Naira trades at lowest level since February-end amid falling US dollar index
The naira traded at its lowest in the official market despite the U.S. dollar index falling to a three-week low ahead of U.S. jobs data. The post Naira trades at lowest level since February-end amid...
View ArticleCustoms exchange rate for import duties rises to N1441/$, above official rate
The exchange rate for customs duty collection has increased to N1,441.53 to the USD in the past two days from N1,373.64/$ at the beginning of the month. The post Customs exchange rate for import duties...
View ArticleBitcoin and Ethereum resurge as interest rate remains unchanged in US
Bitcoin and Ethereum Resurge as Interest Rate Remains Unchanged in US. The post Bitcoin and Ethereum resurge as interest rate remains unchanged in US appeared first on Nairametrics.
View ArticleMTN Nigeria’s outstanding letters of credit balance reduces to $243.4 million
MTN Nigeria has said that it utilized the improved liquidity in the FX market to reduce the balance of outstanding letters of credit (LC) obligations to $243.4 million as of 31st March 2024, from...
View ArticleNaira weakens further to N1,410/$1 in parallel trading amid aggravated demand
The Nigerian Naira weakened further to N1,410/$ in the unofficial market on Friday afternoon as traders saw an aggravated demand for the dollar by parents and travelers. The post Naira weakens further...
View ArticleOPay warns customers against crypto trading as CBN tightens noose on fintechs
One of Nigeria’s leading fintech companies, OPay, has warned its customers against trading in cryptocurrency or any virtual currency on its app. The post OPay warns customers against crypto trading as...
View ArticleCrypto exchanges to have important meeting with Nigerian SEC Chief over...
BICCON is putting together a roundtable with International and local crypto exchanges and the new director general of the Nigerian Securities and Exchange Commission (SEC) to find a middle ground on...
View ArticleFBNH Plc gains N238.7 billion to top weekly gainers
FBN Holdings Plc, one of the old generation banks listed on the Nigerian Exchange Group Plc (NGX), reported a significant gain of approximately N238.703 billion by the close of weekly trading,...
View ArticleUBA retained earnings crosses N1 trillion as group posts N156.3 billion...
UBA has released its unaudited financial statements for Q1 2024, with the group posting a pre-tax profit of N156.3 billion, marking a 155% year-on-year increase from the N61.4 billion posted in Q1...
View ArticleBREAKING: GTCO records largest ever first quarter profit in Nigerian Banking...
Guaranty Trust Holding Company (GTCO), one of Nigeria’s most efficiently run bank, has just announced the largest ever pre-tax profits in Nigerian banking history. The post BREAKING: GTCO records...
View Article30% of Nigeria’s external reserves are FX bank swaps – Fitch
The global credit ratings agency, Fitch, has estimated that approximately 30% of Nigeria’s external reserves are constituted by foreign exchange (FX) bank swaps. This disclosure underscores ongoing...
View ArticleBitcoin breaks above 63K gain as crypto market turns green
The crypto market turned green as Bitcoin rebounded strongly on Saturday morning sparking hopes that the worst of the meltdown might be over The post Bitcoin breaks above 63K gain as crypto market...
View ArticleNigerians left in shock as CBN, FG clamp down on crypto market
A growing number of Nigerian residents are raising concerns following clampdown on crypto assets via the financial industry. The post Nigerians left in shock as CBN, FG clamp down on crypto market...
View ArticleGlobal concrete, cement market to hit $469.01 billion in 2027 – Report
The concrete and cement market is experiencing robust growth driven by the construction boom, especially in urban centers. The post Global concrete, cement market to hit $469.01 billion in 2027 –...
View ArticleZenith Bank reports a pre-tax profit of N320.194 billion in Q1 2024
Zenith Bank Plc, one of Nigeria's leading banks, released its unaudited financial results for Q1 2024, revealing a pre-tax profit of N320.194 billion. The post Zenith Bank reports a pre-tax profit of...
View ArticleEquity reconstruction: Transcorp proposes 1 for 4 share ratio to shareholders
The reconstruction will result in the cancellation of three out of every four shares held by Transcorp's shareholders and a reduction of the issued share capital to N5,080,998,787.00, comprising...
View ArticleUBA’s first quarter profits rise by 154% on the back of higher interest income
UBA released its unaudited financial results for Q1 2024 showing pre-tax profit grew by 154.74% year-on-year to 156.344 billion. The post UBA’s first quarter profits rise by 154% on the back of higher...
View ArticlePresident Tinubu must keep his campaign promise on Nigerian Crypto Industry
Nigerian young resident population now feels more mistrust and bewilderment because of the FG's recent attack against Nigeria's crypto industry The post President Tinubu must keep his campaign promise...
View ArticleUS Authorities has clamped down on 7 crypto entities in the space of two years
US Authorities Has Clamped Down On 7 Crypto Entities in the Space of Two Years over compliance and crime related activities. The post US Authorities has clamped down on 7 crypto entities in the space...
View ArticleLack of crypto regulation spurs growth of P2P in Nigeria—SIBAN
SIBAN said if the government had regulated the industry, many Nigerians would have been trading through regulated exchanges and not through P2P. The post Lack of crypto regulation spurs growth of P2P...
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