Author: Marketforces Africa

CBN Hikes Rates on Treasury Bills with 91, 182-Day Tenors The Central Bank of Nigeria (CBN) extended its upward spot rates adjustment on Nigerian Treasury bills allotted to investors at the final auction conducted for the year 2025 on Wednesday. At the primary market auction, the CBN offered Nigerian Treasury bills totalling ₦700 billion for investors’ subscription, split across three maturities: 91-day, 182-day and 364 day bills. The midweek auction attracted significant interest from investors seeking to take positions amidst sustained spot rates repricing that started in December. Total subscription came in at N1.509 trillion, more than twice the offer…

Seplat Energy Names Mohammed, Ettah Independent NEDs The Board of Seplat Energy on Wednesday announced the appointment of Engineer Saidu Aliyu Mohammed and Larry Ephraim Ettah as Independent Non-Executive Directors (NEDs) of the Company with effect from 1 January 2026. A statement by the company said that the appointments followed the resignation of Bello Rabiu and Babs Omotowa from the Board in April 2025 due to their appointments to the Board of NNPC Limited by the President of the Federal Republic of Nigeria. “The Company embarked on the recruitment process for their replacements in line with the Board of Directors’…

Nigeria’s Oil Regulators’ Chiefs Resign, Tinubu Nominates New CEOs President Bola Ahmed Tinubu has forwarded the names of two nominees to the Senate for confirmation as chief executive officers of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the President said the nominations followed the resignation of Engineer Farouk Ahmed, former Chief Executive of the NMDPRA, and Gbenga Komolafe, former Chief Executive of the NUPRC. Both officials were appointed in 2021 by former President…

Equity Investors Gain N245bn as First Holdco, Access Rally With increased interest in banking names like First Holdco and Access Holdings, the Nigerian Exchange (NGX) index rose as equity investors gained about N245 billion. The stock market closed on a positive note with key market performance indicators both rising by 0.26% on Wednesday. The local bourse experienced renewed buying interest in some mid-cap and blue-chip stocks across major market sectors, recording significant interest in financial stocks. Stockbrokers spotted increased interest in insurance sector and banking sector, and notable gained in the midweek rally include OKOMUOIL, FIRSTHOLDCO, CAP, VITAFOAM, and ACCESSCORP…

PenCom Begins Disbursement of N758 billion to Retirees The Director-General (D-G) of the National Pension Commission (PenCom), Ms Omolola Oloworaran, says the commission has begun the disbursement of N758 billion bond approved by the Federal Government to clear outstanding pension liabilities. Oloworaran said this while giving her one-year scorecard at the Pension Revolution Summit in Abuja on Monday. She said that the N758 billion bond approved by President Bola Tinubu in February, had been cashed. She said that over N600 billion had been disbursed to clear the outstanding liabilities. According to her, the pension assets in the country has grown…

Oil Prices Below $60 over Russian-Ukraine Peace Optimism Oil prices fell on Tuesday on optimism over a potential Russia-Ukraine peace deal that could ease sanctions on Russian crude. The market anticipates a supply glut as predicted by the World Bank and other energy agencies will reduce global prices of crude in the not-too-distant future. Brent Crude futures prices traded down by 2.10% to $59.85 per barrel on Tuesday. Also, the U.S. benchmark, WTI Crude, declined by 2.22% to $55.56 per barrel. US President Donald Trump said he held extensive talks with European leaders on the Ukraine-Russia war, noting that the…

Naira Diverges, Exchange Rates Gap Collapses to N25 The naira traded on a mixed note across the foreign exchange market amidst an increase in international payments, which some analysts have attributed to year-end import demand. The local currency traded on a calm note in the official window on Tuesday, but foreign currency demand tempered in the informal segment due to offshore dollar transfers to Nigerians. The Central Bank of Nigeria (CBN) hinted in its daily FX update that the official spot rate was unchanged at ₦1,451.82 per dollar, supported by intervention. Meanwhile, the naira appreciated ₦1,476 in the parallel market,…

Naira Surges After CBN Closes 15% Forex Market Supply Drop The naira rallies across foreign exchange markets on Monday as the Central Bank of Nigeria (CBN) strengthens the US dollar supply with $250 million amidst a 15% FX inflows reduction. Forex market liquidity suffered a pullback which cost the naira N3 per dollar transaction last week, with data showing that the supply side weakened. The CBN sold $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped. The carryover effect of the FX boost impacted trading activities in the…

Nigeria’s Inflation Rate Decelerates to 14.45% Nigeria’s headline inflation rate slumped to 14.45% in November, the statistics office said in its consumer price index (CPI) report released in Abuja on Monday. Based on the CPI data from the National Bureau of Statistics (NBS), Nigeria’s headline inflation eased by 160 basis points to 14.45% year on year in November from 16.05% in October 2025. The report said on a year-on-year basis, the headline inflation rate was 20.15 per cent lower than the rate recorded in November 2024 at 34.60 per cent. Furthermore, the report said on a month-on-month basis, the headline…

Petrol Import Licences: Dangote Accuses Regulator of Sabotage President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called for an investigation and prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed, accusing him of economic sabotage, which he said is undermining domestic refining in Nigeria. Speaking at a press conference at the Dangote Petroleum Refinery on Sunday, Dangote accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products. Dangote alleged…