Author: Olu Anisere

Bitcoin Climbs as Crypto Investors Regain ‘Mojo’ Bitcoin (BTC-USD) price trade position in the cryptocurrency market on Wednesday as retail, and institutional investors regained their mojo with heightened market activity and engagement. Increased retail and investors demand for BTCUSD also drove the global crypto market cap by about 0.7% to $2.88 trillion. This week, BlackRock spot Bitcoin exchange traded fund (ETF) made another major move scooping up 480 BTC worth a whopping $42 million. According to data from the CoinMarketCap.com, the world’s largest digital asset, BTCUSD, has gained 4.61% in the last seven trading session, trading at $87, 824 at…

US Dollar Extends Bullish Momentum in FX Markets The US dollar rose against its major trading partners early Wednesday in the foreign exchange (FX) markets except for a decline versus the Canadian dollar, ahead of durable goods orders data for February. In the first three month in 2-25, the dollar index – which had rallied strongly between September and January – is headed for a roughly 4% drop. It was last stalled at 104.28. A quick summary of foreign exchange activity heading into Wednesday showed that USDEUR fell to 1.0791 from 1.0795 at the Tuesday US close and 1.0821 at…

Oil Prices Increase Amidst Supply Risk, Demand Signal Oil prices climbed in the global commodity market on Wednesday as supply concerns grew amid US efforts to curb Venezuelan and Iranian exports, while a larger-than-expected drop in US crude inventories added support. The international benchmark, Brent crude, increased by around 0.1% trading at $72.66 per barrel, up from $72.59 at the previous session’s close. The US benchmark, West Texas Intermediate (WTI) rose by about 0.12%, settling at $69.15 per barrel, compared to its prior session close of $69.07. US President Donald Trump signed an executive order on Monday imposing tariffs on…

Yield on Nigerian Treasury Bills Falls Ahead of Auction The average yield on Nigerian Treasury bills yield fell in the secondary market due to pre-auction demand by investors seeking to lock in profit.  The average yield declined by 4 baiss points (bps) to 19.24% as market participants actively bid across the curve haead of Central Bank of Nigeria (CBN) primary market auction (PMA) on Wednesday.  Trading activities were focused on mid-to-long tenors – June 2025, Sept 2025, Mar 2026- while some sell side actors anticipated higher yields at midweek auction. Demand have been relatively stabilise amidst expectation that inflation will…

GTCO Rises by 6.53% to N2.116 Trillion Guaranty Trust Holding Company (GTCO) Plc. attracted investors’ attention in the equities segment of the Nigerian Exchange on Monday, driving the banking index higher on the day with 6.53% capital appreciation. The financial services group share price surged to N62 in the equities market as 6.758 million shares valued at about N418 million exchanged hands. The latest share price surge marked the peak level attained by GTCO in the last seven trading sessions in the stock market. The most capitalised banking group had doubled down on its 52-week low, now trading at a…

No Hiding Place for Violators in Capital Market – SEC Warns The Securities and Exchange Commission (SEC) says there is no hiding place for violators in the country’s capital market. The Director-General of SEC, Dr Emomotimi Agama, gave the warning in a notice to operators on Sunday in Abuja. Agama said in the notice that market operators engaging in unscrupulous activities would not be allowed to go unpunished. He described investors’ protection as a fundamental principle for the commission. He noted that the Investments and Securities Act (ISA) 2007 clearly outlined the objectives of securities regulation in the country. According…

S&P Affirms Cameroon Ratings with Stable Outlook S&P Global Ratings has affirmed its ‘B-/B’ long- and short-term local and foreign currency sovereign credit ratings on Cameroon with outlook accorded as stable. The stable outlook balances risks from Cameroon’s dependency on oil and gas exports, global geopolitical uncertainty, and still-weak–albeit improving–public finance management against signs of economic resilience in key sectors including mining, forestry, and agriculture, and continued donor support, S&P Global said in its rating note. “We could lower the ratings on Cameroon in the next 12 months if government liquidity pressure were to build up–for example, from a large…

NAFDAC Destroys Fake Drugs worth N1 Trillion The National Agency for Food and Drug Administration and Control (NAFDAC) has destroyed fake, substandard, and falsified drugs seized during a recent operation in Onitsha and Aba. The unwholesome pharmaceutical products were destroyed at the Anambra State Waste Management Agency’s dump site in Awka on Friday, following standard disposal procedures. Prof. Christina Adeyeye, NAFDAC Director-General, who supervised the destruction, stated that 100 containers of such products valued at ₦1 trillion were seized. Represented by Dr Martin Iluyomade, Director of Southeast Zonal Operations, she said the quantity of banned psychoactive drugs found could destabilise…

Nigerian Bonds Yield Climbs to 18.63% Ahead of Auction In the secondary market, the Federal Government of Nigeria (FGN) bonds traded soft, albeit with a bearish tilt, as evidenced by a three basis point increase in the average yield, which settled at 18.63%. Sell-offs were concentrated at the mid (+5bps) and long (+4bps) ends of the curve, specifically the JUL-31 (+16bps) and JAN (+24bps) papers, according to investment analysts notes. The selloffs persisted in the market as high rates fever intensified following the outcome of yesterday’s NTB auction result. The upward adjustment to spot rates guided trading activities significantly as…

Naira Tumbles as FX Demand Pressures Heat Up, Spread Reduces The naira dropped against the US dollar in the foreign exchange market as demand for greenback continues to outpace the amount of hard currency in the supply side. FX spot data showed that the Naira depreciated by 0.16% in the official window, closing at ₦1,530.52 per dollar. Similarly, the Naira ended the day at ₦1,580 per dollar in the parallel market. This left the gap between the two markets at N50 amidst sustained FX intervention by the Central Bank of Nigeria (CBN). The monetary authority has continued to boost FX…