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Nigeria’s inclusion in JPM organ’s emerging markets bond indices for eurobonds is not affected by its exclusion from the index series for Federal Government of Nigeria (FGN) bonds, and with good reason. Eurobonds are broadly traded on the sovereign’s external balance sheet, whereas the FGN exclusion was driven by the Central Bank of Nigeria’s...

Given the difficulties experienced by Nigeria’s economy in 2016, every sector grappled with challenges, and capital markets were no exception. From external pressures such as low oil prices and US interest rate shifts, to internal factors such as depreciation and slowing oil production, investors in Nigeria had to account for a range of risks...

Despite the challenges to Nigeria’s economy, many of the country’s banks enjoyed healthy revenue and asset growth in 2016. Asset quality issues continue to hinder the sector, but banks have found avenues outside of lending activities to expand their balance sheets.

Boasting Africa’s largest economy and population, but facing a number of structural constraints, Nigeria is a market ripe for digital disruption. It benefits from a high level of internet and mobile penetration. It also skews young: by 2020, roughly half of the country’s population will be under the age of 25.

Financial intermediation – the process of matching savers with borrowers – is a primary function of the banking sector. Intermediation channels excess funds towards productive uses, spreading the risk across a bank’s entire depositor base so no single saver bears the losses in the event of a loan default. However, in Nigeria intermediation is...

While Nigeria’s economy remains largely cash-based, there has been an increased focus since 2012 on reducing inefficient cash transactions. According to the Central Bank of Nigeria (CBN), an excess of currency in circulation has hindered plans to stabilise prices. In addition, the costs associated with currency sorting, cash management,...