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  •  The following are the dollar to naira exchange rate in Lagos Nigeria today It also includes the Naira Back Market rates Bureau De Change BDC rate and Central Bank of Nigeria CBN rates nbsp https youtu be t6yY3O lLVY Dollars to Naira The following are the dollar to naira current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying United States dollars USD at the parallel unofficial market Dollars to Naira USD to NGN Exchange Rate Today Buying Rate 770 Selling Rate 775 nbsp gggggg nbsp Pounds to Naira The following are the current pounds to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Great Britain Pound Sterling at the parallel unofficial market Pounds to Naira GBP to NGN Exchange Rate Today Buying Rate 910 Selling Rate 920 nbsp gggggg nbsp Euro to Naira The following are the current Euro to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Euros at the parallel unofficial market Euro to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 760 Selling Rate 770 nbsp gggggg Canadian Dollar to Naira The following are the current CAD to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Canadian Dollars at the parallel unofficial market Canadian Dollar to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 540 Selling Rate 560 nbsp gggggg Rand to Naira The following are the current Rand to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Rand to Naira at the parallel unofficial market Rand to Naira ZAR to NGN Black Market Exchange Rate Today Buying Rate 31 Selling Rate 38 nbsp gggggg Dirham to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Dirham to Naira at the parallel unofficial market Dirham to Naira AED to NGN Black Market Exchange Rate Today Buying Rate 155 Selling Rate 165 nbsp gggggg nbsp Yuan to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Yuan to Naira at the parallel unofficial market Yuan to Naira CNY to NGN Black Market Exchange Rate Today Buying Rate 80 Selling Rate 90 nbsp gggggg nbsp Ghanaian Cedi to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Ghanaian Cedi to Naira at the parallel unofficial market Cedi to Naira GHS to NGN Black Market Exchange Rate Today Buying Rate 65 Selling Rate 75 nbsp gggggg West African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying West African CFA franc to Naira at the parallel unofficial market Dirham to Naira XOF to NGN Black Market Exchange Rate Today Buying Rate 945 Selling Rate 965 nbsp nbsp Central African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel unofficial market CFA to Naira XAF to NGN Black Market Exchange Rate Today Buying Rate 900 Selling Rate 920 nbsp CBN Official Naira Exchange Rates The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria CBN Currency Exchange Rate where forex is official Date Currency Buying NGN Central NGN Selling NGN 11 22 2022 US DOLLAR 442 76 443 26 443 76 11 22 2022 POUNDS STERLING 525 7775 526 3713 526 965 11 22 2022 EURO 454 5374 455 0507 455 564 11 22 2022 SWISS FRANC 463 6716 464 1952 464 7188 11 22 2022 YEN 3 1359 3 1395 3 143 11 22 2022 CFA 0 6719 0 6819 0 6919 11 22 2022 WAUA 576 3837 577 0346 577 6855 11 22 2022 YUAN RENMINBI 62 0103 62 0808 62 1513 11 22 2022 RIYAL 117 8023 117 9353 118 0684 11 22 2022 SOUTH AFRICAN RAND 25 6548 25 6837 25 7127 11 22 2022 DANISH KRONA 61 0998 61 1688 61 2378 11 22 2022 SDR 577 4033 578 0554 578 7074 11 21 2022 US DOLLAR 442 63 443 13 443 63 11 21 2022 POUNDS STERLING 522 6132 523 2036 523 7939 11 21 2022 EURO 453 4744 453 9867 454 4989 11 21 2022 SWISS FRANC 461 9391 462 4609 462 9827 11 21 2022 YEN 3 1171 3 1206 3 1242 11 21 2022 CFA 0 6795 0 6895 0 6995 11 21 2022 WAUA 579 6684 580 3232 580 978 11 21 2022 YUAN RENMINBI 61 7594 61 8296 61 8998 11 21 2022 RIYAL 117 7646 117 8976 118 0306 11 21 2022 SOUTH AFRICAN RAND 25 4593 25 488 25 5168 11 21 2022 DANISH KRONA 60 954 61 0229 61 0918 11 21 2022 SDR 580 9519 581 6081 582 2644 11 18 2022 US DOLLAR 442 49 442 99 443 