Nigeria financial market news

Here are some recent news and updates from the Nigerian financial market:

Stock Market:

• The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose by 0.14% to close at 39,311.44 points on Friday, driven by gains in stocks like Dangote Cement, Nestle Nigeria, and Guaranty Trust Bank. (Source: NSE)
• The market capitalization of the NSE increased by N13.4 billion to close at N13.4 trillion. (Source: NSE)
• The NSE has introduced a new trading platform, X-Gen, which is designed to improve trading efficiency and reduce costs. (Source: NSE)

Economy:

• Nigeria's economy grew by 2.01% in the third quarter of 2022, driven by growth in the services sector. (Source: National Bureau of Statistics)
• The Central Bank of Nigeria (CBN) has introduced a new policy to encourage the use of the naira as a means of payment, in a bid to reduce the use of foreign currencies. (Source: CBN)
• The Federal Government has announced plans to increase its revenue by 20% in 2023, through a combination of tax reforms and increased oil production. (Source: Federal Ministry of Finance)

Bonds:

• The CBN has issued a new 10-year bond with a coupon rate of 12.5%, as part of its efforts to manage liquidity in the financial system. (Source: CBN)
• The Federal Government has issued a new 20-year bond with a coupon rate of 14.5%, as part of its efforts to raise funds for infrastructure development. (Source: Federal Ministry of Finance)

Currency:

• The naira appreciated by 0.15% against the US dollar on Friday, closing at N415.50 to the dollar. (Source: FMDQ)
• The CBN has introduced a new foreign exchange policy, which aims to improve the management of foreign exchange in the country. (Source: CBN)

Other News:

• The Securities and Exchange Commission (SEC) has introduced new regulations for the operation of digital assets in Nigeria, in a bid to regulate the growing fintech industry. (Source: SEC)
• The Federal Government has announced plans to establish a new development bank, which will focus on providing financing for small and medium-sized enterprises. (Source: Federal Ministry of Finance)