- DMO Hikes Rates on Bonds to Meet N1.2trn Borrowing Target
- S&P 500 Declines as SpaceX, Alphabet, Meta Slide
- Rates Top 20% as CBN Sells N2.7trn in OMO Bills to Investors
- DeXe Price Climbs by 28% on Explosive Trading Volume
- Naira Gains as Nigeria’s Foreign Reserves Top $51 Billion
- GTCO, Zenith Bank Drive N1.52trn Gain in Nigerian Exchange
- Ethereum Price Rises as Morgan Stanley Files Low-Fee Spot ETF
- Bank of England Launches Stablecoin Rules for UK Users
Author: Marketforces Africa
MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.
The naira experienced a huge value decline across forex markets as sustained demand for the US dollar began to test the Central Bank of Nigeria’s (CBN) resolve not to defend the local currency.
The Comptroller-General of Customs (CGC), Adewale Adeniyi, has been honoured with the
International payments for transactions related to letter of credit issued to foreign businesses by deposit money banks (DMBs) on behalf of their customers sank by 46.10% year on year to about $806 million in May 2024, data from the apex bank revealed.
As liquidity pressure persisted, local deposit money banks (DMBs) increased the speed of their borrowings at the Central Bank of Nigeria’s (CBN) standing lending facility (SLF) at a relatively high rate in the just concluded week,investment firm said.
Financial Health of Top Companies in Nigeria Plunged over FX Reform
International financial analytics corporation, S&P Global, has described the 650,000 barrels per day (bpd) Dangote Oil Refinery and Petrochemicals company as capable of resolving Nigeria’s foreign exchange (forex) issue and its huge pressure on the local Naira currency, while also catalysing the country’s economic development.
The Transmission Company of Nigeria (TCN) says national grid was restored at about 9.57 p.m. on Saturday after a partial collapse.
Ikeja Hotel Plc ended trading sessions on the Nigerian Exchange (NGX) 12% cheaper than its opening market price. The hospitality company’s reduced market value happened following disengagement by some investors in an effort to realign their portfolios.
Buying interest in Coronation Insurance (Ticker: WAPIC) bolstered the company’s market value by 18%, trading data from the Nigerian Exchange revealed.
Oando Plc was one of the stocks that bucked negative trend on the Nigerian Exchange (NGX) last week with 13.3% positive price movement. Demand for the company