Unilever Nigeria records N1.17 billion FX gain in Q1, 2024
Unilever Nigeria Plc has recorded a foreign exchange revaluation gain of N1.17 billion in the first quarter of 2024. This is according to the company’s unaudited financial result for Q1, 2024 published...
View ArticleIn boost for recapitalization, Nigeria’s top banks post N2.44 trillion PAT in...
Four of Nigeria’s top banks, GTCO, UBA, Zenith Bank, and Access Holdings posted a total profit after tax of N2.44 trillion in 2023. This represents a whopping 241.5% increase from the N715.6 billion...
View ArticleBullish turnaround as equity records N71 billion surge, GTCO re-enters SWOOT
The Nigerian Stock Exchange halted its streak of losses, marking an eleventh day with a modest rise of 125.30 points in the All-Share Index, ending at 99,665.05. This represents a slight uptick of...
View ArticleCustoms adjusts FX rate for duties clearance twice in four days
The exchange rate for customs duties clearance has been changed for the second time in less four days. The post Customs adjusts FX rate for duties clearance twice in four days appeared first on...
View ArticleOfficial exchange crashes to one week low, now N1,234.49/$1
The latest drop appear to coincide with the remarks of the apex bank Governor, Yemi Cardoso, who stated that the intent of the bank was not to defend the Naira, when asked about the sudden drop in...
View ArticleGTCO to pay shareholders total dividend of N94 billion for FY 2023
Directors declared and paid an interim dividend of 50 Kobo per ordinary share on the share capital of 29,431,179,224 Ordinary Shares of 50 Kobo each, for the half-year period ended June 30, 2023. The...
View ArticleCBN sells fresh dollars to BDCs at N1,021/$ as naira loses steam
The Central Bank of Nigeria (CBN) has issued another circular to Bureau De Change operators (BDCs), informing them of the direct sales of US dollars to BDCs at a discounted rate of N1,021 per dollar....
View ArticleWhy dollar is battering euro, Japanese yen and Chinese yuan
A force that the global financial markets were not prepared for in 2024 is already affecting them: The dollar is strong again and seems to be here to stay. The post Why dollar is battering euro,...
View ArticleOando releases FY 2022 financial statements, negative equity hits N197 billion
Oando Plc has released its FY 2022 financial statements, posting a loss after tax of N81.2 billon during the year. This marks a significant decline from the N32.9 billion profit after tax recorded in...
View ArticleBears dominate as stock tumble 353.51 points, shedding N200 billion in value
The All-Share Index fell by 353.51 points, ending at 99,311.54 points, indicative of a general pessimistic investor sentiment. The post Bears dominate as stock tumble 353.51 points, shedding N200...
View ArticleMRS Oil Nigeria seeks shareholders’ approval to delist from NGX
The company will also seek shareholders’ approval that the company's Memorandum and Articles of Association (MemArts) will be modified to allow for a share buyback and share capital reduction. The post...
View ArticleOfficial exchange rate falls 17.4% in 5 days, hit month to date low of N1300/$1
The exchange rate has now weakened by 17.5% in a matter of 5 days as concerns mount over the central bank's ability to sustain the gains recorded in recent weeks. The post Official exchange rate falls...
View ArticleFX spot market posts $12.61 billion turnover in March -Report
Exchange rate volatility increased in March 2024 as the Naira traded within an exchange rate range of $/N1,300.43 – $/N1,627.40 compared to $/N1,418.78 – $/N1,665.50 recorded in February The post FX...
View ArticlePhilippines SEC orders Apple and Google to remove Binance from its app stores
The Philippines Security and Exchange Commission (SEC) has ordered Apple and Google to remove Binance app from their respective App stores for users in the Philippines. The post Philippines SEC orders...
View ArticleU.S. DOJ recommends 3 years imprisonment for Binance founder, Changpeng Zhao
The attorneys argued that Zhao should pay $50 million in addition to spending 36 months in prison. The post U.S. DOJ recommends 3 years imprisonment for Binance founder, Changpeng Zhao appeared first...
View ArticleStanbic IBTC to seek shareholders’ approval for N400 billion debt issuance
The company to raise additional equity capital of up to N150 billion via a Rights Issue or offer for subscription, with terms to be determined by the Directors. The post Stanbic IBTC to seek...
View ArticleEFCC freezes 300 accounts over illicit forex trading, says naira would have...
The Economic and Financial Crimes Commission (EFCC) says it has frozen over 300 accounts on suspicion of being linked to illicit forex trading which would have led to the crash of the naira within the...
View ArticleMarket carnage as Bears send stocks diving by 1190.24 points, losses hit N673...
The Nigerian Stock Exchange (NGX) closed on a bearish note as selloffs overtook buying activities. The post Market carnage as Bears send stocks diving by 1190.24 points, losses hit N673 billion...
View ArticleYield hungry investors gobble up over N362.4 billion in treasury bills
The Central Bank of Nigeria (CBN) conducted a successful Treasury Bills (T-Bills) auction on April 24, 2024, where about N362.45 billion was raised across various maturities. This outcome demonstrates...
View ArticleBloody run: NGX Investors suffer N3.62 trillion loss in April
Since the start of April 2024, the NGX has been a bearish run, with the All-Share Index declining by 6.16%, and the market capitalization declining by N3.63 trillion within the same period. The post...
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