Author: Marketforces Africa

Equities investors recorded more than N131 billion daily gain on Wednesday in the Nigerian Exchange (NGX) following sustained buying interest in heavyweight and some lightweight stocks. 

The market price of Bitcoin fell to $60,300 on Wednesday due to strong retail selloffs in major names in the cryptocurrencies markets. Due to selloffs, the global crypto market cap has dropped by 3.48% over the day to $2.23 trillion, while trade volume climbed to $67.31 billion.

With relatively healthy buying interest, GTCO, Access Holdings and UBA Plc were among other Nigerian banking names driving momentum on the Nigerian Exchange (NGX) during early trading hours on Wednesday.

The average yield on Nigerian Treasury bills (NTB) climbed by 68 basis points as deposit money banks, and other authorised dealers in the fixed income market reduced their holdings amidst spot rates adjustment expectations.

With a plan to sell 17.7 billion shares, Access Holdings Plc has opened its rights issue to shareholders at N19.75 per share, the financial services group said at its signing ceremony held in Lagos.

The naira exchange rates worsen further across forex markets on Tuesday as the apex bank remained unfazed about the local currency’s two-week free fall. The exchange rate worsened in the official window for eligible FX demand.

Tier-1 banks drove daily gain in the equities market on Tuesday. The market capitalisation of all listed stocks climbed by about N26 billion as investors took positions in financial services stocks ahead of the second quarter of the 2024 earnings festival.

Afreximbank has signed an agreement to provide a Project Preparation Facility for the Government of the

Nigeria’s Minister of Foreign Affairs Yusuf Tuggar on Tuesday said the Federal Government would continue to

The National Centre for Technology Management (NACETEM) is developing a culture where Nigerians with capacity