Investors gain N1.9tn on NASD in one week –
Investors on the NASD Over-the-Counter Securities Exchange recorded a N1.90tn gain last week as the market capitalization rose by 1.86 per cent. According to the NASD weekly report for the week ended May 30, the NASD OTC market capitalization increased from N1.87tn in the previous week to N1.90tn, while the NASD All-Share Index rose from 3,188.76 to 3,248.00 points. The report showed that the oil and gas sector dominated the week’s trading activity, accounting for 81.37 per cent of the total transactions. A total of 506.19 million shares worth N4.18bn were exchanged in 21 deals in the sector……(Read More)
BDCs await CBN’s move as recapitalization deadline elapses –
The Central Bank of Nigeria (CBN) is yet to communicate its next moves on the planned recapitalisation of the Bureau de Change (BDC) operators as the deadline of June 3, 2025, elapsed yesterday. The CBN had introduced a new recapitalization regime for BDC operators, with two tiers: Tier One requiring a minimum capital of N2 billion and Tier Two requiring N500 million. Under the new deal, Tier One BDCs will be licensed to operate nationwide, while Tier Two will be limited to a single state…….(Read More)
NBCC unveils center to deepen UK-Nigeria trade relationship –
The Nigerian British Chamber of Commerce (NBCC) has launched the Nigerian British Trade Centre, a strategic initiative designed to boost exports, attract investment and expand market access between Nigeria and the United Kingdom (UK). Country Director at the UK Department for Business and Trade, Mark Smithson, highlighted opportunities under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) and Developing Countries Trading Scheme (DCTS), which he said currently offers low or zero tariffs to over 2,000 Nigerian products entering the UK………(Read More)
With $4bn Market Size, Nigeria’s Islamic Finance Industry to Surge In H2 –
Fitch Ratings forecasts a boom in Nigeria’s Islamic finance sector from the second half of 2025 through 2026, driven by rising sovereign sukuk issuances and expanding Islamic banking assets following new regulatory measures and liquidity tools introduced by the Central Bank of Nigeria (CBN). Following the introduction of liquidity tools for non-interest financial institutions in the country by the CBN and the success of the government Sukuk issuance, Fitch Ratings says it expects Islamic financing to boom in the country from the second half of this year….(Read More)
Asian stocks rise, dollar wobbles as trade uncertainty persists –
Asian equities rose on Wednesday lifted by technology shares and the dollar drifted as higher U.S. duties on steel and aluminum took effect, marking the latest chapter in the trade war that has rattled the markets for much of the year. Investor focus has been on the pace of trade negotiations and the lack of significant progress. Wednesday is the deadline for U.S. trading partners to submit their proposals for deals that might help them avoid Trump’s hefty “Liberation Day” tariffs from taking effect in five weeks.…(Read More)
UK to be spared 50% steel and aluminum tariffs imposed by Trump on other countries –
The White House has signaled that the UK will be spared the 50% steel and aluminum tariffs which came into effect on Wednesday. In a statement, the US president, Donald Trump, said he had decided to “provide different treatment” to the UK after a deal that was struck between Washington and London last month. The executive order signed by Trump on Tuesday evening will still raise import taxes for US firms buying from other countries……(Read More)