Browsing: CBN

With rights issue in the pipeline, Moruf Oseni Wema Bank Managing Director/Chief Executive Officer said the Nigerian lender’s capital base stands at N55 billion. Oseni said this at the 2023 annual meeting with shareholders, adding that Wema Bank is set to raise N200 billion in capital within the 24-month timeline issued by the Central Bank of Nigeria (CBN).

The naira rate appreciated strongly on Tuesday, gained 12.35% day-on-day to N1,173.88 per United States (US) dollar in the Nigerian autonomous foreign exchange market.

Fixed interest securities investors trimmed interest in Nigerian government bonds in their portfolios to align with their investment appetite amidst fast changing market dynamics and a widening real return on naira assets.

Equities investors gained about N142 billion on Monday in the local exchange as stocks rally. Data from the Nigerian Exchange showed that key performance indicators improved following fresh bargain hunting on fat or high valuation stocks.

The Central Bank of Nigeria (CBN) hiked spot rate on its one year open market operations bills (OMO) by 99 basis points to 22.49%, details from latest primary market auction results showed..

The naira lost weight across the foreign currency markets as volume of US dollar demand continued to eclipse market supply in the absence of, or rather too week

A raft of selloffs on Nigerian big banks, Zenith and GTCO dragged the equities market capitalisation of the Nigerian Exchange downward by N90 billion midweek following interest rate hike.

The average yield on Nigerian Treasury bills declined slightly to approximately 21% as fixed interest securities investors ramped up naira assets in the

Funding rates edged up in the money market as most Nigerian deposit money banks continued their quest for liquidity to meet their funding obligations, Cowry

The Central Bank of Nigeria (CBN) has increased the benchmark interest rate by 150 basis points to consolidate its