Author: Marketforces Africa

Cedar advisory to buyout 39.62% of Union Diagnostic shares

CBN plays soft on devaluation, says it is adjustment of price. The Central Bank of Nigeria has clarified that it did not devalued the local currency, Naira.

GTBank introduces free instant payment cash transfer. Guaranty Trust Bank Plc has introduced free instant payment cash transfer for its customers.

Nigeria’s Bank of Industry raises €1bn from international capital market. The Bank of Industry (BOI) says it has raised €1 billion from the international capital market.

CBN technically devalues Naira, sets rate at ₦380 per dollar. The Central Bank of Nigeria sold naira at ₦380 per dollar to deposits money banks on Friday, the move that analysts said that may end multi-tiered exchange rate regime.

Zenith, MTN Nigeria partner on mobile insurance service. Zenith General Insurance Company Limited has partnered with Telecommunications giant – MTN Nigeria to provide the first ever mobile insurance service in Nigeria.

Equity market sinks to ₦11.505 trillion amid COVID-19 Bouts. As Nigerians are becoming apprehensive following an increase in reported cases of COVID-19, the performance of equity market today plunged as year to date losses widen.

EFG Hermes bolster earnings, expands presence in Nigeria

EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM)

NSE: Year to date losses widen to 16% as investors fortunes plunge. Whirlwind of sell-offs has persisted on the Nigerian Stock Exchange, thus widen year to date losses to 16% on Tuesday.

Headline Inflation rate jerks up to 12.20% in February. Headline inflation surged 7 basis points (bps) to 12.20% driven by year on year increases in food and core inflation, the National Bureau of Statistics has revealed.