Author: Editor

Traders blame Naira’s fall on contractor payments, dollar diversion, weak supply, and inflation. Parallel market rate slipped to N1,560/$1 in mid-August, widening the gap with the official window. Speculation and hoarding fuel volatility, though CBN inflows and reserves offer some support. Currency traders have linked the recent depreciation of the naira at the parallel market to the supply challenges in the foreign exchange market and the huge demand for forex as a result of payments to contractors by the Federal Government agencies. They also cited diversion of forex, especially from diaspora remittances, as one of the major causes of distortion…

The Nigerian All-Share Index shed 671.81 points on Friday, August 15, 2025, closing at 144,628.20. This represents a 0.46% drop from Thursday’s 145,367.03 points and extends the market’s losing streak to a third consecutive day. Trading activity slowed sharply, with 1.37 billion shares changing hands, down from 2.4 billion shares the previous day. Market capitalization also reflected the bearish mood, slipping to N91.5 trillion from N92 trillion earlier in the week. On the gainers’ chart, Mutual Benefits Assurance (MBENEFIT) led with a 10% jump, followed closely by Ikeja Hotels (IKEJAHOTEL), which rose 9.95%. Conversely, the day’s biggest losers included Linkage…

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