The United States’ (US’) Securities and Exchange Commission (SEC) has issued a subpoena to PayPal concerning its stablecoin, PYUSD, as part of a crackdown on crypto. A subpoena is a legal order that requires a person or an entity to appear in the court, testify, or submit certain documentation needed for proceedings A news report […]
….Sends Bill To Appropriation Committee For Action In line with President Bola Tinubu’s plea in a letter on the 2023 Supplementary Budget sent to the Senate on Wednesday, the lawmakers in the Red Chamber swiftly passed the N2.18 trillion supplementary budget for the 2023 fiscal year through . The supplementary budget bill, which was […]
Morgan Stanley Capital International, a provider of benchmark indexes and multi-portfolio analysis tools, has announced the reclassification of MSCI Nigeria indexes from Frontier Markets to Standalone Market Status. The MSCI Nigeria Index is designed to measure the performance of the large and mid-cap segments of the Nigerian market. The latest downgrade by the leading global […]
President Bola Tinubu on Wednesday sought the Senate’s processing of a loan facility of $7,864,508,559 and €100 million earlier requested during the immediate past Muhammadu Buhari-led administration under the 2022 – 2024 external borrowing plan. The President conveyed the request to the Red Chamber of the National Assembly through a letter he addressed to the […]
The Nigeria Deposit Insurance Corporation (NDIC) reported that it had paid a total sum of N120,262,406 billion to depositors, creditors and shareholders of banks in-liquidation as at June 30 this year A senior staff of the corporation, Tanko Ibrahim, made this disclosure in Abuja during the 2023 World’s Savings Day event organised by the NDIC […]
Investment experts at Bancorp Securities Limited, one of Nigeria’s investment research and consulting services firms, have projected that given the current macroeconomic indices in the nation’s economic space, trading in the Nigerian Exchange this week holds prospect for good returns. The researchers, in the firm’s ‘Weekly Stock Recommendation for Oct 30th-3rd Nov 2023’ report specifically […]
The Federal Government is projecting to attract over $ 2 billion in investment into the Nigerian economy and create more than 250 employment opportunities for different professionals through the Presidential Compressed Natural Gas Initiative (P-CNGi). The Chief Executive Officer, P-CNGi, Engr. Micheal Oluwagbemi, disclosed this at the weekend during the official commissioning of CNG conversion […]
The Chief Executive Officer of the Nigerian Exchange Limited (NGX), Mr. Temi Popoola, has described the increasing adoption of technology in the Nigerian and other African countries capital markets’ transactions as a catalytic move aimed at boosting the growth of the capital markets in the continent. Popoola, who made this remark during the West Africa […]
Economists at the Centre for the Study of Economies of Africa (CSEA), a leading Afro-focused economic research consulting firm, have canvassed the need for the fiscal, monetary and economic planning authorities in Nigeria to synergize their policies as a strategic option of achieving a stable exchange rate for the Naira in the foreign exchange (FX) […]
The Naira appreciated against the US dollar at the official market on Wednesday, closing at NGN801.10/$1 at the end of the day’s trading session. The local currency’s appreciation in exchange value at the official market represents a 5.83% increase from the N847.77/$1 it traded at the close of the previous day’s session. According to data […]