Greif Nigeria PLC, a manufacturer and marketer of steel drums, is set to enter the third and final phase of its delisting from the Nigerian Exchange (NGX) after resolving outstanding tax liabilities and other debts. The company, which was listed on the NGX in 2011, has experienced a prolonged decline in its stock performance, dropping
The exchange rate between the naira and the US dollar appreciated N1,558.75 at the official Investor and Exporter (I&E) window on Wednesday, September 11, 2024. This marks a 4.81% gain from the previous day’s rate of N1,637.59 as Nigerian oil blends trade at $75 above the Brent contract of $70. The naira’s recent performance reflects
The exchange rate between the naira and the US dollar depreciated by 3.61% at the official Investor and Exporter (I&E) window on Monday, September 10, 2024. According to data from FMDQ, which tracks official currency transactions, the naira’s depreciation on September 10 had the naira fall to N 1637.59. The exchange rate experienced a depreciation
The All-Share Index (ASI) closed in negative territory on September 9, 2024, shedding 227.07 points as bearish sentiment weighed on key stocks like JBERGER, TRANSPOWER, and MCNICHOLS. The index settled at 96,206.46 points, reflecting a 0.24% decline from the previous day’s close, indicating continued negative sentiment in the market. Market capitalization also dropped by 0.19%,
The Central Bank of Nigeria (CBN) has approved the sale of $20 thousand each to Bureau De Change (BDC) operators at the rate of N1,580/$ in a bid to provide more forex liquidity in the market and meet demand. The apex Bank disclosed this in a statement signed to Director of Trade & Exchange department,
Nigerian Treasury Bills (NTBs) latest auction held on the 4th of September 2024 saw a remarkable display of investor interest in over N1 trillion in subscriptions. The auction results revealed strong demand across all tenors, particularly for the 364-day bills, as yield-seeking investors rushed to lock in favourable returns amidst evolving macroeconomic conditions. A total
The CEO of Crypto firm, Haru Invest was stabbed in court by a middle-aged man while attending a trial for an alleged $826 million crypto fraud. Hugo Hyungsoo Lee the CEO was stabbed by a man reportedly in his 50s during court proceedings about the alleged $826 million crypto fraud. Mr. Lee was immediately rushed
The Federal Government of Nigeria (FGN) has introduced a Domestic US Dollar Bond, an innovative financial instrument designed to attract both local and international investors. This bond, part of the government’s financing initiatives and will remain open until August 30, 2024, giving investors a sufficient window to participate in this offering. This article aims to
Nigerian companies across various sectors have ramped up their marketing and advertising budgets over the past three years. From beverages to banking, these investments reflect the intense efforts by firms to maintain brand visibility, expand market share, and engage with consumers. An analysis of the marketing and advertising expenditures from 2021 to 2023 reveals fascinating
On Friday, August 23rd, the US Federal Reserve Chair, Jay Powell delivered a much awaited speech at the Jackson Hole symposium hinting at a possible interest rate cut in the coming months. According to Jay Powell, “The time has come for policy to adjust,” stating that “The direction of travel is clear, and the timing