Emele Onu

The outlook is mixed for major African currencies going into the next year, with South Africa's rand set to outperform and Nigeria's naira facing more pain before things get better, according to Ebury Partners Ltd.

Four of the seven African currencies monitored by Ebury are seen holding their ground or gaining in 2025.

Nigeria’s central bank and the International Finance Corp. signed an agreement to facilitate local-currency financing, hoping to boost demand for naira while helping firms to avoid the the exchange-rate risk of borrowing in foreign currencies.

Nigeria’s biggest bank is considering selling dollar-denominated securities in the domestic market to fund its expansion plans and meet capital rules set by the central bank.

Nigeria’s biggest banks’ share prices are set to rally after record high interest rates boosted profits, according to brokers.

(Bloomberg) -- Nigeria's biggest banks' share prices are set to rally after record high interest rates boosted profits, according to brokers.

Nigerian Chief of Army Staff Taoreed Lagbaja has died following a period of illness, the presidency said.

Record-high fixed-income yields and central bank intervention have failed to stem the naira's slide, with the Nigerian currency hitting a fresh record low this week.

Nigeria expects a 30% increase in crude and condensate output as authorities strengthen security around the nation’s oil infrastructure and incentives in the sector attract investment, even though the gain could cross its OPEC+ commitment to limit production.

(Bloomberg) — Nigeria expects a 30% increase in crude and condensate output as authorities strengthen security around the nation's oil infrastructure