- XRP Price Sinks to $0.9880 as Investors Liquidate Positions
- Crude Oil Prices Down in Week as Russian Exports Surge
- Bitcoin Falls to $67K as U.S. Yields Rise, Dollar Strengthens
- SK Hynix Tokenised bStocks Dips after HTX Announces SKHYB Listing
- Naira Closes at N1,353 Per US Dollar in Nigerian Forex Market
- DBN Inaugurates $275m Climate Finance to Boost Nigerian MSMEs
- Tinubu Flags Off $3.5bn Bakassi Deep Seaport Construction
- NGX Falls as Banking, Insurance Stocks Drag, Investors Lose N93bn
Banking
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Reflecting weak appetite for loans, deposit money banks (DMBs) significantly increased their placements at the Central Bank’s Standing Deposit Facility (SDF) window, reaching N6 trillion as of Thursday.
Dangote Sugar Refinery Plc’s (Ticker: DANGSUGAR) share price nosedived by 10% as investor sentiment deteriorated after an unimpressive earnings performance.
In the secondary market for Nigerian government bonds, trading activity was mixed as investors evaluated their portfolios against targets.
The naira declined against the US dollar at the official window on Thursday, marking the seventh consecutive session of depreciation in the local currency.
The U.S. dollar weakened against other major currencies amid geopolitical concerns and trade uncertainties, fuelling negative sentiment.