Economy
Naira Appreciates to N1,396 Per Dollar at Official FX Market
By Adedapo Adesanya
The Naira appreciated further on the Dollar in the the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, January 29 by N3.49 or 0.25 per cent to N1,396.99/$1 from the previous session’s N1,400.48/$1.
This was supported by foreign portfolio inflows from a recent bond auction and relatively subdued Dollar demand.
Year old reforms in the FX market as well as structural reforms in the oil sector have eased fears and buoyed investments, boosting foreign capital inflows and stronger diaspora remittances.
Also, the weakening of the Dollar has lent support as the American currency hit a four-year low triggered by tariff uncertainty, policy volatility including threats to US Federal Reserve independence, and rising fiscal deficits.
It also improved its value against the Euro in the official FX market yesterday by N3.75 to quote at N1,671.78/€1 versus midweek’s rate of N1,675.53/€1, but lost N2.05 against the Pound Sterling to trade at N1,932.04/£1 versus Wednesday’s closing rate of N1,929.99/£1.
In the parallel market, it gained N10 against the US Dollar to settle at N1,470/$1 compared with the previous session’s exchange rate of N1,480/$1 but remained unchanged at N1,426/$1 at the GTBank forex desk.
Market traders expect the Naira to remain fairly stable and could strengthen further with a bond auction in the coming week.
Meanwhile, the cryptocurrency market was weaker as traders reacted to reports that US President Donald Trump would nominate former Federal Reserve Board member, Mr Kevin Warsh, to replace current Federal Reserve Chair, Mr Jerome Powell. It is believed that Mr Warsh is bearish on crypto.
President Trump said late Thursday he would name his nominee on Friday morning, a day after lambasting Mr Powell and the US central bank for not choosing to reduce rates. The US Federal Reserve left interest rates unchanged at its meeting on Wednesday.
Cardano (ADA) fell by 8.1 per cent to $0.3225, Ethereum (ETH) declined by 7.9 per cent to $2,718.16, Solana (SOL) slipped by 7.6 per cent to $113.90, Ripple (XRP) crashed by 7.3 per cent to $1.74, Litecoin (LTC) went down by 6.8 per cent to $63.55, Bitcoin (BTC) depreciated by 6.7 per cent to $82,292.42, Binance Coin (BNB) decreased by 6.6 per cent to $839.47, and Dogecoin (DOGE) retreated by 7.1 per cent to $0.1131, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
Economy
Linking Macroeconomic Trends to Personal Financial Goals Vital—Delano
By Aduragbemi Omiyale
The Executive Director for Personal and Private Banking at Stanbic IBTC, Mr Olu Delano, has stressed the need to link macroeconomic trends to personal financial goals.
At the 2026 Regional Economic Outlook Series of Stanbic IBTC recently, he said, “Whether planning for retirement, funding education abroad, or expanding a business, improved stability creates opportunities. But those opportunities require careful structuring around foreign exchange dynamics, inflation trends, and interest rate movements.”
Business Post reports that the regional investor summit was designed to provide high-net-worth individuals, investors, business leaders, and senior executives with clarity in a rapidly evolving economic environment.
Hosted in Lagos, Abuja, and Port Harcourt, the series served as a strategic platform for translating Nigeria’s reform momentum into practical investment and business decisions.
It featured a keynote address by Professor Adedipe, whose insights set a strong analytical foundation for the conversations that followed. His presentation unpacked structural reforms, fiscal recalibration, and the direction of monetary policy, offering attendees a comprehensive perspective on Nigeria’s growth trajectory and the discipline required to sustain macroeconomic stability.
Across all three cities, Stanbic IBTC’s subject matter experts and industry professionals moved the discussion from macroeconomic signals to market strategy. Sessions were structured to bridge economic context with sector-specific opportunities, portfolio construction frameworks, and risk management considerations. The focus extended beyond understanding the environment to making informed, disciplined decisions within it.
A recurring theme throughout the summit was the evolving monetary policy cycle. Discussions examined the Central Bank of Nigeria’s tight stance in addressing inflationary pressures and stabilising the currency.
Participants also considered the potential implications of a gradual policy easing cycle, particularly for fixed income instruments, equity positioning, and broader asset allocation strategies. Emphasis was placed on timing, selectivity, and portfolio resilience.
Beyond markets, the conversations addressed the practical realities of wealth and business strategy. High net worth individuals gained clarity on diversification, currency exposure, and inflation management, while business leaders explored how improving macroeconomic stability can support capital allocation decisions and long-term expansion plans.
