Search

Gold recovered above the $4,000 an ounce level on Monday, October 26, closing near $4,031, while bitcoin steadied just under $80,000 at $79,786.67, after both assets had taken percentage-scale hits last week.

Global markets steadied on Monday, October 26, as French government bonds rallied after Moody’s affirmed France’s rating and the OAT-Bund spread narrowed to 160 basis points, while Asian equities opened cautiously as oil eased from six-month highs.

The naira rebounded to about ₦1,331.28 per dollar on the official Nigerian Foreign Exchange Market on Monday, October 26, recovering most of the ₦27.12 loss it suffered over Thursday and Friday, while parallel-market rates ranged around ₦1,370–₦1,385.

West Texas Intermediate fell for a second straight day on Monday, October 26, dropping toward $101 a barrel, while Brent settled below $116, as stepped-up diplomatic missions to Tehran raised hopes the US-Iran conflict may not escalate further.

Nigerian equities extended Monday’s recovery on the Nigerian Exchange, with the market capitalisation reaching ₦163.16 trillion and the All-Share Index closing at a record 251,290.54 points, powered by a 10% limit-up day for Dangote Cement.

Brazil’s Bovespa fell 13.9% on Monday, October 26, in one of its sharpest one-day declines on record, while the real tumbled over 11% intraday before trimming losses to about 8%, after Luiz Inácio Lula da Silva clinched a surprise runoff win for a fourth presidential term.

US equities snapped a two-day slide on Monday, October 26, with the S&P 500 up 0.70% to 7,676.77, the Dow higher by 0.28% and the Nasdaq up 0.82%, after reports that Anthropic had filed for a Nasdaq IPO under the ticker ANT.

Fidelity Bank closed Friday, October 23, 2026 at N24.00 after a 9.09% session gain, taking its weekly advance to 14.01% in a week when the ASI dipped 0.13%, as focus shifted from the recapitalisation narrative.

The naira depreciated 2.17% at the official window in the week ended October 23, 2026 to N1,361.84/$ while the parallel rate slipped to N1,375, narrowing the premium to 0.97% from 2.83% as interbank turnover hit $1.01bn.

Fixed-income markets ended the week ended October 23, 2026 with average FGN bond yields up 1bp to 16.4% and average Treasury bill yields down 4bps to 18.2%, as system liquidity strengthened to N6.66trn.

SoftBank-backed OPay is seeking up to $366 million with roughly 16 million ADSs priced at $19-$21, targeting a $4.42bn valuation on the NYSE under ticker OPAY with Stanbic Africa investing up to $200m.

The Federal Reserve meets October 27-28 with the decision at 7 p.m. Nigerian time Wednesday, and the 10-year Treasury yield closed Friday at 4.99% after an artificial-intelligence-driven whipsaw through the week.

US stocks closed lower on October 23, 2026 as Brent rallied to $116.72: the Dow fell 1.23% to 52,215.16, the S&P 500 lost 0.52% and the Nasdaq gave back 0.21%.

Brent crude settled at $116.72 on October 23, 2026, its highest close since April and a third straight weekly gain, while WTI held above $103 and Nigerian Bonny Light traded near $124.

Aradel fell 6.33% in the week ended October 23, 2026, the single biggest drag on the Nigerian Exchange, with Friday turnover of N4.20bn pointing to institutional distribution even as Brent rallied to a six-month high.

Widening French-German bond spreads signal concern over France’s deficit and political paralysis, with implications for the euro and African markets.

After steep losses, global bonds are drawing buyers as yields rise, but inflation, fiscal risk and currency volatility keep the recovery fragile.

Guinness Nigeria’s N16 payout is attractive for income investors, but sustaining it depends on cash flow, consumer demand and cost control.

A N5.6 trillion stock of CBN bills absorbed most of September’s money-supply increase, highlighting the central bank’s heavy reliance on OMO.

Refinery closures, sanctions and strong demand are keeping European product markets tight, with knock-on effects for African importers.

