Economy

  The naira strengthened to N1,360.15/$ at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, recording its strongest closing level since June 16 as the currency continued its gradual recovery against the U.S. dollar. Data from the Central Bank of Nigeria (CBN) showed that the naira gained N4.85 from the N1,365/$ recorded on Tuesday, representing […]

  The Nigerian equities market extended its decline on Wednesday, August 12, 2026, as heavy selling in consumer goods stocks and selected large-cap counters wiped approximately N1.76 trillion off market capitalisation. The NGX All-Share Index (ASI) declined 1.12% to close at 243,967.09 points, down from 246,723.57 points recorded on Tuesday. Consequently, market capitalisation fell to

  The Securities and Exchange Commission (SEC) has set 5:00 p.m. on Trade Date plus One (T+1) as the settlement deadline for equities and commodities transactions in Nigeria’s capital market. The Commission disclosed this in a public notice signed by its management on August 12, 2026, providing further clarification on the implementation of the T+1

  The Economic and Financial Crimes Commission (EFCC) has been urged to investigate an alleged fraud and impersonation involving a $300 million investment claim connected to the ongoing dispute over River Park Estate in Lugbe, Abuja. The petition was signed by Oluwabunmi Adebiyi, Esq., of Blue-Gate Solicitors & Attorneys, who identified himself as solicitor to

The price of gold per gram in Nigeria is currently estimated at approximately N220,000 for pure gold, including retail markup fees, as metal traders position cautiously ahead of the release of fresh US inflation data. Gold dealers in major Nigerian markets, including Lagos, Kano and Abuja, typically apply a local markup of between 5% and

  The Nigerian equities market surged toward its mid-May high on Monday, August 10, 2026, as renewed buying interest in selected heavyweight stocks pushed total market capitalisation above the historic N160 trillion mark. The benchmark NGX All-Share Index (ASI) rose by 1.20% to close at 248,529.75 points, compared with 245,573.60 points in the previous session.

  Nigeria’s foreign exchange market recorded a sharp increase in trading activity in the week ended August 7, 2026, with total turnover rising to $3.73 billion, representing a 117% increase from the previous week. The latest increase signals continued investor and market participant appetite for dollar positions amid ongoing reforms and improved activity in Nigeria’s

  Just five applicants accounted for more than half of the total subscription value in the recently concluded public offer by International Energy Insurance Plc (IEI), which raised N25.84 billion from investors. The development is contained in the allotment result released by the insurance company following clearance by the Securities and Exchange Commission (SEC). The

  African currencies posted mixed performances against the U.S. dollar in July 2026, with several currencies recording gains while others came under renewed pressure during the month. Data from central banks shows that the Botswana pula, Seychellois rupee, and Comorian franc were the best-performing currencies on the continent during the month. The analysis compares each

The rising cost of servicing Nigeria’s domestic debt is becoming an increasing concern as borrowing costs remain high and the Federal Government continues to depend heavily on the local debt market to finance its fiscal requirements. According to economists, the growing reliance on naira-denominated borrowing has helped the government reduce its exposure to foreign exchange