Business
Naira Strengthens Amid Rising Liquidity and Inflows
Naira strengthens to 1,351/$ at official market as liquidity and foreign inflows support the currency, signalling growing stability
The Nigerian naira maintained its appreciation streak at the official Foreign Exchange Market, closing at 1,351.02 per dollar on Tuesday, supported by improved liquidity and steady foreign inflows.
Also read: Dollar hits four-year low as naira and global currencies rise
The upward trend, which began at the start of February, reflects renewed confidence in the regulated segment of Nigeria’s foreign exchange market.
At the official window, the naira opened the week on a positive note, gaining 86 basis points, or N11.80, against the U.S. dollar.
Analysts attributed the strength to strong foreign exchange supply from Foreign Portfolio Investors and domestic market participants.
During Monday’s session, the currency traded between 1,360.00/$ and 1,352.50/$, before settling at 1,354.26/$. On a weekly basis, the naira recorded a gain of about N20.36, closing at 1,366.19/$ last week.
Overall, the currency has appreciated approximately 2.8 per cent relative to its February 2 position at the official window.
The positive momentum extended to the parallel market, with CardinalStone reporting a 0.21 per cent gain, closing at 1,447.00/$.
Cowry Assets Management noted stability at 1,426/$, indicating calm conditions in the informal segment.
Market analysts remain cautiously optimistic.
AIICO Capital projected that the naira would sustain its positive trajectory this week, citing steady inflows and continued reserve accretion as key factors.
Afrinvest echoed the outlook, highlighting that the currency is likely to maintain its current path barring any adverse shocks.
Also read: CBN Intervenes as Naira Gains Amid $736m Reserves Increase
The sustained gains underscore improving liquidity conditions and growing stability in both official and parallel foreign exchange markets, signalling renewed investor confidence in Nigeria’s local currency.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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