Trading on the Nigerian Exchange (NGX) opened positive on Monday as bulls dominated the trading session, thereby growing the All-share Index (ASI) by 0.28% to close at 54,367.74 points. Available data from the market’s supervisory institution showed that at the end of the trading session, market capitalization grew by N84 billion to close at N29.612 […]
The Naira marginally strengthened its exchange rate against the US dollar at the black market in the early hours of Monday, trading at N744/$1 in the early hours of the day, representing a 0.53% appreciation compared to the N748/$1 it exchanged at last Friday. Some black market FX traders attributed the local currency’s exchange rate […]
The Central Bank of Nigeria (CBN) has issued Ceviant, a UK-based financial technology company providing treasury and trade solutions to corporate entities globally, a Payment Solution Service Provision (PSSP) licence to commence operations in the country. The licence permits the company to offer a range of payment services to clients in Nigeria, including electronic fund […]
The Federal Government at the weekend expressed its commitment to continuously improve the diversification of the nation’s economy by growing other sectors, particularly the commodities trading ecosystem. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who gave this assurance during the presentation of Gold coin to her by the Lagos Futures and […]
The Securities and Exchange Commission (SEC) Nigeria has restated its commitment to continuously educate and enlighten investors as part of its sustained efforts to guide them on right investment decisions. The commission’s Head, Office of the Chief Economist of the SEC, Dr. Okey Umeano, who made this promise during an interview, noted that the rising spate of […]
Nigeria and Republic of Niger have signed a bilateral agreement for coordination of frequency utilisation along their borders to ensure seamless deployment of services around within the two countries. The agreement signing ceremony was one of the highlights of the two-day Digital Economy Regional Conference hosted by the Nigerian government and facilitated by the Federal […]
The Nigerian National Petroleum Company Limited (NNPCL) has signed a $741 million maintenance service contract with Daewoo Engineering and Construction Company Limited for a quick fix repair of the moribund Kaduna Refinery and Petrochemical Company (KRPC). A statement by the Nigerian oil company indicated that the signing ceremony was performed on Thursday by the top […]
The Nigerian Exchange (NGX) closed positive for the second consecutive day on Thursday amidst buy-interests and sell-offs by investors as bulls dominated proceedings, driving up the broad market’s index. Available data from the market’s moderating institution showed that at the end of the trading session, the All-share Index (ASI) appreciated by 0.93% to close at […]
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, on Thursday said that the lingering nationwide fuel scarcity was not connected to unavailability of product but to the challenges in the oil industry’s downstream subsector. Kyari, who made this remark during an interview on the Good Morning Nigeria Programme […]
The Naira stabilized in its exchange rate against the US dollar at the black market in the early hours of Thursday, trading at N745/$1, the same rate it exchanged in the previous day’s trading session. Some black market FX traders linked the moderation of the local currency’s rate partly to current policy initiatives by the […]