Wednesday’s trading session on the Nigerian Exchange marked the third consecutive day of bearish trends, causing a significant loss of N720 billion to investors. The persistent sell-offs have now accumulated…
Category: Markets
News from Nigeria’s capital, currency, commodities, cryptocurrencies and money markets.
Cryptocurrency: Nigerian Govt Detains 2 Binance Executives Amidst Crackdown
The Nigerian government has reportedly detained two senior executives of Binance, a cryptocurrency exchange, as part of its efforts to regulate the crypto market and curb illicit financial activities. Following…
Naira Appreciates To N1,609/$1 At Official Market Amidst CBN Guidelines
The Nigerian Naira saw a modest appreciation against the US dollar on Wednesday, climbing to N1,609 from N1,615.94 the previous day, marking a 0.37% increase. This uptick follows a series…
Equity Market: Investors Lose N773bn Amidst Monetary Policies
In the ever-shifting landscape of Nigeria’s financial markets, the Nigerian Exchange (NGX) witnessed a downturn in its equity market on Tuesday, with the All-Share Index dipping by 1.39%. This decline,…
CBN Reverses Forex Sale To BDC Operators after 3 Years Amidst Economic Concerns
In a turn of events, the Central Bank of Nigeria (CBN) has decided to resume the sale of foreign exchange to Bureau De Change (BDC) operators, aiming to address the…
Equity Market: Investors Lose N51bn As Nestle, Eterna, Others Dip By 10%
Bearish Trend Persists: Equity Market Loses N51bn The Nigerian Exchange (NGX) faced another bearish week as it witnessed a significant loss of N51 billion. The decline was primarily attributed to…
Naira Gains As CBN Sells $300m To Banks
In a bid to stabilize the fluctuating naira-dollar exchange rate, the Central Bank of Nigeria (CBN) has injected over $300 million into Deposit Money Banks (DMBs) in the past fortnight.…
Forex Crisis Threatens Operations of Nigerian Modular Refineries
Modular refineries in Nigeria are facing a critical challenge due to the ongoing forex crisis, which threatens to halt their operations. These refineries, licensed to refine crude oil, are struggling…
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…