- Fitch Affirms China at ‘A’ With Stable Outlook
- Oil Prices Tumble by 5% as Iran Opens Strait of Hormuz
- XRP Gains 4% as Ripple Sets $1bn Income Target for 2026
- DOT – Polkadot Gains on T. Rowe Price Active Crypto ETF Approval
- World’s First Trillionaire Shows Next Wave of Wealth Creation – CEO
- Bitcoin Price Increases on US-Iran Sign Islamabad Declaration
- Sell Pressure Hits Nigerian Bonds, Yield Rises to 16.70%
- Investors Maintain Bearish Pose on T-Bills Ahead of Inflation
Economy
The benchmark yield on Federal Government of Nigeria (FGN) bonds climbed to 16.70% in the secondary market ….
Gov. Umo Eno of Akwa Ibom has presented an Appropriation Bill of N845.63 billion for the 2024 fiscal year to the state House of Assembly for consideration and approval.
Fitch Ratings has downgraded Nigeria-based Coronation Merchant Bank Limited’s (CMB) Long-Term Issuer Default Rating (IDR) to ‘CC’ from ‘B-‘ and its Viability Rating (VR) to ‘cc’ from ‘b-‘.
Equities analysts at Afrinvest Limited have kept shares of Fidelity Bank, FBNH and Stanbic IBTC on sell recommendation due to weak upside potential, detail from its week stock recommendation shows.
President Bola Tinubu has called for German investment in critical sectors of Nigerian economy such as power and rail transportation.
The average yield on the Federal Government of Nigeria (FGN) bond rose by 8 basis points
Sun Africa LLC, an international organisation, has pledged to support the President Bola Tinubu’s administration with 2.2 billion dollars to provide vital power infrastructure for Nigeria.