Browsing: FGN

The naira, Nigerian local currency, crashed by about 13.3% day on day in the foreign exchange (FX) market on the obvious FX liquidity challenge that has persisted since last month.

Nigeria’s sovereign Eurobonds experienced positive trading activity in the international market, which caused yield to decline by 7 basis points. Foreign investors logged fresh demand for Nigeria’s US dollar, causing the average yield to decline by 0.07% to 9.91%, according to Cowry Asset Management Limited.

In the bond market, there was slight trading activity for FGN Bonds in the secondary space. However, the average yield stayed muted at 18.69%, sustaining negative interest yield on naira asset.

Equities investors gain N294 billion from the stock market on Tuesday due to sustained interest in medium and large companies. As a result, market capitalisation, which began at N55.359 trillion, increased by N294 billion to close at N55.653 trillion.

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.

The average yield on Nigerian Treasury bills declined as traders in the secondary market ramped up naira assets as preferred options to reduce inflation scotch on wealth.

Senate Committee Seeks Regulation on Crypto Trading The Senate Committee on Capital Markets , on Monday, called for the regulation…

The Federal Government of Nigeria (FGN) has signed an Asset Sharing Agreement with the Bailiwick of Jersey for the return of 2.1 million British pounds proceeds of corruption.

The Federal Government says it has reached an advanced stage of raising more than N35 billion …

Foreign investors trimmed their interest in Nigeria Eurobond in the market midweek amidst uncertainties in the global economy. Nigeria is facing turbulent time as key macroeconomic indicators continue to cast doubts on effectiveness of government policy in about a year.