Author: Ogochi Christian
Oil prices dipped on Tuesday as US President Donald Trump signalled progress in negotiations to end joint US-Israeli strikes on Iran, while warning that the country’s critical energy infrastructure would be at risk if talks fail.
Oil Prices Surge after Iran Rejects U.S. Peace Proposal Oil prices surged in the global commodity market on Thursday as reciprocal attacks between the US, Israel, and Iran continue, despite reports that Washington wants to avoid a prolonged war. Iran “responded negatively” to the U.S. proposal, state media reported, citing an unnamed senior political-security official who spoke of a counterproposal that included a complete halt to “aggression and assassinations” and recognition of Iran’s sovereignty over the Strait of Hormuz. International benchmark Brent crude futures traded at $99.65 per barrel, up around 2.4% from the previous close of $97.26. US benchmark…
NGX Delivers 29% Return YTD, Companies Double Down on Gains Nigerian Exchange (NGX) year-to-date (YTD) return topped 29% as market capitalisation approached N129 trillion, supported by activities of value hunters in the local bourse. Many companies with higher beta have delivered significant capital appreciation to shareholders in less than 3 months as the local bourse continues to boom. Top-performing stocks have gotten 100% re-rating since the beginning of the year as money continues to flow into the market. On Wednesday, Nigerian equities extended their bullish run with the NGX All-Share Index edging up 0.11% to close at 200,925.75 points. The…
The naira advanced against the US dollar (USD) at the official window on Tuesday, according to daily FX data published by the Central Bank, reflecting the absence of pressures in the currency market.
A significant surge in US dollar demand at the Nigerian foreign exchange market (NFEM) led to a sharp decline in the naira’s value on Monday, according to daily FX data published by the Central Bank.
Money market rates diverged amidst strong liquidity in the financial system, driven by deposits from Nigerian lenders’ activities at the Apex Bank window.
Nigeria and Ireland on Friday stated their commitment to strengthening bilateral trade and investment relations, with both sides identifying key sectors for collaboration.
Bitcoin Cash is (BCHUSD) up 3.15% to $469.53 over the past 24h, outpacing Bitcoin’s 1.71% gain, driven by positive regulatory developments.
The Nigeria Customs Service (NCS), Ogun Area 1 Command, Idiroko, says it seized illicit goods with a total Duty Paid Value (DPV) of N1,350,751,000 from various locations in the state from January to date.
The energy crisis is expected to reshape Nigeria’s inflation expectations and will likely influence critical monetary policy decisions, analysts said, citing the U.S.-Iran conflict.