- Naira Touches N1,395 to US Dollar as FX Order Book Surges
- Nigeria’s Gas Reserves Rise 3% to 215.29 Trillion Cubic Feet
- Oil Prices Edge Higher, Brent Rises 5% Week-on-Week to $115
- FirstHoldco Soars on Earnings Beat, Otedola, RC Hold 50% of All Shares
- XRP Upside Rises to 35% as Ledger Upgrade Delayed to Nov.
- UK’s Dividend Tax is Fatally Flawed, Budget Could Drag Investors Back to the 1970s
- Dangote, FirstHoldCo Halt NGX Downtrend, Investors Gain N1.47trn
- CBN Grants JPMorgan Licence to Operate Merchant Bank in Nigeria
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.
Abbey Mortgage Bank Plc soared by more than 47% in 5 days as investors increased bets on the Nigerian lender following the announcement of Central Bank (CBN) regional licence approval last week.
Hyperliquid (HYPEUSD) declined by 6% to $56.87, underperforming a broader market that was also declining, primarily driven by a major scheduled token unlock.
The crypto market capitalisation plunged to $2.1 trillion over 24 hours, primarily driven by a massive cascade of liquidations that amplified selling pressure.
Ripple (XRP) price declined 5% to $1.07 during the early trading session on Saturday, underperforming a broadly weak crypto market primarily driven by whale distribution colliding with persistent U.S. regulatory uncertainty.
The naira softened against the US dollar as international payments outweighed FX liquidity at the Nigeria Foreign Exchange Market (NFEM) on Friday, according to an official report from the authority.
Ethereum price (ETHUSD) dropped by about 10% in 24 hours to $1,598.17, underperforming Bitcoin’s 3.92% drop, primarily driven by a cascade of leveraged long liquidations amid a broad altcoin market crash.
Bitcoin price (BTC) is down 6.12% to $59,821 on Friday amid aggressive crypto selloffs, underperforming a broader market decline and primarily driven by a hawkish reaction to strong U.S. jobs data.
World growth prospects have been hurt by the oil crisis prompted by the US-Iran war, Fitch Ratings says in its latest Global Economic Outlook (GEO). This has led Fitch to lower its 2026 forecast for global growth by 0.2 percentage points to 2.4%.
The South African Rand is trading steady against the US dollar and other crosses on Friday, while the latest report shows that the country’s foreign reserves fell due to weaker gold prices.
Global equities markets are heading for a mixed close this week amid easing tensions in the Middle East, while negative sentiment amplified AI stock sell-offs.