Access: U.S. tariffs trigger increased dollar demand in Nigeria

Traders at Access Bank say tariff impositions on Nigeria’s exports to the U.S. has triggered increased demand for the greenback, particularly from Foreign Portfolio Investors. They anticipate a potential intervention from the Central Bank of Nigeria to stabilise the naira and curb further depreciation. Meanwhile, investors’ appetite in the bond market is expected to remain weak following selloffs on 2031 and 2035 maturities. Ebube Uneze, Treasury Team Member at Access Bank joins CNBC Africa for more market movements.