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- Naira Touches N1,395 to US Dollar as FX Order Book Surges
- Nigeria’s Gas Reserves Rise 3% to 215.29 Trillion Cubic Feet
Global Economy
The Federal Government of Nigeria has ruled out restoring the fuel subsidy and multiple exchange rates
The U.S. dollar weakened against other major currencies amid geopolitical concerns and trade uncertainties, fuelling negative sentiment.
Slow but steady, the Nigerian local currency, the naira, continues its downward trajectory for the sixth consecutive day, largely driven by FX liquidity shortfall in the official window.
NGX Drops as Investors Dump Shares in Big Banks The Nigerian Exchange (NGX) All-Share Index…
Buying interest in FCMB and Jaiz Bank drove the banking index higher on the Nigerian Exchange despite significant profit-taking.
For the fifth trading session, the naira declined against the US dollar amid tightening liquidity, driven by the Apex Bank’s efforts to prevent the local currency from gaining momentum.
The Nigerian Exchange (NGX) Ltd. has raised concerns over sharp and unusual price movements in shares of some listed companies in recent trading sessions.