49 Date Currency Buying NGN Central NGN Selling NGN nbsp Click here for more of the CBN Naira Exchange rate historical data nbsp GTBank Naira Exchange Rates Bank Currency Rate Date GTBank USD to Naira 490 16 10 2022 nbsp First Bank Naira Exchange Rates Currency Rate Date GBP 706 05 09 2022 EUR 602 18 07 2022 CAD 466 18 07 2022 USD 500 04 07 2022 INR 5 80 01 05 2021 RUB 6 20 01 05 2021 nbsp Access Bank Naira Exchange Rates Currency Rate Date USD To Naira 505 30 04 2022 EUR To Naira 531 31 08 2021 GBP To Naira 621 28 08 2021 CAD To Naira 357 18 08 2021 ZAR To Naira 31 18 08 2021 INR To Naira 6 18 08 2021 TRY To Naira 52 18 08 2021 AUD To Naira 299 01 05 2021 RUB To Naira 7 10 01 05 2021 SGD To Naira 268 01 05 2021 AED To Naira 109 26 11 2020 XOF To Naira 800 15 08 2020 nbsp UBA Naira Exchange Rates Currency Rate Date INR To Naira 6 12 15 10 2022 USD To Naira 503 29 04 2022 EUR To Naira 566 31 08 2021 GBP To Naira 622 23 07 2021 CAD To Naira 316 01 05 2021 AED To Naira 119 08 08 2020 nbsp Ecobank Naira Exchange Rates Currency Rate Date USD To Naira 480 23 03 2022 GBP To Naira 621 23 07 2021 EUR To Naira 499 45 16 06 2021 AED To Naira 107 15 08 2020 CAD To Naira 299 30 06 2020 INR To Naira 5 9 25 06 2020 nbsp Stanbic Bank Naira Exchange Rates Currency Rate Date USD To Naira 475 21 01 2022 EUR To Naira 543 22 07 2021 GBP To Naira 646 03 06 2021 CAD To Naira 337 01 05 2021 TRY To Naira 69 01 05 2021 nbsp nbsp Convert US Dollar to Nigerian Naira 1 USD Dollar is 442 134 NGN USD NGN 1 USD 442 134 NGN 5 USD 2 210 67 NGN 10 USD 4 421 34 NGN 25 USD 11 053 4 NGN 50 USD 22 106 7 NGN 100 USD 44 213 4 NGN 500 USD 221 067 NGN 1 000 USD 442 134 NGN 5 000 USD 2 210 670 NGN 10 000 USD 4 421 340 NGN 50 000 USD 22 106 700 NGN nbsp Convert Nigerian Naira to US Dollar NGN USD 1 NGN 0 00226176 USD 5 NGN 0 0113088 USD 10 NGN 0 0226176 USD 25 NGN 0 0565439 USD 50 NGN 0 113088 USD 100 NGN 0 226176 USD 500 NGN 1 13088 USD 1 000 NGN 2 26176 USD 5 000 NGN 11 3088 USD 10 000 NGN 22 6176 USD 50 000 NGN 113 088 USD nbsp 1 US Dollar to Nigerian Naira stats Last 30 Days Last 90 Days High 442 67 442 67 Low 436 36 420 31 Average 439 32 432 43 Volatility 0 10 0 10 nbsp The following are the euro to dollar exchange rates today It also includes the euro to pounds exchange rates euro to yen exchange rates and euro to naira exchange rates among others nbsp Convert Euro to US Dollar EUR USD 1 EUR 1 04179 USD 5 EUR 5 20895 USD 10 EUR 10 4179 USD 25 EUR 26 0447 USD 50 EUR 52 0895 USD 100 EUR 104 179 USD 500 EUR 520 895 USD 1 000 EUR 1 041 79 USD 5 000 EUR 5 208 95 USD 10 000 EUR 10 417 9 USD 50 000 EUR 52 089 5 USD nbsp Convert US Dollar to Euro The following is the current United States Dollar USD conversion to Euro USD EUR 1 USD 0 959887 EUR 5 USD 4 79943 EUR 10 USD 9 59887 EUR 25 USD 23 9972 EUR 50 USD 47 9943 EUR 100 USD 95 9887 EUR 500 USD 479 943 EUR 1 000 USD 959 887 EUR 5 000 USD 4 799 43 EUR 10 000 USD 9 598 87 EUR 50 000 USD 47 994 3 EUR nbsp 1 Euro to US Dollar stats Last 30 Days Last 90 Days High 1 0395 1 0395 Low 0 97498 0 95960 Average 1 0104 0 99545 Volatility 0 81 0 70 Convert US Dollar to Euro USD EUR 10 USD 9 75844 EUR 25 USD 24 3961 EUR 50 USD 48 7922 EUR 100 USD 97 5844 EUR nbsp nbsp nbsp FAQ Q What is the Dollar worth against the Nigerian Naira A One Dollar is worth 442 655 Nigerian Naira today nbsp Q Is the Dollar going up or down against the Nigerian Naira A Today s exchange rate 442 655 is lower compared to yesterday s rate 442 8151 nbsp Q What are 50 Dollars in Nigerian Naira A 50 Dollars buys 22132 75 Nigerian Naira at interbank exchange rates nbsp Q How much is 100 US in euro A 100 USD is currently equal to 97 5844 EUR Aboki FX The Central Bank of Nigeria CBN has said it is investigating Oniwinde Adedotun the founder of abokiFX Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014 On Thursday 16th of September 2021 abokiFX reported that the naira was trading at 570 to the dollar at the parallel market An insider familiar