Author: Marketforces Africa

Naira Depreciates by 4% as Forex Demand Increases The Nigerian naira exchange rates worsened across the currency markets on Monday amidst lingering FX challenges in the economy.  At the official window, the naira depreciated by more than 4% as demand pressures shifted the exchange rate curve. Last week, the naira regained strength across the foreign exchange market as a result of a slowdown in forex pressures, supported by large inflows into the Investors and Exporters window in September. US dollar scarcity in the economy became well pronounced due to poor FX policy choice under the erstwhile governor of the Central…

The Nigerian Exchange (NGX) recorded more than N355 billion daily gain on Monday as investors queued for BUA Cement shares

The Central Bank of Nigeria (CBN), has assured Nigerians that its digital currency, eNaira posed no threat to financial stability.

Oil prices increased strongly on Monday over fresh supply concerns triggered by the conflict between Palestine and Israel.

FPIs Sell MTNN, Buy Airtel to Aid Fund Repatriation Amidst Nigeria’s foreign currency (forex) crisis, foreign portfolio investors (FPIs) pitched their tents with Airtel Africa amidst a reduction in transactions while selloffs hit MTN Nigeria Plc shares.   MTN Nigeria was faced with selloffs that plunged its market price down to N250 on Friday, according to data from the Nigerian Exchange (NGX). Generally, the local bourse has given up gains as investors’ sentiment started to wane. Last week, Airtel Africa Plc gained 8.53% due to an increase in buying momentum in the telecom company shares. Foreign interests were active, buying…

There was a strong increase in foreign currency inflows into the Investors and Exporters FX window

Amidst disagreement over its Nigerian Agip Oil Company acquisition, the share price of Oando Plc

MTN Nigeria Plc’s (Ticker: MTNN) share price plunged more than 5% to N250 due to profit-taking activities …

Nigerian banks’ balance-sheet structures have helped to ensure continued compliance with minimum capital requirements

The Central Bank of Nigeria (CBN) debited Deposit money banks (DMBs) a whooping sum of about N718 billion