The Central Bank of Nigeria (CBN) has disbursed N9.714 trillion in financial interventions to different sectors of the economy in the last three years. Director, Development Finance Department (DFD) of the CBN, Mr. Yusuf Yila who made the disclosure, said…
Nigerian Exchange Limited (‘NGX’) has announced the reclassification of Fidelity Bank Plc from Small price stock to Medium price stock. Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules) notes that equities priced above N5 per share…
By Philemon Adedeji The Nigerian Equity market opened the week on a green posture as investors continued to hold a favorable outlook, driven by the recent H1 earnings announcement. This led to a notable upward movement in NGXASI, which recorded…
Assets under the Contributory Pension Scheme rose by about N2 trillion in the first half of 2023, according to the National Pension Commission. Figures obtained from PenCom’s unaudited report on pension funds industry portfolio for the period ended 30 June…
…FAAC records revenue growth By Sodiq Adelakun In the recent communique from the Federation Account Allocation Committee, the unification of the country’s exchange rate has significantly increased the revenue from exchange difference. According to the communique, Exchange Difference revenue was…
Fidelity Bank said it will seek the approval of its shareholders to raise additional capital via issuance of 13,200 billion ordinary shares. This was disclosed in the notice of Extraordinary General Meeting signed by the Company Secretary, Ezinwa Unuigboje and…
…As experts call for moderation in policy decisions By Sodiq Adelakun The Central Bank of Nigeria (CBN) is set to hold its first Monetary Policy Committee (MPC) July meeting under the administration of President Bola Ahmed Tinubu on Monday and…
By Sodiq Adelakun The exchange rate between the naira and dollar plunged to N888/$1 on Binance a crypto platform. This depreciation comes despite a temporary convergence achieved through the Central Bank of Nigeria’s (CBN) recent actions. Currency restrictions have previously…
The International Monetary Fund has said a 10 per cent appreciation in the dollar, linked to global financial market forces, decreased economic output in emerging market economies including Nigeria by 1.9 per cent. It noted that this decline persisted for…
By Sodiq Adelakun Nigeria’s currency on Wednesday fell to all-time low of N860 per dollar at the parallel segment of the foreign exchange (FX) market, also called the black market. The naira depreciation followed strong demand for dollars by individuals…