with the events said that unusual forex transactions were found in his account suggesting the promoters of the platform have been involved in illegal forex trading The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX vetting every forex transaction from 2019 to 2021 Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation but another source within the bank said he could not confirm the rumors There would be a lot more clarity after the next monetary policy committee MPC meeting tomorrow the source said AbokiFX registered in Arizona United States is the 63rd most visited website in Nigeria as of September 16 2021 nbsp nbsp World Currencies Flag Code Currency name Country AED United Arab Emirates Dirham UAE AFN Afghan Afghani Afghanistan ALL Albanian Lek Albania AMD Armenian Dram Armenia ANG Netherlands Antillean Guilder Netherlands Antilles AOA Angolan Kwanza Angola ARS Argentine Peso Argentina AUD Australian Dollar Australia AWG Aruban Florin Aruba AZN Azerbaijanian Manat Azerbaijan BAM Convertible Mark Bosnia and Herzegovina BBD Barbados Dollar Barbados BDT Bangladeshi Taka Bangladesh BGN Bulgarian Lev Bulgaria BHD Bahraini Dinar Bahrain BIF Burundi Franc Burundi BMD Bermudian Dollar Bermuda BND Brunei Dollar Brunei Darussalam BOB Boliviano Plurinational State of Bolivia BRL Brazilian Real Brazil BSD Bahamian Dollar The Bahamas BTC Bitcoin Crypto currency BTN Bhutanese Ngultrum Bhutan BWP Botswana Pula Botswana BYN Belarussian Ruble Belarus BZD Belize Dollar Belize CAD Canadian Dollar Canada CDF Congolese Franc DR Congo CHF Swiss Franc Switzerland CLP Chilean Peso Chile CNY Chinese Yuan China COP Colombian Peso Colombia CRC Costa Rican Colon Costa Rica CUP Cuban Peso Cuba CVE Cabo Verde Escudo Cape Verde CZK Czech Koruna Czech Republic DJF Djibouti Franc Djibouti DKK Danish Krone Denmark DOP Dominican Peso Dominican Republic DZD Algerian Dinar Algeria EGP Egyptian Pound Egypt ERN Eritrean Nakfa Eritrea ETB Ethiopian Birr Ethiopia EUR Euro European Union FJD Fiji Dollar Fiji FKP Falkland Islands Pound Falkland Islands GBP British Pound United Kingdom GEL Georgian Lari Georgia GGP Guernsey Pound Guernsey GHS Ghana Cedi Ghana GIP Gibraltar Pound Gibraltar GMD Gambian Dalasi The Gambia GNF Guinea Franc Guinea GTQ Guatemalan Quetzal Guatemala GYD Guyana Dollar Guyana HKD Hong Kong Dollar Hong Kong HNL Honduran Lempira Honduras HRK Croatian Kuna Croatia HTG Haitian Gourde Haiti HUF Hungarian Forint Hungary IDR Indonesian Rupiah Indonesia ILS Israeli Shekel Israel INR Indian Rupee India IQD Iraqi Dinar Iraq IRR Iranian Rial Iran ISK Iceland Krona Iceland JEP Jersey Pound Jersey JMD Jamaican Dollar Jamaica JOD Jordanian Dinar Jordan JPY Japanese Yen Japan KES Kenyan Shilling Kenya KGS Kyrgyzstani Som Kyrgyzstan KHR Cambodian Riel Cambodia KMF Comoro Franc Comoros KPW North Korean Won North Korea KRW South Korean Won South Korea KWD Kuwaiti Dinar Kuwait KYD Cayman Islands Dollar The Cayman Islands KZT Kazakhstani Tenge Kazakhstan Flag Code Currency name Country LAK Lao Kip Laos LBP Lebanese Pound Lebanon LKR Sri Lanka Rupee Sri Lanka LRD Liberian Dollar Liberia LSL Lesotho Loti Lesotho LYD Libyan Dinar Libya MAD Moroccan Dirham Morocco MDL Moldovan Leu Moldova MGA Malagasy Ariary Madagascar MKD Macedonian Denar Macedonia MMK Myanmar Kyat Myanmar MNT Mongolian Tugrik Mongolia MOP Macanese Pataca Macao MRO Mauritanian Ouguiya Mauritania MUR Mauritius Rupee Mauritius MVR Maldivian Rufiyaa Maldives MWK Malawian Kwacha Malawi MXN Mexican Peso Mexico MYR Malaysian Ringgit Malaysia MZN Mozambique Metical Mozambique NAD Namibia Dollar Namibia NGN Nigerian Naira Nigeria NIO Cordoba Oro Nicaragua NOK Norwegian Krone Norway NPR Nepalese Rupee Nepal NZD New Zealand Dollar New Zealand OMR Rial Omani Oman PAB Panamanian Balboa Panama PEN Peruvian Sol Peru PGK Papua New Guinean Kina Papua New Guinea PHP Philippine Peso Philippines PKR Pakistani Rupee Pakistan PLN Polish Zloty Poland PYG Paraguayan Guarani Paraguay QAR