Naira falls to 1520.4/$1 in official market, depreciates by 11% in 7 days
The exchange rate between the Naira and dollar on the official NAFEM window fell to N1,520.4/$1 on Tuesday, May 14, 2024. The post Naira falls to 1520.4/$1 in official market, depreciates by 11% in 7...
View ArticleForex Crisis: SEC, EFCC target virtual manipulators in new collaboration
The two agencies are to strengthen the existing Memorandum of Understanding they have and ensure it is more effective in dealing with current issues. The post Forex Crisis: SEC, EFCC target virtual...
View ArticleBDC blames insufficient forex allocation for Naira depreciation
Amidst severe liquidity shortages and erratic forex supply, a senior ABCON official explained why the naira has been depreciating in recent days. The post BDC blames insufficient forex allocation for...
View ArticleFX rate for Customs duty collections crosses N1500/$, highest in seven weeks
The exchange rate for customs duty collections has risen to N1502.1/$, the highest in seven weeks going back to March 22nd when the figure stood at N1572/$. The post FX rate for Customs duty...
View ArticleNaira loses key support despite U.S dollar index at monthly low
The Naira continued its decline across the country's unofficial FX market, depreciating to a new low of 1,540 per dollar on the parallel market despite a falling U.S. dollar index. The post Naira loses...
View ArticleShareholders of Berger Paints Nigeria approve N232 million dividend
Shareholders of Berger Paints Nigeria Plc have endorsed the recommendation of the Board of Directors for a dividend of N232 million for the financial year 2023, up from N203 million paid in 2022. The...
View ArticleKucoin halts naira P2P trading on its platform citing compliance
Kucoin Halts Naira P2P Trading on Its Platform Citing Compliance and an upgrade of its services in the Nigerian crypto market. The post Kucoin halts naira P2P trading on its platform citing compliance...
View ArticleDiaspora remittances fall 6.28% to $282.61 million in Q1 2024 amid CBN’s reforms
Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024. The post Diaspora remittances fall 6.28% to $282.61 million in Q1 2024 amid CBN’s...
View ArticlePZ Cusson sheds N70.5 billion in market value in one week
Since May 7, 2024, PZ Cussons Nigeria Plc has incurred a market value loss of approximately N70.5 billion. This downturn persisted today, with the company witnessing a further 10% decline in its share...
View ArticleNaira breaks key resistance amid improved dollar supply, weak inflation readings
The naira clawed back some of its losses against the dollar amid prospects for rate cuts in the world's largest economy improved, and U.S. core inflation and weaker-than-expected inflation readings in...
View ArticleUPDC REIT to pay N1.105 billion final dividend for 2023
UPDC Real Estate Investment Trust (UPDC REIT) has declared a final dividend of N0.22 per unit of share for the period ending December 31, 2023. The post UPDC REIT to pay N1.105 billion final dividend...
View ArticleTop insurance firms’ claims payment jumps 18% to N142 billion in 2023
Leading insurance companies in Nigeria paid N141.761 billion in claims in the financial year of 2023, compared to N120.563 billion in 2022, representing a growth of 17.58%. The post Top insurance...
View ArticleFidelity Bank shareholders approve N19.2 billion final dividend for 2023
Fidelity Bank Plc have endorsed the recommendation of board of directors for a final dividend of N19.2 billion for the financial year 2023. The post Fidelity Bank shareholders approve N19.2 billion...
View ArticleOfficial exchange rate depreciates to N1,533.99, worst in May
The exchange rate between the naira and dollar in the official NAFEM Window depreciated to N1,533.99/$1 on Thursday May 14, 2024. The post Official exchange rate depreciates to N1,533.99, worst in May...
View ArticleAirtel Africa gains N665 billion in one day as NGX reverses bearish trend
On Thursday, 1.009 million shares of Airtel Africa were traded, leading to the group's market value rising by N665 billion to N8.08 trillion. The post Airtel Africa gains N665 billion in one day as NGX...
View ArticleShareholders of Seplat Energy approve 15 cents per share dividend
Seplat Energy Plc’s shareholders have approved the payment of US 15 cents per share recommended by the company’s board of directors. The post Shareholders of Seplat Energy approve 15 cents per share...
View ArticleMorgan Stanley reveals $269 million investment in cryptocurrency
Morgan Stanley revealed its $269 million investment in spot Bitcoin ETFs, joining the league of big US banks investing heavily in cryptocurrency. The post Morgan Stanley reveals $269 million investment...
View ArticleExchange rate for customs duty jumps to N1530/$ as naira depreciates
The exchange rate for import duties collection by the Nigerian Customs Service (NCS) has increased by N38 from N1492/$ to N1530 to the USD according to the latest update on the Customs exchange rate...
View ArticleMRS Oil sets N135 per share as exit consideration for delisting
The board of MRS Oil Nigeria Plc has said that as part of exit consideration from the Nigerian Exchange Limited (NGX), it will pay dissenting shareholders N135.00 per ordinary share of 50 kobo each....
View ArticleNotcoin surges ahead, breaks into top 10 cryptos by trading volume
Notcoin (NOT), a crypto asset, has hit a significant milestone, breaking into the list of top 10 cryptocurrencies in daily trading volume after its listing on several centralized agencies on May 16....
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