Melvin Atako

MARKET OVERVIEW & WEEKLY COMMENTARY: 13th–17th JULY 2026

The NGX recorded one of its strongest weeks in recent months, driven by a broad-based rally in large-cap banking stocks as investors rotated aggressively into financial names. First HoldCo PLC led the market with an exceptional +38.66% gain to ₦95.95, marking one of the strongest single-week performances by a major banking stock in recent history. …

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DMO to Raise N1.2 Trillion Through Reopening of Three FGN Bonds in July Auction

The Debt Management Office (DMO) has announced plans to raise up to N1.2 trillion through the reopening of three Federal Government of Nigeria (FGN) bond instruments as part of its domestic borrowing programme. Details of the offer were contained in an Offer Circular released on July 14, 2026, with the bond auction scheduled for July …

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Nigeria’s FX Market Activity Drops Sharply as Weekly Turnover Falls to $1.63 Billion

Nigeria’s foreign exchange market experienced a significant slowdown during the week ended July 10, 2026, with total turnover across the FX Spot and Derivatives segments declining by 46.57% to $1.631 billion from $3.053 billion recorded in the previous week. The decline represents a reduction of approximately $1.42 billion in weekly transaction value and marks the …

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CBN T-Bill Auction Sees Strong Demand for One-Year Instruments

The Central Bank of Nigeria’s Treasury Bills auction held on July 8, 2026, revealed sustained investor preference for longer-term government securities as participants sought to secure higher yields amid elevated interest rates. Although the apex bank offered a total of ₦700 billion across the 91-day, 182-day, and 364-day maturities, total allotments reached approximately ₦1.06 trillion …

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DMO Targets Nearly N4 Trillion in FGN Bond Auctions for Third Quarter of 2026

The Debt Management Office (DMO) has released its provisional Federal Government of Nigeria (FGN) Bond Issuance Calendar for the third quarter of 2026, outlining plans to raise approximately N4 trillion through a series of monthly bond auctions. The issuance schedule covers auctions slated for July 20, August 17, and September 14, 2026, with the agency …

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