BREAKING: Nigeria’s exchange rate records best gain in two weeks, closes at...
The naira surged to N1,570/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, marking an increase of 2.47% from the previous day’s rate of N1,608.73/$1. The post...
View ArticleAnalysis: Veritas Glanvills Pensions 2023 audited company and pension fund...
Veritas Glanvills Pensions published its 2023 audited accounts. This is a summary review, and it presents key financial highlights, financial ratios, fund performance, and the trend in the number of...
View ArticleUS Bitcoin ETF records $50 million inflow while Ethereum ETFs log $26.7...
Spot Bitcoin ETFs in the United States recorded a net inflow of $50 million after trading on Thursday making it one of the smallest days of trading activity on the Bitcoin ETF products. The post US...
View ArticleNigerian hunger protest: Bank sector index unaffected as other sectors close...
The Nigerian banking sector was unaffected by losses induced by hunger protests, which rocked some parts of the country on the trading day that commenced on August 1, 2023. The post Nigerian hunger...
View ArticleBest performing stocks in the NGX in July 2024
In July, the NGX posted a 2.28% decline as the All-Share Index moved from 100,057.49 at the start of the month to end the month at 97,774.22. The post Best performing stocks in the NGX in July 2024...
View ArticleCrypto Exchange Coinbase Posts $1.45 Billion in Q2 Revenue, records Decline...
Crypto Exchange Coinbase has reported in its second quarter report to investors that it pulled in $1.45 billion in revenue for the quarter while recording a decline in profits. The post Crypto...
View ArticleBybit set to stop offering Crypto Services and Products in France
Bybit one of the top three crypto exchanges in the industry in terms of market share and volume of trade is set to quit the French market after facing regulatory hurdles in the European country. The...
View ArticleNigerian University Pension Management Company 2023 audited company and...
The Nigerian University Pension Management Company, known for short as Nupemco published its 2023 summary audited accounts, providing an abridged, but insightful overview of the company’s financial...
View ArticleDangote stocks shed N1.2 trillion in market cap in July
Companies under the Dangote Group lost about N1.21 trillion of their market capitalization in July 2024, as they all experienced double-digit share price decline during the month. The post Dangote...
View ArticleNGX close week with N219 billion gain amid worst global stock market crash...
Amid a global stock market crash that saw global stock markets lose over $2 trillion in market capitalization, the Nigerian Exchange (NGX) posted its first bullish trading day since July 22, 2024....
View ArticleNigeria’s exchange rate depreciates by 6.43% in July despite CBN’s FX sales
Nigeria’s exchange rate closed July 2024 at N1608.73/$1, marking a 6.43% depreciation on the official market for the month. The post Nigeria’s exchange rate depreciates by 6.43% in July despite CBN’s...
View ArticleCentral Bank to reintroduce auctions (rDas) to address forex shortage
The Central Bank of Nigeria (CBN) has unveiled plans to implement a Retail Dutch Auction System (DAS) to address the mounting unmet foreign exchange (FX) demand from end users. The post Central Bank...
View ArticleWarren Buffett’s Berkshire Hathaway cash pile of $276.9 Billion exceeds...
The cash pile of Berkshire Hathaway, founded by renowned billionaire investor Warren Buffett, soared to an astonishing $276.9 billion following a surprise sale of nearly half the company's stake in...
View ArticleDangote Sugar posts N104.6 billion pre-tax loss in second quarter of 2024,...
Dangote Sugar posted a pre-tax loss of N104.6 billion in the second quarter of 2024, marking a 110% year-on-year decline from the N49.9 billion pre-tax loss posted in Q2 2023. The post Dangote Sugar...
View ArticleSpot Bitcoin ETFs record $237 million in outflows, the biggest in 90 days
The 12-spot Bitcoin Exchange Traded Funds (ETFs) in the United States recorded an outflow of $237 million on August 2. The post Spot Bitcoin ETFs record $237 million in outflows, the biggest in 90 days...
View ArticleExchange rate for customs duties collection rises to N1,618/$
The exchange rate for the Nigeria Customs Service (NCS) duties collection has risen to N1618.73/$ according to the latest figure from the service’s exchange rate portal. The post Exchange rate for...
View ArticleBitcoin falls to $60,000 as total crypto market capitalization loses $70...
The Flagship crypto asset Bitcoin has dropped to $60,661 following a general market downturn that left most assets in the Red. The post Bitcoin falls to $60,000 as total crypto market capitalization...
View ArticleWazirX abandons plan to share $230 million loss among every user
India’s largest crypto exchange WazirX has abandoned its proposed plan to share the loss of $230 million in funds following a severe hack attack amongst all users. The post WazirX abandons plan to...
View ArticleFood gulps 17% of Nigeria’s dollar spending on imports in Q1 2024
The import of food products gulped about $689.88 million in the first quarter of 2024, which is about 17% of the total foreign exchange (FX) spending on imports. The post Food gulps 17% of Nigeria’s...
View ArticleGlobal market sell-offs threaten Nigerian Bank recapitalization plans
The global stock market rout is likely to affect the bank recapitalization efforts of Nigerian banks, according to findings from Nairametrics Research. The post Global market sell-offs threaten...
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