Category: Capital Market

The naira on Monday traded at N359.04 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N465 and N404, respectively. At the investors window, the naira closed at N360.59 to the dollar , as market turnover stood at 217.08 million dollars. Trading at the Bureau De Change […]

The Central Bank of Nigeria (CBN) has injected 210 million dollars into the various segments of the market to sustain its intervention in the Inter-Bank Foreign Exchange Market. Mr Isaac Okorafor, CBN Director, Corporate Communications, made this known in a statement on Tuesday in Abuja. Okorafor said that the apex bank offered 100 million dollars […]

The financial services sector yesterday reacted negatively to the uncertainty in the nation’s political environment as investors priced in the risks of election postponement on the stock market and exchange rate. The development came just as analysts polled by The Guardian at the weekend predicted that investors and financial transactions would plummet as a first […]

Renewed bargain-hunting on some blue-chip companies, especially Unilever and Dangote cement, aided transactions on the Nigerian Stock Exchange (NSE), causing market capitalisation to increase by N14 billion. Specifically, at the close of trading yesterday, the All Share Index (ASI) was up by 39.76 absolute points, representing an increase of 0.12 per cent to close at […]

As the Federal Government steps up plans to offer more of its assets for sale under the ongoing privatisation programme, stakeholders in Nigeria’s capital have renewed the call to ensure that the exercise is done through the capital market. The stakeholders argued that the exercise would witness high level of transparency and success, if government […]

A former Vice-President (Africa) of World Bank, Mrs Oby Ezekwesili, has advised the Federal Government to suspend its plan to raise 2.8 billion dollars in Eurobond to fund the 2018 budget. Ezekwesili, who was a former Minister of Education, gave the advice while speaking to newsmen in Lagos. NAN reports that she was reacting to […]

THE Federal Government has promised to persecute all those found to be responsible for the failure of the erstwhile Skye Bank. Minister of Finance, Zainab Ahmed who disclosed this on Friday directed Managing Director of Nigeria Deposit Insurance Corporation (NDIC) Alhaji Umaru Ibrahim to ensure a thorough investigation into how the bank was run aground. […]

The ongoing volatility in the nation’s stock market, occasioned by continued selloffs and assessed political risks, has spurred an unprecedented lull in the market, as investors count losses worth N756 billion in September. The figure is derived from the N12.718 trillion market capitalisation and 34,837.50 points recorded in the All-Share Index, at the opening of […]

• N800bn interbank net inflow expected The Central Bank of Nigeria, CBN, said it will issue fresh treasury bills, TBs, worth N1.02 trillion in the fourth quarter of this year to replace maturing TBs of the same amount during the quarter. The apex bank disclosed this in its TB issuance programme for the fourth quarter […]

The nation’s equities market depreciated by N190 billion at the close of trading on Wednesday after 26 stocks recorded price declines. A total of 200.278 million stocks valued at N2.162bn exchanged hands in 3,224 deals. The N35 billion gain recorded in the equities market on Tuesday was lost as the benchmark index continued on a […]