Investors trading on the Nigerian Exchange Limited (NGX) witnessed a significant loss in their investments over three days as profit-taking persisted in fundamental stocks. The overall market capitalization closed at…
Category: Markets
News from Nigeria’s capital, currency, commodities, cryptocurrencies and money markets.
Relief As CBN Clears $7bn Forex Backlog Amid Boosting Economic Stabilization
The Central Bank of Nigeria (CBN) has announced the clearance of all forex backlogs, a significant stride towards economic stabilization. This achievement fulfills a commitment made by CBN Governor, Mr…
Naira Gains Ground, Hits N1,400/$1 In Parallel Market
In a remarkable turn, parallel market operators are now offering a buy price of N1400/$1 for those willing to sell dollars, signaling a notable strengthening of the Naira. This shift…
NGX Sees Second Consecutive Day of Negative Trading As Investors Lose N62bn
For the second day in a row, the Nigerian Equities Market witnessed a downturn in trading activities, resulting in investors facing losses worth N62.21 billion, according to data from the…
FX: Naira Depreciates By N1,610/$1 In Parallel Market As Inflation Persists
The Nigerian naira faced a decline in the foreign exchange (FX) market on Monday, hitting N1,610 against the dollar in the parallel market. This marks a 0.63 percent decrease from…
NGX: Market Capitalization Loses N239bn As ASI Decline By 0.4%
The NGX commenced the week on a bearish note, witnessing a decline of 0.4% in the All-Share Index. This downturn led to a loss of 421.91 points, closing at 104,663.34…
NGX: MTNN, GTCO, JBERGER, Others Top List Of Potential Stocks This Week
Investors are gearing up for another round of trading as the Nigerian Exchange (NGX) prepares to open its doors for the week ahead. With the market already showing signs of…
U.S. Chamber Urges Biden To Secure Release Of Binance Officials Detained In Nigeria
The United States Chamber of Digital Commerce has issued a plea to President Biden, urging him to utilize all available diplomatic avenues to secure the release of two Binance officials…
Investors Regain Confidence as NGX Gains N390bn
Following a rollercoaster ride in recent trading sessions, the NGX market capitalization witnessed a surge, soaring by N390 billion to reach N54.71 trillion by the session’s close. The notable upswing…
$26bn Crypto Fraud Allegations: Nigerian Govt Investigates Binance
The Nigerian government has launched an investigation into the operations of Binance, a cryptocurrency exchange company, following allegations of $26bn Crypto Fraud Allegations This move comes after the Nigerian Communications…