The Nigerian local currency, the naira, experienced a slight gain against the US dollar in the official FX market on Tuesday as Nigeria recorded additional foreign currency inflows into external reserves.
Pension Fund Administrators (PFAs) parked 63% of pension assets in federal governPension Fund Administrators (PFAs) parked 63% of pension assets in federal government debt securities as assets under management climbed to N20.2 trillion in May.ment debt securities as assets under management climbed to N20.2 trillion in May.
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Investors sold off part of their bond holdings in the secondary market on Wednesday ahead of inflation data for the month of June, 2024.
With relatively healthy buying interest, GTCO, Access Holdings and UBA Plc were among other Nigerian banking names driving momentum on the Nigerian Exchange (NGX) during early trading hours on Wednesday.
The average yield on Nigerian Treasury bills (NTB) climbed by 68 basis points as deposit money banks, and other authorised dealers in the fixed income market reduced their holdings amidst spot rates adjustment expectations.
Selloffs in MTN Nigeria, FBN Holdings and some other stocks dragged the Nigerian Exchange market capitalisation down
Investors reacted negatively, trimmed their Nigerian treasury bills (NTB) holdings in the secondary market following successive spot rates cut at the Central Bank of Nigeria’s (CBN) primary market auction last week.
Equities investors gained about N53 billion on Friday as the Nigerian Exchange, NGX, recorded 32 risers, 17 decliners. Consequently, the All-Share Index rose by 0.09% to close at 99,925.88 points, with the year-to-date return of the index climbing to 33.64%.
The US dollar rose against its major trading partners early Friday, except for a decline versus the euro