The Nigerian naira fell against the US dollar in the foreign exchange (FX) market as demand pressure began to take shape. Spot FX data from the FMDQ platform

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MTN Nigeria Plc returned to profitability in the third quarter (Q3) of the financial year 2024, a development that marked a significant turning point after three consecutive quarters of net losses. The feat signalled a successful recovery strategy and a promising trajectory moving forward.

Bargain hunting in Nigeria’s sovereign Eurobonds market across the short, mid, and long ends of the yield curve

Oil prices retreated from three-month highs on Monday as Asian buyers shifted attention to Middle Eastern grades amidst growing concerns over a potential recession in major global economies.

The average yield on Nigerian government bonds surged by 2 basis points to close at 19.78% in the secondary market ahead of fresh supply. Trading activities were subdued last week, with minimal trading activity at the short end (+4 bps) of the curve as markets await further details on Debt Office local borrowings for 2025.

The average yield on Nigerian Treasury bills dipped to approximately 25.6% in the secondary market despite quite a trading session at the beginning of the New Year. Trading volumes remained low as most market participants have yet to resume activities for the year fully, according to fixed income market analysts’ notes.

The naira traded at N1535 per US dollar in the Nigerian foreign exchange market, NFEM, on Friday after year-end aggressive FX sales