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FXTM Comments: Markets Tense Ahead of Delayed Healthcare Vote

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FXTM Research Analyst Lukman Otunuga comments on in times of unease, Gold remains a trader’s best friend and such was displayed on Thursday when the metal punched above $1253.

The mounting anticipation ahead of the delayed healthcare vote later today has created an unnatural calm across the financial markets with investors adopting a cautious approach. Asian shares concluded mostly mixed during early trading on Friday amid the subdued trading mood with the loss of appetite for risk limiting gains in Europe.

Wall Street could come under pressure with participants on standby ahead of a critical healthcare bill that will assess Trump’s administration’s ability to push through legislations.

While Trump has threatened that without a vote to the healthcare bill he will move on to other agenda’s, markets may interpret a potential failure today as something that could create some headwinds for the pending tax reforms and infrastructure spending.

Gold Awaits Healthcare Vote 
The renewed protectionism concerns and Trump jitters have triggered risk aversion this week consequently attracting investors to safe-haven assets.

In times of unease, Gold remains a trader’s best friend and such was displayed on Thursday when the metal punched above $1253. Although prices have edged slightly lower on Friday amid a stabilizing Dollar, bulls remain somewhat in control on the daily charts above $1225.

Much attention will be directed towards the pending healthcare vote this evening which could create further uncertainty if the bill is rejected. With the growing threat of a rejection of the healthcare bill raising doubts over Trump’s ability to move forward with the pro-growth policies, the uncertainty should redirect participants to Gold.

From a technical standpoint, bulls need a solid break back above $1250 for a further incline higher towards $1260.

Commodity spotlight – WTI Crude
WTI Crude found itself slightly supported on Friday following reports of Saudi Arabia’s production to the United States falling which offered a slight window for bulls to attack. Despite this new development, the oil markets remain under pressure as fears heighten over the global glut.

Sentiment remains firmly bearish towards oil with further downside expected as the fading confidence over the effectiveness of OPEC’s output cut encourages bears to install renewed rounds of selling.

While speculations have heightened over OPEC extending the supply cuts by another six months, questions may be raised if such may stabilize the oil markets especially when factoring the resurgence of U.S Shale.

From a technical standpoint, WTI remains heavily pressured on the daily charts. Bears remain in firm control below $50 with the next level of interest at $47.

Currency spotlight – EURUSD
The EURUSD has bounced back in style this month as the receding political risks in Europe rekindled appetite for the single currency.

Technical traders will be paying very close attention to how prices react to the 1.0800 resistance with a breakout encouraging a further incline higher towards 1.0850.

If economic data from Europe continues to display signs of stability and the Dollar weakens further, then the EURUSD could be poised for further upside in the short to medium term.


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Natasha: TMG Demands Probe of Alleged Data Breach in Failed Recall

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Senator Natasha Akpoti-Uduaghan and Godswill Akpabio
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Transition Monitoring Group (TMG) has called on the National Data Protection Commission (NDPC) to investigate what it described as an alleged unauthorised and fraudulent use of personal data of constituents in the failed recall attempt of Natasha Akpoti-Uduaghan, Senator representing Kogi Central in the National Assembly.

Natasha: TMG Demands Probe of Alleged Data Breach in Failed Recall

The organisation expressed concern that voters’ personal information may have been illegally harvested and deployed without their consent to generate signatures for the recall petition.

Speaking at a press briefing in Abuja, Auwal Rafsanjani, chairman, TMG,  observed that such an act amounts to a gross violation of the Data Protection Act, which he said, also undermines public trust in the country’s democratic process.

He called for a forensic verification of the Voter Identification Numbers (VINs) submitted in the recall process, using the Bimodal Voter Accreditation System (BVAS).

TMG’s position came a few days after the Independent National Electoral Commission (INEC) dismissed the petition seeking to recall Natasha for failing to meet constitutional requirements.

The commission had revealed that following a thorough review of the signatures and thumbprints submitted by petitioners, only 208,132 signatories were verified, falling short of the required 237,278.

Rafsanjani, however, expressed concern on how more than 50 per cent of total registered voters in Kogi Central quickly turned up to sign the petition for the recall of Natasha in a country, he said, has historically experienced a worrisome level of voter apathy.

According to him, the incident calls for deeper insight that can only be brought about through thorough investigation.