The LNG transaction highlights energy-security hedging as Middle East conflict raises risks for Gulf supply and shipping.

Reserve managers are buying bullion to diversify counterparty risk, with consequences for global gold demand, mining revenue and financial sovereignty.

Fresh buying in banking and industrial counters lifted the bourse, with improved breadth suggesting the rally is broadening beyond a few stocks.

The October 23 auction was oversubscribed by N629 billion, showing abundant banking-system liquidity even as stop rates climbed.

The banking group’s 60.84 per cent profit growth drew fresh buying, narrowing the holding-company discount and lifting sentiment on the NGX.

The official rate weakened 2.1 per cent as dollar demand overwhelmed CBN intervention, reviving concerns about import costs and inflation.

Equity turnover crossed N15.06 trillion between January and September 2026, signalling deeper liquidity even as trading stays concentrated in large-cap stocks.

Overlapping mandates and weak enforcement are allowing contaminated food into Nigerian markets, with serious health and economic costs.

The extension gives more investors time to participate in a landmark listing that tests African capital-market depth and refinery valuation.

African gold reserves rose 113% as central banks diversified away from dollar assets, strengthening resilience but raising valuation and liquidity questions.

Nigerian equities ended the week higher, pushing market value past N160 trillion on banking and industrial gains, though currency risk remains.

The CBN sold N629 billion more OMO paper than offered, showing abundant bank liquidity and a tightening bias that could keep credit costly.

First HoldCo shares rose 10% after pre-tax profit climbed to N911.24 billion, prompting investors to reprice the banking group’s earnings outlook.

The naira weakened by N28 to N1,365 per dollar as heavy demand overwhelmed CBN intervention, reviving inflation and external-reserve concerns.

Nigerian Exchange turnover crossed N15.06 trillion in nine months, signalling deeper liquidity but a market still concentrated in large-cap stocks.

FGN bond and Eurobond yields fell modestly while Treasury bill yields rose, leaving Nigeria's fixed-income market mixed as liquidity stayed ample.

CBN Governor Olayemi Cardoso has urged Chinese financial institutions to invest in naira-denominated instruments after meetings with ICBC in Beijing.

The naira traded at N1,497 per euro, falling below N1,500 for the first time since April 2024, as French bond stress weakened the euro rather than reflecting a domestic naira rally.

Vice-President Kashim Shettima has revived plans to list NNPC and NLNG as part of a ten-year strategy to grow Nigeria's equity market to N750 trillion by 2036.

Nigeria's All-Share Index fell 0.05 per cent to 244,989.9 points on October 22 as market capitalisation slipped to N159.07 trillion, with more stocks declining than advancing.

Firms raised N1.3trn via commercial paper in 9M 2026 as banks tighten and rates stay high.

Vice President calls for state-level electricity markets as reform gains momentum under the 2023 Act.

Nigeria was the only market among seven tracked to see a rise in 10-year yields as liquidity surged.

European shares rallied while several African markets declined as regional factors drove divergence.

Mixed earnings drove sharp stock moves as Braze surged on acquisition speculation and airlines fell on guidance.

S&P 500, Nasdaq and Dow gained as technology led and SpaceX surged on strong Q3 results.

NGX Regulation imposed N123.17m in penalties across 15 companies, renewing debate over enforcement.

Debt Management Office accepted higher stop rates as it allotted N2.02trn across reopened FGN bond maturities.

Nigerian equities fell as banking stocks led losses, with breadth turning negative and turnover moderating.

Bullion backing Africa largest gold exchange-traded fund fell to $2.53 billion in the six months to September, yet the units closed at N86,001 in Lagos, roughly 57 per cent above the metal each unit represents.

The NASD National Securities Index gained 0.54 per cent to 4,355.33 on October 20 while volume fell 30.92 per cent and traded value dropped 17.10 per cent to N22,222,823.70, leaving the over-the-counter board as a thin quoting venue rather than a liquidity market.

