Market Updates

Naira eyes N1,390/$ settlement as U.S dollar shows resilience globally The Nigerian naira’s outlook for this week is still cautiously optimistic following a period of steady appreciation and a significant shift in monetary policy Market participants are currently observing the Naira/dollar pair to navigate a narrow range to project the next big move. The immediate... Read More →

Fintech growth drives need for stronger AML compliance Rapid fintech expansion in Nigeria is heightening regulatory scrutiny, as authorities push for stronger anti-money laundering compliance to safeguard the financial system, JUSTICE OKAMGBA reports Banks, mobile money operators, international money transfer operators, and other financial institutions in Nigeria are now required... Read More →

Market cap hits N127.36tn on weekly gains Market capitalisation on the Nigerian Exchange hit N127.36 tn as the market closed the week ending Friday on a positive note. The NGX All-Share Index appreciated 0.73 per cent to settle at 198,407.30 points, driven by investor bargain-hunting despite fluctuations in trading volume.... Read More →

Mixed auction results weigh on fixed-income markets The Nigerian fixed-income market experienced a challenging week, characterised by persistent bearish sentiment and cautious investor activity across both primary and secondary market segments. Market participants continued to navigate a complex environment defined by domestic liquidity fluctuations and external global pressures. Reflecting on... Read More →

Coronation Merchant Bank completes N50bn recapitalisation exercise Coronation Merchant Bank has completed its recapitalisation programme, raising its paid-up capital to N50,257,767,438 and reinforcing the bank’s balance sheet to support greater operational resilience and efficiency. A statement from the bank on Sunday stated that the capital raise was carried out through... Read More →

External reserves hit $50bn, highest in 13 years – CBN The Central Bank of Nigeria has announced that the country’s gross external reserves have surpassed the $50bn mark, reaching their highest level in over 13 years. Governor Olayemi Cardoso disclosed this milestone on Thursday while delivering the Distinguished Alumni Lecture... Read More →