The chief executive of Stanbic IBTC Asset Management, Ms Busola Jejelowo, reflected on the quality of engagement across the regions.
She noted that the depth of questions and analytical rigour demonstrated a maturing investment culture and a growing appetite for data-driven strategies.
According to her, the series was not only about presenting forecasts, but about equipping clients with structured frameworks for navigating uncertainty.
Economy
Coronation Registrars Processes N1.28trn Dividends for Stock Investors
By Adedapo Adesanya
Coronation Registrars Limited processed N1.28 trillion in dividends for the year 2025, representing over 40 per cent of the total dividends distributed on the Nigerian Exchange (NGX) Limited.
This information was revealed by the company in its 2025 performance scorecard, highlighting its continued role in supporting transparency, efficiency, and investor confidence within Nigeria’s capital market.
According to the company, the performance underscores its scale and the trust placed in it by leading publicly listed companies, which it helps in administering dividend processing. Other functionalities include managing shareholder records, corporate actions, and investor communications while ensuring compliance with regulations of the NGX and the Securities and Exchange Commission (SEC).
Coronation Registrars also recorded 34.8 per cent market share of the NGX by market capitalisation, while maintaining 64 per cent coverage of companies listed on the NGX Premium Board, reflecting strong partnerships with some of Nigeria’s largest and most influential issuers.
Operationally, the registrar facilitated 1.99 million buy and sell transactions in 2025, while managing 2.91 million shareholder accounts across its registrar’s portfolio.
The organisation also continued to address the longstanding issue of unclaimed dividends. In 2025, N3.67 billion in legacy unclaimed dividends was successfully returned to investors, helping reconnect shareholders with previously outstanding entitlements.
To further strengthen shareholder record accuracy and service efficiency, Coronation Registrars processed over 513,000 Know-Your-Customer (KYC) and shareholder account updates, including Clearing House Number (CHN) updates and record changes.
Commenting on the milestone, the Managing Director of Coronation Registrars Limited, Mr Seyi Owuturo, stated, “Our 2025 scorecard reflects the responsibility we carry as custodians of shareholder records and facilitators of dividend distribution for many of Nigeria’s leading companies. We remain committed to improving investor access, strengthening operational efficiency, and supporting the continued development of Nigeria’s capital market.”
Coronation Registrars said it remains focused on leveraging technology, operational excellence, and strong issuer partnerships to deliver reliable registry services while supporting the evolving needs of shareholders and listed companies.
Economy
Union Dicon Salt Raises Alarm Over Inability to Reach Major Shareholder
By Adedapo Adesanya
Union Dicon Salt Plc has raised an alarm that it has been unable to establish contact with Aims Limited, which holds a significant equity stake in the company, stalling its revival plans.
In a formal announcement issued to the Nigerian Exchange (NGX) Limited, shareholders and the investing public, Union Dicon Salt, said Aims Limited owns 64 million shares, representing 40 per cent of the company’s issued share capital, effectively positioning it as one of the most influential shareholders in the listed salt manufacturing firm. Aims Limited is a Brazilian company.
This development, according to the statement signed by Mr Alfred E. James, the company secretary, has raised fresh questions about shareholder communication and governance oversight within Nigeria’s listed companies.
The company disclosed that repeated attempts to communicate with the shareholder have so far been unsuccessful, prompting the unusual step of issuing a public notification in compliance with provisions of the exchange’s rulebook governing disclosures by listed issuers.
“In line with the provisions of 17.5 Rule Book of the Exchange 2015 (Issuers Rules), Union Dicon Salt Plc hereby notifies the Nigerian Exchange Limited, shareholders of the company, and the general public,” the notice stated, before outlining the inability to reach the shareholders despite several efforts.
Union Dicon Salt Plc said the public disclosure is intended to formally request that Aims Limited immediately establish contact with the company through its corporate offices located at Kirikiri Lighter Terminal, Kirikiri Phase 2, Apapa, Lagos, or through the office of the company secretary.
Established in 1984, the Company operates a 60 – 40 per cent joint venture between the Defence Industries Corporation of Nigeria (DICON) and its technical partners, Aims. In 1987, it established a factory at Kirikiri Lighter Terminal in Lagos, where Dicon Salt was importing bulk salt, doing some refining processes, and selling the product through the company’s established network. Its products include pure, refined, and iodised edible salts.
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