Otedola expands stake in FirstHoldCo with additional N14.8bn share purchase
Nigerian billionaire investor, Femi Otedola, has increased his stake in FirstHoldCo Plc following an additional share purchase valued at ₦14.8 billion. The move further strengthens his position as one of the most influential shareholders in the financial holding company, which oversees First Bank of Nigeria and other subsidiaries. Market filings show that the latest transaction […]
FMDQ Faces 67% Trading Volume Loss As CBN Shifts To Internal Platform
The FMDQ Securities Exchange has recorded a sharp 67% drop in trading volumes after the Central Bank of Nigeria (CBN) redirected most of its foreign exchange transactions to its own internal platform. This shift has significantly reduced activity on FMDQ, raising concerns among market operators about transparency and liquidity. Analysts argue that the move by […]
The Central Bank of Nigeria sold $122.671 million to 46 authorized dealers to stabilize the foreign exchange market.
The Central Bank of Nigeria (CBN) has executed a sale of $122.671 million to 46 authorized dealers aimed at enhancing stability and reducing volatility in the foreign exchange market. Dr. Omolara Duke, Director of Financial Markets at the CBN, reported that $67.5 million was allocated to 27 dealers, with an additional $55.171 million disbursed to […]