Qatari Rial Qatar RON Romanian Leu Romania RSD Serbian Dinar Serbia RUB Russian Ruble Russia RWF Rwanda Franc Rwanda SAR Saudi Riyal Saudi Arabia SBD Solomon Islands Dollar Solomon Islands SCR Seychelles Rupee Seychelles SDG Sudanese Pound The Sudan SEK Swedish Krona Sweden SGD Singapore Dollar Singapore SHP Saint Helena Pound Saint Helena Ascension And Tristan Da Cunha SLL Sierra Leonean Leone Sierra Leone SOS Somali Shilling Somalia SRD Surinam Dollar Suriname STD Sao Tomean Dobra Sao Tome And Principe SVC El Salvador Colon El Salvador SYP Syrian Pound Syrian Arab Republic SZL Swazi Lilangeni Swaziland THB Thai Baht Thailand TJS Tajikistani Somoni Tajikistan TMT Turkmenistan New Manat Turkmenistan TND Tunisian Dinar Tunisia TOP Tongan Pa anga Tonga TRY Turkish Lira Turkey TTD Trinidad and Tobago Dollar Trinidad And Tobago TWD New Taiwan Dollar Taiwan TZS Tanzanian Shilling Tanzania UAH Ukrainian Hryvnia Ukraine UGX Uganda Shilling Uganda USD United States Dollar USA UYU Peso Uruguayo Uruguay UZS Uzbekistan Sum Uzbekistan VEF Venezuelan Bolivar Venezuela VND Vietnamese Dong Vietnam VUV Vanuatu Vatu Vanuatu WST Samoan Tala Samoa XAF CFA Franc BEAC Bank of Central African States XCD East Caribbean Dollar Organisation of Eastern Caribbean States XOF CFA Franc BCEAO Central Bank of West African States XPF CFP Franc IEOM YER Yemeni Rial Yemen ZAR South African Rand Republic of South Africa ZMW Zambian Kwacha Zambia ZWL Zimbabwean Dollar Zimbabwe DIsclaimer This article does not set or determine forex rates The official NAFEX rates are obtained from the website of the FMDQOTC Parallel market rates black market rates are obtained from various sources including online media outlets The rates you buy or sell forex may be different from what is captured in this article Last Updated on 2022 11 26 23 40 02
    Naira Black Market Exchange Rate Today
     The following are the dollar to naira exchange rate in Lagos Nigeria today It also includes the Naira Back Market rates Bureau De Change BDC rate and Central Bank of Nigeria CBN rates nbsp https youtu be t6yY3O lLVY Dollars to Naira The following are the dollar to naira current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying United States dollars USD at the parallel unofficial market Dollars to Naira USD to NGN Exchange Rate Today Buying Rate 770 Selling Rate 775 nbsp gggggg nbsp Pounds to Naira The following are the current pounds to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Great Britain Pound Sterling at the parallel unofficial market Pounds to Naira GBP to NGN Exchange Rate Today Buying Rate 910 Selling Rate 920 nbsp gggggg nbsp Euro to Naira The following are the current Euro to naira black market rates today of Bureau De Change BDC operators in Lagos for selling and buying Euros at the parallel unofficial market Euro to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 760 Selling Rate 770 nbsp gggggg Canadian Dollar to Naira The following are the current CAD to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Canadian Dollars at the parallel unofficial market Canadian Dollar to Naira CAD to NGN Black Market Exchange Rate Today Buying Rate 540 Selling Rate 560 nbsp gggggg Rand to Naira The following are the current Rand to naira black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Rand to Naira at the parallel unofficial market Rand to Naira ZAR to NGN Black Market Exchange Rate Today Buying Rate 31 Selling Rate 38 nbsp gggggg Dirham to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Dirham to Naira at the parallel unofficial market Dirham to Naira AED to NGN Black Market Exchange Rate Today Buying Rate 155 Selling Rate 165 nbsp gggggg nbsp Yuan to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Yuan to Naira at the parallel unofficial market Yuan to Naira CNY to NGN Black Market Exchange Rate Today Buying Rate 80 Selling Rate 90 nbsp gggggg nbsp Ghanaian Cedi to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Ghanaian