Trading activities on the floor of the Nigerian Exchange (NGX) on Friday ended with investors gaining N281 billion as bulls regained grip on the local bourse. Available data on the day’s trading indicated that the All Share Index (ASI) increased by 1.06% to close at 48,881.93 points while market capitalization appreciated by N281 billion. By […]
Tag: banking
Naira Appreciates, Trades N745/$1 At Black Market
The Naira exchanged to the US dollar at an average of N745/$1 on Friday at the black market, appreciating by 0.67 percent from N750/$1 it traded on Thursday. The local currency’ N750/$1 exchange rate on Thursday was the lowest value it traded since the beginning of the month. Interestingly, the local currency strengthened by 0.13% against […]
Naira Redesign: We Have Received Over N1Trn Deposit So Far – Emefiele
…..Says Banks Have Taken Delivery Of New Notes The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said that over N1 trillion had been deposited in the banks by bank customers since the introduction of the new Naira notes redesign measure by the apex bank. Emefiele, who made this disclosure […]
Reps Ask CBN To Suspend New Cash Withdrawal Limit Policy
The House of Representatives has asked the Central Bank of Nigeria (CBN) to immediately put on hold the planned implementation of its new policy on revised cash withdrawal limits for individuals and corporate organizations pending the conclusion of its ongoing appraisal of the policy measure. The lawmakers in the lower chamber of the National Assembly, […]
Naira Sustains Sliding Trend, Trades N750/$1 At Parallel Market
The Naira exchanged to the US dollar at an average of N750/$1 on Thursday at the black market, depreciating by 1.63% from N738/$1 recorded during Wednesday’s trading session The N750/$1 exchange rate was the lowest level recorded by the local currency since the beginning of the month. Also, the Naira recorded a 0.0.93% depreciation against […]
Bears Regain Hold On Equities Market, As Investors Lose N33Bn
Bears overpowered the bulls in the struggle for Nigeria’s equities market’s control on Thursday, causing investors a loss of N32 billion at the close of the trading session. The bulls had on Wednesday dominated the market and secured a gain of N32 billion for the investors following impressive performance of a few blue chip stocks. […]
CBN, NAICOM, Others Support NDIC Act Amendment Bill
Public and private sector stakeholders in the financial services sector have expressed their support for the passage of the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 Amendment Bill currently before the National Assembly. The lead institutions in the sector said that the proposed amendment of the Act would enhance the corporation’s capacity in its sustained […]
Airtel Emerges Sole Bidder For 3.5GHz Spectrum Band
The Nigerian Communications Commission (NCC) has announced that Airtel Networks Limited emerged as the sole bidder for the 3.5GHz Spectrum band auction, having met all the pre-auction bid requirements by it. In a statement issued on the process, the commission disclosed that by the close of business on Monday, only two companies expressed interest in […]
FG Deploys N120Bn Crime Proceeds To Infrastructure Projects – Mohammed
The Federal Government on Wednesday disclosed that over N120 billion had been realized as proceeds from criminal financial operations since the Proceeds of Crime Recovery Management Act was enacted and that the recovered funds had been committed to critical infrastructure projects. The Minister of Information and Culture, Mr. Lai Mohammed, who made this disclosure during […]
ADF Mobilizes $8.9Bn For Africa’s Low-Income Countries
The African Development Fund (ADF), the concessional window of the African Development Bank Group (AfDB) providing grants and soft loans, has approved $8.9 billion to its 2023 to 2025 financing cycle to support low-income countries in the continent. The $8.9 billion package, which is the largest replenishment in the history of the Fund, was approved […]