Browsing: Nigeria

The naira ended the week in red against the dominant US dollar in the foreign exchange market as demand and supply continues to test effectiveness of Nigeria’s willing buyer, willing seller FX policy.

The Federal Government said it has offered organised labour N62, 000 which is equivalent to 42 US dollar at N1476 exchange rate as the new national minimum wage for workers in the country.

Airtel Africa said it has repurchased its 17386,055 shares from the London Stock Exchange (LSE) since March 1 when the telecom giant launched a share buyback program in London.

Stanbic IBTC, FCMB Selloffs Drive Midday Loss on NGX

Fidelity Bank Plc says it has concluded plans to raise N127.1 billion by way of rights issue priced at N9.75 to existing shareholders and a public offer at N9.75, which is a combined subscription

The average yield on Nigerian Treasury bills crashed to 21% in the secondary market on Tuesday following an increased position across the curve. The buying momentum was supported by a surge in liquidity levels following inflows from matured OMO bills in the market.

VFD Group to Raise N30bn, Divests interest in Abbey Mortgage VFD Group has revealed a plan to raise N30 billion…

Flour Mills of Nigeria Plc reported more than 99% year on year decline in profitability in 2024, details from its audited financial statement showed. The consumer goods company’s net profit came at N3.45 billion from N29.5 billion in the comparable year in 2023, according to food producer’s audited report for the year.

The foreign currency scarcity problem caused the Central Bank of Nigeria (CBN) to intervene in the forex market five times in response to negative exchange rate movements. Overall, the apex bank injected $33 million to boost FX liquidity in the market.

The Central Bank of Nigeria (CBN) announced on Friday its plan to re-issue N1.56 trillion in treasury bills during the third quarter of 2024, matching the amount set to mature between June and August this year.