Cedi to Naira at the parallel unofficial market Cedi to Naira GHS to NGN Black Market Exchange Rate Today Buying Rate 65 Selling Rate 75 nbsp gggggg West African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying West African CFA franc to Naira at the parallel unofficial market Dirham to Naira XOF to NGN Black Market Exchange Rate Today Buying Rate 945 Selling Rate 965 nbsp nbsp Central African CFA franc to Naira The following are the current black market rate today of Bureau De Change BDC operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel unofficial market CFA to Naira XAF to NGN Black Market Exchange Rate Today Buying Rate 900 Selling Rate 920 nbsp CBN Official Naira Exchange Rates The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria CBN Currency Exchange Rate where forex is official Date Currency Buying NGN Central NGN Selling NGN 11 22 2022 US DOLLAR 442 76 443 26 443 76 11 22 2022 POUNDS STERLING 525 7775 526 3713 526 965 11 22 2022 EURO 454 5374 455 0507 455 564 11 22 2022 SWISS FRANC 463 6716 464 1952 464 7188 11 22 2022 YEN 3 1359 3 1395 3 143 11 22 2022 CFA 0 6719 0 6819 0 6919 11 22 2022 WAUA 576 3837 577 0346 577 6855 11 22 2022 YUAN RENMINBI 62 0103 62 0808 62 1513 11 22 2022 RIYAL 117 8023 117 9353 118 0684 11 22 2022 SOUTH AFRICAN RAND 25 6548 25 6837 25 7127 11 22 2022 DANISH KRONA 61 0998 61 1688 61 2378 11 22 2022 SDR 577 4033 578 0554 578 7074 11 21 2022 US DOLLAR 442 63 443 13 443 63 11 21 2022 POUNDS STERLING 522 6132 523 2036 523 7939 11 21 2022 EURO 453 4744 453 9867 454 4989 11 21 2022 SWISS FRANC 461 9391 462 4609 462 9827 11 21 2022 YEN 3 1171 3 1206 3 1242 11 21 2022 CFA 0 6795 0 6895 0 6995 11 21 2022 WAUA 579 6684 580 3232 580 978 11 21 2022 YUAN RENMINBI 61 7594 61 8296 61 8998 11 21 2022 RIYAL 117 7646 117 8976 118 0306 11 21 2022 SOUTH AFRICAN RAND 25 4593 25 488 25 5168 11 21 2022 DANISH KRONA 60 954 61 0229 61 0918 11 21 2022 SDR 580 9519 581 6081 582 2644 11 18 2022 US DOLLAR 442 49 442 99 443 49 Date Currency Buying NGN Central NGN Selling NGN nbsp Click here for more of the CBN Naira Exchange rate historical data nbsp GTBank Naira Exchange Rates Bank Currency Rate Date GTBank USD to Naira 490 16 10 2022 nbsp First Bank Naira Exchange Rates Currency Rate Date GBP 706 05 09 2022 EUR 602 18 07 2022 CAD 466 18 07 2022 USD 500 04 07 2022 INR 5 80 01 05 2021 RUB 6 20 01 05 2021 nbsp Access Bank Naira Exchange Rates Currency Rate Date USD To Naira 505 30 04 2022 EUR To Naira 531 31 08 2021 GBP To Naira 621 28 08 2021 CAD To Naira 357 18 08 2021 ZAR To Naira 31 18 08 2021 INR To Naira 6 18 08 2021 TRY To Naira 52 18 08 2021 AUD To Naira 299 01 05 2021 RUB To Naira 7 10 01 05 2021 SGD To Naira 268 01 05 2021 AED To Naira 109 26 11 2020 XOF To Naira 800 15 08 2020 nbsp UBA Naira Exchange Rates Currency Rate Date INR To Naira 6 12 15 10 2022 USD To Naira 503 29 04 2022 EUR To Naira 566 31 08 2021 GBP To Naira 622 23 07 2021 CAD To Naira 316 01 05 2021 AED To Naira 119 08 08 2020 nbsp Ecobank Naira Exchange Rates Currency Rate Date USD To Naira 480 23 03 2022 GBP To Naira 621 23 07 2021 EUR To Naira 499 45 16 06 2021 AED To Naira 107 15 08 2020 CAD To Naira 299 30 06 2020 INR To Naira 5 9 25 06 2020 nbsp Stanbic Bank Naira Exchange Rates Currency Rate Date USD To Naira 475 21 01 2022 EUR To Naira 543 22 07 2021 GBP To Naira 646 03 06 2021 CAD To Naira 337 01 05 2021 TRY To Naira 69 01 05 2021 nbsp nbsp Convert US Dollar to Nigerian Naira 1 USD Dollar is 442 134 NGN USD NGN 1 USD 442 134 NGN 5 USD 2 210 67 NGN 10 USD 4 421 34 NGN 25 USD 11 053 4 NGN 50 USD 22 106 7 NGN 100 USD 44 213 4 NGN 500 USD 221 067 NGN 1 000 USD 442 134 NGN 5 000 USD 2 210 670 NGN 10 000 USD 4 421 340 NGN 50 000 USD 22 106 700 NGN nbsp Convert Nigerian Naira to US Dollar NGN USD 1 NGN 0 00226176 USD 5 NGN 0 0113088 USD 10 NGN 0 0226176 USD 25 NGN 0 0565439 USD 50 NGN 0 113088 USD 100 NGN 0 226176 USD 500 NGN 1 13088 USD 1 000 NGN 2 26176 USD 5 000 NGN 11 3088 USD 10 000 NGN 22 6176 USD 