Author: Folasade Olugbade

The naira depreciated slowly and steadily over 13 consecutive trading sessions at the Nigerian Foreign Exchange Market (NFEM), according to trading data tracked by MarketForces Africa.

XRP Retail Investors Take Profit; Price Slides Ripple (XRP) has experienced a more than 3% price decline over the last 24 hours as retail investors took profits on Friday. The latest cryptocurrency market update reveals that XRP is caught between a fearful retail base and accelerating institutional infrastructure, creating a volatile environment for short-term sentiment versus long-term utility. After a rally the previous day, XRP’s price fell to $1.39, representing a 3.15% loss. This decline closely mirrors a broader market sell-off, driven by a significant rejection at a key technical resistance zone. XRP struggled to break through the resistance area…

OKB token surged approximately 24% within a 24-hour period, reaching $97.35 on Friday, significantly outperforming a declining broader market. With a $2.04 billion market cap, this rally was primarily driven by a dramatic increase in activity on exchange platforms.

Stanbic IBTC Hits 52-Week High in Fresh Rally Stanbic IBTC Holding Plc has set a new record in the Nigerian stock market, with investors doubling down on the lender despite the forthcoming delay in its 2025 audited financial statements. Following a brief dip in stock price due to this announcement, Stanbic IBTC made a strong comeback, surging 5.56% on Thursday, reflecting an improved investor sentiment. Its share price surged as investors trading highs and lows traded 1.067 million units of the non-operating holding company, valued at N140.406 million. Currently trading at N133 per share, Stanbic IBTC has reached its…

The Naira depreciates over 12 trading sessions at the Nigerian foreign exchange market (NFEM) as pressure on offshore payments continues to reduce the official value of the Nigerian local currency.

Reflecting weak appetite for loans, deposit money banks (DMBs) significantly increased their placements at the Central Bank’s Standing Deposit Facility (SDF) window, reaching N6 trillion as of Thursday.