News from Nigeria’s capital, currency, commodities, cryptocurrencies and money markets.
CBN discontinues ±2.5% cap spread on Interbank FX transactions
Nigeria sees over $1 billion in FX market supply in the past “few days” – Cardoso
CardinalStone to acquire 80% equity in Radix Pension Managers Limited
Stock market reflects economic trends amid elevated inflation and exchange rate
No respite for the Naira as the exchange rate closes at N1,479.47/$1 at the official market
Some retirees receive as low as N450 as monthly pension – NUP
Unilever expresses concern over market share dip amid sales rebound
TotalEnergies Marketing posts N17.6 billion pre-tax profit in 2023, marking a 28% decline from 2022
Forex turnover falls 56.17% to $203 million despite CBN’s current policies
Reps claim four banks have $5 billion excess FX, to probe non-compliance to CBN’s directives
FG, States, and LGAs share N2.517 trillion FAAC exchange rate gain in 2023