The banking system’s excess liquidity surged as the monetary authority maintained its stance of economic tightening while seeking to tame Nigeria’s double-digit headline inflation.
Kenya raised KES 24.35 billion from Treasury bill allotment at its weekly primary market auction last week. The weekly Treasury bills auction was oversubscribed, recording a subscription rate of 102.3%, with total bids of KES 24.55 billion against an offer of KES 24.00 billion.
Cryptocurrency
XRP price climbed by 1.05% to $1.38 as Ripple partners with Project Eleven to audit its ledger. The token, which had hit a low below $1.30, ticked up, closely tracking Bitcoin’s 1.06% gain.
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The Nigerian Communications Commission (NCC) has noted recent public concerns regarding the quality of telecommunications services in parts of the country.
Politics
I’II Scrap Federal Character Principle if Elected President – Amaechi A former Minister of Transportation, Rotimi Amaechi, says he will scrap the federal character principle if elected president in 2027, insisting that all Nigerians should enjoy equal citizenship…
PDP: There’s Still Room for Defectors to Come Back – Wike Minister of Federal Capital Territory…
Fubara Commends Cabinet Members, Relieves Commissioners of Appointments Gov. Siminalayi Fubara, of Rivers, has expressed gratitude…
Wike-Led Faction Takes Over PDP National Secretariat The Peoples Democratic Party (PDP) faction loyal to the…
Financial Product
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.
Inside Africa
World Bank to Scale up Africa Guarantees to $6.4bn by 2030 The World Bank Group says its Guarantee Platform aims to double its annual issuance of guarantees in Africa to 6.4 billion dollars by 2030. A statement by the bank…
Nigeria Grants Rwandans 30-day Visa-Free Entry The Nigeria Immigration Service (NIS) says it has completed arrangements…
The South African rand or ZAR has weakened against major currencies, trading at R16.56 per U.S. dollar (USD), R19.29 per euro (EUR), and R22.11 per British pound (GBP), First National Bank said in a note on Friday.
Wall Street Surges to Record Highs as AI, Tech Stocks Rally Wall Street powered to fresh record highs as AI and technology stocks surged…
British Health Secretary Resigns as Starmer Faces Leadership Challenge British Health Secretary Wes Streeting resigned from the government on Thursday, deepening the political crisis…
Iran Opens Strait of Hormuz to Chinese Ships Some Chinese ships, in compliance with Iranian management protocols, since Wednesday night have been allowed to…
Global markets are trading mixed as investors monitor prospects for easing United States (US)-China tensions ahead of the expected meeting between President Donald Trump and President Xi Jinping.