Author: Marketforces Africa

The naira dropped week on week in the foreign exchange market on various contending market dynamics.

Conoil Plc turned to money making machine for its shareholders due to a strong price uptick of 37% week on week recorded last week. 

Helicopter Crash- NIMASA to Share Information with IMO The Nigerian Maritime Administration and Safety Agency (NIMASA) has pledged to share its findings on the recent helicopter crash into the Atlantic Ocean, near Bonny Finima in Rivers State, with the International Maritime Organisation (IMO). The Director-General of NIMASA, Dr Dayo Mobereola, said this in a statement by the Head of Public Relations Directorate of the Agency, Mr Edward Osagie, in Lagos on Sunday. Mobereola said that a Flight Data Recorder (FDR) and Cockpit Voice Recorder CVR otherwise known as the ‘Black Box’ was recovered at the weekend, through an Inter-Agency collaboration.…

Fitch Ratings has affirmed Oyo State’s creditworthiness or Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a positive outlook. 

Egypt’s inflation rate rose to 26.5% in October 2024 from September’s 26.4%, the Central Agency for Public Mobilization

Bitcoin Nears $80,000 as Buying Interest Heats up Crypto Market Market price of Bitcoin (BTCUSD) has surged near $80,000 at the last look today amidst sustained buying interest in the cryptocurrency markets. Ethereum (ETHUSD) price has also climbed, with Solana (SOLUSD), Cardano, Dogecoin and XRPUSD making similar uptrend. BTCUSD is trading at $79.700 range, while ETHUSD is above $3200, SOLUSD is near $206… As prices of top digital assets increase, market capitalisation of all the cryptocurrency has expanded above $2.7 trillion mark. Latest data obtained from CoinMarketCap.com showed that the global crypto market cap has increased by 4.79% to settle…

The Operatives of the National Drug Law Enforcement Agency (NDLEA), have seized tons of illicit drugs in Lagos, FCT…

The equities market capitalisation of the Nigerian Exchange (NGX) reduced by more than N118 billion week on week

Oil Prices Up as Market Expects Iran Export to Slow Oil prices saw a weekly gain due to U.S election win would impact Iran supply, while the market anticipates ceasefire discussion could start making headway on Donald Trump wins. Iranian oil exports dipped in October as Tehran loaded fewer cargoes waiting for the Israeli retaliatory attack for Iran’s missile strike, and they are expected to further slide next year when Donald Trump returns to the White House. Analysts believe that Trump’s election victory could snap the recent rises in Iranian oil sales as the president-elect is expected to ratchet up…

The future of the naira looks bleak under the current administration as the authority appears to have given preference to growing the nation’s external reserves