- Equities Investors Lost N1.47trn as Dangote Cement, Zenith Bank Dip
- Return to Fuel Subsidy Could Push Exchange Rate to N4k/$ -Oyedele
- DMO Hikes Interest Rates on Nigerian Government Bonds
- Daily FX Update: Naira Depreciates as FX Liquidity Tightens
- NGX Market Cap Sinks Below N160trn as Bears Strike Harder
- Deutsche Bank Adds Nigeria to Forex Watchlist, Bullish on Naira
- EIB Global, FCMB to Support Private Sector, Sustainable Agriculture with €85m
- Ripple XRP Stages Price Recovery as Sell Pressure Eases
News
Equities investors lost about N1.47 trillion in the Nigerian stock market as sell pressure hit Dangote Cement and tier-1 banking on Monday, trading data revealed.
Bitcoin, Ethereum, Binance Coin, and Ripple’s XRP plunged as renewed tensions in the Middle East triggered about $1 billion in cryptocurrency liquidations.
Stellar (XLM) price soared by 24.09% in 24 hours to $0.20872, dramatically outperforming a flat broader market, primarily driven by a landmark institutional partnership announcement.
President Bola Tinubu says Nigeria has stabilised and is gradually returning to the path of economic recovery and sustainable growth following difficult but necessary reforms undertaken by his administration over the past three years.
The dollar index (DXY) hovered near 99.2 as investors assessed the latest developments in the Middle East and mixed signals over a possible US-Iran agreement that could end the war and reopen the Strait of Hormuz.
South African Rand (ZAR) rallied against Western currencies late on Thursday after the South African Reserve Bank raised key rates by 25 basis points.
The African Development Bank (AfDB) Group has warned that Africa’s trade finance gap could exceed 100 billion dollars again if rising geopolitical tensions and disruptions to global trade and supply chains persist.