Author: Marketforces Africa

The price of Bitcoin shed 3% over the past 24 hours, now trading below $34,400 from about $36,000, its highest level since May 2022.  It has since rallied 70% to $34,300.  Due to improved sentiment, the most expensive crypto asset has rallied some 30% in weeks.

Prices of crude oil increased as the US dollar weakened after the Fed’s decision to keep rates. Brent crude is up 0.6% at $87.34 a barrel while West Texas Intermediate is 0.7% higher at $83.07 a barrel.

The House of Representatives has advocated for the subsidization of malaria drugs in Nigeria, and even making them freely available at all Government Health Centres.

The benchmark yield on Nigerian Treasury bills was steadied as risk sentiment on the naira asset has shifted amidst uncertainties in economic direction. Still tracking behind the annual inflation rate, the yield has been hovering around 10-11% lately after moderate asset repricing.

The Presidency  on Thursday clarified that the N6 billion budget for  Presidential Yacht  and Vehicles,  emanated from a request from the  Nigerian Navy.

The Independent National Electoral Commission (INEC) has defended a supplementary budget of N18 billion at the National Assembly, largely aimed at addressing the issue of staff welfare and allowances.

The average yield on the federal government of Nigeria bond rose slightly on Thursday as investors

The Central Bank of Nigeria (CBN), has assured Nigerians that there is an adequate supply of Naira notes in the economy.

The Nigeria Customs Service (NCS) Lilypond Export Command, has between January and September 2023 facilitated the exportation of 12,438 containers with a Free On Board value of $518.69 million.

The Nigerian Deposit Insurance Corporation (NDIC), said it has paid N16 billion in liquidation dividends to depositors, creditors and shareholders of banks in liquidation in the past 20 years.