- Foreign Reserves Top $3.4trn as China Increases Gold Buying
- Hedera Slips as Thin Volume Exposes Weak Buyer Conviction
- DeFi Token Uniswap Rises 4% Amidst Crypto Market Downturn
- Ethereum Price Ticks Up as Crypto Market Rout Eases
- Cardano Drops to $0.18 as Investors Rotate Out of Altcoins
- XRP Price Falls to Multi-Week Low, Dip Buyer Conviction Low
- Binance Coin Price Rises on Broader Crypto Market Rebound
- Nigerian OMO Bills Attract N5.7trn from Retail, Corporate Investors
Author: Olu Anisere
Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.
Bitcoin price (BTCUSD) topped $63k on Monday, recovering from a steep weekly decline, primarily driven by a massive short squeeze triggered by geopolitical optimism.
Global equities markets closed on a bearish note on Friday, with Wall Street, the FTSE 100, and the Euro Stoxx 50 indices falling week-on-week as geopolitical disruptions dampened investor sentiment.
Oil prices surged by about 5% on Monday as escalating tensions in the Middle East heightened concerns over potential supply disruptions amidst airstrikes.
Nigeria will leverage the €59 million West Africa Sustainable Ocean Programme (WASOP) to combat illegal, unreported and unregulated (IUU) fishing and strengthen marine resource management.
Ripple (XRP) price surged by 5.32% to $1.15 in a technical relief rally, driven by a beta-driven rebound as the crypto market stabilised after a sharp sell-off.
BUA Cement Plc’s share price declined by 10% week-on-week due to profit-taking amid a broader sell-off in the Nigerian stock market. The cement company’s share price printed at N378, though low volume was seen all week, reflecting BUA’s concentrated holding.
The market value of Wema Bank Plc.’s 40.118 billion outstanding shares declined by more than 10% over the last five trading sessions due to sell pressure to N1.203 trillion.
The Nigerian stock market shed N4.41 trillion over the last five trading sessions as investor sentiment turned negative, with some efforts channelled into portfolio rebalancing.
Bitcoin Cash price (BCHUSD) declined by 3% to $214.5 on Saturday, primarily driven by a broad market sell-off amid extreme fear sentiment.
Brent and US West Texas Intermediate (WTI) climbed as the oil market extended its weekly rally on renewed geopolitical tensions in the Middle East and concerns over disruptions to crude flows through the Strait of Hormuz.