Month: February 2024

Nigerian Bourse Rebounds with N902bn Daily Gain Bulls stage comeback into the Nigerian Exchange (NGX), gaining N902 billion after two days bloodbath that plunged return downward. The equity market on…

Tinubu Orders Attorney-General to Clear $1.3bn Oil Block Cases President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi to clear court cases on 1.3 billion dollars Deepwater…

Ivory Coast’s Eurobond Issuance Raises Hope for Easing Africa’s Funding Squeeze For almost two years, the Sub-Saharan African economies have not received financing from international bond markets. Last week, there…

Nigerian T-Bills Yield Rises by 22bps to 9% The average yield on Nigerian Treasury bills climbed by 22 basis points to close at 9.2% as risk-off sentiment persisted in the…

FBN Holdings Announces Otedola as Board Chairman FBN Holdings Plc on Wednesday appointed Mr Olufemi Otedola as its new Chairman of the Board of Directors. The Holdings announced this in…

Oil Prices Fall as Uncertainties Cloud Demand Outlook The oil market retreated as uncertainties clouded the demand outlook. The US Federal Reserve kept rates unchanged amidst an expectation of a…

FG Commends Dangote Cement for Vital Roles in Economic Diversification The Federal Government (FG) has commended the leading roles being played by the Dangote Group to complement the government’s efforts…

Nigerian Private Sector Health Improves in January– PMI The recovery in the Nigerian private sector gathered momentum at the start of 2024, with rates of expansion in output and new…

Naira Pops as FMDQ Revises FX Pricing Policy The naira appreciated by 1.9% to N1,455.59 against the dominant foreign currency, the US dollar at the Nigerian Autonomous Foreign Exchange Market…

Banks Face Risks over 24hrs FX Positions Sell Down Non-compliance risk looms large in the financial services sector as the timeline given to deposit money banks to sell down their…