MARKETS

By ABDUL-KHALIQ OLALEKAN The 58 Insurance firms across the country have promised not to retrench any of their staff members in a bid to cope with the current financial crisis affecting all sectors of the nation's economy of which insurance is one. The operators, who spoke to under the auspices...

Investors on the Nigerian Stock Exchange (NSE) continue to enjoy price appreciation that has been their lot since the commencement of the new forex policy by the Central Bank of Nigeria, even as they gained  N242 billion in Wednesday transactions. From N10.105 trillion on Tuesday, the Market Capitalisation rose to...

The Federal Government has introduced a new debt management strategy expected to be in operation from 2016 to 2019. It is targeted at a marginal increase in external borrowing and increased commitment to capital projects execution. According to a press statement from Debt Management Office (DMO) its Director General, Dr....

It is a good news that the review committee on the revised insurance (consolidated) bill concluded its job and recently submitted the new revised bill to the Finance Ministry, experts as well as insurance operators feel that this is the starting point to overhauling the current Insurance Act 2003, hoping...

From the closing value of N9.881trillion on Monday, market closed at N10.105 trillion on Tuesday; recoding a gain of N224 billion even as the market All-Share Index rose from 28,769.90 basis points with which it opened on Monday to 29,422.71 at the close of trading today. The market transacted a...

By Niyi Olaoye Following the announcement by the Central Bank of Nigeria (CBN) on plans to clear all existing backlog of Foreign Exchange (forex) demand in the country and the recent commencement of trading on the Nigeria Interbank Foreign Exchange (NIFEX), the naira plunged to 280 against the dollar at...

By Niyi Olaoye The Central Bank of Nigeria (CBN) has licensed Suntrust Bank Nigeria limited and ProvidusBank Plc to commence operation in Nigeria as regional banks. With the two new banks, located in Victoria Island, Lagos, the financial service industry now has 21 commercial banking licences, one non-interest banking licence,...

By Niyi Olaoye The Central Bank of Nigeria (CBN) loan to banks rose sharply last weekend by 173 per cent to N281 billion. Investigations reveal that lending to banks through the CBN’s standing Lending Facility (SLF) rose from N102.89 billion the previous week to N281 billion at the close of...

As against the belief that the impressive run the market witnessed for the better part of last week will continue this week, transactions on the Nigerian Stock Exchange (NSE) opened on a negative note today as investors lost N163.952 billion for the Market capitalization to close at N9.881 trillion from...

The Naira tumbled on Monday as the Central Bank of Nigeria (CBN) ended a 16-month-long currency fix that caused investors to flee and sent the economy to the brink of a recession. According to Bloomberg report monitored by Business247, the Naira fell 24 per cent to a record 260.5 versus...