Author: Ogooluwa Aremu
Money Market Rates Soften Despite OMO, NTB Debits Money market rates softened despite huge outflows related to settlement for OMO and the Nigerian Treasury bills auction floated by the monetary authority last week. The financial system opened with strong liquidity, driven by inflows from expired bills. This buoyed system liquidity to N4.68 trillion, largely supported by strong placements at the Standing Deposit Facility. Banks continue to place excess funds with the Central Bank to augment their revenue as lending appetite tightens. Commercial banks’ preference for investment securities intensifies, with fair values on financial statements running into the trillions. Liquidity conditions…
Non-operating company of First Bank of Nigeria, First Holdco Plc’s stock market value increased by more than 12% last week, reflecting investors’ improved sentiment as the first quarter of the 2026 earnings season approaches.
GTCO Climbs to N4.3trn Ahead of 2025 Earnings Dual-listed Nigerian lender GTCO Plc’s stock market value surged by about 5.4% as investors increased bets on the orange-branded financial services company ahead of its earnings release. The ticker trading data obtained from the Nigerian Exchange showed that GTCO’s share price rose to N118 on Friday as 11.381 million units valued at N1.336 billion were traded. Its share price saw intermittent swings as investors exited and re-entered positions, with heavy trading volumes reflecting increased market activity. The group is warming up to release its 2025 earnings results as the first quarter approaches.…
Ripple (XRPUSD) has dropped about 4% over the past 24 hours to $1.39, underperforming a broader market that is also declining, reflecting capital rotating out of altcoins amid extreme fear sentiment.
DEAP Capital Names High Profile Executives to Board of Directors Financial services firm DEAP Capital Limited has named some high-profile executives to its Board of Directors (BoD), according to an official announcement obtained by MarketForces Africa. The company announced the appointment of Mr. Lamon Rutten, the founding Chief Executive Officer of the Saudi Mining Exchange and the Mumbai Commodity Exchange (MCX), to its Board of Directors, effective February 17, 2026. Mr Lamond Rutten is an internationally respected commodities and capital markets executive with over three decades of experience in the development of commodities exchanges, structured commodity finance, and market infrastructure.…
Bitcoin Cash (BCH) gained about 1% to $573.01 over the past 24h, reaching a new all-time high average transaction value of over $2 million on its network.
Ondo ($ONDO) dropped 2.72% over the last 24 hours to $0.264, according to its crypto trading market data on Sunday, underperforming a nearly flat broader market, primarily due to low liquidity and weak momentum in a risk-off environment.
With a market capitalization of $26.83 billion, TRON (TRXUSD) is on the move in the early trading session in the crypto market on Friday, up 1.25% over the past 24 hours to $0.283.
Exchange Rate Falls over High Demand for Dollar The naira exchange rate depreciated at the Central Bank foreign exchange market due to surging demand for dollar payments at the official window. The high forex payments above dollar volume at the official window caused the exchange rate to drop for the second consecutive day after posting a fast and furious rally. According to the daily FX update released by the Central Bank of Nigeria, the exchange rate depreciated by 24bps or ₦3.24 against the U.S. dollar on Thursday. The depreciation was driven by high USD demand pressure despite inflows from Foreign…
South Korean Court Hands Life Sentence to Ex-President Yoon A South Korean court on Thursday sentenced former president Yoon Suk Yeol to life in prison for declaring martial law in December 2024. The court convicted the 65-year-old of leading an insurrection and undermining the constitution. The ruling by the Seoul Central District Court marked a major milestone in one of the most significant political trials in the country’s recent history. Yoon’s actions plunged the nation into a severe constitutional crisis. He can appeal the verdict. Prosecutors had sought the death penalty, the maximum sentence available under South Korean law for…