The Central Bank of Nigeria (CBN) sliced spot rate on Nigerian Treasury bills (NTB) with 182-day and 364-day tenors, reflecting the authority’s move to reduce borrowing costs. 

The average yield fell as Nigerian Eurobonds rallied in the international market on Wednesday, boosted by foreign investors’ appetite for the country’s reforms and improved macroeconomic data.

Nairobi Stock Exchange (NSE) Index climbed on Wednesday as Kenya Airways (7.7%), Umeme Ltd (7.6%), Unga Group (6.6%), Sasin (5.8%) and Kenye Re (5.5%) were the top gainers in the list.

Standard Chartered Bank Nigeria has emerged as the number one Mergers and Acquisitions (M&A) Financial Adviser by deal value in West Africa.

Gov. Abba Yusuf of Kano State has paid N32 billion out of N48 billion gratuity backlogs of retirees inherited in 2023. Yusuf disclosed this on Wednesday in Kano during the inauguration of the sixth tranche of payments to retirees in the state.

The naira appreciated against the US dollar on Wednesday, trading at N1371 as the Central Bank’s daily FX publication showed a sharp increase in interbank FX deals.