By Adedapo Adesanya

The Governor of Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said interventions by the lender quelled Nigeria’s inflation from hitting a 42 per cent high.

Speaking at the 2025 Monetary Policy Forum with the theme Managing the Disinflation Process in Abuja, he said without the decisive policy interventions undertaken by the bank to reign in rising prices, inflation could have reached 42.81 per cent by December 2024.

Nigeria’s inflation rate rose for the fourth straight month to 34.8 per cent in December 2024, up from 34.6 per cent in the prior month.

Mr Cardoso also noted that the liquidity injections associated with unorthodox monetary policies, particularly since the COVID-19 pandemic, had created a significant overhang.

He added that while these measures were intended to cushion immediate shocks, they did not translate into commensurate productivity growth, fueling inflationary pressures, and heightened foreign exchange volatility.

The apex bank chief also said excess Naira liquidity in the system had amplified demand-driven inflation, further exacerbated by supply-side constraints stemming from structural deficits.

The CBN governor also said recent reforms in the nation’s Foreign Exchange (FX) segment have continued to attract foreign investors into the economy, vowing that the monetary authority will do everything possible to ensure that current inflows continue.

Mr Cardoso noted that cautious optimism was emerging globally around potential improvements in capital flows to emerging markets, as advanced economies transition toward monetary easing.

He noted that Nigeria’s ability to sustain these inflows will depend on investor confidence in domestic reforms, particularly those ensuring macroeconomic stability and delivering positive real returns on investment.

“However, we must remain committed to bold, coordinated policy measures to consolidate our progress” he said, adding that for inflation to be defeated, it required serious collaboration between the fiscal and monetary side.

The CBN governor said these dynamics underscored the importance of a disciplined and coordinated approach to monetary policy to restore stability.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange headed southwards by 0.02 per cent on Thursday, January 30 despite recording three price gainers led by Okitipupa Plc, which gained N6.38 to trade at N70.13 per share versus the preceding day’s N63.75 per share.

Further, First Trust Microfinance Plc appreciated by 4 Kobo to finish at 47 Kobo per unit compared with Wednesday’s closing price of 43 Kobo per unit, and FrieslandCampina Wamco Nigeria Plc jumped by 26 Kobo to N38.94 per share from midweek’s N38.68 per share.

However, the 16 Kobo loss suffered by Food Concepts Plc, which ended the session at N1.44 per share versus the previous trading day’s N1.60 per share, left the platform in the hands of the bears.

Consequently, N370 million was chucked off the market capitalisation of the bourse to remain relatively unchanged at N1.769 trillion as the NASD Unlisted Security Index (NSI) declined by 0.65 points to close at 3,123.05 points, in contrast to the 3,123.70 points it ended a day earlier.

The volume of securities traded at the bourse during the session went down by 88.9 per cent to 1.7 million units from the 14.9 million units recorded on Wednesday, but the value of shares transacted by investors increased by 46.3 per cent to N44.1 million from N30.1 million, and the number of deals expanded by 10.7 per cent to 31 deals from 28 deals.

Impresit Bakolori Plc ended the day as the most active stock by value (year-to-date) with 406.5 million units worth N386.1 million, followed by FrieslandCampina Wamco Nigeria Plc with 4.3 million units valued at N170.4 million, and Geo-Fluids Plc with 9.1 million units sold for N44.3 million.

Impresit Bakolori Plc was also the most active stock by volume (year-to-date) with 406.5 million units worth N386.1 million, trailed by Industrial and General Insurance (IGI) Plc with 26.3 million units sold for N6.3 million, and Geo-Fluids Plc with 9.2 million units valued at N44.3 million.

By Adedapo Adesanya

It is not the best of times for speculators in the Nigerian foreign exchange (FX) market as the recently policies of the Central Bank of Nigeria (CBN) are taking a toll on them.

This week, the central bank further tightened its belt with the introduction of an FX code to enhance exchange rate market transparency and it is making forex speculators to lose money.

On Thursday, the Nigerian Naira appreciated further by 1.64 per cent or N24.77 against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to sell below N1,500/$1 for the first time in several months.

Data obtained by Business Post from the FMDQ Securities Exchange showed that the local currency was exchanged with the Dollar yesterday in the official market at N1,485.95/$1 compared with the preceding day’s N1,510.72/$1.

In the same spot market, the domestic currency traded flat against the Pound Sterling and the Euro during the session at N1,871.77/£1 and N1,568.58/€1, respectively.

A for the parallel market, the Naira improved its value against its American counterpart on Thursday by N10 to close at N1,610/$1, in contrast to midweek’s price of N1,620/$1.

In the cryptocurrency market, it was mixed, with profit-taking occurring amid Mr Donald Trump’s tariff plans among his slew of policy directions.

Crypto investors expect a change from President Trump who promised on the campaign trail to position the US as a leader in the crypto space.

Ethereum (ETH) gained 2.6 per cent to trade at $3,271.10, Litecoin (LTC) rose by 1.9 per cent to $130.06, Binance Coin (BNB) went up 0.7 per cent to $680.42, Solana (SOL) expanded by 0.1 per cent to $238.29, and Cardano (ADA) added 0.04 per cent to finish at $0.9618.

On the flip side, Ripple (XRP) slumped by 0.7 per cent to $3.09, Dogecoin (DOGE) lost 0.3 per cent to sell at $0.3303, and Bitcoin (BTC) slid by 0.2 per cent to $104,775.74, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 apiece.