Markets

Naira ends October at N1,427.5/$1, best monthly performance since January

Fixed Income

DMO opens November FGN Savings Bond subscription with up to 14.565% yield

Cryptos

Crypto carnage continues: Bitcoin’s plunge brings it inches from $105K low

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Markets

News from Nigeria's capital, currency, commodities, cryptocurrencies and money markets.

Company Results

Beta Glass Plc announces the appointment of two new directors.

by Chidi Emenike

Beta Glass Plc has announced the appointment of Mr Emmanouil Metaxakis and Mrs Clare Omatseye into its board as directors,...

U.S senator and SEC weigh on Crypto market

Cryptos

Over $2 billion worth of Bitcoin leave centralized exchanges

by Ajibola Akamo

A total of 57,000 BTC worth approximately $2.3 billion was acquired from centralized exchanges in 24 hours.

Where next for oil prices?, Brent crude futures gained 0.14 to trade at $34.70 at the time this report was drafted, recovering some of its losses earlier in the oil trading session. , Brent crude price fails to remain over $40, concerns over pledge cut strengthens

Commodities

Oil bullish as U.S inventory declines

by Ajibola Akamo

Data released from the U.S EIA showed a decline of 4.089 million barrels in the 3rd week of July.

Nigeria’s manufacturing sector contracts for 5th consecutive month – CBN , To test FX market, CBN pumps $50 million, CBN issues guidelines to Finance Institutions on establishment of Subsidiaries and SPVs, CBN injects $2.63 billion to defend naira in one month, CBN’s COVID-19 N50 billion targeted credit facility, CBN’s heterodox policies buoys credit growth, These industries drove business activities in September, Credit to Nigerian economy falls to N38.67 trillion as private stagnates at N30 trillion, Availability of secured credit to businesses and households increases as unsecured credit to households dips in Q3 2020 - CBN, CBN releases regulatory guidelines on the eNaira

CBN directs banks not to refuse any FX request with proper document, to sanction defaulters

by Abiola Odutola

The Central Bank of Nigeria (CBN) has directed all Deposit Money Banks (DMBs) to ensure that no customer is turned back or refused...

Company Results

Airtel Africa posts profit after tax of $142m in HY 2021.

by Chidi Emenike

Airtel Africa Plc released its unaudited financial results for the period ended 30th of June, 2021. Revenue for the period...

Exchange rate falls at the NAFEX window on a depressed forex market

How CBN’s Forex ban to BDC’s will affect the prices of goods and services

by Ubah Jeremiah Ifeanyi

CBN BDC ban weakens the naira and aggravates the inflation crises

Crypto owners robbed of 1,150,000 XRP, Ripple owners say XRP will be worth $100, XRP losing steam as BTC & ETH gain investors' funds

Cryptos

XRP surges to 70 cents on providing remittances from Japan to the Philippines

by Olumide Adesina

On some positive news surrounding the popular crypto asset known for having a strong remittance network, XRP rose to a...

Company Results

Custodian Investment posts half-year profit of N4.6 billion, proposes interim dividend of 10 kobo/share.

by Chidi Emenike

Custodian Investment Plc released its unaudited financial results for the period ended 30th of June, 2021. Gross revenue for the...

Dollar, Exchange rate, FOREX, NAFEX market turnover drop by 59%, Naira crashes to N470/$1 as currency uncertainty worsens

Naira gains at official window as dollar supply surges by 204.4%

by Samuel Oyekanmi

Naira depreciated significantly by 3.9% at the parallel market to close at N525/$1 as against N505/$1 recorded the previous day.

As naira crashes in value, BDC operators say they are “studying the situation”

by Chike Olisah