ASSETS & FINANCIALS

The naira depreciated at both the official and parallel markets on Monday. At the official, Nigerian Autonomous Foreign Exchange Market, the naira dropped to 1,523.85 per dollar, depreciation from the previous close of 1,509.67 to the American greenback. NAFEM is …

The Nigerian Exchange resumed the week on Monday with a loss of N8.62 billion due to a dip in Caverton Offshore, Associated Bus Company, Nigeria Breweries, and 38 other stocks. The All-Share Index declined and market capitalisation by 0.02 per …

NGX Regulation, the regulatory arm of the NGX Group, has suspended trading in the shares of eight companies for default in filing their relevant accounts for 2023. In a market bulletin on Monday, the Head of the Issuer Regulation Department, …

The majority of small businesses in the informal sector, accounting for 42.7 per cent of small business owners, have been operational for less than five years, a new report has stated. The sector which contributes to over half of Nigeria’s …

  The Governor of the Central Bank of Nigeria,  Dr Olayemi Cardoso, has stated that it will soon be able to slow down increases in the benchmark interest rate. Cardoso said that on Saturday in Lagos at the launch of …

Demand deposits have jumped by 206.83 per cent from N9.67tn in May 2019 to N29.67tn this year’s May, according to data from the Central Bank of Nigeria’s website. The data showed that the country’s demand deposits grew by 9.31 per …

  The Securities and Exchange Commission has approved the appointment of Jude Chiemeka as the Chief Executive Officer of the Nigerian Exchange Limited, effective July 1. In a statement issued on Thursday, the NGX Group said Chiemeka brings close to …

  The Federal Government has presented the outcomes of its review of the accelerated stabilisation and advancement plan, which seeks to inject N2tn into the economy in the next six months. President Bola Tinubu on Thursday said his administration is …

  Financial experts have said that the latest directive from the Central Bank of Nigeria asking banks to deposit their excess foreign exchange with it is aimed at boosting the country’s reserves. The pundits stated that in exclusive chats with …

  As the nation awaits the new minimum wage promised to be sent to the National Assembly by President Bola Tinubu, the burden of implementing the minimum wage may make many states bankrupt. The Federal Executive Council, at its meeting last Tuesday, …

Analysts and economic watchers have expressed concerns about Nigeria’s rising debts and the cost of servicing them. The Debt Management Office in June revealed that Nigeria’s total public debt had reached N121.67tn, increasing by N24.33tn or 24.99 per cent within …

The total transactions on the local bourse have hit N2.35tn at the end of May, indicating a 115.40 per cent increase compared to the first five months of 2023. This was disclosed in the domestic and foreign portfolio participation in …

  The Federal Government through the Central Bank of Nigeria has raised a total sum of N284.26bn in the latest Nigerian Treasury Bills auction. This was as its T-Bills debts soared to N10.4tn between December 2023 and March 2024, marking …

• Stake now 11.63% Mr Femi Otedola, billionaire businessman and chairman of First Bank Nigeria (FBN) Holdings Plc, yesterday, acquired additional 797,946,415 units of the company’s shares through the Nigerian Exchange Limited, NGX, to sustain his majority stake in the company. …

Forex turnover at the official foreign exchange market has increased to $23.29bn within over six months of trading following a flurry of reforms by the Central Bank of Nigeria, findings by media source have shown. This was as the naira …

The high prices of food items in the market amid its availability do not speak well of the over N1.25tn federal budget approved for the Federal Ministry of Agriculture and Food Security in three years to manage the sector, farmers …

Besides controlling Nigeria’s persistent inflation, members of the Monetary Policy Committee of the Central Bank of Nigeria also have improvement of liquidity in the foreign exchange market on their radar. This was indicated by the personal statements of the members …

  About 8,651 Retirement Saving Account holders withdrew N14.20bn in the first quarter of 2024 due to temporary job loss. This was disclosed in the first quarter report 2024 published by the National Pension Commission recently. In the report, PenCom …

More expenses await African nationals seeking visas to enter the European Union as the EU plans to increase visa fees starting Tuesday, according to Schengen visa statistics released on Saturday. The report stated that starting from Tuesday; African nationals would …

The naira appreciated to 1,339.33/$ at the close of trading on the official window on Monday, gaining 9.68 per cent over Friday’s 1,482.81/$. According to FMDQ data, which houses the Nigerian Autonomous Foreign Exchange Market, the daily turnover dropped to …