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

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.

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

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.

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.

The European Union's ambassador to Nigeria, Gautier Mignot, says the country probably has the world's largest number of people living below the poverty threshold, and announced nearly E45 million in humanitarian assistance for 2026 plus E20 million in defence support.

The National Bank of Ethiopia and PAPSS announced Ethiopia's entry into the continental payments network, enabling local banks to settle cross-border transactions in African currencies without routing through dollar or euro corridors.

The European Bank for Reconstruction and Development agreed a $20.9 million project financing with Beacon Power Services to deploy smart meters across six Nigerian distribution companies.

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.

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.

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 Federal Government, the European Union and the European Bank for Reconstruction and Development signed a €14 million grant in Abuja to fund preparation of a planned 90,000-kilometre national fibre-optic backbone, though the money covers design and capacity building, not deployment.

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.

Asia's cocoa grindings jumped 29.2% in Q3 2026 and Europe's rose 3.2%, pushing prices higher as demand recovers, with implications for Nigeria and Cote d'Ivoire.

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