- Ethereum Jumps on Morgan Stanley Filing, BitMine Earnings Boost
- ONDO Soars 17% as Ondo Finance Debuts First-Ever Tokenised Stocks
- Naira Rises Against US Dollar as Interbank FX Trades Ease
- Nigerian Exchange Index Declines, Market Cap Rises N390bn
- First Holdco Fires Up, Market Value Tops N3.6 Trillion
- FG Unveils $500m Niger Delta Agric Investment Fund
- XRP Price Surge as Binance Launches $800K XRP Airdrop
- Interest Rate on 364-Day Treasury Bills Drops, CBN Rejects Bids
Author: Ogochukwu Ndubuisi
Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.
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Money Market Rates Surge as Market Price in Policy Action Money market rates spiked despite improved liquidity in the financial system on Wednesday. The system’s liquidity improved to a positive balance, AIICO Capital Limited told investors in an emailed note. However, there was an outflow of N225.72 billion for the July 2024 FGN bond auction which depressed system liquidity. Analysts had predicted that the money market rates would rise due to the latest benchmark rate hike. FMDQ data showed that the overnight Nigerian Interbank Offered Rate increased by 624 basis points to 35.13% reflecting a touch of pressure on the…
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