Month: July 2024

T-Bill Selloffs Lift Yield to 25.2% after Auction Rate Cut The average yield on the Nigerian Treasury Bill crossed 25% in the secondary market after rate adjustment. The primary market…

DMO Hits 70% of Local Borrowing Target in 7-Month The Debt Management Office (DMO) has raised cumulative sum of N4.3 trillion from the local debt capital market since the beginning…

Paris 2024 Olympics : Falcons Lose Second Game to Spain Nigeria’s Super Falcons, on Sunday, lost their second group C game at the Paris 2024 Olympics to World champions Spain,…

Transcorp Hotels Market Price Sticky Despite Earnings Beat One of the top hospitality players in Nigeria, Transcorp Hotels Plc’s market value was flat at N1.07 trillion on the Nigerian Exchange…

Rates Crash as FAAC Credit, Coupon Payment Boost Liquidity The short term benchmark interest rates nosedived in the money market as flood of inflows saturated the liquidity level in the…

Weak Oil Demand Outlook in China Keeps Prices in Check Oil prices are on track for a third consecutive weekly decline for the week ending July 26, driven by sluggish…

NBET to Exit Electricity Market as NERC Licence Multiple Firms The Nigerian Bulk Electricity Trading Plc (NBET), is set to exit the electricity market as the Nigerian Electricity Regulatory Commission…

Fidelity Bank to Accept Oversubscriptions, Creates Additional 8.2bn Shares Fidelity Bank Plc has revealed its board of directors decision to accept oversubscription from its ongoing rights issue and public offers…

Naira Trades at N2,061 to Pound Sterling in FX Market The Nigerian naira plunged deeply against the British pound sterling in the official window, according to data from the Central…

Nigerian Exchange Sheds N1.32trn as Investors Exit Positions The equities market capitalisation of the Nigerian Exchange (NGX) fell by N1.32 trillion last week after minority shareholder selloffs in Dangote Cement…