Author: Marketforces Africa

7 Vessels to Arrive Lagos with Petroleum Products – NPA The Nigerian Ports Authority (NPA) said that seven ships would berth with crude oil on Friday at the Lagos ports. The NPA, in its “Daily Shipping Position’, said that seven vessels, out of the nine expected, would berth diesel, crude oils bulk urea, petrol, and aviation fuel. “The remaining two vessels will berth with containers carrying different goods. The nine expected vessels will berth at Sifax, ENL Consortium Terminals, Apapa Bulk Terminal (ABT), among other terminals in Lagos, it said. The NPA said that a total of two vessels were…

The Central Bank of Nigeria (CBN) defended the naira with $30 million in FX sales to authorised dealer banks at a lower spot rate.   The amount has again

Interbank Rates Crash over Banks Excess Liquidity Interbank rates plunged significantly as pressure on the money market continued to ease following a spike in inflows. On Thursday, liquidity balance in the financial system expanded above local banks funding requirements. System liquidity remained positive and improved despite today’s foreign exchange (FX) settlement with funding rates falling significantly. Market data, report revealed that he liquidity balance in the financial system increased by 31%, ending the month with a strong surplus balance of ₦466.59 billion. Some analysts said the money market witnessed low outflow relating to primary market auction sales, especially OMO bills,…

The naira exchange rate has crossed to the other side, trading at N1675 per US dollar in the official FX market as the liquidity crisis deepened.

FBN Holdings Plc profit has increased by about 125% year on year to N526 billion in 12 months …

MTN Nigeria Plc net losses grew by more than 3335% year on year to N514.928 billion, details from the telecommunication company’s

Access Holdings Plc profit has increased by 82.8% year on year to N457.7 billion in 12 months, according to details from its financials.

The Federal Government is positioning the country’s carnival industry to tap from the global carnival market…

The naira falls again, albeit slightly in the foreign exchange (FX) market, as data showed that inflows dipped. Demand for foreign currency increased in the forex market amidst subdued liquidity.

The National Insurance Commission (NAICOM) has sacked the board and management of African Alliance Insurance Plc