Author: Ogochukwu Ndubuisi

Nigerian Exchange Tops N132trn as ETI, Stanbic IBTC Rally The Nigerian Exchange (NGX) market capitalisation surpassed N132 trillion as Ecobank Transnational Incorporation (ETI), Stanbic IBTC led today’s rally. The Nigerian equities market ended Tuesday on a bullish note, with the All-Share Index (ASI) rising by 0.66% to close at 205,831.38 points, bringing the year-to-date return to 32.27%. In line with the benchmark’s performance, market capitalisation also grew by 0.66%, gaining ₦865 billion to settle at ₦132.49 trillion. Investor sentiment remained largely positive, as market breadth closed with 40 gainers against 21 decliners. On the gainers’ chart, ETI, STANBIC, NGXGROUP, CORNERST,…

Iran Puts Cost of War at $270 Billion The Iranian Government has on Tuesday estimated that the cost of the war launched by the United States (U.S.) and Israel since February is $270 billion. The government spokeswoman, Fatemeh Mohajerani, told the Russian state news agency RIA Novosti that the figure was a preliminary estimate. According to Mohajerani, the first step in putting a more complete figure on the extent of the reparations will be to evaluate damage to buildings. With this, the economic losses and lost tax revenues would be analysed. She said that the Iranian government would seek compensation…

Naira Surges to N1,356 as NFEM Interbank Turnover Climbs The Nigerian local currency, the naira, surged to N1,356 per dollar as interbank turnover and total currency bought and sold at the official window increased. The official FX data published today by the Central Bank of Nigeria (CBN) revealed that intraday transactions were consummated between N1354.5000 and N1362.5000, reflecting increased FX liquidity. Interbank turnover surged to N114.887 million across 141 deals, up from N71.156 million on Friday. Last week, the Naira strengthened across both official and parallel market segments. At the official window, the currency appreciated by 1.76% or N23.90 to…

Equities investors gained about N443 billion in the Nigerian stock market on Monday, reflecting continued positioning in growth and value stocks ahead of the first-quarter earnings release.

Energia Ltd., an independent oil and gas company, has appointed Mr Oladimeji Bashorun as its Chief Executive Officer (CEO), following the exit of Mr Chidi Egonu.

XRP Price Rises as US Senate Resumes Clarity Act Talks Ripple (XRP) price climbed to $1.34 over 24h as the US Senate set to resume Digital Asset Market Clarity Act talks, boosting investor optimism in the cryptocurrency market on Monday. The slight positive price movement was driven by a modest macro-driven market lift amid ongoing geopolitical tensions. XRP trading is down 13% to $1.8 billion, while its market cap has topped $82 billion. The gain mirrors Bitcoin’s swing, indicating the price surge was driven by broader market sentiment rather than XRP-specific news. The ongoing geopolitical tensions over the U.S. blockade…

Zichis Agro-Allied Industries Plc has distanced itself from media reports suggesting that the Company is set to undertake an Initial Public Offering (IPO) or related capital raising activity.

What World Bank Oil Import Advice Means for Nigerians Oil imports will boost consumer power through enhanced competition and remove the risk of a Nigerian cement industry playbook in which prices surge despite localised raw materials. The World Bank is not the enemy for saying that the Nigerian government should issue oil import licenses to boost competition in the critical segment. The advice came in contrast to Dangote Refinery’s expectation, a multibillion-dollar company that has been engaged in a long fight to stop oil imports into Nigeria since it became operational.  What the World Bank is asking the government to…

Oil prices fell by around 11% over the week as expectations of a ceasefire in the Middle East eased immediate supply concerns, although ongoing tensions kept markets volatile.

Pi Network price climbed to $0.169 in 24h, outperforming a down market where Bitcoin fell 1.46%, primarily driven by low-volume drift in a thin market.