The Central Bank of Nigeria (CBN) has adjusted the stop rate on one-year Treasury Bills (T-Bills) to 21.889 percent in its latest auction held on August 7, 2024. This is a minor reduction of 0.211 percent-points, or 0.95 percent from…
By Esther Agbo Agusto & Co. has upgraded the rating of Credit Direct, the consumer finance arm of FCMB Group Plc, to BBB+. This upgrade comes on the heels of the company’s successful completion of its Series I and II…
The Nigerian Federal Government has introduced its Series I Domestic USD Bond, intending to raise a minimum of $500 million from both local and international investors. The government aims to double this amount, seeking $1 billion in total subscriptions through…
By Matthew Denis, Abuja and Seun Ibiyemi The Central Bank of Nigeria (CBN) has auctioned $876.26 million to 26 banks in the country. The move is aimed at reducing the pressure of foreign exchange on the naira. In a statement…
The Central Bank of Nigeria (CBN) says it undertook the sale of foreign exchange (Fx) to end users through a Retail Dutch Auction System (rDAS). According to a statement by Omolara Duke, Director, Financial Markets Department of the apex bank,…
Managing Director and Chief Executive Officer of Aradel Holdings PLC, Gbite Falade has disclosed plans of the company to list on the Nigerian Exchange’s main board before the end of the current quarter in September. The Aradel MD spoke yesterday…
The forex turnover on the FMDQ, where the exchange rate trades officially, closed at a turnover of just $61.9 million, the lowest since January 2024. This is also the second-lowest daily average turnover this year, second only to the $59.6…
The Managing Director of the Assets Management Corporation of Nigeria (AMCON), Mr. Gbenga Alade has appealed for the establishment of an AMCON CAC Desk to strengthen collaboration between the agencies. The AMCON MD made this known when he paid a…
The devaluation of the Naira resulted in a forex gain of N8.6 billion for the Nigeria Identification for Development (ID4D) project, through which international financiers led by the World Bank are pushing for the enrollment of all Nigerians for the…
By Esther Agbo Banking sector deposits have surged to N136 trillion by the end of the first quarter of 2024, reflecting a substantial increase from the previous year’s total of N115 trillion, according to recent data from the Nigerian Exchange…
