Tue Sep 27, 2016/Reuters Lawmakers in the upper house of Nigeria’s parliament agreed on Tuesday to investigate an allegation that South Africa’s MTN, Africa’s biggest telecoms company, illegally transferred $13.92 billion out of the West African country. MTN declined to comment on the decision of the Senate in Nigeria which, […]
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Bears Resurface on Nigerian Bourse, as Benchmark Index Decline
By InvestAdvocate Lagos (INVESTADVOCATE)-The bears on Tuesday resurfaced on the Nigerian bourse as benchmark index declined by 0.05 percent to close at 28,248.86 points. “Today’s negative performance trimmed the Month-to-Date gain to 2.35 percent and increased the Year-to-Date loss to1.37 percent,” according to Cordros daily market update. The update affirmed […]
Naira Hits New Historic Low; Plunges to 450/$ as Acute Shortage Hit Hard
By InvestAdvocate Lagos (INVESTADVOCATE)- The naira on Tuesday hit a new historic low as it tumbled to 450 against the United States dollar at the parallel market on Tuesday, down from the 445 recorded on Monday, analysts at Cordros Capital said. The depreciation of the nation’s local currency continued in […]
