The Central Bank of Nigeria (CBN) has absorbed about ₦4.686 trillion from the financial system through Open Market Operations (OMO), almost twice the ₦2.433 trillion in OMO bills that matured on the same day. The September 29 auction saw the apex bank allot nearly ₦2.19 trillion above its initial ₦2.5 trillion offer, highlighting strong investor demand for the short-term securities. The latest operation brings the CBN’s OMO sales for September to about ₦17.5 trillion across five auctions. Investors submit ₦6.4tn bids Investors submitted a combined ₦6.399 trillion in bids across three instruments offered at the auction, representing demand of about…
Author: Abdoulaye Kay
Investor confidence in the Dangote Petroleum Refinery IPO is rising amid projections that Dangote Group could generate about $36 billion in revenue in 2026, driven by strong performance across its businesses and expansion plans across Africa. Dangote Group’s Chief Strategy Officer, Aliyu Suleiman, said the group generated about $17 billion in revenue in the first half of 2026 and is on course to double its 2025 revenue of $18 billion by year-end. The revenue outlook has strengthened investor interest in the Dangote Petroleum Refinery, with subscribers citing its scale, strategic position and expansion plans as key factors behind their investment…
The Central Bank of Nigeria (CBN) has offered N2.5 trillion through a fresh Open Market Operations (OMO) auction as N2.433 trillion in maturing OMO instruments is due for repayment to investors on Tuesday, September 29, 2026. The near one-for-one transaction comes as the apex bank moves to manage liquidity in the banking system, where banks had placed about N6.278 trillion with the CBN’s Standing Deposit Facility (SDF) as of September 29. The latest figure was up from N6.014 trillion on September 28 and N5.899 trillion on September 25. Under the auction notice, the CBN is offering N500 billion through a…
Nigeria’s foreign exchange market is showing greater stability, with stronger external reserves, improved FX liquidity and monetary policy measures helping to limit pressure on the naira, according to a market assessment by Nairametrics. The Central Bank of Nigeria’s (CBN) latest policy reset, which cut the Monetary Policy Rate (MPR) by 350 basis points from 26.5% to 23%, has so far not triggered a renewed slide in the currency. The official exchange rate has remained around N1,327-N1,330 per dollar, while the gap with the parallel market has narrowed significantly. Nairametrics reported that the stronger position is being supported by rising external…
The Joint Admissions and Matriculation Board (JAMB) has fully restored its Central Admissions Processing System (CAPS), following a temporary disruption that affected the platform during the ongoing 2026/2027 admission exercise. With CAPS now operational, the Board has directed tertiary institutions to accelerate their admission processes and recover time lost during the disruption. Candidates who receive admission offers have also been advised to promptly accept them through the platform. JAMB maintained that the approved admission deadlines remain unchanged. Public universities are expected to conclude their admission processes by October 31, 2026, private universities by November 30, while polytechnics, colleges of education…
Nigerian banks have yet to significantly reduce lending rates nearly a week after the Central Bank of Nigeria (CBN) cut its Monetary Policy Rate (MPR) by 350 basis points from 26.5% to 23%. The September 22 decision was the largest MPR reduction in nearly two decades, but lending rates across banks remain between about 20% and 46%, depending on borrower risk, funding costs and individual banks’ pricing models. Checks by Nairametrics indicate that some lenders are still assessing the implications of the policy change. An official at one Tier 1 bank said there were no immediate plans to reduce lending…
The Nigerian banking system could see liquidity rise to about N8.57 trillion this week as maturing Open Market Operations (OMO) instruments and bond coupon payments release additional funds into the financial system. Net system liquidity had already climbed to N5.98 trillion by September 25, from N2.86 trillion a week earlier, according to an analysis of the Central Bank of Nigeria (CBN) financial data. About N2.43 trillion in OMO maturities is scheduled for settlement, while bond coupon payments could inject a further N164 billion. If the funds remain within the system, the combined inflow could push liquidity to approximately N8.57 trillion.…
Investors submitted N20.58 trillion in bids across the Central Bank of Nigeria’s (CBN) four Open Market Operations (OMO) auctions in September, more than five times the N3.9 trillion offered. The CBN ultimately allotted about N12.823 trillion, with demand remaining strong across all four auction sessions held on September 1, 8, 16 and 24. The September 8 auction recorded the highest single-session demand, attracting N6.306 trillion in subscriptions against a N1 trillion offer, while N4.397 trillion was allotted. The September 24 auction also attracted N5.741 trillion against N900 billion offered. At the same time, OMO rates declined significantly. The rate on…
Nigeria’s external reserves increased by $9.29 billion in the first nine months of 2026, reaching $54.86 billion by September 24, according to Central Bank of Nigeria (CBN) data. The increase represents a 20.4% rise from the $45.57 billion recorded on January 2 and is more than seven times the $1.32 billion increase recorded during the corresponding period of 2025. The reserves crossed several major thresholds during the year, rising above $50 billion in June, $53 billion in August and $54 billion in September. The latest figure is also $3.82 billion higher than the CBN’s projected year-end reserve level of $51.04…
Dangote Cement Transport has won the Champion of Transport Industry Development Award from the Transport Correspondents Association of Nigeria (TCAN) for its contributions to road transport operations, safety standards and logistics efficiency in Nigeria. The award was presented at the 3rd Transport Summit organised by TCAN in Lagos, which brought together key stakeholders, policymakers, regulators and industry leaders to discuss strategies for transforming Nigeria’s transport sector and promoting sustainable growth. Leader of the Dangote Cement delegation and Head of Dangote Cement Transport, Mr Murilo Silva, received the award on behalf of the transport management. Silva said the recognition reflected the…