50 000 NGN 113 088 USD nbsp 1 US Dollar to Nigerian Naira stats Last 30 Days Last 90 Days High 442 67 442 67 Low 436 36 420 31 Average 439 32 432 43 Volatility 0 10 0 10 nbsp The following are the euro to dollar exchange rates today It also includes the euro to pounds exchange rates euro to yen exchange rates and euro to naira exchange rates among others nbsp Convert Euro to US Dollar EUR USD 1 EUR 1 04179 USD 5 EUR 5 20895 USD 10 EUR 10 4179 USD 25 EUR 26 0447 USD 50 EUR 52 0895 USD 100 EUR 104 179 USD 500 EUR 520 895 USD 1 000 EUR 1 041 79 USD 5 000 EUR 5 208 95 USD 10 000 EUR 10 417 9 USD 50 000 EUR 52 089 5 USD nbsp Convert US Dollar to Euro The following is the current United States Dollar USD conversion to Euro USD EUR 1 USD 0 959887 EUR 5 USD 4 79943 EUR 10 USD 9 59887 EUR 25 USD 23 9972 EUR 50 USD 47 9943 EUR 100 USD 95 9887 EUR 500 USD 479 943 EUR 1 000 USD 959 887 EUR 5 000 USD 4 799 43 EUR 10 000 USD 9 598 87 EUR 50 000 USD 47 994 3 EUR nbsp 1 Euro to US Dollar stats Last 30 Days Last 90 Days High 1 0395 1 0395 Low 0 97498 0 95960 Average 1 0104 0 99545 Volatility 0 81 0 70 Convert US Dollar to Euro USD EUR 10 USD 9 75844 EUR 25 USD 24 3961 EUR 50 USD 48 7922 EUR 100 USD 97 5844 EUR nbsp nbsp nbsp FAQ Q What is the Dollar worth against the Nigerian Naira A One Dollar is worth 442 655 Nigerian Naira today nbsp Q Is the Dollar going up or down against the Nigerian Naira A Today s exchange rate 442 655 is lower compared to yesterday s rate 442 8151 nbsp Q What are 50 Dollars in Nigerian Naira A 50 Dollars buys 22132 75 Nigerian Naira at interbank exchange rates nbsp Q How much is 100 US in euro A 100 USD is currently equal to 97 5844 EUR Aboki FX The Central Bank of Nigeria CBN has said it is investigating Oniwinde Adedotun the founder of abokiFX Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for illegal foreign exchange transactions AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014 On Thursday 16th of September 2021 abokiFX reported that the naira was trading at 570 to the dollar at the parallel market An insider familiar with the events said that unusual forex transactions were found in his account suggesting the promoters of the platform have been involved in illegal forex trading The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX vetting every forex transaction from 2019 to 2021 Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation but another source within the bank said he could not confirm the rumors There would be a lot more clarity after the next monetary policy committee MPC meeting tomorrow the source said AbokiFX registered in Arizona United States is the 63rd most visited website in Nigeria as of September 16 2021 nbsp nbsp World Currencies Flag Code Currency name Country AED United Arab Emirates Dirham UAE AFN Afghan Afghani Afghanistan ALL Albanian Lek Albania AMD Armenian Dram Armenia ANG Netherlands Antillean Guilder Netherlands Antilles AOA Angolan Kwanza Angola ARS Argentine Peso Argentina AUD Australian Dollar Australia AWG Aruban Florin Aruba AZN Azerbaijanian Manat Azerbaijan BAM Convertible Mark Bosnia and Herzegovina BBD Barbados Dollar Barbados BDT Bangladeshi Taka Bangladesh BGN Bulgarian Lev Bulgaria BHD Bahraini Dinar Bahrain BIF Burundi Franc Burundi BMD Bermudian Dollar Bermuda BND Brunei Dollar Brunei Darussalam BOB Boliviano Plurinational State of Bolivia BRL Brazilian Real Brazil BSD Bahamian Dollar The Bahamas BTC Bitcoin Crypto currency BTN Bhutanese Ngultrum Bhutan BWP Botswana Pula Botswana BYN Belarussian Ruble Belarus BZD Belize Dollar Belize CAD Canadian Dollar Canada CDF Congolese Franc DR Congo CHF Swiss Franc Switzerland CLP Chilean Peso Chile CNY Chinese Yuan China COP Colombian Peso Colombia CRC Costa Rican Colon Costa Rica CUP Cuban Peso Cuba CVE Cabo Verde Escudo Cape Verde CZK Czech Koruna Czech Republic DJF Djibouti Franc Djibouti DKK Danish Krone Denmark DOP Dominican Peso Dominican Republic DZD Algerian Dinar Algeria EGP