- US, European Markets Dip on AI Concerns, Elevated Energy Costs
- Crude Oil Prices Decline on Renewed US-Iran Negotiations
- U.S. Dollar Index Slips Ahead of Key Economic Data
- 10-Year U.S. Treasury Yield Hovers Below 5%
- Nigeria Money Market Braces for ₦800bn Treasury Bills Auction
- Excess Liquidity in Banking System Rises to N6.94trn, Rates Mixed
- Fitch Affirms Ireland at ‘AA’ Rating with Stable Outlook
- DMO Raises N2trn from Bonds to Fund Nigeria’s Budget Deficit
Author: Marketforces Africa
MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.
Dr Aminu Maida, the executive vice chairman of the Nigerian Communications Commission
The equities market capitalisation of the Nigerian Exchange (NGX) declined further midweek due to rapid selloffs
President Bola Tinubu says his administration will ensure that Nigeria is reformed for greater efficiency
Firm Explains Impacts of Interest Rate Hike in the Market The Central Bank of Nigeria’s (CBN) monetary policy committee hiked the rate by 4% to 22.75% is expected to have impacts across the financial markets. A slew of analysts think the increase could be an overkill to the economy struggling to survive. The rate tightening was anchored on heightened inflationary pressures, the exchange rate volatility and the expectation of future hikes in inflation. In its response, advisory and wealth management investment firm Cedrus Group explained that monetary policy would reshape the direction of the financial market in the coming months.…
Bitcoin surpassed $59,000 in price on Wednesday, and it could hit a new all-time high within weeks…
Nestle Nigeria Plc posted more than N104 billion loss before tax in 2023, details
Oil prices fell further on midweek due to larger-than-expected crude inventory build in the US
Yield on Nigerian TBills Slides to 16.05% -MarketNews The average yield on Nigerian Treasury bills declined marginally as the market reacted to an interest rate hike by the Central Bank of Nigeria (CBN). The decision to increase the benchmark interest rate provoked buying interest in the secondary despite tightened liquidity levels. Consequently, the overnight lending rate expanded by 246 basis points to 26.7%, in the absence of any significant inflows into the system. Banks were noted to be scrambling for a liquidity boost, the same development witnessed last week in the market. Meanwhile, analysts are predicting that yield will remain…
Nigerian deposit money banks’ sustained demand for liquidity boost drove interbank borrowing rates higher in the money market
The Naira experienced a major decline in purchasing power at the official market as US dollar supply