Author: Marketforces Africa

CBN Opens N250bn Worth of Treasury Bills for Subscription The Central Bank of Nigeria (CBN) is scheduled to float its first Treasury Bills valued at N250 billion for investor participation in the primary market auction (PMA) of the month. The main auction, the first in the second half of 2025, is floated on Wednesday as N130 billion worth of treasury bills expire this week. The authority is offering N250 billion across standard maturities. The Nigerian Treasury bills maturing in 91 days, worth N100 billion, will be offered for subscription midweek at the main auction. The CBN will also open N20…

UBA Business Series Targets MSMEs’ Growth Via Partnerships Building Africa’s Global Bank, United Bank for Africa (UBA), is set to host another edition of its highly anticipated quarterly Business Series, with a strong focus on empowering micro, small, and medium enterprises (MSMEs) to build strong businesses that will drive lasting impact across the continent. This quarter’s session, which is the second for 2025, will be held on Thursday, July 10, 2025, at the UBA House, Marina, Lagos, and is part of the bank’s broader commitment towards business development and financial inclusion. The UBA Business Series aims to equip small business…

NGX Index Climbs as Tier-1 Banks See Intraday Rally With marginal price appreciation on some counters, the Nigerian Exchange (NGX) All-Share Index is making an uptrend as investors showed interest in top big banks stock in the equities market on Wednesday. Tier-1 banks stocks are driving the local bourse higher, with marginal gains reported by GTCO, Access Holdings, UBA, and Zenith Bank Plc. Stockbrokers, however, noted that intraday gain remains soft, suggesting weak bargain hunting, which could easily slip negative on potential profit taking. At midday, the NGX All-Share Index recorded a marginal increase of 0.01%, Alpha Morgan Capital Limited…

Nigeria Bond Yield Sinks Below 17%, Subsidy Savings Ease Offer The Federal Government of Nigeria (FGN) bond market ended the session on a mildly positive note, as yields declined across key maturities, leading to a sharp reduction in the average yield in the secondary market. On Tuesday, the benchmark yield on Nigerian government bonds fell below 17% in the secondary market due to aggressive purchases from asset and wealth managers, including activities of pension fund administrators. The market supply is expected to remain tight in the third quarter of 2025 as the government shifted attention from the local debt capital…

Interbank Rates Jerk Up as Financial System Liquidity Falls Interbank rates became more restricted due to decreased liquidity following the Central Bank of Nigeria’s cash reserve actions. The continuous outflows strained liquidity, causing fluctuations in short-term interest rates. Banks boosted their liquidity by borrowing from the CBN’s standing lending facility. Due to the tight funding profile in the financial system, analysts said cash-rich banks have started to ask for higher rates to part with their excess funds. The banking system liquidity dropped 62% to open at ₦105.89 billion, according to TrustBanc Financial Group Limited. The decline was driven by a…

EFCC Chair Tasks NASS on Accountability, Fiscal Responsibility The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede has tasked the 10th National Assembly on transparency and fiscal integrity. Olukoyede gave the charge on Tuesday at the ongoing National Conference on Public Accounts and Fiscal Governance, organised by the Senate and House of Representatives Public Accounts Committees. The theme of the three-day conference is “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.” The EFCC boss decried opacity in Nigeria’s financial reporting system, particularly within the oil and gas sectors. He said…

FG Launches Passport Front Office for Senior Public Officials The Federal Government (FG) on Tuesday in Abuja launched a new passport front office specifically for senior public officials. Speaking at the ceremony, the Minister of Interior, Dr Olubunmi Tunji-Ojo said that the office has a specialised facility designated to facilitate a timely and seamless passport process. He stated that the facility was established in response to the persistent challenges faced by senior government officials in accessing passports. “Before now, many top-level public servants had to abandon their official duties and endure long queues at standard passport offices. “It will became…

Stanbic IBTC Raises N148.7 Billion for Recapitalisation  Stanbic IBTC Holdings Plc has successfully concluded its rights issue to existing shareholders, raising N148.7 billion—exceeding the Central Bank of Nigeria’s (CBN) recapitalisation requirement. In a statement issued on Tuesday, the bank said the offer recorded an impressive oversubscription rate of 21.9 per cent, underscoring strong investor confidence and shareholder support. The capital raise, described as a strategic move, positions the group to meet the CBN’s stringent recapitalisation mandate while laying a solid financial foundation for sustained growth and innovation. According to the statement, the successful outcome of the rights issue demonstrates the…

Nigerian Stock Market Soars as Investors Gain N226bn The Nigerian stock market experienced a significant surge, with investors’ portfolio value increasing by over N226 billion by the end of Tuesday’s trading session, according to data from the local bourse. The Lagos exchange closed in positive territory today, extending its bullish run from the previous sessions, as key market performance indicators appreciated by 0.30% on the day. Stockbrokers said the upward trajectory was fueled by sustained buying interest in medium- and large-scale stocks, particularly NGXGROUP, NEIMETH, CADBURY, DANGSUGAR, and 53 others, reflecting continued investor confidence in the bourse’s momentum. The Nigerian…

UBA, Dangote Sugar Drive Intraday Rally on NGX Buying interest in UBA, Dangote Sugar Refinery Plc among others are currently driving the Nigerian Exchange All share index north during intraday trading session. Stockbrokers said the gain may not be sustained as investors sentiment appears to be fluctuating on Tuesday after a positive close at the beginning of the week. The number of trade executed showed that the market temperature could be colder, and any surprise exit trade among the Nigerian Exchange heavyweight could plunged market capitalisation lower, Broadstreet analysts told MarketForces Africa in a phone call. At mid-day, the NGX…