US Federal Reserve slashed fed fund rates by 50 basis points (bps) as hawkish monetary policy has now expired. In a statement, the Fed said recent indicators suggest that economic activity has continued to expand at a solid pace.

Equities investors trading highs and lows on the Nigerian Exchange (NGX) platform gained more than N316 billion due to positive price appreciation is some bellwethers on Wednesday.

The naira soared by more than 7% to N1,539.65 against US dollar in the official foreign exchange (FX) market on the influence of the Central Bank of Nigeria’s (CBN) move to reset exchange rate direction.

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