- XRP Jumps as Ripple, Coinbase Partner to Expand Access to RLUSD
- Affordable Energy Critical to Nigeria’s Climate, Economy- Presidency
- Oil Rises as Attacks on Saudi Energy Assets Raise Supply Concerns
- MTN Plans Large Data Centre in Nigeria – Mupita
- CBN to Consider Banks’ Challenges over Data Localisation
- Oyedele Defends Nigeria’s $21.7 Billion Borrowing Proposal
- UBA Breaks New Ground with Google Pay for Visa, Mastercard Users
- CBN Trims Interest Rates on Treasury Bills, Raises N71bn
Economy
Fitch Ratings has revised the outlook on Nigeria’s Long-Term Issuer Default Ratings (IDRs) to positive from stable and affirmed the IDRs at ‘B’.
The Central Bank of Nigeria (CBN) hiked the discount rate on Nigerian Treasury bills with 364-day maturity by 83 basis points to 16.73% at the main auction conducted on Wednesday.
The average yield on Federal Government of Nigeria (FGN) bond dipped to 15.4% in the secondary market, as investors actively seek real returns in the naira curve.
The latest X-Compliance Report released by the Nigerian Exchange Group (NGX Group) points to a deeper structural liquidity challenge in Nigeria’s equity market rather than a temporary, cyclical weakness.
The average yield on Nigerian OMO bills climbed to 21.1% in the secondary market, reflecting investors’ measured decisions to adjust their holdings in these short-term investment securities.
Oil prices are set to jump sharply when trading resumes Sunday night, as unprecedented U.S. and Israeli strikes on Iran have intensified Middle East tensions.
Global equities markets closed on a mixed note as investors sought sanctuary in the UK, trimming holdings in tech-heavy U.S. and EU benchmarks.