U.S. Job Growth Beats Forecasts as Iran Tensions Lift Dollar and Roil Markets
The U.S. private sector added 63,000 jobs in February, exceeding expectations and signaling tentative stabilization in the labor market. At the same time, escalating U.S.–Israel strikes on Iran triggered a surge in the U.S. dollar and sharp moves across global markets as investors sought safe-haven assets, while liquidity injections into the banking system helped support risk assets such as Bitcoin
Sources: FXStreet, CryptoSlate
UK Fiscal Outlook Improves as Markets Stabilize and Sterling Tests Key Support
UK Chancellor Rachel Reeves said new Office for Budget Responsibility forecasts point to lower borrowing and increased fiscal headroom despite a weaker growth outlook, as markets navigate global uncertainty. The pound hovered near key technical support against the US dollar while European and UK equities posted a modest rebound after a sharp selloff driven by geopolitical risks and market volatility.
Euro Weakens as Middle East Tensions Boost Safe-Haven Dollar
The euro slipped as escalating geopolitical tensions in the Middle East drove investors toward safe-haven assets. The stronger demand for the dollar pushed EUR/USD lower, with the pair falling toward key support levels amid heightened market uncertainty and rising energy-supply concerns linked to the conflict.
Nigeria’s Private Sector Rebounds as Stocks Rally & Trade Reform Nears Launch
Nigeria’s private sector returned to expansion in February. The Nigerian stock market also rallied despite global geopolitical tensions, with oil equities leading gains as rising crude prices boosted investor confidence. Meanwhile, the federal government confirmed March 27 as the launch date for the National Single Window platform aimed at streamlining trade processes and improving efficiency at ports.
Sources: ChannelsTV, Nairametrics, Guardian
CBN Tightens Liquidity as Treasury Bill Auction & Recapitalisation Drive Intensify
The CBN announced a ₦1.05 trillion Treasury bills auction across 91-, 182-, and 364-day maturities as part of efforts to manage liquidity in the financial system. At the same time, banks are racing to close capital raises that could total about ₦6 trillion ahead of the March 2026 recapitalisation deadline, while the apex bank reportedly withdrew ₦13.41 trillion from the financial system in January through liquidity-management operations.
Sources: Nairametrics, TheNation, Nairametrics
Ghana Strengthens External Position, Banking Strains and Gold-Backed Reserve
Ghana’s external debt declined to GH¢330.2 billion by November 2025. Authorities are also pursuing a gold-backed reserve accumulation policy aimed at boosting foreign reserves and raising import cover to 15 months by 2028, while the banking sector reported GH¢1.64 billion in loan write-offs in 2025 with NPLs reaching GH¢21.0 billion.
Sources: ModernGhana, NewsGhana, MyJoyOnline
African Central Banks Ease Policy, Deepen Cooperation to Support Stability
BCEAO cut its key policy rate by 25 basis points to 3.00%, responding to deflation in the WAEMU region as inflation fell below zero in late 2025. Meanwhile, the Central Bank of Congo (BCC) and the Bank of Central African States (BEAC) signed a partnership agreement to strengthen collaboration, regulatory alignment and financial system oversight in Central Africa.
Sources: Ecofingency, FinancialAfrik
West & Central African Debt Markets Stabilize as Ivory Coast Raises Funds & Cameroon’s Borrowing Costs Ease
Ivory Coast raised 66 billion CFA francs on the UMOA regional financial market through treasury securities to support budget financing. In Central Africa, Cameroon’s Treasury bill market showed signs of recovery as stronger investor demand pushed subscription rates higher while short-term borrowing costs edged down to about 6.87% in January, easing pressure on government financing.
Sources: BusinessinCameroon, FinancialAfrik
Oil Surges as Iran Conflict Disrupts Supply While OPEC+ Boosts Output
Global oil prices jumped sharply, with WTI rising above $75 and Brent climbing toward the mid-$80s, after U.S. and Israeli strikes on Iran and retaliatory attacks disrupted energy shipments through the Strait of Hormuz, a key route for roughly one-fifth of global oil trade. In response to the escalating Gulf crisis, OPEC+ approved a modest production increase to ease supply concerns, while China reportedly instructed major refiners to suspend gasoline and diesel exports to protect domestic fuel availability.
Nigeria’s Petrol Prices Fall as Industry Calls Grow for Expanded Naira-for-Crude Policy
Nigeria’s average retail petrol price fell to ₦1,034.76 per litre in January 2026, representing a 17.77% year-on-year decline and a slight monthly drop, according to the National Bureau of Statistics. However, rising global oil prices and domestic pump price adjustments have triggered fresh calls from industry groups to expand the naira-for-crude policy to support local refining, stabilize supply, and reduce pressure on foreign exchange.
Sources: Nairametrics, Punch
