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Nigerian deposit money banks with exposure to foreign loans are expected to settle $1.7 billion Eurobonds that will expire in 2026, according to a non-rating commentary note released by Fitch.
The Central Bank of Nigeria (CBN) has made another foreign exchange market intervention this week to address the ongoing depreciation of the naira.
In the secondary market for Nigerian government bonds, trading activity was mixed as investors evaluated their portfolios against targets.
The naira declined against the US dollar at the official window on Thursday, marking the seventh consecutive session of depreciation in the local currency.
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 dropped further on Wednesday as…
Buying interest in FCMB and Jaiz Bank drove the banking index higher on the Nigerian Exchange despite significant profit-taking.
The Nigerian Exchange (NGX) Ltd. has raised concerns over sharp and unusual price movements in shares of some listed companies in recent trading sessions.
The Nigerian naira falls for the fourth consecutive trading session in the foreign exchange market, as the Central Bank’s large US dollar purchases signal a move to curb a strong local currency.