Author: Marketforces Africa

For the fifth trading session, the naira declined against the US dollar amid tightening liquidity, driven by the Apex Bank’s efforts to prevent the local currency from gaining momentum.

The Central Bank of Nigeria (CBN) slowed naira appreciation at the official window and mopped up about $190 million from the local currency market last week.

Oil prices eased in the global commodity market on Monday ahead of U.S.-Iran talks in Geneva later in the week.   Brent crude traded at $70.59 per barrel, down 0.8% from the previous close of $71.22. US benchmark West Texas Intermediate (WTI) decreased 0.9% to $65.68 per barrel, compared with $66.30 in the previous session.

Moody’s Upgrades Helios Towers’ Rating Moody’s has upgraded Helios Towers plc’s corporate family rating (CFR) to Ba3 from B1. At the same time, ratings analysts upgraded the probability of default rating (PDR) to Ba3-PD from B1-PD and upgraded the rating of the outstanding $850 million backed senior unsecured notes due in 2029, issued by HTA Group, Ltd., to Ba3 from B1. According to the rating note, the outlook for both entities has been changed to stable from positive. The rating action reflects the view that Helios Towers’ credit profile has sustainably strengthened, driven by the company’s continued solid operating performance,…

Binance coin (BNB) slid by 0.89% over the last 24 hours to $624.39 as cryptocurrency investors’ sentiment continues to deteriorate amid geopolitical uncertainties, expectations, and technical positions.

SCM Capital Asset Mgt Limited’s Fund (the Frontier Fund), an open-ended unit trust scheme that offers investors the opportunity and flexibility to pool resources and optimize returns through the earning power of volume investing, has announced a plan to pay unitholders N18 per unit.

FMBN Targets N750bn Recapitalisation to Boost Housing Finance The Federal Mortgage Bank of Nigeria (FMBN) has announced a net operating surplus of ₦19.5 billion for the 2025 financial year, representing over 68.4 per cent year-on-year growth. Speaking at his two years anniversary, on Wednesday in Abuja,the Managing Director and Chief Executive of FMBN, Shehu Osidi, described the turnaround as a reflection of deliberate reforms. According to Osidi, the Bank generated consistent surpluses since the current management assumed office, a significant shift from 2023 when only ₦226,000 was recorded as surplus in management accounts before the new leadership took over. “In…

As Africa seeks to capitalize on surging global demand for critical minerals to drive GDP growth and industrialization, regional collaboration is emerging as a strategic imperative to unlock the continent’s full resource potential.

The Central Bank of Nigeria (CBN) reduced the spot rate on 1-year treasury bills below 16% at the primary market auction on Wednesday due to excess subscription on the naira curve.

With a move to internalise lease payments, MTN said it has agreed with IHS to acquire the remaining shares of the company not already owned via an all-cash transaction.