On June 16th, 2020, Nigeria Breweries Plc, the country’s largest beer maker made an announcement. Its Chairman, Chief Kolawole Babalola Jamodu purchased 10,000 shares of the company at N43.27. The deal occurred a couple of weeks earlier but recent provisions by the Nigerian Stock Exchange require that these disclosures are reported to the public of […]
Brent crude slipped below the $45 price level at Asia’s trading session on Monday. The black hydrocarbon pulled back some of its gains over ongoing concerns about global energy demand as the number of global COVID-19 caseloads keeps rising. However, Brent crude losses were capped after OPEC+ vowed recently to keep oil production at the
Brent crude prices stay below $45 over ongoing concerns about global energy demandRead More »
There was a significant improvement in the foreign exchange liquidity at the Investors and Exporters (I&E) forex window on Friday as the daily turnover rose by 95.78 percent to $59.34 million from $30.31 million recorded on Thursday. The foreign exchange market continues to experience significant pressures as a result of low oil prices and remittances
FX turnover improves by 95.78% as naira remains stable across marketsRead More »
The exchange rate between the naira and the US dollar for today (Friday, August 21st 2020), stands at ₦477/US$1 in the parallel market. The exchange rate had also closed at ₦477/US$1 on Thursday 20th August 2020. Naira: ₦477 Dollar: $1 Date: August 21st, 2020 The exchange rate between the naira and the British pound sterling
Daily Parallel Market exchange rate – ₦477/$1; ₦611/₤1Read More »
The Organization of the Petroleum Exporting Countries and its allies, OPEC+, said some members would have to reduce the group’s total production by an additional 2.31 million barrels per day in order to deal with its oversupply issues. This was disclosed through an internal OPEC+ report which was reported by Reuters. It is understood that
OPEC+ to slash production by extra 2.31 million barrels for members to limit oversupplyRead More »
The exchange rate between the naira and the US dollar for today (Thursday, August 20th 2020), stands at ₦478/US$1 in the parallel market. The exchange rate had closed at ₦480/US$1 on Wednesday 19th August 2020. Naira: ₦478 Dollar: $1 Date: August 20th, 2020 The exchange rate between the naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦478/$1; ₦608/₤1Read More »
Oil prices began to recover remarkably, but the naira does not seem to follow the path of recovery. Some reports say the banks are hoarding and round tripping, some say the banks aren’t receiving forex from CBN. It’s 2016 again. It’s another dollar crunch again. It’s another aftermath of an oil price crash. Nigeria, Africa’s
Now that oil is recovering, when will naira recover?Read More »
Brent crude futures dropped about, or 0.75%, to trade at $45.12 a barrel by 05.37 am GMT. Crude Oil prices dropped Wednesday morning at London’s trading session. This follows growing concerns over energy demand from the world’s biggest economy, amid delayed talks on the post-COVID-19 economic stimulus package. With Crude oil traders keeping one eye
Nigerian banks are sending notices to customers about a reduction in the spending limits for their naira denominated debit cards used for paying for transactions abroad. Most of the messages relate to debit cards powered by Master Card. One of such notices reads: “Dear Customer effective 16 August 2020, your Naira Mastercard International will be reduced from
Banks reduce dollar spending limit on naira debit cards to $100Read More »
The exchange rate between the naira and the US dollar as of Tuesday, August 18th 2020, stands at ₦480/US$1 in the parallel market. The exchange rate had closed at ₦475/US$1 on Monday 17th August 2020. Naira: ₦480 Dollar: $1 Date: August 18th, 2020 The exchange rate between the Naira and the British pound sterling stands
Daily Parallel Market exchange rate – ₦480/$1, ₦610/₤1Read More »
