Markets

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

The spray of naira notes is not something we can sanction – CBN

Currencies

CBN says naira abusers will be jailed, issues fresh warning

by Chike Olisah

August 18, 2021

The Central bank of Nigeria has once again warned against the abuse of the naira as it says that abusers...

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

Currencies

See the 2015 CBN press release that helped freeze bank accounts of 6 FinTechs

by Ubah Jeremiah Ifeanyi

August 18, 2021

The Central Bank of Nigeria was granted, on Tuesday, a motion that demanded the temporary suspension of bank accounts belonging...

Cryptos

Binance hires Greg Monahan, former U.S. cybercrime expert

by Ajibola Akamo

August 18, 2021

Binance, the largest cryptocurrency exchange by volume of transaction, announces the appointment of Greg Monahan, former US Treasury Criminal Investigator,...

DeFi exploit: Hackers steal $611 million from Poly Network

Cryptos

Update: Poly Network hacker, ‘Mr White Hat’ gets job offer

by Ajibola Akamo

August 18, 2021

Mr White Hat, the alias for the Poly Network hacker who stole approximately $613 million dollars, has been offered a...

Stocks, U.S. approves New York Stock Exchange listing plan to cut off investment banks, Nasdaq escapes sell off as Dow and S&P plunges

Markets

The bears storm the US stock market as the Dow plunges

by Ubah Jeremiah Ifeanyi

August 18, 2021

The Dow Jones Industrial Average dropped 282 points on Tuesday, while the S&P 500 also suffered significant losses. The Nasdaq...

Naira falls across forex markets as businesses resume after public holidays

Currencies

Naira appreciates at official market as dollar supply decreases marginally

by Samuel Oyekanmi

August 18, 2021

Tuesday 17th August 2021: The exchange rate between the naira and the US dollar closed at N411.5/$1 at the Investors and...

Bamboo says USD Wire Transfer option is no longer available for deposits

Business News

Bamboo reaches out to customers on CBN account freeze

by Janet John

August 17, 2021

Fintech investment platform, Bamboo has reached out to its customers reassuring them of the safety of their funds in the...

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Business News

CBN freezes bank accounts of six fintech platforms for 180 days

by Janet John

August 17, 2021

A federal high court in Abuja has granted the request of the Central Bank of Nigeria (CBN) to freeze accounts...

BOC Gases Nigeria Plc appoints Aderonke Segun-Alabi as Company Secretary

Corporate deals

DEAL: T.Y Danjuma’s TY Holdings Ltd acquires majority stake in BOC Gases, now owns 72%

by Chidi Emenike

August 17, 2021

TY Holdings Limited, a firm linked to former minister of defence and retired military general, Mr Theophilus Yakubu Danjuma, has...

Manufacturing

Sell-off in Nestle shares leads to N110 billion market value loss in a day

by Chidinma Anyalewechi

August 17, 2021

At the end of today’s trading session, Nestle Nig Plc recorded a loss of 9.09% which can be attributed to...

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Best performing Nigerian stocks for Easter week 2026

Fidson rakes in N77.8 billion from ethical drug sales, indicating 41% surge

CBN, others slam N419 million fines on Custodian Investment Plc in 2025

FMDA projects N8.84trn liquidity inflows in April on OMO, T-Bills maturities

Markets

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

CBN says naira abusers will be jailed, issues fresh warning

See the 2015 CBN press release that helped freeze bank accounts of 6 FinTechs

Binance hires Greg Monahan, former U.S. cybercrime expert

Update: Poly Network hacker, ‘Mr White Hat’ gets job offer

The bears storm the US stock market as the Dow plunges

Naira appreciates at official market as dollar supply decreases marginally

Bamboo reaches out to customers on CBN account freeze

CBN freezes bank accounts of six fintech platforms for 180 days

DEAL: T.Y Danjuma’s TY Holdings Ltd acquires majority stake in BOC Gases, now owns 72%

Sell-off in Nestle shares leads to N110 billion market value loss in a day

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