- Overnight Rate Rises as Liquidity Dips, NOFR Steadies at 20%
- Oil Prices Surge, Brent Inches Close to $110 Per Barrel
- Wall St. Up on Mega-Stock Rally, Unrest Keeps European Markets on Edge
- Tinubu’s Reforms Spare Nigeria Deeper Economic Crisis -Shettima
- World Bank Group Launches 1st Digital Strategy to Expand Access
- Equities Investors Lost N1.47trn as Dangote Cement, Zenith Bank Dip
- Return to Fuel Subsidy Could Push Exchange Rate to N4k/$ -Oyedele
- DMO Hikes Interest Rates on Nigerian Government Bonds
News
The overnight lending rate rose as surplus liquidity in the banking system declined, keeping money market
The naira slipped against the US dollar as a 6% weekly drop in Bonny Light tightened inflows from hydrocarbon FX receipts, keeping Nigeria’s external reserves balance below $49 billion.
The Nigerian Exchange (NGX) market capitalisation dipped by N366 billion over the last five trading sessions, as investors painted the Broad Street in red.
XRP rallied, rising 3.44% to $1.36 as Ripple invests $6 million in Squid as part of a broader plan to embed its XRP ledger into the emerging interoperability layer that is steadily reshaping how blockchains connect and exchange value.
Binance Coin (BNB) price rose by 3.08% to $658.50 as Grayscale’s regulatory Clarity endorsement and the latest Uniswap proposal boosted investor sentiment.
Ethereum (ETH) gained 4.5% in 24 hours to $2,117.45, outperforming a broader market rebound, driven by a macro-driven relief rally and technical support holding at a critical level.
Bitcoin (BTC) rallied by 3.01% to $76,800.38, closely tracking a 3.03% gain in the total crypto market cap, driven primarily by a broad market recovery after a week of heavy selling pressure.