Economy

  At the official market, the pound traded at about ₦1,855/£, up from ₦1,849/£ in the previous session. Meanwhile, the naira remained relatively stable against the US dollar, trading within the ₦1,375–₦1,380/$ range. The latest movement reflects the influence of global currency dynamics rather than a significant deterioration in the naira itself, as the Central […]

  Institutional investors executed block trades worth approximately ₦32.73 billion on the Nigerian Exchange (NGX) on Tuesday, July 14, 2026, highlighting a sharp increase in large-volume transactions by major market participants. The transactions were completed through 19 separate block trades involving seven listed companies, making it one of the busiest days for negotiated deals on

  Business confidence among Nigerian firms moderated in June 2026, with rising operating costs and persistent macroeconomic challenges dampening optimism across the private sector. This is according to the latest Business Expectations Survey (BES) released by the Central Bank of Nigeria (CBN). The survey indicates that while businesses remain broadly optimistic about future economic conditions,

  The Nigerian equities market started the week on a negative note, with investors losing approximately ₦1.32 trillion as widespread selling pressure across industrial goods, banking, and consumer goods stocks outweighed gains recorded in a handful of counters. The sharp decline extended Friday’s losses, with the NGX All-Share Index (ASI) falling by 2,049.65 points, or

  The Central Bank of Nigeria (CBN) injected almost ₦3 trillion into the financial system after repaying ₦2.97 trillion in Open Market Operations (OMO) bills that matured on Tuesday, even as it conducted a sizeable OMO auction a day earlier. According to the CBN’s latest financial data as of July 14, the apex bank also

  The Federal Government has inaugurated a 15-member Ministerial Advisory Committee to enhance economic policymaking, improve coordination across government institutions, and accelerate the implementation of ongoing fiscal and structural reforms. The committee was inaugurated on Tuesday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele. The advisory body

  Nigeria’s overnight funding market recorded a significant increase in trading activity in May and June 2026, with total traded volume approaching the ₦100 trillion mark even as short-term funding costs remained remarkably stable. Analysis of Nigerian Overnight Financing Rate (NOFR) data published by the Central Bank of Nigeria (CBN) shows that total overnight market

  Nigeria’s foreign exchange (FX) market recorded its largest weekly decline in trading activity so far in 2026, with total transactions across the FX Spot and Derivatives markets falling sharply during the week ended July 10, 2026. According to market data, total FX turnover declined 46.57% to $1.631 billion, down from $3.053 billion recorded in