Interbank Rates Increase as Banks Play at CBN Lending Facility
Naira Depreciates to N1,660, Markets Anticipate FX Auction: The Nigerian naira plunged further to around N1,660 per US dollar due to sustained shortage of foreign currency in the market. While external reserves continue to rise, Read more
Nigerian Exchange Sheds Weight as Equities Investors Lose N148bn: Equities investors lost more than N148 billion as selloffs hit Aradel, Nestle Nigeria, and others in the stock market. Transaction details from the Nigerian domestic market …Read more
Interbank Rates Increase as Banks Play at CBN Lending Facility: Interbank rates increased as the liquidity balance in the financial system remained tight in the money market, investment firms said in separate reports. Read more
Bond Yield Spikes to 19.22% as Inflation Fuels Selloffs: Investors reduced interest in Nigerian government bonds has nudged the average yield higher by 12 basis points to 19.22% in the secondary market after selloffs seen across standard maturities…Read more
Nigerian Treasury Bills Yield Rises Further over Selloffs: The average yield on Nigerian Treasury bills yield rose further in the secondary market as selloffs persisted across standard maturities traded…Read more
Japan Supports African Development Fund with $421m Concessional Loan: The Japan International Cooperation Agency (JICA) has supported the African Development Fund (ADF) with a landmark 51.67 billion Japanese yen (421 million dollars) Concessional Donor Loan (CDL)…Read more
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Oil Trades below $74 over Demand, Supply Uncertainties: Oil prices stabilised on Wednesday in the global commodities market after falling significantly over the past few sessions as some buying activity returned to the market at lower prices…Read more
Frontier Markets Posted Mixed Growth in Q2 –Fitch: Frontier markets (FM) recovered further in 2Q24 with some recording their highest rates of gross domestic products (GDP) growth in several quarters, boosted by gains in exports…Read more
Submit 2025 Appropriation Bill Without Further Delay, Reps tell FG: The House of Representatives has urged the Federal Government to submit to the National Assembly the 2025 Appropriation Bill without further delay…Read more
Reps Call for Immediate Reversal of Petrol, Cooking Gas Price Hike: The House of Representatives has called for immediate reversal of the increase in the pump price of petroleum products and gas, according to a motion moved at the chamber…Read more
Nigeria-India Business Council to Boost Relations as Bilateral Trades Fall: The Nigeria-India Business Council (NIBC) says it is committed to boosting trade relations between the two countries…Read more