Browsing: Banks

Naira Drops as CBN Slows Down US Dollar ‘Pumping’ The naira depreciated by 0.12% to N1,543.03 per US dollar in…

Interbank Rates Increase despite OMO Repayment, CRR Refund Interbank rates increased sharply due to funding pressures despite inflows from cash…

Nigerian Exchange Declines by N152bn as Investors Hit Red Button The equities market capitalisation of the Nigerian Exchange (NGX) declined…

The Nigerian naira fell against the US dollar in the foreign exchange (FX) market as demand pressure began to take shape. Spot FX data from the FMDQ platform

Bargain hunting in Nigeria’s sovereign Eurobonds market across the short, mid, and long ends of the yield curve

The average yield on Nigerian government bonds surged by 2 basis points to close at 19.78% in the secondary market ahead of fresh supply. Trading activities were subdued last week, with minimal trading activity at the short end (+4 bps) of the curve as markets await further details on Debt Office local borrowings for 2025.

NGX Swells by N155bn as Insurance Stocks Attract Attention The Nigerian Exchange (NGX) opened the New Year with N155 billion…

Investors showed significant buying interest on some financial stocks – banking and insurance names – in the local exchange last week. Demand for financial stocks increase generally ahead of fourth quarter of 2024 earnings release.

Interbank rates soared in the money market on the back of an extended liquidity deficit pattern in the banking sector. The short-term benchmark interest rates settled at double digits high due to a liquidity shortfall in the money market last week.

The Central Bank of Nigeria (CBN) has opened a temporary window that allows Bureau de Change (BDC) operators access to stock up US dollars at an official or Nigerian Foreign Exchange Market rate to meet seasonal demand.