The US Dollar (USD) experienced a notable decline, marked by the DXY falling to 104.20, amidst a backdrop of evolving market dynamics shaped by Federal Reserve comments and fluctuations in…
Tag: business
Oil Market Needs $14trn In Investment- OPEC’s Secretary General
In a compelling revelation at the India Energy Week in Goa, OPEC’s Secretary General, Haitham al-Ghais, underscored the imperative of investing $14 trillion into the global oil market over the…
NGX: Market Capitalization Dips As BUA Cement, Others Take Tumble
In a downward spiral, the Nigerian Exchange witnessed a setback as losses incurred by key players, including BUA Cement, Sterling Financial Holding Company, Consolidated Hallmark Holdings, UPDC, and The Initiates,…
Naira Depreciates To N1,433 At Official Market As Banks Sell For $584
In a dynamic twist of events, the Nigerian Autonomous Foreign Exchange Market witnessed a surge in foreign exchange transactions, reaching $584 million, marking a significant leap from the preceding daily…
Nigerian Govt Insists On Flight Suspension With Niger Republic
In the aftermath of the military coup in Niger, the Nigerian government maintains its stance on the suspension of flights between Nigeria and Niger Republic. The Nigerian Airspace Management Agency…
Slash Telecom Taxes- NCC Tells States
In a bid to foster growth in Nigeria’s telecommunications sector, the Nigerian Communications Commission (NCC) has made a fervent plea to states and local governments across the nation to slash…
How Foreign Education, Medical Tourism, Others Worsen FX Crisis, Costing Nearly $40bn – Cardoso
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has unveiled the staggering impact of foreign education and medical tourism on Nigeria’s foreign exchange challenges, shedding light on…
NGX: Equity Investors Grapple With N437bn Loss As ASI Dips To 103,649 Points
Equity markets experienced a challenging start to the week as investors grappled with a significant loss of N437bn. The All-Share Index and market capitalization of the Nigerian Exchange faced a…
Naira Rebounds At Official Forex Window To N1,419/$, Despite Lingering Parallel Market Concerns
In a surprising turn, the naira displayed resilience at the official forex window, appreciating by 1.09% to close at 1,419.86/$. Central Bank Governor Olayemi Cardoso’s reassurances on tackling currency volatility…
Foreign Investors Eye Nigeria’s Reforms For Long-Term Gains- Cardoso
Foreign Portfolio Investors (FPIs) are eyeing Nigeria due to an interest in the country’s policy reforms, according to Olayemi Cardoso, the Governor of the Central Bank of Nigeria. In an…