MARKETS

The Central Bank of Nigeria (CBN) has said it has approved the release of the Nigerian Foreign Exchange (FX) Code. The apex bank also announced that the Code would be formally launched next week in Abuja. According to CBN in a statement, the Code serves as a guideline to the...

The value Naira, Nigerian’s currency fell further against the United States dollar on the first day in office for President Donald Trump The value of Nigerian currency depreciated further against the US dollar in the foreign exchange markets on Tuesday. Data from FMDQ securities showed that at the close of...

Nigeria's usage of digital payments has significantly increased, as seen by the cumulative N566.39 trillion in electronic transfers that occurred between January and July 2024. The biggest monthly total, N89.5 trillion, was reported in July, representing an 89 per cent year-over-year increase. As more Nigerians use digital platforms for their...

The Central Bank of Nigeria (CBN) says it has sanctioned some Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. According to a statement by Hakama Sidi-Ali, CBN’s Director, Corporate Communications Department, this is a clear message of zero...

  Temi Popoola, Group CEO of Nigerian Exchange Group Plc (NGX Group), reiterated the transformative potential of Africa’s capital markets at the launch of the Ethiopian Securities Exchange (ESX). Speaking at the event, Popoola emphasized the need for stronger regional collaboration, government-private sector synergy, and innovative market solutions to unlock...

The Central Bank of Nigeria (CBN) has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January 8, 2025, applies to both oil and non-oil export transactions. The apex bank explained that the move aims to enforce...

The Chairman, Access Holding Company Plc, Mr Aigboje Aig-Imuokhuede, CFR, has commended the digital innovation efforts of the Nigerian Exchange Group following the successful N351bn Rights Issue completed to comply with the regulatory directive of the Central Bank of Nigeria (CBN). According to the statement from Access HoldCo, Aig-Imuokhuede said...

Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional ₦75 billion in its capital raise. This approval represents the final leg of the capital injection that was achieved through a private placement in September 2024. Building on...

In an era where the demands on leaders are growing increasingly complex, Temi Popoola, the Group Managing Director and Chief Executive Officer of the Nigerian Exchange Group (NGX Group) , called for a renewed focus on authenticity and people-centric leadership as a way to navigate the multifaceted challenges of a...

The Chairman of the Nigerian Exchange Group Plc, Alhaji (Dr) Umaru Kwairanga, has said the number of investors in the Nigerian capital market was unacceptable given the population of the country. Kwairanga said this at the 2024 annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos....