Highlights Archive - Page 2 of 2

Marina Times March 11, 2024

Transcorp Power market cap hits N2.2 trillion as demand skyrockets.
Egypt will get a $8 billion IMF bailout after removing currency controls.
The success of Ghana’s Anti-LGBTQ Bill could risk the country benefiting from $3.8 billion of World Bank support.
Nigeria’s total foreign trade rises by 37.2% to ₦71.88 trillion in 2024.
Debt Management Office (DMO) will list ₦350 billion Sukuk bonds on NGX and FMDQ.
FG sets blueprint for $2.5 billion carbon market with a new committee.
Foreign investors dominate bids for OMO and Treasury Bills by 75% – CBN.
NGX Group appoints Olufemi Shobanjo as Chief Executive Officer of NGX RegCo.

Marina Times March 4, 2024

GTB and UBA lead the stock market rebound as investors reassess MPR outcomes.
FG pays $120 million of $1.3 billion debt to gas suppliers to boost production.
CBN will clear the remaining FX backlog in the next few days- Cardoso.
MTN Nigeria incurs N740 billion in forex losses, and shareholders’ funds are wiped out.
Binance turns off the naira feature on its P2P market.
CBN will sell N1.64 trillion in Treasury bills between March and May 2024.

Marina Times February 19, 2024

Black market FX rate dips to N1,600 per dollar as the gap with the official rate widens.
Neimeth International Pharmaceuticals Plc gets NGX approval for a 2-year free float extension.
FIRS, CBN, and the Ministry of Works will review the N2.59 trillion tax credit scheme.
CBN stops dollar payments for foreign personal and business travels.
TotalEnergies Nigeria’s annual profit declines to N13 billion.
CBN adjusts the FX rate for customs duty to N1,515.092 per dollar for the 6th time in 2024.
Kenya will issue $1.5 billion in Eurobonds, as it records over $5 billion subscriptions.

Marina Times February 12, 2024

CardinalStone will acquire 80% equity in Radix Pension Managers Limited.
CBN reforms are yielding positive results. FX transaction volume hit $800 million – Yemi Cardoso.
Forex turnover falls by 56.17% to $203 million on Wednesday despite CBN’s current policies.
Nigeria lost $1.4 billion over the restriction of forex to 43 items between 2015 and 2019- CBN.
TotalEnergies to sell its Nigerian onshore oil business after Shell’s exit.
Naira devaluation hits PZ Cussons on multiple fronts, reporting a £88.2 million FX loss.

Marina Times February 5, 2024

The CBN bans banks and fintechs from international money transfer services.
Customs increase exchange rate for cargo clearance by 42.7%.
Naira dips marginally to N1,461.90/$1 on Thursday despite CBN’s removal of the International Money Transfer Operators (IMTOs) FX cap.
Nigerian Exchange (NGX) ends January with a striking 35.3% surge in the All-Share Index.
In January 2024, Naira depreciated by 37.6% at the official market.
Transcorp posted 102% profit growth in 2023, with total assets reaching N523 billion.

Marina Times January 22, 2024

CBN is still short of the amount needed to clear forex backlog – Fitch Ratings.
Kenya raises $210 million loan in race to fund Eurobond payment.
Energy stocks lead gainers as NGX appreciates by 2.04%, ASI nears 92,000 on Thursday.
Otedola buying into Dangote Cement, stock up 48% YTD.
Shell to sell off its onshore oil business in Nigeria

Highlights