MARKETS

Nigeria's overnight naira interbank lending rate eased to around 16 per cent on Friday, down from about 20 per cent last week on improved naira cash liquidity after the disbursal of July budgetary allocations to government agencies. According to Reuters’ report monitored by Business247 News Online, Nigeria distributes revenues from...

The Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA) Dr. Dakuku Peterside has stated that ensuring a good security in the maritime industry requires careful planning and stringent implementation. The DG stated this during the closing ceremony of a of a five-day training programme tagged “train the...

As against huge gains of N282 billion on Thursday, investors on the Nigerian Stock Exchange recorded a loss of N226 billion on Friday to close the market transactions for the week. All Share Index (ASI) recorded a loss of 2.33 per cent today to close at 27,756.67 basis points while...

The Market Capitalization and the All Share-Index (ASI) of the Nigerian Stock Exchange (NSE) which closed Wednesday trading at N9.479 trillion and 27,599.03 basis points respectively rose significantly on Thursday to close at ₦9.761 trillion and 28,419.92 basis points. The twin market indicators increased by 2.97 per cent, while the...

The Federal Government of Nigeria has raised the sum of N212.85 billion ($654.92 million) in an auction of treasury bills on Wednesday, with yields little changed from previous sales, data from the Debt Management Office showed on Thursday. The debt office raised 45.85 billion naira of three-month paper at 14.38...

MTN is targeting to raise about N330 billion ($1 billion) in an Initial Public Offering (IPO). This is said to be a condition tied to the settlement of a fine imposed on the company by government. According to Bloomberg report monitored by Business247 News Online, minority shareholders may sell down...

The plan by the Nigerian Stock Exchange (NSE) to introduce depository receipts that would allow investors to purchase foreign company shares in naira has been put on hold for now. The Chief Executive Officer (CEO) of the Exchange, Mr Oscar Onyema disclosed to Bloomberg in an interview. According to the...

Despite the sad news today that the Nigerian economy has officially entered recession, the market maintained its bullish run today and it gained N37 billion following the gain of N43 billion yesterday. The Market Capitalization which closed at N9.442 trillion on Tuesday ended the Wednesday trading at N9.479 trillion. The...

Zenith Bank Plc has launched a new mobile banking solution to make banking simpler and interesting. The bank’s *966# Eazybanking solution, which was recently launched into the Nigerian market, will complement the effort of the Central Bank of Nigeria (CBN) to build a cashless economy and enhance financial inclusion. The...

The Securities and Exchange Commission (SEC) has warned investors of two illegal capital market operators not registered under the commission. The apex capital market regulating body stated that an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net) and Mrs. Oge C. Ottiwu of No. 118 Zink Avenue, Opposite...