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Stability In The Capital Market-Analyst

Stability In The Capital Market-Analyst

  The uncertainty expressed by investors in the country’s stock and fixed income markets is likely to ease as analysts expect some stability in the capital market this week. Activities in the equities market last week took a see-saw pattern as the Nigerian Stock Exchange All-Share Index contracted and advanced intermittently in the course of […]

Oil Price Leveraging.

Oil Price Leveraging.

A thin ray of light has pierced Nigeria’s gloomy skies. International crude oil prices held steady above the $55 per barrel threshold on Friday while, two days before, the World Bank reaffirmed its forecast of a return to positive growth for Africa’s largest economy. The prospects present two classic challenges: managing revenue from the price […]

Naira Falls To 497 As Dollar Scarcity Persist

Naira Falls To 497 As Dollar Scarcity Persist

As dollar shortages continued to hit the market, the Nigeria’s local currency fell to 497 against the United States currency at the parallel market on Friday. The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, told Reuters that the he expected dollar supplies to the BDCs to resume next week. Traders […]

CBN Resumes Dollar Sales To BDC Operators Next Week

CBN Resumes Dollar Sales To BDC Operators Next Week

CBN will next week, resume dollar sales to BDCs so as to ensure stability of the Naira exchange rate. The Central Bank of Nigeria (CBN) will resume sales of dollar proceeds of international money transfer (IMT) to bureaux de change (BDC) operators next week. CBN Governor, Mr. Godwin Emefiele, said this during a meeting with executives of […]

Beware Of Bitcoin, SEC warns Nigerians

Beware Of Bitcoin, SEC warns Nigerians

The Securities and Exchange Commission is warning the public to exercise extreme caution with regard to digital (crypto currencies) as a vehicle of investments. SEC, on Thursday said its attention had been drawn to radio advertisements and other modes of solicitations of the public to invest in crypto currencies such as Swisscoin, OneCoin, Bitcoin and […]

Naira May Weaken Again In Forwards Market

Naira May Weaken Again In Forwards Market

Irrespective of the measures implemented by the Federal Government to stabilize the local currency, the naira is expected to weaken further in the forwards market. According to a Bloomberg report, six-month contracts declined to their lowest level since September last week as crude oil advanced by 20 per cent after the Organisation of Petroleum Exporting Countries agreed to […]

Naira Strengthens Amid Dollar Scarcity

Naira Strengthens Amid Dollar Scarcity

The naira closed at N493 per dollar last Friday, but on Monday appreciated in value against the US dollar, gaining N3.00k to close at N490/$ at the parallel market Monday. This represents a 0.61 percent gain. Against other currencies, the naira closed at N580 against the Pounds Sterling, and N485 against the Euro also at […]

Forex Is Responsible For kerosene Price Hike – Okanlawon

Forex Is Responsible For kerosene Price Hike – Okanlawon

Alhaji Olanrewaju Okanlawon, has ascribed the recurring hike in the price of kerosene to the unstable foreign exchange occasioned by the lingering economic recession. Okanlawon is A factional Chairman of the Independent Petroleum Marketers Association of Nigeria, in Kwara. Okanlawon said on Saturday that the association should not be blamed for the series of complaints emanating […]

CBN Reduces Forex Sale As Nigeria’s Eurobonds Appreciate

CBN Reduces Forex Sale As Nigeria’s Eurobonds Appreciate

Last week, the Central Bank of Nigeria (CBN) reduced its weekly foreign exchange sale to banks by 25 percent, even as prices of Nigeria’s Eurobond rose amid renewed investor’s interest. Previously the CBN have been selling $7.5 million dollars per week to banks through the interbank foreign exchange market. Financial Vanguard investigations however reveal that […]

Naira May Strengthen This Week

Naira May Strengthen This Week

While some said the naira would experience further decline at the parallel market this year, others said the volatility noticed in the exchange rate last year could not continue this year. Economic and currency experts have expressed divergent views over the outlook of the naira this year. The naira is seen strengthening in the near […]

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