Author: Marketforces Africa

President Bola Tinubu has approved the gazetting of targeted, investment-linked incentives to support Shell’s proposed Bonga South-West deep-offshore oil project.

Nigeria to Achieve 2026 Growth Outlook with Reforms – LCCI Amid global uncertainties, the Lagos Chamber of Commerce and Industry (LCCI), says Nigeria can meet 2026 growth projections through coordinated reforms, stronger institutions, and deeper private-sector-driven economic expansion nationwide growth. The President, LCCI, Mr Leye Kupoluyi, said this on Thursday in Lagos at the chamber’s 2026 first quarter news conference. Kupoluyi said that Nigeria must effectively leverage the opportunities presented by the global environment to exceed projected growth in 2026. He noted that in 2025, the global economy demonstrated unexpected resilience amidst significant and persistent headwinds. He said that overall,…

The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six Fintechs and microfinance banks in major financial scams by allowing fraudsters to launder huge sums of money.

The U.S. credit outlook is broadly benign entering 2026, supported by AI-led capex, easing monetary policy and strong fiscal support, says Fitch Ratings.

FCCPC Begins Clampdown on Digital Money Lenders The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcement measures to clamp down on Digital Money Lending (DML) operators for failing to regularise their dealing with the commission. The Director of Corporate Affairs, FCCPC, Mr Ondaje Ijagwu, in a circular on Wednesday in Abuja, said that the commission had removed such operators from its list of approved digital lenders. Ijagwu said the deadline for the operators to regularise their dealings ended on Jan. 5. Ondaje said the regularisation was in accordance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations,…

Naira Drops Against US Dollar Across Nigerian Forex Markets The naira depreciated slightly at the official window, maintaining subtle fluctuation since the beginning of the week. The daily FX rate released by the Central Bank of Nigeria (CBN) suggests exchange rate pressure remains insignificant due to healthy dollar supply at the official window. CBN report indicated that the spot FX rate dropped by 0.09% to ₦1,420.69/$ at the official window. The exchange rate touched an intraday high of N1423, and closed the day at N1423. With an intraday high of N1419 per dollar, some analysts said increased demand for dollar…

Oil Prices Climb Amidst Heightened Geopolitical Uncertainties Oil prices increased on Wednesday as heightened geopolitical tensions and sharp trade rhetoric from US President Donald Trump increased uncertainty and weighed on investor risk appetite. Brent crude traded at $63.65 per barrel, up around 0.2% from the previous close of $63.50. The U.S benchmark West Texas Intermediate (WTI) was at $59.69 per barrel, up about 0.4% compared with $59.43 in the prior session. Fresh US tariff threats layered onto existing geopolitical risks continued to influence price movements, as Trump’s tough stance on Greenland and retaliatory signals from European leaders heightened uncertainty and…

Zichis Debuts on NGX, Closes First Trading Day with 9.94% Gain Zichis Agro Allied Industries Plc recorded a firm and confidence-inspiring entry into the Nigerian Exchange (NGX) on Tuesday, 20 January 2026, following its official listing on the NGX Growth Board. The agro-allied company debuted with a total listed share volume of 69.6 million ordinary shares, opening trading at N1.81 per share and signalling its readiness to access capital market funding for long-term expansion. Market activity around the stock was notably positive during the intraday session. Zichis Agro’s share price advanced to close at N1.99 per share, delivering an absolute…

T-Bills Yield Falls on Enhanced Appetite for Naira Assets The average yield on Nigerian treasury bills fell to 18.10% per annum in the secondary market due to increased bets on the naira asset ahead of midweek auction. The soft hunting for strong yield naira assets improved as system liquidity condition in the money market continued to underpin investor activity across the curve. Traders at AIICO Capital Limited reported that activities remained calm with limited repositioning across the curve. Notably, most tenors closed flat relative to prior levels, reflecting balanced demand and supply dynamics. Investors observed a mild buying interest on…

Naira Dips at Official, Parallel Markets over FX Payments The naira depreciated across the Nigerian foreign exchange markets on Monday over increased international transactions settled via the official window. The local currency had gained more than N5 per dollar at the official window last week, supported by the Central Bank intervention to maintain a stable exchange rate. The market had also witnessed softer pressures that enhanced the weekly gain posted by the local currency, with support from FX inflows from the CBN, non-bank corporates, exporters and other related sources. Data released by the CBN showed that the spot FX rate…