Nigeria News

NAIRA

NAIRA CONTINUES FREE FALL AGAINST THE DOLLAR

The naira/US dollar exchange rate fell by 0.69% on Thursday morning, September 29, 2022, to trade at N730/$1 in the parallel market, down from N725/$1 on Wednesday.According to information obtained from black market traders, this is the case.Similarly, the official Investors and Exporters window recorded a 0.01% depreciation to close at N436.37/$1 on Wednesday, September 28th 2022, from N436.33/$1 the previous session.Meanwhile, on Wednesday, September 28th, 2022, a total of $119.49 million was traded on the official market, a 20.17%  increased from $99.43 million traded on Tuesday.

Nigeria’s DMO posts N1.31 billion profit, records 144.1% increase

The Debt Management Office of Nigeria (DMO) reported a surplus of N1.31 billion for the 2019 financial year. This represents a 144.1% increase in profit compared to N538.4 million recorded in the previous year. This is according to its recently published financial statement, released on its website. The agency recorded growth in profit despite a 5.5% …

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NGX Announces Opportunities In Green Bonds And Sukuk

NGX is driving the development and promotion of individual participation in the Nigerian capital market.   The Nigerian Exchange Group is doing this through its Retail Investor Workshop. On Tuesday, 31 August 2021, the NGX in partnership with APT Securities and Funds Limited hosted a webinar series on the topic “Sukuk and Green Bonds: More …

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IMF LOAN MAY STRENGTHEN NIGERIA’S EXCHANGE BY YEAR’S END

Nigeria is set to receive an IMF facility of $3.85 billion an amount which is part of a general allocation of Special Drawing Rights (SDRs) of the international multilateral Institution. In 2020, Nigeria was a beneficiary of an IMFs Rapid Financing Instruments (RFI). The loan was approved by the International Monetary Funds (IMF) Board of …

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AMCON TAKES OVER NICON

The Asset Management Company of Nigeria, AMCON, has effectively taken over the National Insurance Corporation of Nigeria, NICON Insurance. NICON Insurance was privatized in 2005 with the core investor having 70 percent shares, and the Federal Government retaining 30 percent. The major investor was alleged to use the assets of the company as collateral for …

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