Author: Marketforces Africa

Unity Bank Deepens Commitment to Financial Literacy with Youth Outreach In demonstration of its commitment to financial empowerment targeting youths, Unity Bank Plc has again championed the cause of financial literacy by facilitating training in 13 secondary schools across Nigeria to commemorate the 2025 Global Money Week. Held under the theme “Think before you follow, wise money tomorrow,” this year’s engagement focused on helping young people develop discernment and critical thinking in making financial decisions, particularly in an era shaped by social media influence and digital distractions. Unity Bank’s Managing Director/Chief Executive Officer, Mr. Ebenezer Kolawole, supported the initiative as…

Gabon’s Debt Swap Constitutes Distressed Exchange—Moody’s Gabon’s recent debt swap improved liquidity, but Moody’s Ratings agency said the exchange constituted a distressed exchange, which could impact the country’s credit ratings. On April 28, Gabon announced a voluntary debt swap with creditors to extend maturities of outstanding government securities issued on the regional Central African Economic and Monetary Community (CEMAC) market. “The exchange will alleviate immediate debt repayment risks”, Moody’s said in a note. However, the ratings analysts said they consider the operation, which imposes a financial loss to investors and comes amid persistent funding constraints, a distressed exchange and therefore…

Dollar Rallies Amidst US-China Temporary Trade War Pause The US dollar rose against its major trading partners early Monday as the focus turned to inflation and retail sales data for April as well as an appearance by Federal Reserve Chairman Jerome Powell. Supporting the dollar long position was the U.S. and China agreement to step back from some of their tariffs on each other for a period of 90 days.  The U.S. will temporarily drop its tariffs to 30% from 145%, and China will reduce its duties to 10% from 125%. The agreement has reduced trade war fears and repercussions…

Oil Prices Climb as UK Plans Sanctions on Russian Tankers Oil prices climbed in the global commodity market as the UK planned to sanction Russian fleet to increase the costs of war, accusing the operators of helping bankroll the aggressor. Market prices were also buoyed by reports of significant progress in trade negotiations between the US and China aimed at easing long standing tariff and economic tensions. Brent crude increased by around 1.34%, trading at $64.61 per barrel. The US benchmark West Texas Intermediate rose by about 1.41%, reaching $61.57 per barrel, compared to its prior session close of $60.71.…

Nigerian Treasury, OMO Bills Yields Decline after Auctions The average yield on Nigerian Treasury bills and OMO bills declined as investors sought to fill lost bids at the primary market auctions. The Central Bank of Nigeria (CBN) was in the market to sell OMO bills to banks, and foreign portfolio investors last week.  The authority also sold Nigerian Treasury bills as part of an efforts to management liquidity level in the financial system Both auction results reflect investors’ interest in the naira assets ahead of inflation data for April in the new week. Post-auction trading activities were positive, with interest…

Naira Lost N13 Despite CBN $270m FX Interventions The Central Bank of Nigeria (CBN) official exchange rate depreciated by N13 to close at N1609.63 against the US dollar following $270 million spent on FX intervention sales. According to data obtained from the CBN FX platform, the naira depreciated to N1609.63 at the Nigerian foreign exchange market (NFEM) from N1596.68 per US dollar at the beginning of the week. The FMDQ FX spot rate, however, appreciated slightly by 9 basis points to close at N1607.20. In the parallel market, the naira settled at N1620 amidst expectations that the CBN will end…

Academy Press Hits 52-Week High as Investors React to Earnings Academy Press Plc has reached a new 52-week high in the equities market after the company’s share price soared by 50.5% in a fresh rally. According to trading data obtained from the Nigerian Exchange, the printing and publishing stock price soared to N4.32 on Friday as more than 4.168 million units valued at N18.007 million were traded on the trading platform. The company share price had opened at N2.87 at the beginning of the week but closed at N4.37 in an all-week rally in the equities market. Hence, the company’s…

Cadbury Nigeria Hits 52-Week High as Earnings Fuel Rally Cadbury Nigeria Plc has hit another 52-week high in the equities market as investors continue to take positions in the consumer goods company stocks. According to trading data from the Nigerian Exchange, the share price of Cadbury Nigeria Plc climbed to N38.3 on Friday as 167,378 units valued at N6.472 million were traded in the local bourse. The consumer goods stock experienced an all-week rally that pushed it to its highest market valuation on the Nigerian Exchange in the last 52 weeks. Hence, Cadbury Nigeria Plc’s 2.280 billion outstanding shares were…

Tariff Hike: Nigeria’s Internet Users Decline—NCC Report Nigeria’s telecommunications sector witnessed a notable decline in internet users following a 50 percent tariff hike on voice, data, and SMS services implemented in January 2025. The Nigerian Communications Commission (NCC) made this known in industry statistics on its website. According to the report, the industry lost approximately one million internet users in February, with the user base shrinking from 142.16 million to 141.25 million. It said although a slight recovery was observed in March, with the figure rising to 142.05 million, the sector’s data consumption patterns were significantly impacted. The NCC data…

Coronation Capital Advises African Entities on Funding Projects Coronation Capital Limited advised African entities to prioritise funding African projects for sustainable growth. Its managing partner, Kayode Akindele, made the call while speaking with the News Agency of Nigeria in Lagos. Akindele said that this was necessary as a result of overdependence on developmental money, which is not sustainable. He emphasised the need for African-led funding to drive long-term progress, reducing dependence on external sources. He said by supporting African projects, entities can foster economic independence, promote local innovation, and address specific regional needs. “There has been an overdependence on developmental…