“While it is noted that INEC has terminated the process at the stage of counting signatories to the petition as the number of signatories did not meet the constitutional requirements for further verification, the seeming fraud of harvesting voters’ details from anywhere to file the petition cannot be overlooked,” he said.

Rafsanjani added: “We are also deeply worried that against the provision of the Data Protection Act, personal data of citizens of Kogi Central Senatorial District have been harvested and used without their consent. This fraud must be investigated by the National Data Protection Commission to assure Nigerians that their personal data will indeed be protected as envisaged by the law.

“Further investigations to verify and authenticate the Voter Identification Number (VIN) through the BVAS must be carried out. Where investigations reveal a fraudulent process, the petitioners must be brought to justice to serve as deterrent to those who would be willing to be induced and used by politicians for this kind of charade in the future.”

But the NDPC, has, reiterated commitment to enhancing data privacy among public and private bodies in the country.

Dr. Vincent Olatunji, national commissioner and CEO, said the commission aims to enforce stricter data protection measures to safeguard sensitive public and private information, as well as promote regulatory compliance in line with relevant laws.

 


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NDPC to Strengthen Data Privacy Practices in Nigeria

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National Data Protection Commission (NDPC) has reaffirmed its commitment to strengthening data privacy practices across Nigeria’s public and private sectors.

NDPC to Strengthen Data Privacy Practices in Nigeria

Speaking at a regional capacity-building workshop in Katsina for ICT personnel from the north-western states, Dr Vincent Olatunji, national commissioner and chief executive officer of the NDPC, said the commission is stepping up enforcement of data protection regulations in line with national laws.

Olatunji, represented by Mr Princewill Nnaka, head of the Commission’s Enforcement Unit, noted that the NDPC is focused on raising awareness of data rights, improving staff training, and partnering with development agencies to boost capacity.

He said stronger data protection measures would help reduce incidents of cyberbullying, online financial fraud, and loss of lives due to breaches of privacy.

“Data protection is a global concern,” he said. “Our goal is to ensure Nigeria aligns with international standards in the safeguarding of personal data.”

Also speaking at the event, Naufal Ahmed, director general, Katsina State Directorate of ICT (KATDICT), said the training aimed to equip participants with the technical knowledge required to implement the Nigeria Data Protection Act (NDPA) 2023.

He added that the initiative would also enable participants to serve as Master Trainers and Data Protection Officers (DPOs) in their respective institutions.

The three-day programme drew 40 participants, including four officers each from Kaduna, Kebbi, Jigawa, Sokoto, and Zamfara States, as well as 16 officials from various ministries, departments, and agencies in Katsina State.

 

 


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CJN Warns Judicial Officials against Data Breaches, Cyber Attacks

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Kudirat Kekere-Ekun, Chief Justice of Nigeria, has cautioned judicial officials to be vigilant against data breaches, cyber threats and vulnerabilities in online systems as the judiciary continues to adopt digital technology.

CJN Warns Judicial Officials against Data Breaches, Cyber Attacks

Kudirat Kekere-Ekun, Chief Justice of Nigeria,

Kekere-Ekun gave the caution while delivering a keynote address at the opening ceremony of the 2025 National Workshop on Information and Communication Technology, held at the National Judicial Institute in Abuja.

The CJN represented by Salisu Garba, administrator, National Judicial Institute, emphasised that, as the judiciary handles cases, files, personal information, and classified government data, it remains a prime target for cyber attacks.

She underscored the need to safeguard the integrity of court records, warning that any breach could carry serious legal consequences and pose risks to national security.

She said, “Thus, a strong cybersecurity framework must be implemented to safeguard judicial data from unauthorised access, hacking, and corruption.”

The CJN emphasised the need for judicial ICT personnel to receive proper training in cybersecurity best practices, encryption methods, and secure data management.

She commended the National Judicial Council for its proactive efforts in modernising the judiciary, noting that the Judiciary Information Technology Policy stands out as a key initiative, offering a clear framework for the effective deployment and use of ICT in court operations.

In his welcome address, Olumoh Abdulazeez, Institute’s Secretary, emphasised that the annual workshop was aimed at equipping court personnel with the skills needed to keep pace with technological advancements.

“The effective integration of technology can greatly enhance access to justice and lower the barriers for litigants.’”

 

 


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