The NGX All-Share Index added 0.26 per cent to 245,911.13 on October 20, but the industrial sector led while banks slipped, exposing a rotation inside a flat tape and a widening gap between the 58.03 per cent year-to-date return and a 2.11 per cent fall for the quarter.

MobiBank has added a strategic partner and minority shareholder in Nigeria, its first African implementation market, while naming ten priority markets and confirming the group keeps technology, brand and control.

The All-Share Index fell 0.91 per cent to 245,278.34 points and market capitalisation dropped N1.47 trillion to N159.257 trillion as Dangote Cement declined 5.5 per cent.

Ecobank Group's memorandum with China's CIPS aims to strengthen renminbi payment connectivity between China and Africa, though operational rollout details remain undisclosed.

The SEC-led Nigerian Capital Market Masterplan 2.0 targets expansion from about N250 trillion to N750 trillion by 2036, with a National Savings Scheme and a trillion market ambition unveiled in Abuja.

More than £2 million from the UK's ZE-Gen Scale-up Fund will back ten African clean energy projects, including 100 solar cold storage units and four solar agricultural hubs in Nigeria.

Brent crude climbed to its highest level since May after attacks on tankers near the Strait of Hormuz sparked renewed supply disruption concerns in global oil markets.

Coronation Merchant Bank has been named Nigeria's Best Sales and Trading Team at the Euromoney Markets Awards 2026, recognising its client franchise and execution across fixed income, currencies and equities.

Silver rose above $57 an ounce and copper advanced on October 19 as the dollar softened, extending a mixed but constructive start to the week for industrial and precious metals.

Africa's credit outlook has improved as the African Credit Rating Agency (AfCRA) moves to reshape sovereign and corporate risk assessments, challenging international methodologies that have long frustrated African borrowers.

The US dollar retreated from multi-month highs as concerns about artificial intelligence capital expenditure and credit stress in technology infrastructure pushed Treasury yields lower and softened the Dollar Index toward 101.80.

Dangote Petroleum Refinery says its initial public offering has drawn subscriptions from more than 90 countries, including investors in 51 of Africa's 54 nations, as the offer heads toward its October 27 close with no further extension planned.

Nigerian Exchange Group has been named Africa's Best Exchange at the Euromoney Markets Awards 2026, recognising its role in market infrastructure, digital innovation and capital formation during a period of strong equities growth.

Latest fundamental analysis projects the naira will remain around N1,290 to N1,370 per US dollar through October, with the CBN's reduced policy rate and seasonal import demand capping both appreciation and sharp depreciation.

Dollar trading in Nigeria's official foreign exchange market fell 22.23 per cent to $2.62 billion in the week ended October 16, with forward contracts plunging 81.14 per cent as spot activity also slowed.

Fidelity Bank has raised over N500 billion in new capital as Nigerian lenders race to meet the Central Bank of Nigeria's recapitalisation thresholds ahead of regulatory deadlines.

Nigeria's naira opened the week around N1,331 per dollar, supported by foreign reserves that have climbed to about $58.81 billion — their highest level since November 2008.

Gold climbed above $4,180 an ounce on Monday as Federal Reserve Chair Kevin Warsh struck a softer tone on rates and a global equity selloff driven by AI-spending concerns pushed investors toward safe havens.

Investors in Aradel Holdings are sitting on gains after the share price roughly doubled, with analysts arguing that refining performance and asset quality still leave room for further upside.

Berger Paints shares have risen 207.5 per cent year to date, closing the week at N147.60 as investors rewarded the coatings maker's earnings delivery on the NGX.

Nigeria's federal government guarantees and other contingent liabilities have climbed to N7.84 trillion, with about N2.74 trillion of that exposure tied up as collateral under a $1.5 billion Total Return Swap.

Nigeria's Debt Management Office on Monday launched a N1.75 trillion bond auction, the first of three fourth-quarter offers, after federal allotments more than doubled to N7.15 trillion in the first nine months of 2026.

Nigeria's main stock index fell for a third consecutive week, with banking shares driving an roughly N535 billion loss in market value as investors locked in profits and reassessed valuations.

