Capital Market Archives -

New Forex rules underway – Oyedele

November 1, 2023LENIACLeave a Comment

The Chair of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, says the Federal Government is planning to introduce new foreign exchange rules — including a crackdown on illegal currency trading by the end of 2023. According to him, it is hoped that the move will result in the naira closing its […]

FG rallies capital market to bridge Nigeria’s $3tr infrastructure gap

October 26, 2023October 26, 2023LENIACLeave a Comment

PHOTO: SEC Nigeria • As indices dip by N7b amid losses in 19 stocks The Vice President, Kashim Shettima has called for active involvement of capital market stakeholders in bridging Nigeria’s $3 trillion infrastructure deficit. Besides, he also urged various exchanges to develop a focused strategy and create digital technology products that would attract youths […]

Capitalisation dips by N140b amid losses in Stanbic IBTC, Nestle, others

October 21, 2023LENIACLeave a Comment

Nigerian Exchange Limited (NGX) Negative sentiments resurfaced on the equities sector of the Nigerian Exchange Limited (NGX) yesterday as market capitalisation depreciated by N140 billion amid losses in Stanbic IBTC, Nestle and 23 stocks. Specifically, at the close of transactions yesterday, market capitalisation of listed equities declined by 0.4 per cent to N36.864 trillion from […]

Commercial banks borrow N4.4tr from CBN in 3 months

September 5, 2022LENIACLeave a Comment

34 per cent of commercial loans held by public sector Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the CBN’s Standard Lending Facility (SLF) to borrow funds, […]

Nigeria risks financial ‘blockade’, frosty relations with funders

June 29, 2022LENIACLeave a Comment

World Bank calls for sovereign debt changes ahead of looming recession Cold attitude to reforms harming domestic investment outlook, experts say ‘Challenge western countries but with better policy options’ Nigeria’s Eurobond rises by about 100% in six months Nigeria is gradually inching towards a financial ‘blockade’ at the international financial market, as its working relationship […]

Dollar hits N615, local raw materials sourcing declines to 52%

June 29, 2022LENIACLeave a Comment

The pressure on the foreign exchange market continued on Tuesday, with the dollar exchanging at N615 at the parallel market in Lagos and Abuja. This is even as the percentage of local raw materials sourced by Nigerian manufacturers declined to 52.4 per cent in 2021, from 57.5 per cent obtained in 2020, according to data […]

Investors lose N146bn on NGX

September 10, 2021September 10, 2021LENIACLeave a Comment

Investors net worth on the Nigerian Exchange Ltd dropped further by N146 billion on Friday due to losses posted by some major blue chips. Specifically, the market capitalisation lost N146 billion or 0.71 per cent to close at N20.278 trillion, from N20.424 trillion reported on Thursday. Also, the NGX All-Share Index dipped 279.55 points or […]

Investors risk losing 2020 dividends

October 29, 2020October 29, 2020LENIACLeave a Comment

as operators grapple with COVID-19 fallouts Unilever, Cadbury, Meyer, others suffer loss amid weak spending Stop trend to avert job loss, social unrest, experts tell FG Capital market operators have expressed worry that the prolonged coronavirus pandemic and attendant Foreign Exchange (Forex) illiquidity may cause investors to lose their dividends this year. The pandemic and […]

Banks recorded ₦1.5tr non-performing loans in 2018

July 3, 2019July 3, 2019LENIACLeave a Comment

Analyst links incidence to macroeconomic headwinds Following the adoption of IFRS 9, about 10.9 per cent of the loan book in the banking industry, representing ₦1.5trillion are in Stage 3 (impaired), as at December 2018, according to the recently released banking industry report by Agusto & Co. The figure represents 15 per cent increase in […]

Naira exchanges at N359.4 to dollar at parallel market

May 27, 2019May 27, 2019LENIACLeave a Comment

The naira on Monday traded at N359.04 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N465 and N404, respectively. At the investors window, the naira closed at N360.59 to the dollar , as market turnover stood at 217.08 million dollars. Trading at the Bureau De Change […]