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Naira Records Gain, BDCs Sell US Dollar at N1,050 The naira recorded another gain against the US dollar in the forex market on Monday. However, the exchange rate recovery appeared to have slowed down, having lasted for weeks across foreign exchange markets, according to the latest data obtained by MarketForces Africa. So far, the naira […]

US Dollar Weakens Versus GBP, EUR Ahead of Retail Data The US dollar fell against its major trading partners early Monday, except for a small improvement versus the yen, before the release of retail sales data for March and Empire State manufacturing conditions data for April. The National Association of Home Builders sentiment index for […]

Botswana Inflation Rate Declines to 2.9% Botswana’s inflation rate dropped to a seven-month low of 2.9% year on year in March 2024, down from 3.9% in each of the previous two months, according to statistics office data release.Naira Steadies as Banks Issue Update on FX Purchase Consumer prices slowed down across several price index categories, […]Read More

Nigeria’s Inflation Rate Rises to 33.20% Nigeria’s headline inflation rate rose by 150 basis points in March to 33.20% year on year from 31.70% reading in February,2024, according to statistics office. In April 2023, consumer inflation settled at 23.22% year on year. This suggests that inflation has grown by 10% in 12 months. In its […]Read More

Investors  Dump Zenith Bank Shares Ahead of Capital Raise Equities investors in the local bourse are currently selling their shares in Zenith Bank Plc, intraday trading data obtained from the Nigerian Exchange revealed. The bank’s market value decreased by more than 5% in the past days. Data obtained from the Nigerian Exchange revealed that the […]

Airtel Africa Repurchases More Shares from London Market Airtel Africa has announced that the telecommunication company has purchased 356,282 ordinary shares of USD 0.50 each on the London Stock Exchange (LSE) from Citigroup Global Markets Limited at average price of GBP106.53. The company’s share purchase is part of the larger share buyback scheme granted by […]

National Grid Collapses for fifth Time in 2024 The National grid has collapsed again, marking the second blackout in less than one month. It also marks the fifth grid disturbance in 2024. According to data obtained from the Nigerian System Operator’s portal, between 2:00 am till the time of filing this report. The grid recorded […]

Ministry of Humanitarian Affairs: We Are Investigating Web of Fraudulent Practices — EFCC The Economic and Financial Crimes Commission (EFCC) is probing intricate web of fraudulent practices in the Ministry of Humanitarian Affairs, Disaster Management and Social Development, according to an official statement. “At the outset of investigations, past and suspended officials of the Humanitarian […]

Gov. Abdullahi Sule of Nasarawa State has expressed concern over the recent increase in cases of kidnapping in the state. Sule stated this during an emergency security council meeting on Monday in Lafia. The governor said that the emergency meeting was to assess the security situation with the view to proffering solutions to kidnapping and […]

The naira has continued its resurgence against the United States dollar, appreciating N1,136/$ at the official market and N1,050/$ at the parallel market at the close of trading activities on Monday. This was as traders predicted the dollar’s fall to below N1,000 before the end of the week. At the official foreign exchange market, data […]

The Federal Ministry of Housing and Urban Development (FMHUD) has unveiled plans to assign 8,925 residences to deserving applicants nationwide through the national housing programme. This was contained in a statement by Dr. Marcus Ogunbiyi, the Permanent Secretary of FMHUD in Abuja. Ogunbiyi elucidated that the allocation marks the culmination of a meticulous assessment of […]

Human rights lawyer, Femi Falana, has faulted the ruling of Magistrate Mikhail Kadiri, the Coroner who investigated the death of Master Sylvester Oromoni, a 12-year-old student of Dowen College, Lekki, Lagos State. Recall that in the ruling delivered on Monday, the Coroner Lagos exonerated Dowen College and blamed the death of the deceased on the […]