The Weekly Street Note — W34 · 21 Aug 2026

🟢 9 Conviction Buy · 🟡 24 Accumulate · Median score 67.6

The naira's sharp appreciation to N1,346.90/$ this week, driven by FX turnover that doubled to $4.5 billion, has reset the macro backdrop for Nigerian equities. Simultaneously, headline inflation's retreat to 15.43% in July signals CBN's price stability gains, though the central bank now faces a tougher test in reviving credit and growth. This dual tailwind—currency strength and disinflation—has lifted conviction positioning: FIDSON and MTNN entered Conviction Buy this week, while ARADEL fell out, signaling a meaningful rotation within the model.

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MoloneyStreetRe Analytics — research output, not personalised investment advice.