africa

The naira (NGN) exchange rate strengthened to N1,335 per US dollar (USD)at the Nigerian foreign exchange market (NFEM) on Tuesday, reflecting a strong supply versus demand level.

Banks Place N4.6trn with CBN Amidst Weak Loan Appetite Nigerian deposit money banks (DMBs) stepped up their placements with the Central Bank as the appetite for lending remains tight. Rising defaults witnessed in the industry have negatively impacted credit creation, with banks staking bets in short-term investment securities to boost income. System liquidity started the week on a robust footing, Anchoria Securities Limited disclosed, settling at a net long position of ₦4.68 trillion. The amount represents an uptick when compared with ₦4.32 trillion recorded previously due to additional lodgments at the standing deposit facility. DMBs lodgments with the Apex Bank…

Pension money chasing risky assets has continued to drive momentum in the Nigerian stock market with a record N5.11 trillion gain on Monday.

NCS Denies FX Rates Manipulation for Import, Export Valuation The Nigeria Customs Service (NCS) has firmly denied claims that it manipulates foreign exchange rates for import and export valuation. The service says it neither determines, generates, nor alters exchange rates applied in customs processing across the country. In a statement issued in Abuja, its spokesperson, Abdullahi Maiwada, said the B’Odogwu digital platform only applied rates officially transmitted by the Central Bank of Nigeria (CBN). He stressed that the apex bank remained the sole statutory authority responsible for exchange rate determination under Nigeria’s monetary and fiscal framework. “These rates are electronically…

Oil Prices Rise Ahead of Second Round of Nuclear Negotiations Oil prices increased slightly on Monday as markets focused on the ongoing dialogue between the US and Iran amid concerns over potential supply disruptions in the Middle East, while official holidays in China and the US limited trading volumes. International benchmark Brent crude traded at $67.32 per barrel, up 0.18% from the previous close of $67.19. US benchmark West Texas Intermediate (WTI) increased 0.2% to $62.81 per barrel, compared with $62.67 in the previous session. The second round of nuclear negotiations between the US and Iran is expected to take…

The Lagos State Governor, Mr Babajide Sanwo-Olu, says the state remains the driving force behind Nigeria’s economic growth with 22 per cent contribution to the Gross Domestic Product (GDP).

Afriland Taps UBA to Address Diaspora Investment Risks A property management, investment and development company, Afriland Properties Plc., has pledged to provide verified property investment opportunities and institutional-grade project delivery to address risks faced by diaspora investors.  The company said on Sunday that it was set to provide such interventions through its partnership with the United Bank for Africa (UBA’s) newly-launched Diaspora Services Platform. Afriland made this known in a statement signed by its Executive Director, Mr Kayode Odebiyi. It noted that diaspora investors often faced risks such as construction delays, cost escalations, developer credibility concerns, and challenges in oversight…

Zichis topped the gainers’ chart in the Nigerian market, recording about 61% surge in its quoted price as the agro-allied stock continues to attract investors’ attention.

Inflation Rate to Rise by 3.5% in January – AIICO Capital Nigeria’s headline inflation rate is projected to increase by at least by 3.50% in January following an adjustment in methodology by the statistics office in December 2025. Ahead of Nigeria’s inflation figure for January 2026, a slew of analysts have projected that the year will open with a steep rise in the consumer price index despite naira stability. The consumer price index was expected to hit an average of 30% in December, but the statistics office revised its methodology to even out unanticipated distortions in the inflation figure. Some…

In a recent public statement, the African Export-Import Bank (Afreximbank) announced it would terminate its credit rating relationship with Fitch Ratings. The rationale for this decision was particularly striking.