BDCs now buying dollars at N980/$, naira appreciating faster than expected –...
The Association of Bureau De Change Operators of Nigeria (ABCON) said that as of Tuesday, the Bureau De Change (BDC) operators were buying dollars at N980/$ at the open market and selling at N1,020/$....
View ArticleWhy naira appreciation has not led to reduction in prices of goods – Expert
Experts at the ongoing Global Trade Review West Africa have explained why the recent strengthening of the naira in the FX market has not affected prices of goods and services across the country. The...
View ArticlePFAs channel 72% of investment to fixed income assets in 2023
Pension Fund Administrators (PFAs) in Nigeria favoured fixed income investments over other asset classes in 2023 with a preponderance of funds channelled towards investments in the said category. The...
View ArticleUK Lawmakers call for govt to develop crypto and blockchain skills ecosystem
UK parliament urges UK government to develop an ecosystem for building Crypto,Blockchain and Ai skills The post UK Lawmakers call for govt to develop crypto and blockchain skills ecosystem appeared...
View ArticleAnalysts cheer CBN’s ban on foreign currency collateral for Naira loans
CBN's ban on foreign currency collateral garners analyst support for economic stability and FX liquidity boost The post Analysts cheer CBN’s ban on foreign currency collateral for Naira loans appeared...
View ArticleNigeria can raise FX remittances through transactional cost reduction – Experts
Amidst the World Bank/IMF Spring Meetings in Washington D.C., the CBN organized a roundtable discussion aimed at bolstering remittance inflows through formal channels into Nigeria. The post Nigeria can...
View ArticleNigeria to earn $3 billion from cocoa as prices stay higher than $10,100 per ton
Cocoa futures recovered above the $10,150 mark on the Intercontinental Exchange (ICE) in New York as it consolidated below this week's record highs while Nigeria plans to boost its production. The post...
View ArticleBinance shifts billion-dollar emergency fund to USDC
Binance, the world's largest crypto exchange, has undergone a shift by converting its entire pool of assets held in the Secure Asset Fund for Users (SAFU) into USDC, the stablecoin issued by US firm...
View ArticleBinance set to re-enter India after ban by paying $2 million fine
Binance set to Re enter Indian market as a Financial intelligence Unit registered company by paying $2 million fine. The post Binance set to re-enter India after ban by paying $2 million fine appeared...
View ArticleEcobank successfully repays $500 million Eurobond due April 18
The Eurobond, which was issued in April 2019 was listed on the London Stock Exchange with a coupon rate of 9.5%. The bond garnered support from diverse group of global investors, including development...
View ArticleMarket sentiment dims as equity suffers N35 billion loss
The Nigerian Stock Market marked its tenth day of decline this April, primarily due to the downturn in the significant financial firms of the SWOOT sector. The post Market sentiment dims as equity...
View ArticleTranscorp Hotels divests 100% interest in Calabar subsidiary to Eco Travels...
Transcorp Hotels strategic focus is on Abuja and the significant continuing investment in the iconic Transcorp Hilton Hotel and in development opportunities in Lagos. The post Transcorp Hotels divests...
View ArticleFidelity Bank posts N99.45 billion PAT in FY2023, to pay N19.2 billion final...
Fidelity Bank Plc posted a net income of N99.45 billion in FY 2023, according to the bank’s audited financial statements for 2023. This marks a 113% growth from the N46.72 billion PAT posted in 2022....
View ArticleInternational Breweries obtains approval for $379.9 million shareholder loan
Shareholders accepted and approved the $379.9 million convertible loan from AB InBev Nigeria Holdings BV for repaying a loan from Citibank Abu Dhabi The post International Breweries obtains approval...
View ArticleNaira stays stronger at black market amid a mixed bag of U.S economic data
The Nigerian naira held its value against the US dollar in the black market, but it slightly declined in the official market amid a mixed bag of U.S. economic data. The post Naira stays stronger at...
View ArticleTranscorp Power reports N28.772 billion pre-tax profit in Q1 2024
Transcorp Power Plc has reported a pre-tax profit of N28.772 billion for the Q1 ended March 31, 2024. The post Transcorp Power reports N28.772 billion pre-tax profit in Q1 2024 appeared first on...
View ArticleCustoms reduces exchange rate for import duties payment by N91.1
The Nigeria Customs Service (NCS) has reduced the exchange rate for import duties collection from N1238.1 to the dollar to N1,147/$. This represents a decline of N91.1 since the last reduction on April...
View ArticleIsrael-Iran conflict triggers Bitcoin to temporary dip below $60,000
Bitcoin experienced a temporary dip below $60,000 on Friday morning after news broke that Israel had launched retaliatory missile strikes against Iran in response to the former aggression exhibited by...
View ArticleZimbabwe’s illegal forex traders resume operation after launch of new currency
Zimbabwe’s illegal money changers are back on the streets after a brief hiatus following the launch of a new gold-backed currency in the country. The newly launched gold-backed currency is known as the...
View ArticleInvestors react as NGX banking stocks plunge by 26.7% since recapitalization...
Recall that on March 28, 2024, the CBN revised the minimum capital requirements for banks. And since then, the market capitalization of banking stocks in the NGX has declined by 26.7%. Between March 28...
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