Author: Ogooluwa Aremu

Naira Drops to N1,383, NFEM Interbank Turnover Reduces The naira dropped by 0.22% to ₦1,383.58 per dollar at the Nigeria foreign exchange market (NFEM) as intrabank turnover reduced, according to data published by the Central Bank on Monday. The total monetary value of foreign exchange transactions conducted among authorised dealer banks declined to N142.291, data published by the Apex Bank revealed. The CBN report indicates that the spot FX rate reached an intraday high of N1391 per dollar, and the lowest rate quoted for the day was N1380, with N145.291 million in interbank turnover, down from N172.892 million on Friday.…

Spain Closes Its Airspace to U.S. Jets Involved in the Iran War Spain has drawn a sharp line in the sky. In one of its most decisive foreign policy moves in recent memory, the Spanish government has shut its airspace to all American military aircraft participating in the ongoing war against Iran — a dramatic stand that has placed Madrid on a collision course with its longtime ally, Washington. The announcement was confirmed by Foreign Minister José Manuel Albares, who made the declaration during a Monday morning interview on a Catalan radio station. Albares said the government’s position was rooted…

Ethereum (ETH) price surged by about 4% over 24 hours to $2,073 as the foundation executed major stake sales, boosting trading volume amid capital rotation into the dominant altcoin.

NCC Orders Telcos to Compensate Subscribers for Poor Service The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service experience is below specified targets within specific locations. The Commission’s position is that subscribers should not be required to bear the full burden of service disruptions when operators fail to meet the prescribed standards of service delivery. Under this directive, erring operators will compensate affected users directly for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs). Mobile Network Operators (MNOs) shall be required to pay these compensations for…

Circle’s EURC climbed by 100 basis points over 24 trading hours to $1.14, as European countries’ single-currency stablecoins dominated the non-USD market.

GateToken Price Climbs Amidst Move to Attract New Users GateToken price (GT) climbed to $6.55 in 24h, modestly outperforming a flat market, primarily driven by a beta-driven move with Bitcoin in the absence of a clear coin-specific catalyst. Gaining 2% over 24 hours, GT market capitlisation rose to $755 million on Sunday, with a sharp slowdown of 42% in trading volume to $1.6 million. GateToken is strengthening its foundation through financial transparency.  Its price move aligns with Bitcoin’s 0.46% gain over the same period, suggesting GT is tracking broader market beta. GateToken is expanding its ecosystem with new user incentives…

Namibia’s growth is projected to remain relatively unchanged in 2026, on the back of weak diamond demand and the expectation that debt will surge.

XRP Price Dives on Cooling ETF Demand, Ledger Payments Ripple (XRP) dived by about 2% in the last 24 hours to $1.36, closely tracking the broader market decline, primarily driven by macro-induced selling pressure. The move aligns with Bitcoin’s 2.25% drop amid cooling institutional Exchange Traded Fund (ETF) demand and geopolitical concerns, and is further amplified by deteriorating on-chain fundamentals for XRP itself. Early trading data on Friday showed that the entire crypto market cap fell 2.01% in 24h, with Bitcoin down 2.25%. XRP’s nearly identical move indicates it’s trading on beta, not coin-specific alpha. The sell-off was triggered by…

The average yield on Nigerian Treasury bills eased by 2 basis points in the secondary market to 17.82%, fixed income market analysts said in their latest updates.

China Warns Against Potential U.S. Ammunition Production in Philippines China on Thursday cautioned the United States (U.S.) and its allies against introducing bloc confrontation and conflict into the Asia-Pacific, following Pentagon plans for a U.S.-led initiative. The U.S.-led initiative to establish a new ammunition production line in the Philippines. “China always believes that military and security cooperation between countries should not target any third party, harm their interests, or undermine regional peace and stability.” The Chinese Foreign Ministry spokesperson, Lin Jian, said this during a routine news briefing. Describing the Asia-Pacific as a critical driver and stabiliser of global development…