The Securities and Exchange Commission (SEC) Nigeria has identified investment in and deployment of financial technology (fintech) as crucial in attracting youth participation in the nation’s fast growing capital market and deepening its base. The commission’s Director-General, Mr. Lamido Yuguda, explained that this was why the commission had been encouraging operators to develop the right […]
The Naira sluggishly opened the week on Monday in sustained efforts to strengthen its exchange rate against the US dollar, trading at an average of N751/$1 compared to the N750/$1 it traded last Friday, representing 0.13% depreciation during the trading session. Some FX traders in the Federal Capital Territory (FCT) partly linked the slight depreciation […]
Jaiz Bank Plc, Nigeria’s leading non-interest bank, has appointed Abdulkarim Alhassan as the Executive Director to oversee the Northern Operations of its Business Development. In his new position, Alhassan is expected to facilitate the Bank’s strategic planning and implementation, with a view to driving business growth and profitability in the Northern region. Before his latest […]
The Naira sustained its losing streak at the black market for the third consecutive day on Thursday, depreciating by 0.40% to trade at N755/$1 from the N752/$1 it traded on Wednesday. Some FX dealers linked lower exchange rate of the local currency to current lull in economic activities as buyers’ traffic to the parallel market […]
The Nigerian Communications Commission (NCC) has promised telecommunications service consumers in the country of its commitment, as a consumer-centric industry regulator, improved services from mobile network operators (MNOs) and other service providers on a sustainable basis. The commission’s Executive Commissioner (Stakeholder Management), Barr. Adeleke Adewolu, gave this assurance in his opening remarks at the World […]
The Japanese Government has announced plans to boost cooperation with Nigeria and other Sub-Saharan African (SSA) countries by investing about $30 billion in Nigeria and others between now and year 2025. The Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi, made this disclosure at an event organized by the Japanese Embassy to commemorate the 63rd birthday […]
Nigeria’s equities market trading closed negative on Wednesday as bears sustained their hold on the local bourse for the third consecutive session, thereby diminishing the broad market’s performance Consequently, the market’s All-share Index (ASI) depreciated by 0.41% to close at 55,490.2 points while the market capitalization declined by N127 billion to close at N30.228 trillion […]
The African Finance Corporation (AFC) and the African Export Import Bank (Afreximbank) are investing about $16 billion in oil and gas projects across Africa as part of their collaborative efforts to transform the industry into a sustainable growth source for the continent. The Global Head, Client Relations of Afreximbank, Rene Awembeng, who gave this hint […]
Indications that the lingering cash crunch didn’t really affect the general price level in Nigeria emerged on Tuesday as the National Bureau of Statistics (NBS) reported that the nation’s headline inflation rate still surged to 21.91% in February compared to the 21.82% rate reported in January 2023. The Bureau, in its ‘Consumer Price Index February […]
Bears sustained their grip on the Nigerian Exchange (NGX) again on Tuesday, thereby impacting negatively on the broad market’s performance As a result of the bearish trend of the local bourse, the market’s All-share Index (ASI) depreciated by 0.12% to close at 55,722.9 points while the market capitalization dipped by N36 billion to close at […]