Author: Folasade Olugbade
Excess Liquidity in Banking System Hits N8.2trn The financial system witnessed a marginal surge in liquidity following the repayment of large OMO bills and the absence of Central Bank mop-up operations. Flooded with excess funds, the short-term benchmark interest rates have hit the floor, hovering above 22% since the last monetary policy decision. In search of earnings-boosting investment securities, banks continue to step up placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF), which offers rates above Treasury bill returns. Preference for short-term investment securities and other money-market instruments has continued to gain ground, with banks shying…
The Nigerian stock market rebooted for the next rally on Tuesday, posting a N1.086 trillion profit, following gains in some mid- and large-cap stocks.
XRP Gains 4.2% as Geopolitical Tensions Ease, Cryptos Rally Ripple (XRP) has increased by 4.20% to $1.42 over the past 24 hours, following a significant surge in trading volume on Tuesday. This rise was fueled by a de-escalation of tensions in the Middle East. The shift to a “risk-on” sentiment followed President Trump’s announcement of a five-day pause on planned U.S. strikes against Iran, along with progress in diplomatic talks, which alleviated immediate geopolitical fears. XRP’s price movement is closely mirroring Bitcoin’s 4.69% gain, both benefiting from a general market rebound driven by positive geopolitical news. As a result, risk…
Guaranty Trust Holding Company (GTCO) Plc shrank further on the Nigerian Exchange (NGX) amid a missed regulatory filing, which weakened investor sentiment.
Tony Elumelu to Empower 3,200 African Entrepreneurs Across 54 Countries In a move to reaffirm his commitment to empowering African entrepreneurs, Chairman of Heirs Holdings, UBA Group and Founder of the Tony Elumelu Foundation (TEF), Tony O. Elumelu, CFR, has announced 3,200 beneficiaries for the 2026 TEF Entrepreneurship Programme. The announcement, made in Abuja, coincides with the philanthropist’s annual reflection on impact, purpose, and the transformative power of entrepreneurship across the African continent. In his annual letter, Elumelu emphasised that opportunity and prosperity can be intentionally created and scaled, saying, “Hope is not just a feeling, it is a system…
The Nigerian Exchange (NGX) regulator has lifted its suspension on Zichis Agro-Allied shares following the conclusion of its probe into the company’s sharp price movement.
With a market cap of N129 trillion, the Nigerian Exchange (NGX) sustained its bullish run on Tuesday, as investors gained N687 billion amid continued buying interest in key equities.
CBN to Open N1.05trn Nigerian Treasury Bills for Subscriptions The Central Bank of Nigeria (CBN) is set to conduct its third Treasury Bills auction for the month on Wednesday, amidst liquidity surplus in the financial system. The Apex Bank, through the Debt Management Office (DMO), will float a total of N1.05 trillion in Nigerian Treasury bills for subscription across three maturities. At the midweek primary market auction, Nigerian Treasury bills with a 91-day maturity worth N100 billion will be available for investors. Additionally, the CBN will offer N150 billion in 182-day bills for subscription. One-year Treasury bills totalling N800 billion…
BTC Hits $75k as Hedging Activity Creates Forced Demand Bitcoin (BTC) touched $75,000 on Tuesday, boosted by hedging activities in a volatile cryptocurrency market. The price surged above $75,000, peaking near $75,800, breaking through a resistance range of $73,750 to $74,400 that had limited previous rallies since 2024. This price movement was closely linked to derivatives activity, with analysts indicating that the rally was primarily driven by traders unwinding bearish put options rather than a significant increase in new spot purchases. BTC has since pulled back to $74.4k amidst fluctuating trading volume. Traders noted that Bitcoin’s brief rise was mostly…
Nigeria’s Inflation Drops to 15.06% in February