Market Updates

FX market records mild naira depreciation to N1,451.86/$ Nigeria’s currency weakened slightly at the official market on Monday, as the Nigerian Foreign Exchange Market rate closed at 1,451.86/$ from 1,450.43/$ recorded on Friday. According to data from the NFEM daily exchange summary available on the website of the Central Bank... Read More →

How CBN-led FX Reforms Support Economic Growth, Non-oil Export Expansion The ongoing drop oil-prices is being cushioned by the Central Bank of Nigeria (CBN)-led FX reforms as seen in the flexible foreign exchange (FX) regime, rising non-oil exports, and growing services trade. The CBN deployment of the Electronic Forex Market Surveillance... Read More →

Capital Gain Tax Implementation Fear Rattles Stock Market as 10 Firms Shed N4.95trn Investors in the Nigeria equities market have continued to take flight as the January 2026 take off of the newly introduced capital gain tax draws closer. At the close of trades for the month of November, the market... Read More →

FSL Insurance Brokers unveils mobile app FSL Insurance Brokers Limited has officially launched FSL Insure, a new mobile and web application designed to simplify, modernise, and expand access to insurance products for individuals and businesses nationwide. According to a statement from the insurance brokerage firm on Sunday, the new app... Read More →

Nigeria’s World Bank debt to hit $9.65bn World Bank loans to Nigeria between 2023 and 2025 are projected to reach $9.65bn by the end of this year as fresh approvals, ongoing negotiations, and disbursements gather pace across key sectors. The amount covers International Bank for Reconstruction and Development and International... Read More →

Banks seek new revenue channels as FX gains fade As the massive foreign exchange gains that banks enjoyed in the wake of the harmonisation of the FX market dry up, market watchers say lenders are actively seeking ways to open up other non-interest channels. This was part of the outlook... Read More →