NIGERIA: Exchange Rate Hits N475 in Black Market

The exchange rate of Africa’s leading oil-producing country; Nigeria has risen to 475 naira per 1 American dollar. It is speculated that the exchange rate will rise up to N500 per dollar by December 2020. Director of Maurison International Bureau De Change, Alhaji Badamasi Yusuf ascribed the sudden rise of the exchange rate to short… Continue reading NIGERIA: Exchange Rate Hits N475 in Black Market

NIGERIA: SEC Set To Regulate Crowdfunding

Nigerian Stock Exchange (NSE) Floor

The acting director-general of the Security Exchange Commission (SEC), Mrs Mary Uduk, whilst speaking at an interview, said moves were being made to protect investors in the capital market by introducing regulations to help small businesses raise capital with crowdfunding. In the statement, the acting DG, Mrs Uduk said, “investors confidence is central to our… Continue reading NIGERIA: SEC Set To Regulate Crowdfunding

NSE: FBN Holdings Plc Tops Trading At Stock Exchange

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The Nigerian Stock Exchange ended the week’s trading on Friday, on a positive note as the All Share Index closed at 29.560.47 basis points, up 0.73%. While the year to date index is down 5.95%. However, Ikeja Hotel was the worst performing stock today; as the stock declined by 9.73% to close at N1.67, also… Continue reading NSE: FBN Holdings Plc Tops Trading At Stock Exchange

NSE: AccessBank Maintains Top Traded Stock At Trading Floor

Nigerian Stock Exchange (NSE) Floor

The Nigerian Stock Exchange (NSE) ended Wednesday’s trading session on a positive territory as the All Share Index closed at 29.347.62 basis points, up 0.50% making the year to date index down by 6.63%. According to the report, NEM Insurance Plc’s stock performed best with its stock gaining 10% to close at N2.20. While the… Continue reading NSE: AccessBank Maintains Top Traded Stock At Trading Floor

NIGERIA: Volatility Continues At NSE As Market Losses N5bn

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The floor of the Nigerian Stock Exchange (NSE) on Tuesday continued on a downward slide after dropping shares by N5billion. At the trading floor, the market capitalisation of listed equities declined further by 0.05 per cent to N10.948 trillion from N11.953 trillion that was reported on Monday. According to reports, the NSE All-Share Index also… Continue reading NIGERIA: Volatility Continues At NSE As Market Losses N5bn

NIGERIA: CBN Injects $210m To Boost Forex Market

The Central Bank of Nigeria (CBN) in a bid to sustain the nation’s liquidity has again, injected a sum of $210m into the Inter-bank Foreign Exchange Market. According to a statement issued on Tuesday in Abuja by the Director, Corporate Communications, CBN, Mr Isaac Okorafor, the action is in continuation of the apex bank’s determination… Continue reading NIGERIA: CBN Injects $210m To Boost Forex Market

NIGERIA: Dangote Sugar Refinery Declares N1.10 Per 50 Kobo Share After 2018 Losses

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Dangote Sugar Refinery Plc, a leading brand in Nigeria’s FMCG sector has declared a final dividend of N1.10 kobo per 50 kobo ordinary share for the financial period ended Monday, December 31, 2018. According to the company, the dividend will be effected from Wednesday, June 19, 2019, and will be paid electronically to shareholders who… Continue reading NIGERIA: Dangote Sugar Refinery Declares N1.10 Per 50 Kobo Share After 2018 Losses

NIGERIA: Red Star Express Plc Stock Peaks At Daily Market Summary

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The Nigeria Stock Exchange at the close of its trading today, closed the trading floor in red, as the All Share Index ended the trading session at 31,042.32 basis points, down 0.31%, with the trading’s Year To Date (YTD) index down to 1.24% On the list of top gainers on the trading floor, Red Star… Continue reading NIGERIA: Red Star Express Plc Stock Peaks At Daily Market Summary

ETHIOPIA: Boeing Stock Plunges After Ethiopia Airline Crash

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The most sold Modern Passenger Aircraft in the world, the Boeing 737 Max family, is currently under scrutiny from stakeholders, following two crashes in 5 months with the latest Ethiopian Airline Boeing-737-800 Max crash; a crash which claimed the lives of 157 passengers and crew on-board from around 33 countries. Gathered intelligence and information concerning… Continue reading ETHIOPIA: Boeing Stock Plunges After Ethiopia Airline Crash

NIGERIA: NSE Loses $233.12 Million In 6 Hours Following The Re-election Of The President

Following the announcement of the results of the Nigerian Presidential elections with the results of the polls indicating incumbent President Muhammadu Buhari’s early leads in the polls, the Nigerian Stock Exchange on its trading floor has lost the sum of $233.12 million in six hours. The stock market downslide was attributed to profit taking as… Continue reading NIGERIA: NSE Loses $233.12 Million In 6 Hours Following The Re-election Of The President