Author: Marketforces Africa

Naira Pops to N770.71 as Demand Pressures Reduce The Nigerian naira popped to N770.71 per United States (US) dollar and other major foreign currencies on Wednesday after two days of losing streaks as a result of reduced FX demand pressures at the official market. A major challenge for naira performance is the fact that foreign investors have maintenance distance from Nigeria as FX backlog estimated at about $10 billion owed to foreign interest has not been released for repatriation. Though FX analysts’ estimate showed the local currency is undervalued, the monetary authority lost a chance to achieve exchange rate convergence…

STOCK MARKET: The Nigerian Exchange (NGX) market capitalisation fell by about N13 billion midweeK

The Deputy Speaker of the House of Representatives, Rep Benjamin Kalu, said the parliament would enact laws

Energy Transition: Global Leaders Dump Nigeria’s $10bn Investment Target Global leaders have reneged on their promises to invest $10 billion dollars in Nigeria’s energy transition plan targeted to achieve net zero emission, according to Gabriel Aduda, the Permanent Secretary of the Ministry of Petroleum Resources. Aduda expressed concern over the failure of global leaders to invest approximately 10 billion dollars in Nigeria’s net-zero and energy transition plans by 2060 at the ongoing World Petroleum Congress (WPC) on Wednesday in Calgary, Canada, with the topic ‘What Does The Energy Transition Mean for your Country’. According to him, various global leaders at…

The Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku has said that the commission

An ad-hoc committee of the House of Representatives is quizzing the Nigeria Ports Authority (NPA) over the sale of 16 vessels

The Central Bank of Nigeria (CBN) has unveiled a new online platform for the submission of licence applications

Veritas Kapital Assurance has announced Net Premium Income of N2.699 billion for the 2022 financial year, which translate to a marginal one per cent growth compared to N2.675 billion in 2021.

The Assets Management Corporation of Nigeria (AMCON) has advised the Chairman of Arik Air, Johnson Arumemi-Ikide, to present a reasonable debt recovery plan in order to recover the airline.

Nigeria Eurbonds face sell pressures in the secondary market amidst uncertainties, a stronger US dollar