Category Archives: Markets

Forex: CBN injects $327m, CNY 69m into Retail SMIS

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The Central Bank of Nigeria (CBN) has injected $327.4 million into the interbank retail Secondary Market Intervention Sales. This is in addition to the sale of CNY 69,707,333.39 in the spot and short-tenored forwards. The figures obtained from the CBN at the weekend, showed that the dollar-denominated interventions were only for concerns in the agricultural […]

EFCC probes 35 capital market fraud cases

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THE Economic and Financial Crimes Commission (EFCC) is investigating about 35 fraud cases at the capital market. Sources confirmed at the weekend that the EFCC and the market regulators, especially Nigerian Stock Exchange (NSE), have stepped up collaboration on prevention of corrupt practices and market abuses with the NSE referring more cases to the anti-graft […]

CBN auctions Chinese currency

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The Central Bank of Nigeria sold yuan at a range of 49-51 naira at its first auction of the Chinese currency- Yuan. The auction, which is part of an attempt to encourage the use of an alternative trading currency, particularly given the high level of imports from China, sold the yuan for immediate value and […]

Stock market capitalisation gains 0.84%

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The All Share Index and the market capitalisation of the Nigerian Stock Exchange gained 0.84 per cent on Monday, starting the week on a positive note. The All Share Index and the market capitalisation stood at 36,946.05 basis points and N13,384 trillion, gaining 309.08 basis points and N112 billion respectively. At the end of the […]

Chinese Yuan: CBN injects $340ml into Secondary Market Intervention Sales

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Following last weeks take-off of its intervention in the sale of foreign exchange in Chinese Yuan (CNY), the Central Bank of Nigeria (CBN), on Friday, injected the sum $340, 507, 376.51 into the interbank retail Secondary Market Intervention Sales (SMIS). This is also in addition to the sale of CNY 69,858,087.15 in the spot and short […]

Stock brokers to support SEC on capital market studies

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The Chartered Institute of Stock Brokers (CIS) has pledged to support the Securities and Exchange Commission (SEC) to infuse capital market studies into the curriculum of schools in the country. The Acting Director -General of SEC, Ms Mary Uduk, said this in a statement issued by the Acting Head of Media of the commission, Mrs […]

CBN to lenders: Submit bid for Chinese Yuan

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The Central Bank of Nigeria on Friday asked lenders to submit bids for the Chinese yuan, according to traders, in the first auction after it agreed a $2.5 billion swap with its Chinese counterpart in May. The auction is part of an attempt to encourage the use of an alternative trading currency, particularly given the […]

Capital Market: Senate plans legislation to revive market

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The Nigerian National Assembly has expressed determination to revive the nation’s capital market through legislation to contribute to infrastructure development in the country.   The Chairman Senate Committee on Capital Market Senator Foster Ogola stated this at a joint briefing by the National Assembly joint committee on Capital Market on the forth coming Bi-Annual Stake […]

6th Capital Market Information Security Forum To Be Hosted By Nigeria

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The 6th edition of the Nigerian Stock Exchange’s bi-annual Nigerian Capital Market Information Security Forum (NCMISF) is set to hold on Wednesday, July 25, 2018, at the NSE Event Center, 2/4 Customs Street, Lagos. The free to attend conference which was sponsored by FPG Technologies Ltd and Control Risks, is themed, “Social Engineering, The Neglected Human Factor”. […]

Naira appreciates marginally against dollar at parallel market

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The Naira appreciated marginally  at the parallel market in Lagos, exchanging at N358 to the dollar against N358.5 on Wednesday, gaining 50kobo. It exchanged at N478 and N418 against the Pound Sterling and the Euro, respectively. At the Bureau De Change (BDC) window, the naira closed at N360 to the dollar, while the Pound Sterling […]