Market Updates

Share prices of Nigeria’s largest listed companies have run well ahead of their latest earnings growth this year. That raises an important question for investors: how much of the market’s optimism is already priced in? The backdrop is an exceptional year for Nigerian equities. The NGX All-Share Index had gained... Read More →

DLM Capital Group, a leading development investment bank, has fulfilled its second principal and interest (coupon) payment obligation to investors under its N9bn Sovereign Bond-Backed Composite Notes (SBCN). The instrument was issued under the group’s N30bn Medium-Term Notes Programme listed on the FMDQ Exchange. According to the firm, the second... Read More →

Treasury bill stop rates plunged across all three maturities at Wednesday’s primary market auction, with rates falling by 70 to 80 basis points following the Central Bank of Nigeria’s 350- basis-point monetary policy rate cut. The 91-day Treasury bill recorded the largest decline, as its stop rate dropped to 15.50... Read More →

ARM Aggressive Growth Fund broke into Nigeria’s top 10 equity mutual funds in August, replacing FCMBAM Equity Fund, as returns among the funds ranked seventh to 10th. Their returns ranged from 46.64 per cent to 52.90 per cent. ARM’s fund ranked eighth with a 52.10 per cent year-to-date return, according... Read More →

The Federal Government has linked interest charges on unpaid taxes to prevailing borrowing costs, saying delayed tax payments could force the government to borrow to cover revenue shortfalls. Under a new framework taking effect on October 1, 2026, interest on naira-denominated tax debts will be charged at the Central Bank... Read More →

Money market rates declined on Wednesday as increased liquidity in the banking system pushed short-term funding costs lower. The development followed the Central Bank of Nigeria’s 350-basis-point cut in its policy rate to 23 per cent and the adjustment of the standing deposit facility floor to 20 per cent. AIICO... Read More →