Investors Lose N67bn As Nigerian Exchange Dips: Market Sentiment Turns Sour

Thursday saw equity investors witnessing a setback as the Nigerian Exchange resumed its descent, resulting in a loss of N67 billion. The All-Share Index slipped by 0.12 percent, closing at…

Cryptocurrency Laundering Declines by 29%-Chainalysis

According to a recent report from Chainalysis, the laundering of money through cryptocurrency exchanges saw a significant drop of 29% in 2023. This revelation, disclosed on Thursday, highlighted a decrease…

Investors Gain N165bn As ASI Appreciates By 0.30%

After enduring a two-day downturn, the Nigerian equity market bounced back into positive territory on Tuesday, infusing investors with renewed optimism. The market saw an influx of N165 billion, marking…

NNPCL Destroys 82 Illegal Refineries In Niger Delta In 1 Week

In a relentless crackdown on oil theft and vandalism, the Nigerian National Petroleum Company Limited (NNPCL) disclosed the obliteration of 82 illegal refineries in the Niger Delta region between February…

Naira Drops To N1,900/$1 At Official Markets As Market Volatility Sparks Concerns

The Nigerian naira experienced a marginal uptick against the United States dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday, closing at N1,542.58/$, according to data from the…

Nigeria Govt Plans To Raise $10bn To Boost Foreign Exchange As Naira Trades Above N1,850

In a bid to stabilize its fluctuating currency, Nigeria’s Federal Government unveils plans to raise $10 billion to bolster liquidity in the foreign exchange market. President Bola Tinubu, represented by…

Nigerian Equity Market Suffers Second Consecutive Day Of Losses As ASI Drops By 1.30%

The Nigerian equity market witnessed another day of decline, shedding N730 billion on Tuesday, marking the second consecutive day of losses this week. Investors expressed caution amidst the bearish trend,…

Nigerian Red Cross Issues Alert On Worsening Hunger Crisis With Over 26.5 Million In Acute Need

The Nigerian Red Cross Society (NRCS) has raised a red flag on the worsening hunger crisis in the country, calling for immediate action to assist those most in need. Dr.…

Naira Traded For Over N2,000/1£ Amid Persistent Forex Demand

In a reflection of Nigeria’s economic challenges, the local currency, the naira, has breached the 2,000-naira mark against the British pound, signaling further strain on the country’s forex market. This…

86 Government Agencies, Including Aso Villa, Military Headquarters, CBN Face Power Disconnection Over N47bn Debt

In a startling development, the Abuja Electricity Distribution Company (AEDC) has issued a stern warning to 86 government ministries, agencies, and departments (MDAs) over unpaid electricity bills totaling N47 billion.…