Peaks and Valleys in Nigeria’s Finance
Prologue Amidst Nigeria’s financial outlook, the week unfolded with anticipation and uncertainty. Budget revelations,In the heart of Nigeria’s financial markets, the past week was a whirlwind of events, marked by two pivotal auctions – the Nigerian Treasury Bills (NTBs) and the Open Market Operations (OMO), amongst many others. These concurrent actions sparked diverse outcomes, triggering […]
Decoding Nigeria’s 2024 Fiscal Maze: Budget, Bonds, and Beyond
Prologue Amidst Nigeria’s financial outlook, the week unfolded with anticipation and uncertainty. Budget revelations, fluctuating yields, market surges, and the unveiling of a new stablecoin all marked the rhythms of the economy. As the naira wrestled with volatility and the country’s economic pulse quickened, a tale of financial ebbs and flows emerged, shaping the path […]
Regulatory Signals Drive Markets Into New Year
Prologue The end of the year 2023 was characterized by a significant drop in Nigerian fixed income yields largely due to the belief that the CBN was not keen on conducting Open Market Operations (OMOs) in the future and partly driven by excess liquidity in the banking system. Although many stakeholders opined that consistent OMOs […]
Long Walk to Freedom
In the week under review, the regulatory resolve to change the fortunes of the country remained crystal clear. The government is undoubtedly making efforts to address the foreign exchange problem by attracting foreign investments and obtaining external financing through a range of creative structures recently explored. Although there was some uproar about outstanding airline FX […]
Naira Soars: Markets Astonished by Currency Revaluation
Prologue The Central Bank of Nigeria (CBN) has successfully restored confidence in the Nigerian economy as it moved to clear outstanding FX obligations. The resultant surge across the economic landscape was notable as the pivotal moment came with the Naira’s rapid appreciation against the Dollar to close the week $/₦776.14 at the Nigerian Autonomous Foreign […]
A Vision for Nigeria’s Future
Prologue In yet another critical week for the country, the 29th edition of the Nigerian Economic Summit outlined a vision of rekindled hope characterised by astronomical growth and development. A significant move emerged as the Standing Deposit Facility (SDF) limit on placement earnings was removed, ultimately reducing the real-impact of interbank liquidity on the yield […]
Turbulent Times
Prologue As Nigeria’s economic narrative unfolds, markets are intrigued by what can be described as a compelling saga, where the Central Bank’s strategies appear to be converging with market resilience. The local currency has sustained a downward trend as scarcity of the dollar bites harder. NAFEM closed the week at $/N808.27 while the parallel market […]