Author: Julius Alagbe

The Nigerian Exchange (NGX) All-Share Index (ASI) declined as equities investors lost about N648 billion, reversing the previous day’s rebound.

Cardano (ADA) price increased by 4.98% to $0.164, significantly outperforming a broader market

Ripple (XRP) price jumped 4% in 24 hours to $1.09, outperforming a broader market…

SPE Backs Federal Government’s ‘Transparent’ Oil Licensing The Society of Petroleum Engineers (SPE) Nigeria Council has praised the Federal Government for conducting a transparent, automated and market-driven 2025 oil licensing round under the Petroleum Industry Act. SPE Nigeria Council Chairman, Francis Nwaochei, spoke on Tuesday in Lagos during a pre-event press conference ahead of the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026). He described the exercise as a significant milestone for Nigeria’s upstream sector ahead of NAICE 2026. He commended the Federal Government, the Ministry of Petroleum Resources and the Nigerian Upstream Petroleum Regulatory Commission for strengthening investor…

Naira Weakens as Nigeria’s Foreign Reserves Dip Below $52bn The Naira exchange rate weakened against the US dollar at the Nigerian foreign exchange market (NFEM) on increased demand for international payments and a slowdown in external reserves. Daily FX data obtained from the Central Bank of Nigeria (CBN) revealed an increase in interbank FX activities by financial institutions, the market makers, with a spike in US dollar volume turnover. The official rate weakened marginally by 15 basis points (bps) to ₦1,363.70 per US dollar bid, though forex market pressures appear minimal even with a sharp rise in FX activities. During…

Solana (SOL) price declined by 2.29% in 24 hours to $74.11, underperforming …

The Central Bank of Nigeria (CBN) floated an OMO bill auction totalling N600 billion across three tenors on Tuesday amidst excess liquidity in the financial system.

XRP Tanks on Red Sentiment over U.S. Clarity Act Pause Ripple (XRP) tanked 5% to $1.05, the lowest in weeks, due to deteriorating investor sentiment and broader market sell-off pressure. The crypto market is down to $2.25 trillion on Tuesday. The total cryptocurrency market capitalisation fell 2.8% to $2.25 trillion. Bitcoin dropped 3.1% to trade at $63,300, while Ethereum declined 3.5% to $1,880. Every sector experienced a loss, with the non-fungible token (NFT) sector suffering the steepest decline of 12%, while other sectors fell between 1% and 10%. Investors reacted negatively across the cryptocurrency market as the US Senate temporarily…

The market value of Oando Plc, with 12.431 billion shares outstanding, declined to N476 billion

BEAT- Audiera Gains 24% in 24Hours Ahead of Major Token Unlock Audiera (BEAT) gained 24% in 24 hours to $4.41, significantly outperforming a modestly rising broader market, primarily driven by traders positioning ahead of a major token unlock. The rally was fuelled as investors positioned ahead of the August 1 token unlock, combined with on-chain accumulation by whales withdrawing millions from exchanges. A slew of crypto analysts agreed that the momentum was largely driven by traders positioning ahead of the scheduled unlock of 21.25 million BEAT tokens worth approximately $81.66 million on August 1, 2026. This is the largest token…