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Tag: falls

Market capitalization falls N857bn due to sell-offs
Business

Market capitalization falls N857bn due to sell-offs

The Nigerian Exchange’s market capitalization fell for the second time this year, losing N857 billion to close at N56,425 trillion due to sell-offs. The PUNCH reported that the All-Share Index fell 1.49 per cent on Tuesday, closing at 103,110.15 points. The first loss of the year happened in January 10,  with the market capitalization falling by […]

Bitcoin holder Micro Strategy loses $440K to hackers
Crypto

Bitcoin falls to $30K

Alex Omenye Despite the United State’s government endorsing Bitcoin Spot ETFs, the price of bitcoin fell precipitously in January. A striking contrast to the lofty trusts that the cryptocurrency sector had before the SEC made its decision. Bitcoin ETFs have sparked intensely optimistic estimates for the price of BTC and have been hailed as a […]

Bricklinks Africa's revenue falls by 9%
Business

Bricklinks Africa’s revenue falls by 9%

Internet Service Provider, Bricklinks Africa, has reported a 9.82 per cent revenue decline for the fiscal year ending December 2023. The PUNCH reported that according to the financial statements for the fiscal year ending December 31, 2023, filed with the Nigerian Exchange Limited on Monday, the ISP’s turnover decreased to N96.770m from N107.312m in 2022. During […]

Nigerian Exchange ahead in Africa with 33.70% gain
Business

Naira falls to 1300/$ at parallel market

The naira fell to N1,300/$ on the parallel market on Tuesday. As confirmed with the Bureau de Change operators, this comes after it closed trading on the Peer-to-Peer cryptocurrency window at N1,315.3/$1 for the day. An Abuja Bureau de Change operator in Zone 4, Magaji Muhammed, reported the rate climbed to N1,300/$ on Tuesday. He replied, […]

Nigerian Exchange ahead in Africa with 33.70% gain
Business

Naira falls at black market despite CBN’s FX backlog clearance

The value of the naira declined considerably on Tuesday on the P2P and physical black markets, notwithstanding the infusion of foreign exchange liquidity at the official market and the considerable clearing of foreign exchange backlogs by Nigeria’s top bank. The naira traded at around N1230/$ in the early hours of Tuesday on the P2P market, […]

Only four Nigeria states attract foreign investment in Q4 - Report
News

Foreign investment in manufacturing sector falls by 54% – NBS

The latest Capital Importation data from the National Bureau of Statistics shows that foreign investments in Nigeria’s manufacturing sector decreased by $326 million (54%) to $279.5 million in the third quarter of 2023 from $605 million in the second quarter. According to The PUNCH, the report’s further research, despite the large decline, the production sector […]

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