Dollar Sales Drop by 74% to $84.1m Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252m to $84.1m on Friday. This represents a 74 percent drop from the $331.1m transactions recorded at the official Nigeria Autonomous...

Dollar Supply Rises by 180% in FX Market as Banks Sell $440m Dollar supply in the official foreign exchange market rose by 180.59 percent to $440.13m on Friday. This is as the naira closed the week at N1435.53/$ on Friday after what was a turbulent week. According...

Nigeria’s Oilfields Face Shutdown Risk Amid Market Woes   The collapse of crude oil prices and the oversupply of the commodity in the global market amid shrinking demand may force some producers in Nigeria to shut down their oilfields. Given the high cost of producing a barrel...

World Federation Of Exchanges, ASEA Sign MoU To Grow Markets   The World Federation of Exchanges (WFE) , the global industry group for exchanges and central counter parties (CCPs), has signed a memorandum of understanding (MOU) with the African Securities Exchange Association (ASEA), aimed at supporting...

Incessant Sell-offs Drag Market Index 1.18% Lower   Persistent sell-offs witnessed in the nation’s stock market last week dragged the All-Share Index lower by 1.18 per cent. The market capitalisation dropped from N11.676tn recorded on Thursday to N11.565tn on Friday, while the ASI shed 305.9 basis points...

Forex Market Gets $210m From CBN The Central Bank of Nigeria has sustained its intervention in the Inter-Bank Foreign Exchange Market by injecting 210 million dollars into the various segments of the market. The Director, Corporate Communications, CBN, Mr Isaac Okorafor, on Tuesday in Abuja, said...