MARKETS

The nation’s currency, Naira slipped 2.5 per cent to a new closing low of 310 per dollar on Monday, failing to lure in local investors or foreign players as trade dried up a day before an expected interest rate hike from the central bank. Reuters report monitored by Business247 News...

The Central Bank of Nigeria (CBN) has settled $697m one-month outright currency forwards it sold in June at an exchange rate of 280 naira per dollar, one trader said on Friday. According to Reuters’ report, the $697 million, part of $4 billion auctioned after the naira was floated last month...

The end seems not to have come for spate of losses being experienced by investors on the Nigerian Stock Exchange (NSE) as the market began the week on the losing streak where it end last week as the All-Share Index and Market Capitalization which closed the week at 28,805.45 basis...

The President, Association of Bureaux De Change Operators of Nigeria (ABCON),Alhaji Aminu Gwadabe, has  said that new directive of the Central Bank of Nigeria (CBN) on foreign exchange (FX) will stem exchange pressure currently witnessed in the country. He also said the directive will help determine a realistic exchange rate...

The Central Bank of Nigeria (CBN) has instructed authorized dealers that include Access Bank Plc, Zenith Bank Plc, and other authorized deals in the country to commence sales of foreign exchange to Bureau De Change (BDCs). CBN in a circular signed by Acting Director, Trade & Exchange, Mr. W. D...

A turnover of 1.350 billion shares worth N9.287 billion in 18,679 deals were traded this week by investors on the floor of the Exchange Nigerian Stock Exchange (NSE) in contrast to a total of 1.149 billion shares valued at N13.616 billion that exchanged hands last week in 21,868 deals. The...

As the nation’s capital market closed on Friay, four financial institutions out of 15 listed on The Nigerian Stock Exchange (NSE) are top performing shares in 30-week of 2016. These four financial institutions include United Bank for Africa Plc (UBA), Guaranty Trust Bank Plc (GTBank), Zenith Bank Plc and Access...

The outgoing Group Managing Director/Chief Executive, United Bank of Nigeria (UBA), Plc Mr Philips Oduoza, has said that volatility and instability in governance in some African countries have exposed most major banks in Africa to political risk. Oduoza, while given a lecture on the” Emergence of a Nigerian Pan-African Bank”...

ABDUL-KHALIQ OLALEKAN In spite of the turbulent operating environment in the country, Sovereign Trust Insurance Plc (STI), Plc was able to generate N7.13 billion gross premium from the insurance businesses it undertook in 2015 financial year. The underwriting firm also recorded a 97 per cent growth in its Profit After...

The best way to describe how the market went on the Nigerian Stock Exchange (NSE) this week is to just say it was ‘very bloody’ as throughout the week, the market continued looking south wards as investors recorded a loss of N394 billion and All-Share Index dropped by 3.98 per...