Foreign exchange
28 Nov
The immediate past President, the Association of Issuing Houses Nigeria (AIHN), Ike Chioke, said the ongoing foreign exchange (FX) reform instituted by the Central Bank of Nigeria (CBN) has presented both challenges and opportunities for investment bankers,
25 Oct
FMDQ Securities market has posted a total turnover of ₦23.3 trillion in its secondary market segment for the month of September 2023. The figure represents a Month on Month (MoM) increase of 31.60 per cent N(5.59trillion) and Year on Year (YoY) of 17.16 per cent (₦3.41trillion) from August 2023 and September 2022 figures, respectively.
2 Oct
FMDQ Securities Exchange's total turnover in the Foreign Exchange (FX) Spot and Derivatives markets stood at $472.49 million last week. The figure represents a fall of 26.52 per cent ($170.57 million) from $643.06 million reported the previous week....
13 Sep
Nigeria’s FTSE downgrade from frontier market to unclassified will cause a colossal damage to the capital market and erode investor confidence, unless urgent steps are taken to reverse the trend, experts have said.
6 Sep
Further expansion of telecommunications services would be hindered significantly by the inability of the players to secure foreign exchange to upgrade current infrastructure and deploy new ones
6 Sep
·CBN to clear backlogs in two weeks, plans clampdown on illegal operators The volume of foreign exchange (FX) currently sitting in local commercial banks is three times what is available in the vault of the Central Bank of Nigeria (CBN), the Acting Governor of the monetary authority, Adebisi Shonubi, has revealed. The volume has placed…
5 Sep
Just 100 days since President Bola Tinubu took up the reins, he may have pulled millions of poor Nigerians below where his predecessor, Muhammadu Buhari, left them on May 29 on the poverty line.
21 Aug
Financial experts said the recent $3 billion emergency crude repayment loan from the African Export-Import Bank (AFREXIM) may not achieve a meaningful result in easing the pressure in the foreign exchange (FX) market unless appropriate measures are adopted.
17 Aug
About 48 hours after President Bola Tinubu and Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, held a crucial meeting on the state of the foreign exchange (FX) market, there is a breather for naira as it recorded a moderate gain trading at about N880/$ at the black market yesterday. Dollar spiked…
14 Aug
Foreign Exchange (FX) Spot and Derivatives markets recorded a turnover of $390.60 million, representing a decrease of 14.18 per cent ($64.52 million) for the week ended August 11, from $455.12 million achieved in the previous week.
9 Aug
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26 Jun
Cost of importing vehicles, including mass transit units, and other imported commodities could increase by as much as 20 per cent in the coming weeks, a direct consequence of last week’s 40 per cent increase in the foreign exchange (FX) rate for clearing operations.
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President Bola Ahmed Tinubu, on Thursday, in Abuja expressed optimism about the prospects of increased investments from Shell Petroleum Development Company of Nigeria (SPDC), emphasising Nigeria’s long-term relationship with the company..
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The Transmission Company of Nigeria (TCN), Benin region on Saturday embarked on facilities expansion and upgrade at work centers in Edo, Delta, Ondo and Ekiti states aimed at expanding the grid for increased capacity and improved quantity of power transmission to the distribution companies in the areas. The TCN General Manager in the region, Engr.…
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