Trading on the Nigerian Exchange (NGX) opened on a bullish note after the bears dominated the market in the closing day last week as investors gained N98 billion at the close of the trading session. Specifically, information from the Nigerian Exchange Group (NGX) on the trading trend in the local bourse indicated that the All-Share […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has projected that the commencement of operations of the Dangote Refinery had the potential of saving Nigeria over $25 billion in foreign exchange (FX) in energy imports and provide $10 billion as exports. Emefiele, who made this forecast on Monday during the commissioning of the […]
Nigeria’s currency – the Naira – further weakened in its exchange rate struggle against the US dollar at the parallel market on Monday, trading at an average of N760/$1 and representing 0.66% decline compared to the N755/$1 it traded at the unofficial FX market last Friday. The Bureau De Change (BDC) dealers in the Federal […]
The International Telecommunication Union (ITU) has set a target of raising $100 billion from the public and private sectors by 2026, for investments in connectivity projects in the world’s least-developed countries. A statement issued by the UN organisation on the projects charged all stakeholders in the global telecommunications space, particularly the Partner2Connect Digital Coalition, on […]
The World Bank Group has approved US$460 million in credits and grants from the International Development Association (IDA) to improve and harmonize data systems in eight countries in Western Africa and three regional organizations. According to the Washington D.C-based development finance institution, the Harmonizing and Improving Statistics in West and Central Africa (HISWACA) Project, Phase […]
The National Pension Commission (PenCom), has recovered about N24.53 billion as pension contributions owed workers by defaulting employers across the country. The Director-General of PenCom, Mrs Aisha Dahir-Umar, made this disclosure on Thursday in Lagos at the 2023 Labour Writers Association of Nigeria (LAWAN) Workshop with the theme ‘Securing the Future: The Benefits of the […]
Nigeria’s Naira suffered a significant depreciation in its exchange rate against the US dollar in the black market today, trading at an average exchange rate of N755/$1 and representing a 0.80% depreciation when compared to the N749/$1 it exchanged at the close of trading on Thursday. Some BDC operators attributed the unimpressive performance of the […]
Investors in Nigeria’s equities market suffered a huge loss on Thursday in a trading session fully dominated by the bears during the buy-in and sell-off struggle, with the local bourse closing negative to break a four-day bullish trend. At the end of the day’s trading session, the All-Share Index (ASI) traded 0.90% lower to close […]
Nigeria’s currency, the Naira, depreciated against the US dollar in its exchange rate at the parallel market on Thursday, settling at an average exchange rate of N749/$1 and representing a 0.13% decrease compared to its previous day’s exchange rate at N748/$1. Some black market FX dealers in the Federal Capital Territory (FCT) attributed the declining […]
The Federal Government has dragged Elixir Asset Management Limited, Elixir Investment Partners Limited along with two of their Directors before the Federal High Court sitting in Ikoyi, Lagos on allegations of fraud to the tune of over N3 billion. In a four count charge brought against the companies and their promoters by the Federal Republic […]