Gabonese banking group BGFI Holding says the second phase of its share offering has closed oversubscribed, aiming to raise CFA80.558 billion through the issue of 1,006,975 new shares priced at CFA80,000 each.

President Donald Trump has signed an executive order waiving most of the new Russia sanctions and tariffs Congress passed in the Graham Act, acting two days before the implementation deadline and citing the national interest.

NGX Group Chairman Umaru Kwairanga says the capital market is positioned to help drive Nigeria's $1 trillion economy target, with market capitalisation up more than threefold and a call to double the investor base to 10 million.

Seventeen companies listed on the Nigerian Exchange have paid or proposed dividends totalling N1.13 trillion in the first half of 2026, underscoring the cash return profile of Nigeria's largest listed companies.

CoreWeave's junk bonds are yielding more than 15% and its credit default swaps have blown past 1,100 basis points, signs that investors are losing confidence in the AI infrastructure company's ability to service roughly $50 billion of debt.

Brent crude jumped 3.7% to $109.86 a barrel after tankers were hit by mines in the Strait of Hormuz, the highest level since mid-May, prompting emergency supply measures from the IEA and the United States.

At Carbon Markets Africa Summit 2026 in Kigali, policymakers and financiers from 45 countries called for high-integrity, investable carbon projects as Africa shifts from readiness rhetoric to issuance and offtake.

Nigerian equities fell 0.33% for the week to 247,539.73 points as the banking index shed 3.15%, while oil and gas stocks rose 3.13% and market breadth stayed positive.

Senegal raised 338.2 billion CFA francs, about $582 million, in its second regional bond issue of 2026, attracting subscriptions worth 169.1% of the amount offered across four maturities.

Nigerian Exchange Group chief Temi Popoola says the Dangote Refinery IPO has revived private listing talks spanning energy, technology and state-owned companies, with decisions expected from 2027.

Renaissance Capital Africa has raised its Dangote Petroleum Refinery valuation to N700.41 per share, a 33.4% premium to the N525 offer price, citing stronger refining margins.

MeCure Industries has opened a Series 8 commercial paper offer of up to ₦14 billion under its ₦40 billion programme, priced at a 21% gross implied yield as the drugmaker funds working capital ahead of expanding production investment.

Average FGN bond yields rose 26 basis points to 16.4% as investors repriced the curve for heavy fourth-quarter supply, setting up a test at the Debt Management Office's ₦1.75 trillion auction on 19 October.

A broad selloff in technology shares dragged the Nasdaq to its worst week since late June, while Brent crude surged on Middle East supply risks.

The All-Share Index edged up 0.01 per cent to 247,707.13 points for a second straight gain, but decliners outpaced gainers and the value of trades contracted sharply, leaving the rally resting on a narrow band of energy stocks.

Investors bid up to 18.18 per cent on the one-year bill but the Debt Management Office allotted only N269.06 billion against N450 billion offered, rejecting about 78 per cent of 364-day bids to keep a lid on borrowing costs after the rate cut.

The official NFEM rate firmed to N1,331.61 to the dollar while street quotes sat around N1,375 to N1,390, leaving a spread that has compressed sharply as reserves climb and central bank FX sales stay low.

The dollar index held near 102.07 and headed for its first weekly decline since mid-September as the 10-year Treasury yield fell about 15 basis points and the euro recovered from a 17-month low.

Spot gold rose about 0.4 per cent to near $4,187 an ounce, helped by a softer dollar and a sharp fall in Treasury yields, even as hot US producer prices kept Fed rate-hike bets alive and capped the metal near $4,235.

The Jakarta Composite fell 11.57 per cent, its heaviest one-day drop since 1998, after MSCI said Indonesia could no longer be classed an emerging market and proposed standalone status that would push it out of global benchmark indexes.

The three-year yield dropped 23 basis points to 6.45 per cent and the ten-year fell four basis points to 7.93 per cent as a record one-day rally in US Treasuries and a softer dollar lifted Nigerian dollar debt, with a $1.5 billion bond due in November 2027 in focus.

