Stocks Cut Losses As Market Capitalisation Rises To N20.19trn       The Nigerian stock market reversed some of its recent losses last week as the market capitalisation rose above the N20tn mark. The Nigerian Exchange Limited All-Share Index and market capitalisation appreciated by 1.23 per cent to close...

FOREX: Turnover In I&E Rises By 132% To $2.6bn       The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (forex) market rose sharply by 132 per cent month-on-month (MoM) to $2.6 billion in May, 2021 from $1.12...

Remittance To Low, Middle-income Countries Now $540bn       Remittance flows to low- and middle-income countries reached $540 billion last year, just 1.6 per cent below the 2019 total of $548 billion, according to the latest Migration and Development Brief by World Bank has shown. The bank said...

NEXIM Rolls Out N500bn For Non-Oil Export       The Nigeria Import Export Bank (NEXIM) is implementing N500 billion Non-oil Export Stimulation Facility and N100 billion Export Development Fund at single digit interest rate to support the production and export of goods and services. Managing Director and Chief...

NAICOM To Boost Financial Inclusion In Insurance Sector       The National Insurance Commission has launched a 2021-2023 strategic plan to improve financial inclusion in the country’s insurance sector. The Commissioner for Insurance, Mr Sunday Thomas, disclosed this on Friday during a seminar for insurance reporters, with the...

CBN Increases Forex Allocations To Banks       The Central Bank of Nigeria on Sunday announced an increase in foreign exchange allocations to banks to meet the requests of customers. These requests include travellers seeking foreign exchange for travel allowances, payment of tuition and medical fees, among other...