Market Updates

Naira to weaken as fuel importers increase dollar demand The naira is coming under renewed pressure against the United States dollar as fuel importers increase foreign exchange purchases to build inventories. Reuters reported on Thursday that the Nigerian currency, alongside those of Ghana and Uganda, is projected to weaken against... Read More →

Private sector credit climbs to N83.3tn amid lending growth Credit to Nigeria’s private sector increased to N83.3tn in June 2026, representing a 2.8 per cent month-on-month rise from N81tn in May, according to the latest Money and Credit Statistics released by the Central Bank of Nigeria. The apex bank’s data... Read More →

Nigeria’s money supply hits N133.25tn despite tight monetary policy Nigeria’s broad money supply climbed to N133.25tn in June 2026, up from N129.21tn in May, despite the Central Bank of Nigeria maintaining a benchmark Monetary Policy Rate at 26.5 per cent. This underscores continued growth in liquidity even amid the country’s... Read More →

Equities shed N800bn as profit-taking halts market rally The recent bullish momentum on the Nigerian Exchange Limited came to a sudden halt on Wednesday as aggressive profit-taking in high-capitalisation stocks wiped N800bn off the total market valuation. The All-Share Index fell by 1,241.19 points, representing a 0.50 per cent decline,... Read More →

Dangote resumes naira petrol sales, hikes price by N140 The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly called petrol, in naira, ending its brief dollar-denominated pricing regime, while increasing its ex-depot price by N140 per litre. The latest development comes one week after the 650,000-barrels-per-day... Read More →

Prioritise governance over account openings, CBN tells banks The Central Bank of Nigeria has urged financial institutions to shift their focus from mere account- opening metrics to delivering measurable customer outcomes, warning that financial inclusion without strong corporate governance risks eroding public trust and exposing consumers to heightened fraud and... Read More →