SEC Plans to Delist Naira from P2P Crypto Trading to Curb Manipulation
Dr. Emomotimi Agama, the Acting Director General of the Securities and Exchange Commission (SEC), has announced the Commission’s intention to…
Category: Trade
Equity market bounces back with weekly gain of N812 Billion
After experiencing a downturn of N3.54 trillion in April, the Nigerian equity market saw its first weekly gain, amounting to…
NGX Starts May Strong, Investors Gain N303 Billion
The Nigerian Exchange Limited (NGX) began May with a positive trend, as the All-Share Index rose by 0.55%, gaining 537.15…
Sterling, FCMB, Stanbic see biggest jump in FX gain
While big banks grabbed attention for foreign exchange gains last year, Sterling Financial Holdings Plc, FCMB Group Plc, and Stanbic…
China’s exports likely swung back to contraction in March
A Reuters poll conducted on Thursday suggests that China’s exports likely declined in March, following a period of better-than-expected growth…
Forex losses hit currency dealers as CBN slashes BDC rate to N1,117.5/$
Currency dealers expressed concern over mounting losses and decreasing demand for the dollar as the naira continued to appreciate in…
FX market roars back to life with $1bn single-day trade
On Tuesday, Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017, signaling a significant shift…
Cadbury Nigeria Plc faces N19.09bn loss
Cadbury Nigeria Plc, a consumer goods firm, has reported a loss of N19.09 billion after tax for the financial year…
Nigeria’s exports to Netherlands hit N1.9 trillion in Q4
According to a report by the National Bureau of Statistics (NBS), Nigeria exported goods worth N1.9 trillion to The Netherlands…
Dollar strengthens against euro and pound
On Thursday, the dollar strengthened against the euro and pound after a Federal Reserve policy maker indicated no rush to…
Naira strengthens slightly against dollar, ends below N1,600/$1
In the official market, the Nigerian Naira experienced a modest improvement against the US Dollar, closing at N1,597.24 to $1,…
Headline: Nigerian Exchange Gains N2.12tn as Investors Anticipate Dividend Season
The Nigerian Exchange witnessed another positive week, with investors positioning themselves ahead of the dividend-paying season, resulting in a gain…
China foreign minister willing to strengthen communications with New Zealand
China expressed its intent to strengthen communication with New Zealand and collaborate to uphold peace and stability in the region…
US oil prices rise on expectations of strong demand
0il prices climbed on Wednesday, buoyed by optimistic forecasts of robust global demand, particularly in the United States, and despite…
$1.2 million trade facility to boost Nigeria’s export capacity
The World Trade Organization (WTO), in collaboration with the International Finance Corporation (IFC), has launched a N1.9 billion ($1.2 million)…
Demand for Transpower, FBNH drive NGX ASI up by 2.61%
Nigeria’s stock market witnessed a resurgence of positive sentiments fueled by strong demand for shares of Transpower, FBN Holdings, and…
Toilet Paper, Soap Among Nigeria’s Top Import from UK in 2023
Here’s a breakdown of the top 5 imported goods from the United Kingdom to Nigeria in the last six months…
Transcorp Power, FBN Holdings lift Market Cap by N194bn
The Nigerian Exchange witnessed a significant N194 billion gain in market capitalization on Tuesday, largely propelled by the strong performance…
Naira’s Official Exchange Rate Falls by 4.26%
The official exchange rate of the naira against the dollar concluded its three-day winning streak, experiencing a significant decline of…
Binance Discontinues Naira Services Amid Government Scrutiny
Binance, a major crypto exchange, announced the discontinuation of its services supporting the Nigerian naira (NGN) on its platform, effective…
U.S. Funding Legislation Blocks China from Buying Oil from Strategic Petroleum Reserve
The funding legislation introduced by congressional leaders on Sunday includes a provision to prevent China from purchasing oil from the…
Rand Merchant Bank optimistic about $11bn Indo-Nigeria trade
Rand Merchant Bank (RMB) highlights the promising prospects of trade between Nigeria and India, estimated at $11.8 billion, following the…
SEC May Wield Hammer on Binance, Other crypto Platforms For Illegal Operations
The Securities and Exchange Commission (SEC), Nigeria, is considering imposing huge fines, potentially amounting to billions of dollars, on Binance,…
Guinea’s Trade Unions Suspend Nationwide Strike
Guinea’s trade unions have lannounced the suspension of a nationwide strike that had brought the West African nation and its…
Bitcoin Tops $57 000 as Large Players Enter Market
Bitcoin reached a two-year high on Tuesday, driven by indications of significant investments from major players in the cryptocurrency market.…
Exchange Rate Fluctuates, Naira hits N1,900 and Rebounds to N1,354 Against USDT
In the past twenty-four hours, the Binance cryptocurrency platform encountered significant turbulence as the exchange rate between the naira and…
Japan Pledges Bilateral Treaties with Ukrainian Prime Minister
In a diplomatic move, Japan welcomed Ukrainian Prime Minister Denys Shmyhal in Tokyo on Monday to discuss Ukraine’s reconstruction efforts…
Nigeria’s Oil Output Increases to 1.43m Barrels in 2024
Nigeria’s oil production experienced a notable increase in January 2024, rising to 1.43 million barrels per day (bpd) from 1.34…
Russia Warns the West Over Asset ‘Theft’
Russia issued a stern warning to the West on Tuesday, cautioning that Moscow would respond firmly if the United States…