Month: May 2020

NSE opens week positive with N36bn gain

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    The equities market closed yesterday on a positive note to commence weekly trading activities on the upswing after the market also closed green last Friday.   The market performance indices, NSE ASI, appreciated by 0.30 per cent with market breadth closing negative with 15 gainers as against 19 losers.   The upswing, according to market watchers, was driven by bargain hunting activities on the back of undervalued stocks following renewed appetite in anticipation of share appreciation.   Consequently, the All-Share Index grew by 68. 85 basis points or…

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Lockdown: FirstBank commends customers’ support

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    FirstBank Nigeria Ltd has expressed its appreciation to the public – especially its customers – for their continued patronage of its services during the coronavirus ( COVID -19) lockdown.   This is even as the lender has assured the public that stringent measures have been implemented to ensure its branches and locations across the country operate in line with the health and safety guidelines issued by the Nigeria Centre for Disease Control (NCDC to mitigate the spread of Coronavirus.   Expressing the bank’s delight at welcoming customers to…

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Forex: Naira sustains recovery against dollar  

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    The naira yesterday continued its recovery against the dollar on the parallel market after slumping to N460 to the greenback about two weeks ago.   As the Federal Government’s partial lifting of the COVID-19 lockdown in Lagos State, the Federal Capital Territory (FCT) Abuja commenced on Monday, the naira further appreciated to N430/$1 from N450 per dollar last Friday.   Analysts attribute the local currency’s recovery to the International Monetary Fund’s (IMF) approval of Nigeria’s $3.4billion loan request, as well as the Central Bank of Nigeria’s (CBN) announcement…

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