Inconsistent Dollar Supply by CBN Hinders Naira Recovery, Say BDC Operators
Currency traders have blamed the persistent depreciation of the naira and the volatility in Nigeria's foreign exchange (FX) market on...
FX Turnover Drops by 21% in Early August Amid CBN’s Retail Dutch Auction
The Nigerian foreign exchange (FX) market witnessed a significant downturn in turnover during the first two weeks of August 2024,...
FCMB Group Plc Launches N110.94 Billion Public Offering Amid Strategic Growth Plans
FCMB Group Plc has officially launched a significant public offering aimed at raising N110.94 billion. The offer, which began on...
Nigerian Equity Market Experiences Continued Downturn, Loses N847 Billion
The Nigerian equity market has continued its downward trajectory for the second consecutive week, with losses totaling approximately N847.03 billion....
Government Revenue Sees N2.74 Trillion Boost from Weak Naira in Six Months
The federal, state, and local governments in Nigeria collectively gained an additional N2.74 trillion in revenue from exchange rate fluctuations...
Diesel Prices Drop by 5.71% in July, Yearly Increase Still Significant
The average retail price of Automotive Gas Oil, commonly known as diesel, experienced a notable decrease of 5.71% in July...
Fitch Downgrades Union Bank’s Credit Rating Amid Capital Adequacy Concerns
Fitch Ratings has downgraded the long-term issuer default ratings (IDR) of Union Bank of Nigeria, citing concerns over the bank's...
Inflation Rate Declines for the First Time in 19 Months, Now at 33.40% in July
Nigeria's inflation rate saw a notable decrease in July 2024, marking the first decline in 19 months. The headline inflation...
CBN Lowers Customs FX Rate for Cargo Clearance Following Naira’s Gains
The Central Bank of Nigeria (CBN) has reduced the foreign exchange (FX) rate for importers to clear goods at Nigerian...
Fidelity Bank Exceeds N127.1 Billion Target in First Phase of Recapitalization
Fidelity Bank has successfully surpassed its initial target of N127.1 billion in the first phase of its recapitalization efforts. This...
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