Naira strengthens over CBN intervention, FPI inflow –

The naira strengthened at the official window in the past week to 1,547/$ from 1,549/$, supported by intervention from the Central Bank of Nigeria, which injected dollars into the market to ease corporate demand pressures. Analysts also alluded the development to the resilience of the naira to foreign exchange inflows from foreign portfolio investors. Cordros Capital Limited, in an investor’s note, revealed that FPIs brought in dollars to participate in the Open Market Operation auction by the CBN……(Read More)

Nine banks’ interest expense jumps 43% to N1.9tn –

Nine major Nigerian banks recorded a combined interest expense of N1.90tn in the first quarter of 2025, representing a 43.2 per cent increase from the N1.33tn posted in the same period of 2024, based on The PUNCH’s analysis of their unaudited financial statements. Over the same period, their total interest income stood at approximately N4.18tn. According to the Corporate Finance Institute, interest income is the amount paid to an entity for lending its money or letting another entity use its funds…..(Read More)

DLM launches N30b sovereign bond-backed composite notes –

DLM Capital Group, a diversified financial services institution, committed to delivering innovative funding solutions for businesses across key economic sectors, has unveiled its pioneering N30 billion Series-1 Sovereign Bond-Backed Composite Notes (SBCNs). The N30 billion Sovereign Bond-Backed Composite Note to be issued is a 10-year bond with a triple A rating based on sovereign bond-backed cash flows, and a 49.9 per cent Hold-to-Maturity (HTM) yield…….(Read More)

Market Cap Appreciates by N1.75trn in One Week on Investors’ Confidence –

The market capitalization of listed stocks on the Nigerian Exchange Limited (NGX) advanced by N1.75 trillion in one week, extending to its fourth consecutive week on renewed investor interest, in the Banking, Oil & Gas, and Consumer Goods sectors. The market cap increase in one week was driven by the Central Bank of Nigeria’s (CBN) forbearance directive—eased following clarifying disclosures from banks, while a softer May inflation prints further supported the improvement in overall market sentiment…….(Read More)

Dollar advances as investors brace for Iran response to US attacks –

The U.S. dollar firmed on Monday as anxious investors sought safety, although the restrained moves suggest markets were waiting for Iran’s response to U.S. attacks on its nuclear sites that have exacerbated conflict in the Middle East.

The major moves were in the oil market, with crude prices hitting a five-month high, while global stocks slipped after the U.S. attacked Iran’s nuclear sites and President Donald Trump raised the idea of regime change in the Islamic republic.…(Read More)

Iran weighs retaliation for U.S. strikes as Trump raises idea of regime change –

Iran and Israel traded air, and missile strikes as the world braced on Monday for Tehran’s response to the U.S. attack on its nuclear sites and U.S. President Donald Trump raised the idea of regime change in the Islamic republic. Iran vowed to defend itself on Sunday, a day after the U.S. joined Israel in the biggest Western military action against the country since its 1979 Islamic Revolution, despite calls for restraint and a return to diplomacy from around the world……(Read More)