Browsing: Investors

Contrary to expectations that FX market intervention would help the exchange rate level around N1,000 per US dollar at the official window as predicted by Goldman Sachs, the naira disappointed, according to data from the FMDQ Securities Exchange for the official daily quote shows.

Equities investors wealth rose by over N259 billion to about N56.2 trillion on Thursday in the stock market. The gain drove Nigerian Exchange (NGX) equities market capitalization higher, thanks to bargain hunting in banking and oil and gas stocks.

The National Agency for Science and Engineering Infrastructure (NASENI) says arrangements have been concluded for the inauguration of its Compressed Natural Gas (CNG) Conversion, Filling, Reverse Engineering and Training Centre in Abuja.

The Central Bank of Nigeria (CBN) sold OMO bills at a spot rate of 22.34% for one year securities to investors who bid for 363-day tenor at the primary market auction conducted on Wednesday.

The Ministry of Marine and Blue Economy says it is implementing a 3-pronged strategy that will increase its revenue generation to N2 trillion per annum by 2027. Marine and Blue Economy Minister, Mr Adegboyega Oyetola, disclosed this at the ministerial press briefing on the administration of President Bola Tinubu sectorial update.

The total transactions by foreign investors on the Nigerian Exchange Ltd. (NGX) increased by 28.19 per cent between March and April. The NGX revealed this in its Domestic and Foreign Portfolio Investment Report, made available to the newsmen in Lagos.

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.

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.

The Nigeria Employers’ Consultative Association (NECA), says the private sector remains committed to the N57,000 earlier proposed at the Tripartite Committee meeting on National Minimum Wage.

GTCO’s Market Value Falls 31% Below 52-Week High Selloffs has knocked out about 31% of market value of Guaranty Trust…