Egyptian Pound Egypt ERN Eritrean Nakfa Eritrea ETB Ethiopian Birr Ethiopia EUR Euro European Union FJD Fiji Dollar Fiji FKP Falkland Islands Pound Falkland Islands GBP British Pound United Kingdom GEL Georgian Lari Georgia GGP Guernsey Pound Guernsey GHS Ghana Cedi Ghana GIP Gibraltar Pound Gibraltar GMD Gambian Dalasi The Gambia GNF Guinea Franc Guinea GTQ Guatemalan Quetzal Guatemala GYD Guyana Dollar Guyana HKD Hong Kong Dollar Hong Kong HNL Honduran Lempira Honduras HRK Croatian Kuna Croatia HTG Haitian Gourde Haiti HUF Hungarian Forint Hungary IDR Indonesian Rupiah Indonesia ILS Israeli Shekel Israel INR Indian Rupee India IQD Iraqi Dinar Iraq IRR Iranian Rial Iran ISK Iceland Krona Iceland JEP Jersey Pound Jersey JMD Jamaican Dollar Jamaica JOD Jordanian Dinar Jordan JPY Japanese Yen Japan KES Kenyan Shilling Kenya KGS Kyrgyzstani Som Kyrgyzstan KHR Cambodian Riel Cambodia KMF Comoro Franc Comoros KPW North Korean Won North Korea KRW South Korean Won South Korea KWD Kuwaiti Dinar Kuwait KYD Cayman Islands Dollar The Cayman Islands KZT Kazakhstani Tenge Kazakhstan Flag Code Currency name Country LAK Lao Kip Laos LBP Lebanese Pound Lebanon LKR Sri Lanka Rupee Sri Lanka LRD Liberian Dollar Liberia LSL Lesotho Loti Lesotho LYD Libyan Dinar Libya MAD Moroccan Dirham Morocco MDL Moldovan Leu Moldova MGA Malagasy Ariary Madagascar MKD Macedonian Denar Macedonia MMK Myanmar Kyat Myanmar MNT Mongolian Tugrik Mongolia MOP Macanese Pataca Macao MRO Mauritanian Ouguiya Mauritania MUR Mauritius Rupee Mauritius MVR Maldivian Rufiyaa Maldives MWK Malawian Kwacha Malawi MXN Mexican Peso Mexico MYR Malaysian Ringgit Malaysia MZN Mozambique Metical Mozambique NAD Namibia Dollar Namibia NGN Nigerian Naira Nigeria NIO Cordoba Oro Nicaragua NOK Norwegian Krone Norway NPR Nepalese Rupee Nepal NZD New Zealand Dollar New Zealand OMR Rial Omani Oman PAB Panamanian Balboa Panama PEN Peruvian Sol Peru PGK Papua New Guinean Kina Papua New Guinea PHP Philippine Peso Philippines PKR Pakistani Rupee Pakistan PLN Polish Zloty Poland PYG Paraguayan Guarani Paraguay QAR Qatari Rial Qatar RON Romanian Leu Romania RSD Serbian Dinar Serbia RUB Russian Ruble Russia RWF Rwanda Franc Rwanda SAR Saudi Riyal Saudi Arabia SBD Solomon Islands Dollar Solomon Islands SCR Seychelles Rupee Seychelles SDG Sudanese Pound The Sudan SEK Swedish Krona Sweden SGD Singapore Dollar Singapore SHP Saint Helena Pound Saint Helena Ascension And Tristan Da Cunha SLL Sierra Leonean Leone Sierra Leone SOS Somali Shilling Somalia SRD Surinam Dollar Suriname STD Sao Tomean Dobra Sao Tome And Principe SVC El Salvador Colon El Salvador SYP Syrian Pound Syrian Arab Republic SZL Swazi Lilangeni Swaziland THB Thai Baht Thailand TJS Tajikistani Somoni Tajikistan TMT Turkmenistan New Manat Turkmenistan TND Tunisian Dinar Tunisia TOP Tongan Pa anga Tonga TRY Turkish Lira Turkey TTD Trinidad and Tobago Dollar Trinidad And Tobago TWD New Taiwan Dollar Taiwan TZS Tanzanian Shilling Tanzania UAH Ukrainian Hryvnia Ukraine UGX Uganda Shilling Uganda USD United States Dollar USA UYU Peso Uruguayo Uruguay UZS Uzbekistan Sum Uzbekistan VEF Venezuelan Bolivar Venezuela VND Vietnamese Dong Vietnam VUV Vanuatu Vatu Vanuatu WST Samoan Tala Samoa XAF CFA Franc BEAC Bank of Central African States XCD East Caribbean Dollar Organisation of Eastern Caribbean States XOF CFA Franc BCEAO Central Bank of West African States XPF CFP Franc IEOM YER Yemeni Rial Yemen ZAR South African Rand Republic of South Africa ZMW Zambian Kwacha Zambia ZWL Zimbabwean Dollar Zimbabwe DIsclaimer This article does not set or determine forex rates The official NAFEX rates are obtained from the website of the FMDQOTC Parallel market rates black market rates are obtained from various sources including online media outlets The rates you buy or sell forex may be different from what is captured in this article Last Updated on 2022 11 26 23 40 02
    Naira Black Market Exchange Rate Today
    Sticky Post6 hours ago

