Author: Marketforces Africa

Gov. Dauda Lawal has abolished cash revenue collection in Zamfara, in a move to strengthen digital systems, harmonise databases and enable real-time monitoring to reduce leakages.

Brent neared $79 on Monday as oil prices soared in reaction to U.S. and Israeli strikes on Iran, heightening the risk of a prolonged conflict in the Middle East.

The average yield on Federal Government of Nigeria (FGN) bond dipped to 15.4% in the secondary market, as investors actively seek real returns in the naira curve.

The average yield on Nigerian OMO bills climbed to 21.1% in the secondary market, reflecting investors’ measured decisions to adjust their holdings in these short-term investment securities.

KuCoin Token (KCS) fell by 8.51% over 24 hours to $7.63 amid severe selling pressure, significantly underperforming flat Bitcoin and the broader crypto market.

The naira traded negatively against the dominant US dollar at the official window all week despite FX intervention sales by the Central Bank of Nigeria (CBN).

The naira declined against the US dollar at the official window on Thursday, marking the seventh consecutive session of depreciation in the local currency.

Banks Boost Financial System Liquidity Ahead of OMO Debit Banks’ placement at the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) buoyed liquidity in the financial system ahead of the settlement of OMO bills at auction. System liquidity increased by 13% to ₦3.53 trillion, a slew of analysts across the Broadstreet said in their respective market updates, reflecting an increase of ₦416.00 billion from the previous session. The surplus liquidity in the money market kept interbank rate movements in check, as banks did not borrow at the standing lending facility. A surge in financial system liquidity was helped by…

Regulator Sets Deadline for Oil Licensing Round Registration The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the registration and submission of applications for Pre-Qualification under the Nigeria 2025 Licensing Round will close at 4.30 p.m. on Friday, February 27. The NUPRC, in a statement signed by its management, said the notice was in accordance with Section 11.2 of the Licensing Round Guidelines. “All applicants are advised to ensure full compliance with the stipulated submission requirements within the prescribed timeline,” it said. The NUPRC had announced on December 1, 2025, the official commencement of the Nigeria 2025 Licensing Round, marking another…

NGX Drops as Investors Dump Shares in Big Banks The Nigerian Exchange (NGX) All-Share Index dropped further on Wednesday as investors dumped shares in some big banks amid earnings releases. Tier-1 banks: GTCO, Zenith Bank, First Holdco, UBA, and Access Holdings dropped as investor sentiment deteriorated after the regulator’s unusual price-swing warning. NGX closed today’s trading session in negative territory, as key performance indicators decreased by -0.06%. The decline was largely triggered by continued profit-taking activities in some mid-cap and blue-chip stocks. Notable decliners include UBA, ZENITHBANK, WAPCO, OANDO, GTCO, ACCESSCORP, and others across key market sectors. Specifically, the market…