Oil Gains 3.2% as Drilling Activity in US Slows

In the global commodity market, crude oil price gained 3.2% as drilling activity in the United States slowed down,

Nigeria’s Ticking Debt Clock Stokes ‘Worrisome’ Predictions

Nigeria’s total public debt has been projected to rise to N134.51 trillion in 2024 on expectation that the ongoing

OMO Bill Yield Slumps, CBN Ignores Investors Bids Last Minute

The average yield on Nigerian open market operation (OMO) bills declined by seven basis points to

Investors Trim T-Bills Holdings, Yield Rises Ahead of Auction

With Nigeria’s damaging inflation conditions, the average yield on Treasury bills remained elevated,

Fresh stories

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Oil Gains 3.2% as Drilling Activity in US Slows

In the global commodity market, crude oil price gained 3.2% as drilling activity in the United States slowed down,

Nigeria’s Ticking Debt Clock Stokes ‘Worrisome’ Predictions

Nigeria’s total public debt has been projected to rise to N134.51 trillion in 2024 on expectation that the ongoing

OMO Bill Yield Slumps, CBN Ignores Investors Bids Last Minute

The average yield on Nigerian open market operation (OMO) bills declined by seven basis points to

Investors Trim T-Bills Holdings, Yield Rises Ahead of Auction

With Nigeria’s damaging inflation conditions, the average yield on Treasury bills remained elevated,

Madagascar Gets $658m IMF Loans to Unlock Growth

Madagascar has unlocked access to additional $658 million loans from the International Monetary Fund

Kenya’s Fiscal Challenges Persist as External Risks Ease –Fitch

Achieving the deficit targets in Kenya’s budget proposal for the fiscal year ending June 2025 (FY25) will be

Analysis

Transcorp Hotels Slides below N1trn Market Value

The hospitality industry giant, Transcorp Hotels Plc, has retreated from the list of companies with more than N1 trillion in market valuation amidst negative investors’ sentiment on the local exchange.

MTN Nigeria Slides, Trades at 33% Below 52-Week High

MTN Nigeria Plc witnessed another round of selloffs on the floor of the Nigerian Exchange (NGX) Wednesday as investors’ book early profit following its weak earnings performance. The telecommunications company's share lost 2.67% due to selloffs from its shareholders, dragging its market valuation to N4.509 trillion.

Geregu Power Targets N9.874bn Profit in Q3, Cash to Reduce

Cash rich Geregu Power Plc has estimated a total profit of N9.87 billion for the third quarter of 2024, according to the company’s regulatory filing submitted to the Nigerian Exchange, NGX.

Geregu Power Steadies at N2.5trn despite Fresh Deal with Siemens

Geregu Power Plc retained its #2.5 trillion market valuation months after the stock price peaked at N1000. The company came to the local bourse by way of introduction at N100 per share in Oct 2022, with 2.5 billion shares outstanding - Now, nothing appears to be moving the stock price : earnings and deal have no impacts.

Latest Business

ECONOMY

Inside Africa

Madagascar Gets $658m IMF Loans to Unlock Growth

Madagascar Gets $658m IMF Loans to Unlock Growth

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Madagascar has unlocked access to additional $658 million loans from the International Monetary Fund
Kenya’s Fiscal Challenges Persist as External Risks Ease –Fitch

Kenya’s Fiscal Challenges Persist as External Risks Ease –Fitch

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Achieving the deficit targets in Kenya’s budget proposal for the fiscal year ending June 2025 (FY25) will be
Tanzania Unlocks Access to $935m Facility from IMF

Tanzania Unlocks Access to $935m Facility from IMF

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The Tanzanian government has unlocked additional $935 million loans from the International Monetary Fund, an official statement said.

Investment

Equities Investors Lost N48bn as MTNN, FBNH Tumble

Selloffs in MTN Nigeria, FBN Holdings and some other stocks dragged the Nigerian Exchange market capitalisation down

Equities Investors See N53bn Gain as Market Records 32 Risers

Equities investors gained about N53 billion on Friday as the Nigerian Exchange, NGX, recorded 32 risers, 17 decliners. Consequently, the All-Share Index rose by 0.09% to close at 99,925.88 points, with the year-to-date return of the index climbing to 33.64%.

OMO Bill Yield Slumps, CBN Ignores Investors Bids Last Minute

The average yield on Nigerian open market operation (OMO) bills declined by seven basis points to

Investors Trim T-Bills Holdings, Yield Rises Ahead of Auction

With Nigeria’s damaging inflation conditions, the average yield on Treasury bills remained elevated,

Investment Opportunities: EU-Nigeria Businesses, Policy Makers Meet – Official

Nigerian and European business leaders, policy makers and institutional stakeholders will converge on Abuja on

Money Market Rates Dip as FAAC Credit Boosts Liquidity

Money market short term benchmark interest rates declined as Federal Accounts Allocation Committee (FAAC) disbursement boosted liquidity level in the financial

Financial Products

Investors Trim Treasury Bills Holdings as CBN Cuts Rates

Investors reacted negatively, trimmed their Nigerian treasury bills (NTB) holdings in the secondary market following successive spot rates cut at the Central Bank of Nigeria’s (CBN) primary market auction last week.

Investors Trim Treasury Bills Holdings as CBN Cuts Rates

Investors reacted negatively, trimmed their Nigerian treasury bills (NTB) holdings in the secondary market following successive spot rates cut at the Central Bank of Nigeria’s (CBN) primary market auction last week.

