Nigeria's foreign exchange utilisation reached $18.34 billion in Q2 2026, its highest quarterly level since Q3 2011. Services and financial payments, rather than merchandise imports, drove the increase.
Fitch Ratings revised the outlooks on nine Nigerian banks and two bank holding companies to Positive from Stable, following a sovereign rating action. The provided report does not identify the institutions, so no specific listed bank can be linked to the revision.
Power Minister Joseph Tegbe said there are no plans to increase electricity tariffs. The item also reports that the Rural Electrification Agency is advancing power supply through a 17.7-megawatt mini-grid in Ibadan.
The Nigerian equity market gained N21.74 billion on Thursday, October 15, 2026, extending its rally for a second consecutive day. Aradel and Oando were identified as contributors to the market’s advance.
CBN Governor Olayemi Cardoso said Nigeria’s monetary and foreign-exchange reforms have strengthened the country, as IMF leaders discussed global economic resilience. The remarks relate to Nigeria’s macroeconomic policy environment and may be relevant to investors in NGX-listed equities.
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