Brent eased about 0.5 per cent to roughly $105.30 but was set for a weekly gain as Middle East shipping risk, Hurricane Isaias shut-ins and pressure for a 100 million barrel IEA reserve release kept the market unsettled.

More stocks fell than rose across 17 African exchanges on Thursday, with Uganda leading index gains and Ghana the weakest, while attention shifted to Enoch Godongwana medium-term budget on 21 October and a possible R70 billion revenue windfall.

A report by British International Investment and Swedfund estimates a $209 billion financing gap facing Black-owned and Black-led businesses across five sub-Saharan African markets, with Nigeria alone accounting for $131 billion of the shortfall.

Gabon sold $580 million in eight-year Eurobonds at a 9.375% coupon, attracting an order book of nearly $1 billion and a risk premium about 50 basis points below its July sale, even as the oil-dependent state remains heavily indebted.

The Central Bank and Debt Management Office plan N5.40 trillion in Treasury bill offers between October and December 2026, with nearly 76% in 364-day instruments, a structure that largely rolls over maturing obligations rather than raising new money.

Africa's largest cement producer has appointed Goldman Sachs and UBS as bookrunners for a London secondary listing that could raise about $1 billion as early as November, with investor meetings due to begin on October 27 in London, South Africa and Dubai.

Ten leading stocks on the Nigerian Exchange account for N115.98 trillion, or about 71 per cent of the bourse's equity market value of around N160 trillion, underscoring high market concentration.

The IMF's October Regional Economic Outlook upgraded Sub-Saharan Africa's 2026 growth forecast to 4.5% while warning that bilateral aid will fall another 12% after dropping about a quarter in 2025.

Guinea Insurance shares have risen 42.86 per cent in October 2026, breaking eight months of declines, as the company's recapitalisation and fresh capital raise investor interest despite a wider H1 loss.

Gabon sold $580 million of eight-year Eurobonds on 14 October with a 9.375 per cent coupon, drawing close to $1 billion in orders and trimming its risk premium despite higher US rates.

The Debt Management Office has offered N1.75 trillion in FGN bonds for subscription ahead of Monday's auction, with three tranches across 2034, 2036 and 2038 and settlement set for 21 October 2026.

Bullion climbed to about $4,145 an ounce on central-bank buying and rate-cut bets, diverging from crude in a market that is hedging rather than celebrating.

Brent slipped toward $104 and WTI to about $94 as supply-route fears eased, a move with direct consequences for Nigeria's budget and FX earnings.

The naira strengthened at the official window while holding near N1,358 in the parallel market as traders positioned for the September inflation release.

US consumer prices rose 3.7 per cent year on year in September, above expectations, jolting global markets and lifting bets that the Federal Reserve may raise rates.

The Debt Management Office raised N450 billion at its treasury bills auction on Wednesday, leaning on the 364-day tenor as the market's primary pipeline climbed above N3 trillion.

The Nigerian Exchange closed higher on Wednesday as late buying in banking and selected industrial counters lifted market value by N103.90 billion, ending two sessions of declines.

South Africa's Allan Gray is favouring Nigerian equities over South Korea's Kospi, arguing Nigeria's rally is broad-based while the Kospi is narrowly concentrated.

Brent crude rose to about $107 a barrel as Middle East attacks threatened supply through the Strait of Hormuz, a windfall and a cost for Nigeria.

Nigeria's stock market has surged about 66% this year on domestic money alone, raising the question of how durable a rally can be without foreign investors.

Multi-Trex Integrated Foods shares have risen 17.95% since the NGX lifted an eight-year trading suspension, even as the cocoa processor remains loss-making.

Nigeria's 36 states and the FCT collected N2.64 trillion in PAYE taxes in 2025, a 40.3% rise, as personal income tax dominated sub-national revenue.

Nigeria's banking system is expected to absorb about N13.25 trillion in liquidity inflows in October, the FMDA estimates, as the CBN manages excess cash.

