Author: Olu Anisere

BTC, ETH, XRP Rally Boost Global Crypto Market Cap to $2.7trn Price appreciation of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple XRP, and other top crypto names bolstered the global crypto market cap by about 5% in 24 hours to $2.71 trillion on Thursday. The crypto market is up 4.54% to $2.7 trillion in Bitcoinurs, primarily driven by a macro-driven rally in Bitcoin. It shows a strong correlation (91%) with Gold, indicating inflation-hedge positioning. The market’s rise is led by Bitcoin, whose 59.85% dominance underscores its role as the primary driver. The 24h correlation with Gold reached 91%, while…

NAICOM Unveils ISSP to Advance Insurance Penetration The National Insurance Commission (NAICOM) has unveiled the Insurance Sector Strengthening Programme (ISSP), to advance insurance penetration, financial inclusion and innovation within Nigeria’s insurance ecosystem. The Commissioner for Insurance, Mr Olusegun Omosehin, during the unveiling on Thursday in Abuja, said the programme offered a framework for advancing the growth and stability of the Nigerian insurance sector. Omosehin said the programme also focused on capacity building, gender inclusion, youth engagement, and Micro, Small, and Medium Enterprises (MSME) and value-chain development. He said the ISSP placed significant emphasis on awareness and education, adding that the…

Bank of Industry Signs N274.18bn Development Bond The Bank of Industry has formally signed the transaction documents for its ₦274.1868 billion Series 1 Development Bond, a 17.60% five-year fixed-rate bond due 2031. The signing marks the completion of a landmark domestic capital market transaction that was initially launched as a ₦250 billion offer and closed oversubscribed within five working days. Issued via BOI Financing SPV Plc under the Bank’s $1 billion Multi-Currency Instruments Programme, the bond attracted strong institutional demand from Pension Fund Administrators (PFAs), banks, Development Finance Institutions (DFIs), corporates and other institutional investors. The Nigeria Sovereign Investment Authority…

Nvidia to Acquire Hugging Face for $12.9 Billion in Biggest Open AI Bet Nvidia has agreed to acquire artificial intelligence developer platform Hugging Face for $12.93 billion, extending its AI spending spree and marking one of its largest acquisitions to date. The deal was confirmed by Nvidia on Thursday after weeks of rumors first reported by The Information. The chipmaker will pay about $11.9 billion to Hugging Face investors and offer an equity-based retention program of up to $1 billion for employees who join Nvidia. For Nvidia CEO Jensen Huang, the acquisition is a strategic bet that open models will…

Oil prices edged lower on Thursday after three consecutive sessions of gains as US ///

The Nigerian naira extended positive value appreciation against western currencies at the foreign exchange

The interest rate on a Nigerian Treasury bill with a 364-day maturity has fallen below 17%,

Financial and oil stocks, including FirstHoldco, Zenith Bank, Access Holdings, and Aradel…

GDP Growth Yet to Translate Into Improved Living Standards Some economic experts have expressed mixed reactions to Nigeria’s 4.43 per cent Q2 2026 Gross Domestic Product (GDP) growth, with some saying it is yet to translate into improved living standards for most Nigerians. The experts spoke with the News Agency of Nigeria in Abuja on Tuesday, while reacting to the latest GDP figures released by the National Bureau of Statistics (NBS). The NBS had reported that Nigeria’s real GDP grew by 4.43 per cent year-on-year in Q2 2026, higher than the 4.23 per cent recorded in quarter two of 2025.…

Wall Street dwindled as higher US Treasury yields weighed on investors’ sentiment…