Equities Investors See N53bn Gain as Market Records 32 Risers

Equities investors gained about N53 billion on Friday as the Nigerian Exchange, NGX, recorded 32 risers, 17 decliners. Consequently, the All-Share Index rose by 0.09% to close at 99,925.88 points, with the year-to-date return of the index climbing to 33.64%.

US Dollar Strengthens Ahead of Price Index, Data Release

The US dollar rose against its major trading partners early Friday, except for a decline versus the euro

Nigerian Bourse Rebounds with N902bn Daily Gain

Bulls stage comeback into the Nigerian Exchange (NGX), gaining N902 billion after two days bloodbath ....

Yield Climbs as CBN Increases Rates on Treasury Bills

The average yield climbed as the Central Bank of Nigeria (CBN) increased spot rates on Nigerian Treasury Bills auctioned ...

Selloffs Provoke Spike in Nigerian Treasury Bills Yield

The average yield on Nigerian Treasury bills increased by 11 basis points to 3.4% following selloffs ....

Odu’a Investment Plans to List on Nigerian Exchange

Odu’a Investment Plans to List on Nigerian Exchange Odu’a Investment...

Nigeria’s Sovereign Eurobond Yield Dips Below 10%

Due to strong buying interest, Nigeria’s sovereign Eurobond yield has dipped below 10%, according to an investment

Benchmark Yield Shrinks as Bonds Market Rallies

The average yield on Federal Government of Nigeria (FGN) bonds shrank in the secondary market as

FIN MARKET

Nigeria’s Ticking Debt Clock Stokes ‘Worrisome’ Predictions

Nigeria’s total public debt has been projected to rise to N134.51 trillion in 2024 on expectation that the ongoing

OMO Bill Yield Slumps, CBN Ignores Investors Bids Last Minute

The average yield on Nigerian open market operation (OMO) bills declined by seven basis points to

Investors Trim T-Bills Holdings, Yield Rises Ahead of Auction

With Nigeria’s damaging inflation conditions, the average yield on Treasury bills remained elevated,

Investment Opportunities: EU-Nigeria Businesses, Policy Makers Meet – Official

Nigerian and European business leaders, policy makers and institutional stakeholders will converge on Abuja on

Money Market Rates Dip as FAAC Credit Boosts Liquidity

Money market short term benchmark interest rates declined as Federal Accounts Allocation Committee (FAAC) disbursement boosted liquidity level in the financial

Investors See Huge Loss as Selloffs Scratch Banking Index

Equities investors lost more than N103 billion on the Nigerian Exchange (NGX) over bear festival that last for two days out of three days.

FBN Holdings Shrinks in Value as Selloffs ‘Heat’ Persist

Investors can now buy FBN Holdings 39.895 billion shares outstanding cheaper as its market value fell below halve of its peak price amidst banking sector

Cryptocurrency

$Davido Meme Coins Purely Speculative, Risky – SEC Warns

$Davido Meme Coins Purely Speculative, Risky – SEC Warns Tagged...

Crypto Market Cap Hits $2.62T as Bitcoin Crosses $70K

Bitcoin price is back trading above $70,000 after weeks of sideways price action across the market. The world’s largest digital cryptocurrency asset and other cryptocurrencies were rising early Wednesday.

Bitcoin Price Depreciation Drags Crypto Market Cap to $2.534T

Market data from cryptocurrency exchanges shows that the price depreciation of Bitcoin on the final day of May reduced the value of the entire cryptocurrency market to $2.53 trillion, a decrease of 0.11% from the previous day.

Senate Committee Seeks Regulation on Crypto Trading

Senate Committee Seeks Regulation on Crypto Trading The Senate Committee...

Cryptocurrencies Value Rises to $2.44 Trillion as Market Flirts With BTC, ETH

The market capitalisation of all cryptocurrencies increased above $2.4 trillion as digital currency assets experienced price surges.  Bitcoin price crossed $67,000, according to data obtained from cryptocurrency exchanges, while Toncoin pulled back, but the market gained support from the Ethereum price surge

Bitcoin Drops by 10% to $67K as Crypto Rallies Retrace

Market prices of largest digital asset bitcoin and other cryptocurrencies fell on Friday

Bitcoin Hits $60K First Time in 2-Year

Bitcoin hit $60,000 on Wednesday for the first time in more than two years, as a flurry of capital into new U.S. spot bitcoin exchange-traded products fuelled a

Is a New Bitcoin All-Time High in Sight?

Bitcoin surpassed $59,000 in price on Wednesday, and it could hit a new all-time high within weeks...

Fintech

Africa’s E-commerce Penetration to Reach 40% by 2025 –Report

By the end of 2025, nearly half the population of Africa will have engaged in buying goods and services online, compared to just 13% in 2017, according to latest report from title ‘Payment and E-commerce in Africa’ released by Nikulipe.

Kubik Completes $5.2mln Seed Funding Round

Kubik announces its successful $5.2 million seed funding round. The seed round makes ...

Fintech Startup Thepeer Shut Down after $2.1m Seed Round

Nigerian fintech startup Thepeer, which provided Application Programming Interface (APIs) allowing customers to

Fintech Funding Declines by 16% in Three Months

Due to shifting investors’ sentiment, global funding in the fintech sector has fallen to its lowest level since 2017,

Zeepay Raises Equity to Support Ongoing Expansion

Ghanaian fintech company Zeepay Ghana has announced the completion of an equity investment by pan-African investment firms