Author: Olu Anisere

The market value of all listed stocks climbed to N106.2 trillion on the back of additional shares listed by GTCO Plc, while the key performance index slipped.

Sustained sell pressure in top cryptocurrencies dragged the market cap of all digital assets down to $2.8 trillion, according to data from trading platforms.

Nigerian Treasury Bills Yield Declines by 25bps The average yield on Nigerian Treasury bills (NTB) declined by 25 basis points (bps) in the secondary market as investors ramped up naira assets ahead of next week’s auction. Elevated yields on fixed interest securities continue to attract wealth managers and high-net-worth individuals with tighter risk appetites. Investment firms reported demand was observed at the long (-52bps) end of the curve, resulting in average yield printing 25 basis points lower, and settled at 18.17% on Thursday. The fixed income market witnessed subdued activity across most maturities, which kept rates flat along the curve,…

Oil Prices Fall as US Relaxes Sanction on Venezuela’s Export Oil prices declined in the global commodity market on Friday after the U, S eased sanctions on Venezuelan crude, reducing near-term supply concerns following a recent rally. Brent crude traded at $68.32 per barrel, down 1.7% from the previous close of $69.54. US benchmark West Texas Intermediate (WTI) declined 1.9% to $64.02 per barrel, compared with $65.25 in the prior session. Prices retreated after Washington partially relaxed sanctions on Venezuela’s state-owned oil company, Petroleos de Venezuela SA (PDVSA), allowing certain transactions related to the sale and transportation of Venezuelan-origin crude.…

Ripple (XRPUSD) slumped 5.43% over the last 24h to $1.80, underperforming the broader crypto market’s 4.8% drop. Top crypto assets have seen significant losses as sentiment waned.

CBN OMO Bills Auction Attracts N5.9 trillion in Subscription The Central Bank of Nigeria (CBN) open market operation (OMO bills) attracted significant subscription from deposit money banks (DMBs) and foreign portfolio investors (FPIs). The eligible market participants staked N5.9 trillion on short-term investment securities, which was more than the amount bet on the short-term bills rejected by the authority on Tuesday. As part of efforts to absorb excess liquidity in the financial system, the monetary authority floated OMO bills worth N600 billion for subscription on Thursday. The authority had rejected N4.9 trillion subscription received from investors that bid for OMO…

Oil Prices Surge as ‘Massive Armada’ Heads Towards Iran Oil prices surged further today as markets now brace for potential US military intervention against Iran, which could disrupt regional oil supplies. The price surge was also supported fall in US crude inventories, weak dollar performance across the forex market, and the Federal Reserve’s (Fed) policy decisions. Brent crude traded at $68.40 per barrel, up about 1.4% from the previous close of $67.46. US benchmark West Texas Intermediate (WTI) increased around 1.5% to $64.19 per barrel, compared with $63.23 in the prior session. US President Donald Trump said in a social…

Fitch Ratings has downgraded African Export-Import Bank’s (Afreximbank) Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-‘ with an outlook accorded as stable.

FGN, Aercap Partner to Strengthen Aviation Operational Capacity The Federal Government of Nigeria (FGN) and Aercap, an aircraft leasing company, have collaborated to strengthen aviation operational capacity in the country. This is contained in a statement issued in Abuja on Thursday by Mr Tunde Moshood, the Special Adviser on Media and Communication to the Minister of Aviation and Aerospace Development, Mr Festus Keyamo. Moshood said the duo made the agreement at the ongoing Airline Economics Growth Frontiers Global Conference in Dublin, Republic of Ireland. “Nigeria’s aviation transformation agenda gained further momentum on day two of the conference. “Discussions focused on…

Nigerian Naira Touches N1,392 Per U.S. Dollar at CBN Window The Nigerian naira briefly touched N1,392 per dollar at the Central Bank of Nigeria (CBN) foreign exchange window, reflecting the absence of liquidity pressure in the currency market. The Naira closed the session on a strong note, extending the previous day’s appreciation with a gain of 5bps against the US dollar at the Nigerian Foreign Exchange Market (NFEM) to settle at ₦1,400.48/$. The currency rally was driven by sustained inflows from foreign portfolio investors and local market participants, with the Naira trading within an intraday range of ₦1,392.00/$ and ₦1,415.00/$…