Author: Marketforces Africa

The benchmark yield on Nigeria’s sovereign Eurobonds shrank in the international market as investors’ demand increased amidst solid economic ….

Interbank Rates Slide as Financial System Deficit Eased Interbank rates declined slightly to reflect moderate liquidity improvement in the financial system on Monday. The short-term benchmark interest rates had adjusted much higher over the previous week due to tight funding profiles. Liquidity balance in the money market is expected to improve; analysts anticipate inflows from the Federal Allocation Account Committee to hit the financial systems’ FAAC recently disbursed N1.41 trillion to three tiers of government from federally collected revenue. According to investment analysts, a chunk of the amount is expected to hit the financial system; boost the liquidity positions in…

No Disparity Between NNPC, NUPRC Oil Production Figures—Official The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said that its crude oil production figures tallied with that of the Nigerian Upstream Petroleum Regulatory Company (NUPRC). Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd. stated this in a statement on Monday. Soneye gave the clarifications against the backdrop of reports insinuating that the 1.54 million barrels per day (mbpd) for September cited by NUPRC was far below the 1.8mbpd for November cited by NNPC Ltd. He said the seeming disparity was as a result of the difference in the period…

Equities Investors Lose N123bn as GTCO, FBNH, STANBIC Plunge Equities investors lost about N123 billion on Monday as sell pressures hit banking names including GTCO, FBN Holdings, and Stanbic IBTC among others. The activities of sell-side traders plunged key performance indicators lower by 0.21%. Though some lightweight stocks rally, losses in large cap like GTCO (-3.39%), STANBIC (-3.09%) and FBNH (-1.57%) as well as WAPCO (-1.85%) and DANGSUGAR (-2.71%) outweighed. The All-Share Index nosedived by 202.75 basis points to close at 97,626.27. However, market activities inched higher as the total volume and total value traded for dropped by 83.09% and…

Nigeria’s economy grew by 3.46% year on year in the third quarter of 2024, the statistics office said in a new report.

Since the U.S. presidential election, the crypto market capitalisation has increased by more than $1 trillion, a review of trading data showed.

Equities analysts at Afrinvest Securities Limited, in their stock recommendation for the new week, advised investors to reduce their interest in Zenith Bank

Trading activities at the Nigerian bonds secondary market ended on a mixed note amidst interest rate hike expectations in the new week.

Despite the intervention of the monetary authority, the exchange rates of the Nigerian local currency,

With about 8% negative price movement in the just concluded week, the equities market value of Access Holdings Plc declined to N814 billion on Friday due to sell pressure from investors that sought to exit their positions.