Category: nairalaw.com

Oil Prices Decline as Market Reacts to US Stockpile Oil prices fell further on midweek due to larger-than-expected crude inventory build in the US, signalling a demand drop in the…

Naira Skids as CBN Releases Information on Shadow FX Flows The Naira experienced a major decline in purchasing power at the official market as US dollar supply tracked below FX…

Banks’ Increase Demand for Liquidity Drive Rates North Nigerian deposit money banks’ sustained demand for liquidity boost drove interbank borrowing rates higher in the money market amidst fast-changing market dynamics.…

NGX Slumps as Investors React to Aggressive Rate Hike The Nigerian Exchange (NGX) slumped on Tuesday as equities investors reacted negatively to aggressive interest rate hikes by the Central Bank.…

$26bn Illicit Flows Pass Through Binance Nigeria – Cardoso The Central Bank of Nigeria (CBN) governor Yemi Cardoso says over $26 billion in illicit flows has passed through the crypto…

Removal of Petroleum Subsidy Challenging but for Long Term Energy Security – Tinubu President Bola Tinubu on Tuesday said the decision to remove petroleum subsidy was a challenging one, but…

No Weekly FX Sales to Bureau De Change – CBN The Central Bank of Nigeria (CBN) has denied a move to return to weekly forex sales to Bureau De Change…

CBN Hikes Interest Rate by 4% The Monetary Policy Committee (CBN) of the Central Bank of Nigeria (CBN) increased the benchmark interest rate by 4% at the end of the…

UMG Buys Majority Stake in Mavin Records Universal Music Group (UMG) has purchased a majority stake in Mavin Global, a record label founded by Don Jazzy. Mr Lucian Grainge, Chief…