Foreign Reserves Depreciated By $790m       Nigeria’s foreign exchange reserves have depreciated by $790 million despite the rise in crude oil prices. The foreign reserves stood at $34.43 billion as at May 17 data from the Central Bank of Nigeria (CBN) website showed. Managing Director, Financial Derivatives Company...

Stock Investors Lose N600bn, Market Cap Drops Below N20trn       Investors in the Nigerian stock market lost N600bn last week as the market capitalisation of equities fell below the N20tn mark. The Nigerian Exchange Limited All-Share Index and market capitalisation declined by 2.93 per cent to close...

'Ministry To Spend 70% Budget On East-West Road'         The Permanent Secretary of the Ministry of Niger Delta Affairs, Dr Babayo Ado, has disclosed that the Federal Government is working to ensure the completion of the East-West Road. He said the ministry would spend 70 per cent...

FMDQ Exchange Lists BUA Cement’s N115bn Bond       FMDQ Securities Exchange Limited has announced the admission of the BUA Cement Plc N115bn Series 1 Fixed Rate Senior Unsecured Bond under its N200bn Bond Issuance Programme, for listing on its platform, as approved by the Board Listings...

Investors Dump Equities Amid Anxieties Over CBN’s Rate Call         Nigerian equities closed at the weekend with a net loss of N604 billion as anxieties over the likely decisions of the Central Bank of Nigeria (CBN) on benchmark interest rate and other monetary policy tools fuelled...

Reps Plan to Prevent NCC, NPA, NIMASA from spending revenue The House of Representatives is moving to prevent some ministries, departments and agencies from further spending and diverting the revenue they generate, especially the Nigerian Ports Authority, the Nigerian Communications Commission and the Nigerian Maritime...