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Daily Business News Brief | Firday, June 10th, 2022

10
Jun

Investors trade N687bn fixed-income assets on NGX – Punch

Investors traded N6877.1bn worth of fixed income assets on the Nigerian Exchange Limited in May when its market capitalisation increased to N22.44tn from N21.75tn reported in April.  Despite a 12.12 per cent increase in total deals to 74 in May from 66 deals in April, total value traded depreciated by 33.67 per cent to N393.3m in May from N260.86m recorded in April.  Also, total volume traded at the fixed income segment of the NGX depreciated by 34.84per cent to close May at 246,038 from 377,566 reported in April……………….read more

Nigerians beat CBN restrictions, trade N78bn Bitcoin in three months – Punch

Nigerians traded at least N77.75bn ($185m) worth of Bitcoin in the first three months of the year despite the Central Bank of Nigeria’s restrictions on cryptocurrency transactions in the country.  This is a 5.71 per cent increase from the N73.54bn worth of Bitcoin that was traded in the corresponding period of 2021, according to data made available to our correspondent by Paxful, one of the major peer-to-peer cryptocurrency platforms in the nation.  Trade from Nigeria accounted for 25.87 per cent of the total N300.48bn ($715m) worth of Bitcoin that was traded on the platform in the quarter under review. ……………..read more

Banks reward savings accounts with 1.28%, lending hits 26.61%  – Thisday

The gap between the savings and lending rates in the banking sector widened by 25.33 per cent in March, according to figures obtained from the Central Bank of Nigeria.  Latest figures obtained from the CBN on money market indicators revealed that savings deposit rate was 1.28 per cent in March while the maximum lending rate was 26.61 per cent.  It showed that in February, the savings rate was 1.28 per cent while lending rate was 26.61 per cent.  According to the figures, the savings rate stood at 1.25 per cent in January while lending rate was 30.73 per cent…………..read more

Popoola Highlights NGX Capacity to Provide Sustainable Devt, Combat Climate Change- Thisday

The Chief Executive Officer of Nigerian Exchange Limited (NGX), Mr. Temi Popoola has re-emphasized the capacity of the NGX in advancing sustainable development and combat climate change by fostering the growth of long-term sustainable finance.  Popoola in a statement celebrating World Environment Day, said as the sustainable exchange championing Africa’s growth, NGX has a long-standing commitment to fostering the growth of long-term sustainable finance in Nigeria and across Africa…………read more

Nigeria’s public debt climbs by N2.04tn in Q1 – DMO– Punch

The Debt Management Office said on Tuesday that Nigeria’s total public debt stock increased to N41.60tn in the first quarter of 2022 from N39.56tn as of December 2021.  This shows an increase of N2.04tn within a period of three months.  The public debt stock covers the total domestic and external debt of the Federal Government and state governments and the Federal Capital Territory…………..read more

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