Fixed Income, Currencies Trade by Investors Hit N62.86trn as Pressure Mounts on FX – Thisday
Investors in the Fixed Income and Currencies (FIC) market of the FMDQ Exchange traded a total of N62.86 trillion in the first four months of 2022, representing nearly 7 per cent decline from N67.59 trillion traded in the first four months of 2021……………..read more
Banks tighten forex access as reserves hit seven-month low – Punch
The country’s external reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of Nigeria have revealed. Findings have shown that the continuous decline in the country’s external reserves used to defend the naira value is making the banks tighten access to foreign exchange to travellers and other legitimate users as scarcity bites harder……………read more
Consumer goods imports rise by 109.25% amid dollar shortage – Punch
Nigeria spent N1.22tn on consumer goods imports in 2021, according to the Foreign Trade Statistics of the National Bureau of Statistics. This was a 109.25 per cent increase from the N584.41bn spent on importing consumer goods in 2018. The consumer goods imported into the country are categorised into durable, semi-durable and non-durable…………..read more
SEC: Efficient Capital Markets In W’AfricanDemands Regular Assessments – Daily Independent
The Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has said efficient functioning of capital markets in the West African Region demands a regular assessment of policies and programs to fit current realities, and address the region’s peculiar challenges. ………………. read more
Nigeria’s Internet population grows by 108.39%, now 80.68 million- Thursday
Nigerians with access to fast Internet have grown by 108.39 per cent in four years, according to data from the Nigerian Communications Commission. The commission’s portal revealed that broadband penetration increased from 38.72 million (20.28 per cent) in March 2018 to 80.68 million (42.27 per cent) in March 2022. According to the ‘Nigerian National Broadband Plan (2020 – 2025),’ broadband commonly refers to high-speed Internet connection……………….read more