Equities market dips as investor sentiment wanes
The Nigerian equities market closed on November cautiously, with the NGX All-Share Index (ASI) dipping by 0.33% to 97,506.87 points…
Category: Market
Naira appreciates to N1,755 per dollar in the parallel market
The naira appreciated in the parallel market on Tuesday, strengthening to N1,755 per dollar from Monday’s rate of N1,770 per…
CBN Implements $100,000 Minimum Trade for Banks in FX Market
The Central Bank of Nigeria (CBN) has introduced new guidelines for interbank foreign exchange trading through the Electronic Foreign Exchange…
Nigerian Capital Market Raises N2.7tn to Boost Economy in 2024
The Securities and Exchange Commission (SEC) announced that banks and other companies raised ₦2.7 trillion from the Nigerian capital market…
Stock Market Declines 0.21% on Profit-Taking in GTCO and 29 Other Stocks
The Nigerian Exchange Limited (NGX) All-Share Index fell by 0.21% at the start of the trading week, closing at 97,626.27…
TD Bank prepares to hire compliance monitors as US CEO reassures staff
Toronto-Dominion (TD) Bank is taking significant steps to address its compliance shortcomings after becoming the largest U.S. bank in history…
Dollar dips with Treasury yields after Bessent pick
The U.S. dollar fell from a recent high after President-elect Donald Trump nominated Scott Bessent, a fiscal conservative and Wall…
Stock Market Up 0.11% WoW as Analysts Predict Mixed Trading
The Nigerian stock market ended last week on a positive note, with the NGX All-Share Index (ASI) gaining 0.11% to…
Stock Market Inches Up Amid Speculation of Interest Rate Hike
The Nigerian stock market recorded a marginal gain of 0.1% last week as investors added N77 billion to their portfolio.…
Equity Market Gains N77bn as Capitalisation Approaches N60tn
Last week, the Nigerian equity market added N77 billion in value, edging closer to a total market capitalization of N60…
Dollar recovers after three-day slide as investors await cues on Trump policies
The U.S. dollar gained back some ground after a three-day slide, reaching a one-week high. The recovery followed a period…
London Stocks Edge Up as Inflation Data Dents Rate Cut Hopes Sage Shares Surge
London’s stock markets showed modest movements on Wednesday, with the FTSE 100 edging up by 0.07% and the FTSE 250…
Naira Faces Further Depreciation Amid Festive Season Demand
Analysts at Meristem Securities have projected a worsening depreciation of the naira due to heightened demand for foreign exchange during…
Lafarge WAPCO and Others Propel Equity Market with N136bn Gain
The Nigerian equity market recorded a significant boost on Tuesday, gaining N136 billion in market capitalization. The All-Share Index rose…
Investors’ Interest in Zenith Bank Boosts Nigerian Stock Market
The Nigerian stock market opened the week with a slight gain of 0.03%, fueled by renewed investor interest in Zenith…
Decline in Commercial Paper and Corporate Bond Issuances Amid Rising Borrowing Costs
In the first half of 2024, the Nigerian capital market saw a significant drop in commercial paper and corporate bond…
UK Urges Nigeria to Tackle Market Distortions by Government Agencies
The United Kingdom has called on Nigeria to accelerate its economic reforms, particularly by addressing market-distorting practices linked to state-owned…
Naira drops to 1690.37/$ as dollar supply falls
The naira fell 2.31% on Monday at the National Autonomous Foreign Exchange Market (NAFEM), closing at ₦1,690.37/$, down from ₦1,652.25/$…
Renewed Interest in UBA, Zenith Bank, 28 Others Lift Stock Market
The Nigerian Exchange Limited (NGX) closed positively on the previous trading day, recording a 0.16% gain, driven by renewed investor…
Nigerian Stock Market Rebounds with N96bn Gain, Driven by Key Sector Advances
The Nigerian Exchange Limited experienced a positive shift on Wednesday as investors gained N96 billion, offsetting a previous loss of…
Exchange rate to hit N1.993/$ by 2028 — Fitch
Fitch Solutions projects a significant depreciation of Nigeria’s naira, forecasting it could fall to N1,993 per US dollar by 2028.…
FIRS Chief Highlights Taxpayer-Friendly Reforms at Lagos Trade Fair
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, emphasized the agency’s commitment to becoming more…
Verve Hits 70 Million Payment Cards in Nigeria and Consolidates Market Leadership
Verve International, Africa’s largest domestic payment scheme, has reached a significant milestone with over 70 million payment cards issued in…
FBN Holdings Launches N150 Billion Rights Issue to Strengthen Lending and Digital Expansion
FBN Holdings is set to raise N150 billion from its shareholders through a rights issue, offering nearly six billion shares…
Nigeria’s Foreign Exchange Market Faces Ongoing Challenges Despite Recent Measures
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange (FX) market, Fitch Ratings reports that…
Robinhood shares drop as growth push takes a toll on Q3 results
Robinhood Markets, Inc. saw its shares plummet nearly 11% before the market opened on October 31, following a strong performance…
Nigeria stops Cooking Gas Exports to Address Rising Domestic Prices
The Nigerian government has announced a suspension of the export of Liquefied Petroleum Gas (LPG) to prioritize domestic supply and…
Nigerian Airlines Turn to Dangote Refinery for Local Jet Fuel as Import Costs Soar
Nigerian airline operators have confirmed that, they are sourcing Jet A1 fuel from Dangote’s refinery to curb the high cost…
Finance ministry, Customs’ bureaucracy stalls zero food import take-off
The United States Chamber of Commerce has committed $320 million toward mortgage refinancing and SME financing in Nigeria, marking a…
Three marketers to import 141m-litres petrol
Three major oil marketers are set to import about 141 million litres of Premium Motor Spirit (PMS) into Nigeria this…