By Adedapo Adesanya

The Naira improved its value against the US Dollar by N7.64 or 0.56 per cent in the the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, February 16 to N1,347.78/$1, in contrast to the preceding session’s N1,355.42/$1.

In the same vein, the local currency appreciated against the Pound Sterling in the official market yesterday by N5.41 to sell for N1,839.18/£1 versus last Friday’s closing price of N1,844.59/£1, and gained N9.78 on the Euro to close at N1,598.06/€1 compared with the N1,607.93/€1 it was traded in the previous trading day.

However, at the GTBank forex counter, the Naira lost N2 against the greenback to quote at N1,367/$1 versus the preceding session’s closing value of N1,365/$1, and at the parallel market, it remained unchanged at N1,420/$1.

The currency’s gain was supported by improved FX supply levels after last week’s elevated demand pressures. Licensed Bureaux De Change (BDC) operators fully entered into the official segment taking away some of the delayed demand.

Their presence is expected to boost liquidity and flow while other supply sources including exporters , non-bank corporate, and other market participants pause stoked pressures on the exchange rate.

Latest update revealed that Nigeria’s gross external reserves stayed stronger, adding $135.76 million day-on-day, bringing the total reserves to $47.81 billion.

Further support also came as the National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate decelerated to 15.10 per cent in January, down from the 15.15 per cent recorded in December 2025. The January 2026 print showed a decrease of 0.05 per cent compared to the December 2025 Headline inflation rate while on an annualised basis, it was 12.51 per cent lower than the rate recorded in January 2025 (27.61 per cent).

This development strengthens the case for a rate cut when the Monetary Policy Committee (MPC) meets next week.

In the cryptocurrency market, the tokens tracked ended in green as traders remained cautious despite US interest rate data raising odds of rate cuts by the Federal Reserve in June after a report that showed inflation rose less than expected in January.

The backdrop of the weak US consumer price index data released last week that kept hopes of the US central bank rate cuts alive.

The CPI growth slowed to 2.4 per cent year-on-year in January from 2.7 per cent in December, the official data showed, reinforcing expectations for at least two 25 basis point rate cuts.

Cardano (ADA) added 2.8 per cent to trade at $0.2861, Litecoin (LTC) improved by 2.2 per cent to $55.09, Solana (SOL) appreciated by 1.9 per cent to $86.42, Binance Coin (BNB) jumped 1.8 per cent to $623.25, Ripple (XRP) grew by 1.5 per cent to $1.47, and Ethereum (ETH) soared by 0.9 per cent to $1,977.54.

On the flip side, Dogecoin (DOGE) depleted by 1.9 per cent to $0.0999, and Bitcoin went down by 0.2 per cent to $68,300.03, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited recorded its highest single day growth in 2026 after it chalking up 4.36 per cent on Monday, helping the two market indices hit their all-time highs.

According to data from Customs Street, the All-Share Index (ASI) soared during the session by 7,949.36 points to 190,262.44 points from last Friday’s 182,313.08 points, and the market capitalisation surged by N5.103 trillion to N122.130 trillion from the preceding session’s N117.027 trillion.

A look at the sectorial performance showed that the industrial goods counter expanded by 7.77 per cent, the energy space rose by 4.73 per cent, the banking sector grew by 4.71 per cent, the insurance industry improved by 2.45 per cent, and the consumer goods segment jumped 1.44 per cent.

Business Post reports that investor sentiment remained bullish, as the bourse finished with 57 appreciating stocks and 27 depreciating stocks, implying a positive market breadth index.

Jaiz Bank, Beta Glass, Ikeja Hotel, Zichis and Aradel Holdings all chalked up 10.00 per cent each to sell for N9.13, N453.20, N41.80, N11.88, and N1,096.70, respectively.

However, RT Briscoe lost 9.99 per cent to trade at N15.68, Deap Capital decreased by 9.91 per cent to N7.64, Caverton crashed by 962 per cent to N7.05, Guinea Insurance shrank by 9.27 per cent to N1.37, and Tantalizers dropped 8.11 per cent to quote at N5.10.

Yesterday, market participants bought and sold 1.1 billion shares valued at N64.0 billion in 64,821 deals compared with the 936.4 million shares valued at N52.7 billion transacted in 50,068 deals last Friday, indicating an uptick in the trading volume, value, and number of deals by 17.47 per cent, 21.44 per cent, and 29.47 per cent apiece.

Access Holdings remained very active at the market, further closing as the busiest on Monday with 86.7 million units worth N2.3 billion, Oando sold 73.5 million units for N3.2 billion, Zenith Bank exchanged 69.3 million units valued at N5.9 billion, Mutual Benefits transacted 67.1 million units for N289.1 million, and Japaul traded 49.2 million units worth N135.6 million.

By Adedapo Adesanya

Oil prices moved up on Monday as investors weighed the implications of the forthcoming US-Iran talks aimed at de-escalating tensions against a backdrop of expected supply increases by the Organisation of the Petroleum Exporting Countries and allies (OPEC+).

Brent crude futures appreciated by 90 cents or 1.33 per cent to trade at $68.65 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 86 cents or 1.37 per cent to close at $63.75 a barrel.

Fears of supply disruption from the US-Iran tensions have helped keep oil prices stable. The two countries are due to hold a second round of talks in Geneva, Switzerland, on Tuesday over Iran’s nuclear programme.

Iran has repeatedly threatened to close the Strait of Hormuz in retaliation against any attack, which would choke a fifth of global oil flows and send crude prices sharply higher.

Comments from US President Donald Trump that it could make a deal with Iran over the next month with US Secretary of State Marco Rubio emphasizing that the Trump administration prefers diplomacy with Iran, though military options remain implicitly on the table.

Iran signaled willingness to dilute 60 per cent enriched uranium but insists sanctions relief must be part of any agreement.

This comes ahead of new US-Iran talks in Geneva on February 17. The US delegation will include envoys Mr Steve Witkoff and Mr Jared Kushner, with representatives from Oman acting as mediators. Oman hosted indirect talks between Iran and the US earlier in February.

Ahead of the meeting, Iran’s foreign minister met with Mr Rafael Grossi, the head of the International Atomic Energy Agency (IAEA), the UN nuclear watchdog, on Monday.

Market analysts have warned that increased Iranian tension could drive Brent to $80 a barrel, while fading tension would drop it back to $60 a barrel.

OPEC+ is dampening oil prices as it appears the alliance is leaning toward a decision at their March 1 meeting to resume output increases from April after a three-month halt.

Oil prices also were supported by China’s continued strong crude imports and by some disruptions in oil exports.

China’s imports of Russian oil are set to climb for a third straight month in February, hitting a new record, after India slashed purchases following US pressure.