MARKETS

The Nigerian equities market closed on a positive note today, following a 0.26 per cent increase in lead market indicators. This is in contrast to 1.80 per cent lost after Thursday’s trading session. With 15 gainers to 15 losers, The Nigerian Stock Exchange All Share Index (NSE ASI) added 70.96...

The NASD OTC has called for a combination of the appropriate fiscal and monetary policies to stimulate growth in key sectors of the economy. According to the organisation, several attempts have been made and economic policies have been introduced by the current administration to resuscitate the Nigerian economy from her...

The Central Bank of Nigeria (CBN) has warned that any bank engaging in receiving illegal money transfer into the country should desist from it. In a circular signed by the Acting Director, Trade & Exchange Department, CBN, W.D. Gotring, and dated August 25, 2016, CBN said that Deposit Money Banks...

Federal Government plans to offer 212.85 billion naira ($675 million) in Treasury bills maturing between 91-days and 1-year on Aug. 31, the Central Bank of Nigeria said on Friday. The apex bank, according to Reuters report monitored by Business247 News Online, said it will sell 45.85 billion naira worth of...

United Bank for Africa Plc (UBA) announced its audited 2016 half-year financial results for the period ended 30 June 2016, showing that the bank recorded a significant growth in total assets, rising 20 per cent to N3.3 trillion from N2.75 trillion as at December 31, 2015. Following the performance, the...

Naira was quoted at an all-time low of 409 to the dollar on the black market on Thursday, compared with 402 the previous day, after the suspension of some banks from forex trading made dollars even harder to obtain. This is according to Reuters’ report monitored by Business247 News Online....

The Nigerian equities market closed on a negative note today, following a 1.80 per cent decline in lead market indicators bringing the Year-to-Date return to -4.41 per cent even as investors on the Exchange made a loss of N172 billion. This is in contrast to 0.25 per cent gained on...

  Sterling Bank reacts The Central Bank of Nigeria (CBN) has readmitted the United Bank for Africa (UBA) to the forex market after its suspension following breach in TSA dealing. The apex bank gave the directive in a press statement this night signed by its Director, Banking Supervision Mr. ‘Tokunbo...

…Naira hits N400/$ Perhaps as a fall out of the ban from foreign exchange market by the Central Bank of Nigeria (CBN), the share price of most of the affected lenders received some bashing on the Nigerian Stock Exchange (NSE) yesterday. Diamond Bank Plc, First City Monument Bank Plc, Sterling...

The Central Bank of Nigeria (CBN) has said that non-performing loans (NPLs) in the banking sector rose by 78 per cent year-on-year to N649.63 billion at the end of May this year. The Governor of CBN, Godwin Emefiele revealed this while speaking on Wednesday in Lagos at the third National...