Author: Marketforces Africa

Exchange Rates Gap Increases as Naira Diverges in FX Markets The exchange rates gap between official and unofficial currency markets widened to N23 per greenback, according to channel check. Updated FX data from the Central Bank of Nigeria (CBN) showed that the naira appreciated week on week to close at N1457 per dollar, from N1475. The official market remained largely stable, supported by steady foreign portfolio investors (FPI) inflows and ample system liquidity. The naira gained N18 on the dollar, supported by limited FX intervention, while rising external reserves reinforce overall market stability. In the forwards market, the naira rates…

Equity Investors Gain N4.23trn as NGX Index Hits Record High Equity investors gained N4.23 trillion on the Nigerian Exchange (NGX) as the all-share index hit a record high over sustained bargain hunting. The Nigerian bourse reached a new 52-week high at 155,640.55 points, up 4.47% week-on-week amidst the third quarter of the year corporate earnings releases. Nigerian stocks saw buying interest in mid- and large-cap blue-chip stocks as well as strategic sectoral reallocation by investors on the back of strong fundamentals. The bargain hunting came amidst a flurry of impressive 9-month earnings scorecards published by corporates to rouse positive sentiments…

Total Allocation to FG, States, LGs Rises by 50% in N16.45trn Over a span of nine months, the Federal Government (FG), along with state and local authorities, has obtained N16.45 billion from revenue collected at the federal level, marking an approximately 50% increase compared to the same timeframe in 2024. The Federation Account Allocation Committee (FAAC) continued its upward trajectory in 2025, marking one of the strongest fiscal performances in recent years. Nigeria’s fiscal strength has been bolstered since removal of subsidy on petroleum, raising monthly allocation to tiers of government in multiple folds. Though more money flow through three…

U.S Headline Inflation Rises to 3% in September In September 2025, the U.S. Consumer Price Index (CPI) eased slightly from the previous month, with the Bureau of Labor Statistics (BLS) reporting a 0.3% month-on-month increase (vs. +0.4% in August). The annual headline inflation rate ticked up marginally to 3.0% from 2.9%, reflecting a mixed inflation reading heading into Q4. The primary driver of the monthly increase was energy prices, particularly gasoline, while core components showed signs of cooling. Core CPI, which excludes food and energy, rose 0.2% month-on-month, slowing from the 0.3% recorded in August, bringing the annual rate to…

UK Labour Market Data Issues Complicate BoE Rate-Cutting Debate -Fitch The UK labour market could be weakening more rapidly than official data suggest, and business surveys point to a further rise in the unemployment rate. This underpins Fitch Ratings’ view that the Bank of England (BOE) will cut the policy rate before year-end, as highlighted in a new report, which highlighted that labour market developments are important for officials in setting monetary policy. But it is harder for policymakers to interpret signals from the labour market figures about the degree of slack owing to the low reliability of the Office…

Naira Rises to N1460 as Foreign Reserves Climb to $42.865bn The naira appreciated against the US dollar at the Nigerian foreign exchange market as the currency market was sufficiently liquid on Thursday. Updated daily fx data from the Central Bank of Nigeria (CBN) showed that the local currency climbed to N1460, reflecting the absence of pressures from higher demand for dollars. The spot fx rate reached an intraday high of N1464 per dollar, while the best fx transactions on the day were closed at N1458. The official FX spot rate closed at ₦1,460.49/$ from N1,463.4375. Meanwhile, Nigeria’s foreign reserves maintained…

Ecobank Nigeria Partners LSETF to Empower MSMEs Ecobank Nigeria, a subsidiary of the leading pan-African banking group, has entered into a strategic partnership with the Lagos State Employment Trust Fund (LSETF) to empower Micro, Small, and Medium Enterprises (MSMEs) across Lagos through capacity building, market access, and enterprise development initiatives. The collaboration is designed to strengthen small businesses, promote entrepreneurship, and boost job creation as part of broader efforts to reduce unemployment and drive inclusive economic growth in the state. Under this partnership, Ecobank will provide MSMEs with access to business advisory support, digital tools, networking platforms, and new market…

Bitcoin, Ethereum Pullback on Sharp Retail Selloffs Bitcoin, Ethereum and other top cryptocurrencies are trading negative on Wednesday as euphoria from the recent rally fizzled out. Most of the tokens were in the red, and the orange coin fluctuation is dragging crypto market cap lower. The crypto market has continued to see sharp price fluctuations, while investor positions are underwhelming when compared to the number of exits. Sell pressures on Ethereum has cost the altcoin a 1.64% loss in the last 24 hours, with market capitalisation settling at $462.199 billion. BTCUSD has lost about 0.9% on the day, trading at…

UK Borrowing Crisis Makes Pension Tax Raid ‘Almost Inevitable’ -deVere The sharp rise in UK government borrowing has created a fiscal squeeze that makes a tax raid on pensions in next month’s budget increasingly likely, warns Nigel Green, chief executive of global financial advisory giant deVere Group. The warning comes as official figures show public borrowing reached £20.2 billion in September, the highest for that month in five years. It brings total borrowing for the first half of the fiscal year to nearly £100 billion, significantly above forecasts, underscoring the growing challenge facing Chancellor Rachel Reeves as she prepares for…

World Bank Unveils Plan to Boost Private Investment, Job Growth The World Bank is developing the International Finance Corporation (IFC2030) strategy to strengthen private capital mobilisation, its President Ajay Banga said this on Friday in Washington DC. Banga, who was speaking during the plenary of the annual meeting of the bank, said that such reforms were the foundation towards achieving the overall mission of job creation. According to him, most jobs, nearly 90 per cent, ultimately come from the private sector. “But they don’t all begin there. Countries move along a continuum: Early on, the public sector drives job creation;…