- BTC, ETH, XRP Dive, Japan Reclassifies Crypto as Financial Assets
- Oyo Govt Approves Over N35bn for Agriculture, Others
- Tantalizers Assures Shareholders of Sustainable Growth
- Naira Rises as Foreign Reserves Approach $52 Billion
- BUA, Insurance, Tech Stocks Drag NGX Indices Lower
- NCC Reviews MVNO Business Rules to Deepen Competition, Expand Telecom Access
- XRP Trades Soft as Ripple Urges Senate to Support Clarity Act
- Solana Slips after SBI Taps Network for Tokenised Japan Equity Fund
Author: Julius Alagbe
Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.
The famously unforgiving UK bond markets will be closely eyeing what happens during another day of scrutiny for Sir Keir Starmer, as former top civil servant Sir Olly Robbins prepares to answer questions on the appointment of Lord Peter Mandelson as US ambassador.
Oil prices continue to search for direction on Tuesday as markets weigh expectations that planned US-Iran talks this week could boost supply against ongoing risks stemming from disruptions in the Strait of Hormuz.
The Federal Government of Nigeria says it spends approximately 150 million dollars annually on vaccine procurement while expanding malaria vaccination to more states.
The naira fell to approximately N1350 against the US dollar at the Nigerian foreign exchange market on Monday, reflecting pressure from surging international payments at the start of the week.
BTC/USD: Bitcoin Tops $76k as MicroStrategy Boosts Holdings Bitcoin price increased 3% to $76,322.47 over the past 24h, outpacing the broader market, which rose 1.78%. The move is primarily driven by a massive institutional purchase from MicroStrategy, which absorbed selling pressure and reinforced Bitcoin’s defensive narrative amid persistent geopolitical tensions. MicroStrategy acquired 34,164 BTC worth $2.54 billion, its third-largest purchase ever. This large, off-market buy directly reduces available supply and demonstrates unwavering corporate conviction, acting as a powerful bullish catalyst. The sustained institutional demand creates a structural bid for Bitcoin, providing a price floor that dampens downside from retail selling…
XRP Gains as Enabled WhatsApp Trading Drives Optimism XRP is up 1.40% to $1.43 over the past 24h, slightly trailing Bitcoin’s +2.15% gain, primarily driven by new utility from its integration with WhatsApp for trading wrapped XRP on Solana. This move aligns with broader market gains driven by strong institutional ETF inflows and easing geopolitical concerns. Enhanced utility and adoption from new trading access, specifically the launch of wrapped XRP (wXRP) on Solana, enabling swaps through WhatsApp. The primary driver is the launch of wrapped XRP (wXRP) on the Solana network, which enabled XRP trading directly within WhatsApp on April…
Banking Stocks Boost NGX Index, Investors Gain N609bn Buoyed by banking stocks, the Nigerian stock market opened the week on a positive note, as market capitalisation rose by 0.44 per cent to N140.435 trillion from N139.826 trillion, reflecting a gain of N609 billion. Similarly, the All-Share Index advanced by 946.27 points, or 0.44 per cent, increasing from 217,167.57 to 218,113.84. The upbeat performance was driven by gains in mid and large-cap stocks like Nigerian Aviation Handling Company, Union Dicon Salt, Fidelity Bank, Trans-Nationwide Express, Access Corporation, and 31 other stocks. Generally, banking stocks were observed to have significantly driven the…
South African Rand Weakens as Oil Prices Rise, Gold Drops The rand has weakened slightly against major currencies this morning, trading at R16.38 per dollar, R19.25 per euro, and R22.11 per pound, amid a slide in gold prices. In a note, First National Bank (FNB) said a depreciation comes as oil prices jumped after the US Navy seized an Iranian ship over the weekend. The US President Donald Trump said an Iranian vessel was seized in an attempt to breach the naval blockade. In response, Tehran reimposed restrictions on the Strait of Hormuz after claiming that the US blockade violated…
Global market sentiment has weakened at the start of the new week, with the aggregate market sentiment gauge falling to 0.29 from 0.18 last week, on a scale from +1 (bullish) to 1 (bearish), analysts said in a note.
CBN to Auction Nigerian Treasury Bills Totalling N750bn The Central Bank of Nigeria (CBN) is scheduled to auction N750 billion in local treasury bills across three standard tenors on Wednesday. The Apex Bank will raise the amount across 91-, 182-, and 364-day Treasury bills amid sustained investor demand for duration. At the short end, 91-day treasury bills totalling N100 billion will be auctioned on Wednesday. The authority will put N150 billion worth of 182-day bills for investor subscription. Reflecting surging demand, the CBN will offer N500 billion for the longest tenor – 364-day bills. Amidst persistent spot rate cuts, analysts…