Author: Ogochukwu Ndubuisi

Oil prices climbed Thursday as escalating tensions and a prolonged deadlock between the US and Iran fueled expectations of continued supply disruptions and tighter global markets.

The Nigerian Overnight Rate (NOFR) steadied as the banking system’s surplus liquidity narrowed following the settlement of the April bond auction.

Dollar Strength Could Unwind if Oil Prices Fall Back – Fitch The strengthening of the dollar in the early weeks of the US-Iran conflict could unwind if oil prices fall, Fitch Ratings says. In a non-rating commentary note, Fitch said global currency movements in recent months have been closely correlated to the relative exposures of different economies to the sharp rise in world oil prices. Countries less exposed to the US-Iran conflict, as measured by their net petroleum imports as a share of GDP, have tended to experience less depreciation against the dollar. Between 27 February and 24 April, the…

GCR Ratings has affirmed the national scale long-term and short-term issuer ratings of BBB(NG) and A3(NG), respectively, accorded to Quest Merchant Bank Limited – formerly FBNQuest Merchant Bank Limited – with the outlook revised to stable from Rating Watch Negative.

Hyperliquid (HYPE) price dipped by about 5% to $40.34 amidst bullish but correcting trading signals, underperforming a slightly weaker broader market, due to technical pressure after a strong rally.

Oil Prices Increase on Elevated Geopolitical Risk Premium Oil prices rose on Tuesday, with Brent crude trading above $103 a barrel, as persistent tensions around the Strait of Hormuz and uncertainty over a proposed reopening of the waterway kept markets on edge. International benchmark Brent crude traded at $103.55 per barrel, up around 1.8% from the previous close of $101.69. US benchmark West Texas Intermediate also increased about 1.8% to $98.15 per barrel, compared with $96.37 in the previous session. The gains came as geopolitical risk premiums remained elevated, with investors closely monitoring developments surrounding the strategic waterway, a critical…

Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.

The dollar index slipped below 98.5 on Monday after briefly rising to 99.3 earlier in the session as demand slowed sharply. The markets reacted to reports that Iran had submitted a new proposal to the US aimed at reopening the Strait of Hormuz and easing tensions.

Akwa Ibom Govt Heightens COVID-19 Surveillance The Akwa Ibom Government has activated heightened COVID-19 surveillance following the confirmation of a new outbreak in a neighbouring state. The Commissioner for Health, Dr Ekem Emmanuel, made this known in a statement in Uyo on Monday. Emmanuel said that Gov. Umo Eno has directed the ministry to activate heightened surveillance across all entry points, health facilities, and communities to forestall any outbreak. ”Disease surveillance officers and rapid response teams have been placed on red alert to promptly detect and manage any suspected cases. “Residents are urged to remain vigilant and adhere strictly to…

APC Tackles Makinde Over “Operation Wetie” Comments The All Progressives Congress (APC) has cautioned Gov. Seyi Makinde of Oyo State for invoking the history of “Operation Wetie” during a summit of opposition political parties in Ibadan. Mr Felix Morka, the party’s National Publicity Secretary, in a statement while reacting to comments made by Makinde, termed the remarks as a dangerous incitement and a threat to national security. ”Makinde’s comments are reckless and a clear and present threat to peace and national security. “It is particularly disturbing for a sitting Governor who bears constitutional responsibility as the Chief Security Officer of…