Gold soars to all-time high near $3,500 as Trump-Fed tensions roil markets
Post AMUGE
12 hrs
Onome Amuge Gold prices surged to unprecedented levels in Asian trading on Tuesday, propelled by persistent safe-haven buying amid heightened U.S.-China trade tensions and growing unease over President Donald Trump’s plans to reshape the Federal Reserve. Spot gold climbed 1.7 per cent to reach $3,482.76 per ounce in early Tuesday trading, while June gold futures […]
FUGAZ banks lead financial boom with 57.6% growth, grossing N17.4trn
Post AMUGEApril 21, 2025
Analysts raise concerns over limited trickle-down to real economy Onome Amuge Nigeria’s FUGAZ banks – First HoldCo Plc, UBA, GTCO, Access Holdings, and Zenith Bank – delivered another year of robust profit growth, as revealed in their full-year 2024 results. Notably, the combined gross earnings of these five largest lenders by capitalisation rose 57.6 per […]
Nigeria’s trade surplus jumps 107% to $2.2bn- CBN
Post AMUGEApril 18, 2025
Onome Amuge Nigeria recorded an increase in its trade surplus in January 2025, reaching $2.2 billion, representing a 107.5 per cent month-on-month (MoM) increase from the $1.06 billion surplus recorded in December 2024, according to the Central Bank of Nigeria (CBN) Monthly Economic Report for January 2025. The CBN attributed the rise in the trade […]
Global trade at risk as tariff war escalates, WTO cautions
Post AMUGEApril 17, 2025
Onome Amuge The World Trade Organization (WTO) has issued a warning, projecting a contraction in global goods trade this year, largely driven by a sharp decline in North American import and export volumes following the US tariff overhaul. The WTO’s revised forecast marks a substantial downgrade from its initial predictions of continued trade expansion in […]
Bearish sentiment drags market cap down 0.68% to N444bn
Post AMUGEApril 16, 2025
Onome Amuge The Nigerian stock market witnessed a reversal of earlier gains on Wednesday, as the All-Share Index (ASI) retreated by 0.68 percent to close at 103,851.88 points. This downturn erased N444 billion from investors’ portfolios, with market capitalisation also declining by 0.68 percent to N65.26 trillion. Trading sentiment was broadly mixed across sectors. This […]
FAAC disbursement to FG, subnationals down 1.5% to N1.578trn in March
Post AMUGEApril 16, 2025
Onome Amuge Nigeria’s Federation Accounts Allocation Committee (FAAC) disbursed a total of N1.578 trillion to the federal, state, and local governments in April, drawing from revenues generated in March 2025. The March allocation, roughly N25 billion lower than February’s payout, represents a 1.5 percent decline compared to the N$1.678 trillion allocated in the preceding month […]
Equities market up N19.1bn as inflation climbs in March
Post AMUGEApril 15, 2025
Onome Amuge The Nigerian stock market closed Tuesday with marginal gains, as the All-Share Index (ASI) edged up 0.03 per cent to settle at 104,529.62 points amidst the announcement of a hike in the country’s inflation levels for the month of March. The upward movement also boosted market capitalisation by 0.03 per cent to N65.7 […]
Global financial stability at risk from geopolitical tensions, IMF warns
Post AMUGEApril 15, 2025
Onome Amuge The recent global geopolitical tensions have the tendency to trigger declines in asset prices, strain financial institutions, and curtail lending to the private sector, ultimately dampening economic activity and jeopardising financial stability, the International Monetary Fund (IMF) has warned. The multilateral lender, in its latest Global Financial Stability Report, highlighted that events such […]
Hugely underbanked Nigeria dampens Tinubu’s credit lifeline
Post AMUGEApril 14, 2025
N180trn required for consumer credit economy – CREDICORP Onome Amuge President Bola Tinubu’s administration is set to launch the first phase of its Consumer Credit Scheme on April 21, a flagship programme aimed at extending credit facilities to working Nigerians and potentially unlocking greater economic participation. The government has lauded consumer credit as a vital […]
Trump’s tariffs dampen investors’ appetite as Nigerian bourse records biggest drop in 4 weeks
Post AMUGEApril 14, 2025
Bamidele Famoofo The trade war sparked by the United States President, Donald Trump, is taking its toll on investment in the Nigerian stock market as losses persist. While the 90-day pause on US tariffs offered some relief globally, it failed to spark a meaningful rally on the local bourse as the Nigerian equities market closed […]