Markets
News from Nigeria's capital, currency, commodities, cryptocurrencies and money markets.
Bitcoin is scarce as entities, individuals hold for long term
Although retail traders are responsible for 96% of transactions, professionals move the bulk of the volume.
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Japaul Oil & Maritime Services plans to invest in gold mining
The company's name will be changed from Japaul Oil & Maritime Services to Japaul Gold and Ventures Plc.
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Naira expected to be under pressure until backlogs for FX payments are cleared
The foreign reserves stood at $36.33 billion droppings by $119.25 million, week on week.
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Seplat reveals new shareholder with over 5% equity
Sustainable Capital Africa Alpha Fund acquired a direct shareholding of 30,071,128 units from Seplat Petroleum
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Union Diagnostic blames “ERP Implementation” for delay of 2019 result
The company expects the accounts to be ready June 29, 2020.
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Naira falls against the dollar across forex markets as liquidity drops by 43%
Forex turnover dropped from $66.61 million on Thursday to $38.12 million on Friday.
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Nigeria’s Bonny light reaches four months high
Bonny light crude reached a four-month high, since early March 9, where its price fell to $37.22.
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Binance, Bitfinex, Coinbase, Huobi receive about 40% of all BTCs
Chainalysis also concluded that Bitcoin’s supply makes it similar to gold, giving it a safe haven asset status.
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Worry for PFAs as pandemic-induced unemployment lowers new pension accounts
Many companies are unable to create new jobs, hence the problem pension fund managers have noticed.
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UNICEF Crypto Fund announces $100,000 funding grants for startups
Applicants have the opportunity to receive a portion of funding in cryptocurrency through UNICEF.
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