Author: Marketforces Africa

The average yield on Federal Government of Nigeria (FGN) bonds increased as market participants in

Naira Loses Shine, CBN Calls Meeting as Exchange Rates Worsen The Nigerian naira lost shine in the foreign currency markets as exchange rates worsened beyond analysts’ anticipation. According to currency movement data from FMDQ, the naira depreciated against the US dollar by 2.86% to close at ₦1,520.40 per dollar in the official market. The amount of US dollars available at the Nigerian autonomous foreign exchange market was insufficient to meet the demand for foreign currency required by eligible market participants to fulfill their import payment obligations. Foreign portfolio investors are still pulling money out of the market because fixed income…

Equities market capitalisation of the Nigerian Exchange (NGX) declined by N132 billion as investors reduced their shareholdings

 The Securities and Exchange Commission (SEC) has pledged to work with the Economic and Financial Crimes Commission

Nigeria Begins 2024 Oil Block Bidding Round The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced the bidding process for 2024 oil block licensing round. Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, announced this at the Miami, Florida, International Roadshow for the 2024 licensing round, hosted by the NUPRC, in collaboration with Petroleum Technology Association of Nigeria (PETAN). The commission said the 2024 block licensing round would last for approximately nine months. Komolafe, while unveiling the bidding round, said the exercise which was initially announced in April 29, 2024, was a significant leap in the strategic hydrocarbons development initiative. He…

Small and Medium Enterprises (SMEs) in the country have been advised to embrace Artificial Intelligence (AI) technology to grow their businesses. Founder

China has accused U.S. President Joe Biden of slapping new tariffs on Beijing as part of his re-election campaign and threatened retaliation.

Fitch Ratings has revised its outlook on the long-term issuer default ratings (IDRs) or creditworthiness of five Nigerian banks…

The International Monetary Fund, IMF, said so far, the fund has extended about $1.3 billion to support Zambia’s economic reform, details from an official

Oil prices edged higher amidst global economic uncertainties on expectation that demand in China and US would