admin

The FMDQ Exchange Market has announced that the Central Bank of Nigeria (CBN) will effective from today resume providing offer quotes for Naira-settled OTC FX Futures (NSOFF) contracts with tenors ranging from 13 to 60 months. The Exchange in a notice to market participants stated that the aim is to facilitate long-term foreign exchange (FX) […]

Absence of Chief Magistrate Adeola Olatubosun of a Sabo-Yaba Chief Magistrates’ Court, Lagos State, on Monday stalled proceedings in an assault case brought against afrobeat singer Seun Kuti. The News Agency of Nigeria NAN) reports that Kuti and his counsel, as well as prosecution team, were in court but the court could not sit due […]

The highly anticipated 2023 Abuja Conference of the NBA Section on Legal Practice (NBA-SLP) is set to commence on the 13th of July, 2023 and will run till the 19th of July. The Conference promises to bring together legal practitioners and experts from various fields to discuss and analyze critical issues shaping the legal landscape […]

CBN Crashes Interest Rates on Nigerian Treasury Bills The Nigerian Treasury bills (NTB) yield benchmark slumped after the apex bank refinanced matured instruments at lower spot rates in a bid to reduce costs of funds, according to primary market auction results. At the Nigerian Treasury bills auction, the Central Bank of Nigeria (CBN) offered bills […]

Undervalue Naira Exposes US Dollar Assets to FX Clawback The Naira depreciates to N769.25 per United States (US) dollar at the investors and exporters window. Bank of America (BofA) has estimated that the local currency is now undervalued after a decision to float the rate. That suggests that foreign currency denominated assets are facing possible […]

Foreign Investors Set Conditions for Re-entry into Nigerian Markets Foreign portfolio investors (FPIs) have set fresh conditions for re-entry into Nigerian markets, a decision taken after the devaluation of the naira in June 2023. Amidst the ongoing reform in the economy, foreign investors are still waiting on the sideline of the Nigerian markets; watching how […]

Transcorp Hotels Spikes 33% Ahead of Earnings Season Transcorp Hotels Plc’s market valuation spiked 33% in the stock market as alpha-seeking value hunters raised their equity positions in the company ahead of the second quarter of 2023 earnings season. The surge was propelled by positive sentiment in the local bourse as value hunters take positions […]

EU to Ban Digital Brokers with Zero-Commission Trading The European Union plans to implement a general ban on payment for order flow, which is related to a zero-commission trading practice done by digital brokers, Bloomberg News reported. The move could impact some Nigerian fintech companies offering digital trading in order to attract customers into their […]

7 Companies Account for 70% of NGX Market Capitalisation As of Friday’s close, only seven listed companies accounted for 70% of the stock market capitalisation amidst criticism that Nigeria’s capital market lacks depth. MarketForces Africa review shows that the Nigerian Exchange (NGX) has now registered seven market movers after Tier-1 banks made an entry into […]

AfDB Invests $11m in BluePeak Private Capital Fund The Board of Directors of the African Development Bank Group has approved an $11 million equity investment in BluePeak Private Capital Fund toward its $155 million target for final close, according to a statement. AfDB said the investment advances the Bank’s goal of supporting mid-size firms, including […]

Umeh Nkechinyere, the real 2023 top scorer in the 2023 Unified Tertiary Matriculation Examinations, and Ejikeme Mmesoma, who fraudulently paraded herself as the top scorer in the same examination are both from Anambra State. Umeh, 16, was declared the top scorer by the board during its 2023 policy meeting, which was held in Abuja on […]

*Ogun State Judiciary To Observe A Proceedings-free Day On July 03, 2023, In His Honour Hon. Justice Olatokunbo John Bamgbose of the Ogun State Judiciary is dead. He passed on June 30, 2023 at the age of 63 years old. Up until his passing, Justice Bamgbose served as an Elder for the Glory Tabernacle Ministry. […]