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Naira appreciates in NAFEX, parallel market.

Aug 02 2017
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Naira appreciates in NAFEX, parallel market.  Vanguard Online 

The naira yesterday appreciated significantly in the parallel market and in the Investors and Exporters (I&W) window.


At the close of business yesterday, the naira appreciated by N2 in the parallel market while it appreciated by N1.29 at the I&E window.


Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window dropped yesterday to N366.59 per dollar from N367.88 per dollar on Monday.  Read more


Investors urge market regulators to ensure transparency in post-demutualisation.  Guardian Online 

Capital market stakeholders, investors have urged the regulators to ensure that share allotment is done in a transparent manner to boost post demutualisation.


This comes as the legislative framework that will allow the Nigerian Stock Exchange (NSE) transform from an organisation limited by guarantee into a new one limited by shares has passed a second reading at the House of Representatives.


Demutualisation is the process through which any member owned organisation becomes a shareholder-owned company. Basically, it refers to the conversion of a non-profit, mutually owned company to a for-profit entity limited by shares. Demutualisation segregates ownership and management from the trading rights of the members of an exchange.  Read more

Last changed: Aug 02 2017 at 2:37 PM