Author: Marketforces Africa

Benchmark yield Nigeria’s sovereign US dollar bonds trading at the international market inched higher as a result of

The average yield on Nigerian Treasury bills (NTB) steadied at about 6.5% in the secondary market after provoked selloffs

Guinness Nigeria Plc has posted N5.23 billion as a loss after tax due to a strong spike in net finance costs

The Nigerian naira exchange rates across the foreign exchange (FOREX) markets tumbled as the volume of foreign currency

The Federal Government (FG) says plans are on to evacuate the dormant 30 Megawatts (MW)

The federal government and Moroccan authority are in talks to fast-track Nigeria-Morocco Gas pipeline projects

NNPCL $3.3bn Loan to Cost Nigeria $12bn – Atiku Ex-vice president of the Federal Republic of Nigeria Alhaji Abubakar Atiku has asked President Bola Tinubu to explain in a plain terms why a $3.3 billion crude for loans with a 12% interest rate should translate to $12 billion in total repayment. In a Twitter post, the presidential aspirant said in what appears to be a landmark economic decision of the Tinubu-led administration, the Federal Government last year, precisely on August 16, 2023, through the Nigeria National Petroleum Company (NNPC) secured a $3.3 billion emergency crude repayment loan. The fund, according…

The equities segment of the Nigerian Exchange (NGX) extended its positive momentum with the market capitalisation increasing further

FCMB Redeems N5.1bn Unsecured Bond in Full Nigeria’s top financial institution FCMB has settled in full more than N5 billion in debt capital raised from the capital market, according to GCR Ratings. The group raised the amount to boost its market position amidst balance sheet growth. In a statement, the emerging market rating agencies said as a result of this, it has now withdrawn the national scale long-term issue rating of BBB+ (NG) accorded to FCMB Financing special purpose vehicle (SPV) Plc’s Series 3 N5.1 billion Unsecured Subordinated Bond following its full redemption. Naira Steadies as Banks Issue Update on…

Naira Weakens Against USD, EUR, GBP The Naira exchange rate faced a setback in the foreign exchange (FX) markets as demand eclipsed total market supply amidst rising import appetite. The apex bank chief told a conference that the naira is currently undervalued. In the autonomous FX market, the central bank of Nigeria has stopped the US dollar and other foreign currency supplies to influence the exchange rate – at least for more than 3 months. The apex bank decision came after a large devaluation of the naira in June, and a subsequent move to settle the forex backlog. Yesterday, the…