Author: Marketforces Africa

The non-operating company of First Bank of Nigeria Limited, FirstHoldco Plc, lost 10% of its market value due to negative trade…

Bitcoin Crashes by 5.5%, Global Market Cap Sinks to $2.66Trn Bitcoin (BTCUSD) crashed by 5.5% in the past 24 hours to the $78.6k range as a result of significant positions liquidation triggered by extreme fear and geopolitical uncertainty. Price plunged below $84k – $94 range reported in November. The crypto market has been largely volatile with significant high-volume selloffs across top cryptocurrencies. Reflecting negative sentiment, Bitcoin, Ethereum, BNB, XRP, Solana, Tron, and Dogecoin, among others, are down, with extended weekly losses. The World’s largest digital asset closed below its 365-day moving average of $80K for the first time since April…

Electoral Act Passage: ADC Accuses Senate of Delay Tactics African Democratic Congress (ADC) has accused the Senate of deliberately delaying passage of the Electoral Bill 2025 to undermine reforms ahead of the 2027 general elections. The party , in a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, on Saturday in Abuja, warned that delayed amendments to the Electoral Act 2022 posed serious compliance and eligibility risks if not passed on time. It said mandatory electronic voter accreditation and result transmission were minimum safeguards for credible polls in 2027 and must not be sabotaged by legislative delays. According to…

Ripple (XRPUSD) has dropped sharply, recording a 12% weekly price decline due to persistent profit-taking in the cryptocurrency market.

Federal Government Reaffirms Drive for Gas-led Economic Growth The Federal Government of Nigeria has reaffirmed its commitment to positioning natural gas as a cornerstone of Nigeria’s economic growth, energy security, and social development. Dr Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas) made this known on Friday in Abuja. The minister spoke when the Nigerian National Petroleum Company Limited (NNPC Ltd.) officially unveiled its Gas Master Plan (GMP) 2026 and initiatives. A major highlight of the plan is its emphasis on domestic gas utilisation, particularly through the Liquefied Petroleum Gas (LPG) Cylinder Supply Expansion Initiative, which aims to scale…

CBN Allots N2.1 Trillion OMO Bills to Banks, FPIs at 17.25% The Central Bank of Nigeria (CBN) sold N2.1 trillion worth of OMO bills at the main auction floated on Friday to reduce excess liquidity in the financial system. The authority floated another OMO bill for sales amidst excess liquidity and some money market repayments, targeting banks and foreign portfolio investors (FPIs). The rates on short-term investment securities remain attractive, with eligible market participants setting higher bids against standard offers. In its investors update, CardinalStone Securities Limited revealed that at the OMO auction today, the CBN sold a total of…

Gov. Babajide Sanwo-Olu of Lagos State has appealed to individuals and corporate organisations to support the state’s security architecture

The National Office for Technology Acquisition and Promotion (NOTAP) says Nigerian software developers have reached significant milestones with locally made applications generating over one million dollars in sales across domestic and regional markets.

ECOWAS Bloc Grows By 4.6% Amid Global Economic Headwinds — President ECOWAS President, Dr Omar Touray, says the bloc recorded 4.6 per cent economic growth in 2025, in spite of global economic challenges, and envisages 5 per cent growth in 2026. Touray disclosed this on Thursday in Abuja during a meeting with development partners, while highlighting the commission’s 2025 Annual Report. He said that ECOWAS outperformed the continental average in 2025 through structural reforms, rising investment in mining and energy, improved regional trade facilitation, and a strong rebound in services, transport and tourism. “This robust performance is driven by structural…

Zenith Bank Plc has inched closer to N3 trillion in market capitalisation ahead of the release of fourth-quarter 2025 earnings. The bank share price has crossed N71 again, reflecting sustained investor demand.