Month: March 2022

Naira Sinks Value in Parallel Market, Hits N417 at IEW The Nigerian local currency, the naira, hits N590 to a United States dollar on Wednesday in the parallel market amidst…

Treasury Bills Yield Rises, FGN Bond Hits 10.75% The average yield on Nigerian Treasury bills witnessed sell pressures midweek as holders dump instruments which lifted the average yield two basis…

FCMB Branch Manager, Two Others, Docked for N1.2 bln Fraud The Ikeja GRA Branch Manager of First City Monument Bank, FCMB, Tope Munis, has been dragged before a Lagos State…

Gold Rises as USD Slides, Treasury Auction Yield Spikes Gold prices rose early on Wednesday as safe-haven buying returned on scepticism over Russian promises during peace talks to reduce military…

Dollar Slides as Russia-Ukraine Talks Advance The U.S dollar was lower against its major trading partners early Wednesday as signs that talks between Russia and Ukraine may be making progress…

OPEC Convenes to Review Oil Market Developments The Organisation of Petroleum Exporting Countries (OPEC), Joint Technical Committee (JTC) of the Declaration of Cooperation (DoC), held its 61st meeting to examine…

Kenyan Banks’ Rebound at Risk from Global Contagion –Fitch Kenyan banks’ profit recovery may be disrupted by the Russia-Ukraine conflict through second-order risks to the banks’ operating environment, Fitch Ratings…

Stocks Valuation Rises as NGX Halts Losing Streaks Stocks valuation rises midweek as the Nigerian Exchange (NGX) halts the losing streaks. The stock market had rained red since Monday after…

FIRS Lists Highest Tax Payers in Nigeria, Seeks End to Politicisation of Revenue Federal Tax Authority said Nigeria’s highest taxpayers and most compliant taxpayers are MTN Nigeria, Shell Petroleum Development…

Reps Uncover N300bn Unclaimed Funds in Nigerian Banks The House of Representatives ad hoc committee on unclaimed funds in commercial banks in Nigeria has uncovered over N300 billion in unclaimed…