The Debt Management Office plans to raise N5.75 trillion through FGN bond auctions in October, November and December, as domestic borrowing rises.

The NGX All-Share Index fell 0.09% to 247,513.63 as profit-taking in heavyweight stocks wiped N144.54 billion off market capitalisation.

Nigeria-founded fintech Yellow Card has launched in Canada weeks after closing a $40 million funding round, as it pivots from consumer crypto trading to business-to-business stablecoin payments across emerging markets.

Foreign capital importation into Nigeria rose by more than 83 percent year-on-year in the first quarter of 2026, led by portfolio investments as global investors returned to the country's money and bond markets.

Nigeria's pension fund assets have grown beyond N31 trillion and now cover more than 11 million retirement savings account holders, with the regulator pushing to channel more of the money into infrastructure and the capital market.

The initial public offering of Dangote Petroleum Refinery and Petrochemicals was scheduled to close on October 13, 2026, a landmark test of whether Nigerian retail investors will buy into the country's biggest company.

The naira held broadly steady around N1,370 to the dollar as stronger reserves, tighter policy and returning portfolio inflows kept the currency within a narrow range.

Turnover on the Nigerian Exchange rose to N158.29 billion in the first full trading week of October as investors repositioned ahead of third-quarter earnings.

Fitch Ratings has revised Nigeria's credit outlook to Positive from Stable, citing sustained reforms, disinflation and improved foreign reserves of $54.9 billion.

Dangote Petroleum Refinery has pushed the close of its $1.6 billion IPO to October 27, giving investors more time to subscribe to Africa's biggest listing.

Nigeria's equities market fell for a second straight session on October 13, with the All-Share Index slipping 0.09% as investors booked profits in large-cap stocks after a record run.

Airtel Money has debuted on the London Stock Exchange in one of the largest African listings in years, with a planned secondary listing in Lagos.

JPMorgan missed expectations as Goldman Sachs and Citigroup posted strong results in a mixed opening to the US bank earnings season.

The US banking giant plans to establish a merchant bank in Nigeria before the end of 2026 and has added the country to a new emerging-market bond index, in twin votes of confidence for the capital market.

The All-Share Index fell 0.97% in the week ended 9 October, while trading value increased despite a drop in share volume.

The Session Is Far From Ordinary VFDGROUP's combination of a new 52-week high, exceptional turnover, record-level volume and a sharp...

The latest decline puts OANDO on course for a fifth consecutive losing session , extending a run that has taken the stock from ₦36.15 at...

Two Insiders, One Price The transactions were made at the same price, giving the combined acquisition an average price of N6.75 per...

A Major Shift in Trading Activity The 88.73 million shares traded represented about 184% above GTCO's 30-day average volume , based on...

At the same time, liquidity in the banking system has increased sharply, with estimates pointing to a potential rise toward ₦8.57tn this...

TRANSCOHOT Breaks Into New High as 4% Open Surge Draws Heavy Volume TRANSCOHOT pushed into fresh territory at the NGX open on Tuesday...

A Sharp Move From a Large-Cap Stock GTCO's early decline stands out because the stock had recently moved higher from ₦130, reaching ₦137...

NPFMCRFBK Rebounds 10% at NGX Open After Monday Sell-Off NPFMCRFBK staged one of the sharpest reversals at the NGX open, jumping 10% to...

UPL and CMFC Lead the Price Movers University Press led the gainers with a 9.89% increase to ₦5, narrowly ahead of CMFC, which rose...

The official NFEM rate moved only N1.5 against the naira, but the parallel-market rate weakened by N4 from the previous weekend and the...

A sustained run in financial-sector stocks lifted the value of the Nigerian Exchange to a record N164 trillion at the end of September, capping one of the strongest equity rallies in years.

Shareholders approved a final 70-kobo payment, taking the full-year distribution to N1 per share after an interim dividend.

The secured overnight reference rate is intended to improve pricing transparency and give financial contracts a more reliable base rate.