    Naira Black Market Exchange Rate Today

    The following are the dollar to naira exchange rate in Lagos Nigeria today. It also includes the Naira Back Market rates, Bureau De Change (BDC) rate, and Central Bank of Nigeria (CBN) rates. https://youtu.be/t6yY3O-lLVY

    Dollars to Naira

    The following are the dollar to naira current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying United States dollars (USD) at the parallel (unofficial) market.
    Dollars to Naira (USD to NGN)Exchange Rate Today
    Buying Rate₦770
    Selling Rate₦775
     gggggg 

    Pounds to Naira

    The following are the current pounds to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Great Britain Pound Sterling at the parallel (unofficial) market.
    Pounds to Naira (GBP to NGN)Exchange Rate Today
    Buying Rate₦910
    Selling Rate₦920
     gggggg 

    Euro to Naira

    The following are the current Euro to naira black market rates today of Bureau De Change (BDC) operators in Lagos for selling and buying Euros at the parallel (unofficial) market.
    Euro to Naira (CAD to NGN)Black Market Exchange Rate Today
    Buying Rate₦760
    Selling Rate₦770
     gggggg

    Canadian Dollar to Naira

    The following are the current CAD to naira black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Canadian Dollars at the parallel (unofficial) market.
    Canadian Dollar to Naira (CAD to NGN)Black Market Exchange Rate Today
    Buying Rate₦540
    Selling Rate₦560
     gggggg

    Rand to Naira

    The following are the current Rand to naira black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Rand to Naira at the parallel (unofficial) market.
    Rand to Naira (ZAR to NGN)Black Market Exchange Rate Today
    Buying Rate₦31
    Selling Rate₦38
     gggggg

    Dirham to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Dirham to Naira at the parallel (unofficial) market.
    Dirham to Naira (AED to NGN)Black Market Exchange Rate Today
    Buying Rate₦155
    Selling Rate₦165
     gggggg 

    Yuan to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Yuan to Naira at the parallel (unofficial) market.
    Yuan to Naira (CNY to NGN)Black Market Exchange Rate Today
    Buying Rate₦80
    Selling Rate₦90
     gggggg 

    Ghanaian Cedi to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Ghanaian Cedi to Naira at the parallel (unofficial) market.
    Cedi to Naira (GHS to NGN)Black Market Exchange Rate Today
    Buying Rate₦65
    Selling Rate₦75
     gggggg

    West African CFA franc to Naira 

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying West African CFA franc to Naira at the parallel (unofficial) market.
    Dirham to Naira (XOF to NGN)Black Market Exchange Rate Today
    Buying Rate₦945
    Selling Rate₦965
      

    Central African CFA franc to Naira

    The following are the current black market rate today of Bureau De Change (BDC) operators in Lagos for selling and buying Central African CFA franc to Naira at the parallel (unofficial) market.
    CFA to Naira (XAF to NGN)Black Market Exchange Rate Today
    Buying Rate₦900
    Selling Rate₦920
     

    CBN Official Naira Exchange Rates

    The exchange rate between the Naira and the US dollar according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official.

     Click here for more of the CBN Naira Exchange rate historical data. 

    GTBank Naira Exchange Rates

    BankCurrencyRateDate
    GTBankUSD to Naira₦ 49016/10/2022
     

    First Bank Naira Exchange Rates

    CurrencyRateDate
    GBP₦ 70605/09/2022
    EUR₦ 60218/07/2022
    CAD₦ 46618/07/2022
    USD₦ 50004/07/2022
    INR₦ 5.8001/05/2021
    RUB₦ 6.2001/05/2021
     

    Access Bank Naira Exchange Rates

    CurrencyRateDate
    USD To Naira₦ 50530/04/2022
    EUR To Naira₦ 53131/08/2021
    GBP To Naira₦ 62128/08/2021
    CAD To Naira₦ 35718/08/2021
    ZAR To Naira₦ 3118/08/2021
    INR To Naira₦ 618/08/2021
    TRY To Naira₦ 5218/08/2021
    AUD To Naira₦ 29901/05/2021
    RUB To Naira₦ 7.1001/05/2021
    SGD To Naira₦ 26801/05/2021
    AED To Naira₦ 10926/11/2020
    XOF To Naira₦ 80015/08/2020
     

    UBA Naira Exchange Rates

    CurrencyRateDate
    INR To Naira₦ 6.1215/10/2022
    USD To Naira₦ 50329/04/2022
    EUR To Naira₦ 56631/08/2021
    GBP To Naira₦ 62223/07/2021
    CAD To Naira₦ 31601/05/2021
    AED To Naira₦ 11908/08/2020
     

    Ecobank Naira Exchange Rates

    CurrencyRateDate
    USD To Naira₦ 48023/03/2022
    GBP To Naira₦ 62123/07/2021
    EUR To Naira₦ 499.4516/06/2021
    AED To Naira₦ 10715/08/2020
    CAD To Naira₦ 29930/06/2020
    INR To Naira₦ 5.925/06/2020
     

    Stanbic Bank Naira Exchange Rates

    CurrencyRateDate
    USD To Naira₦ 47521/01/2022
    EUR To Naira₦ 54322/07/2021
    GBP To Naira₦ 64603/06/2021
    CAD To Naira₦ 33701/05/2021
    TRY To Naira₦ 6901/05/2021
      
     

    1 US Dollar to Nigerian Naira stats

    Last 30 DaysLast 90 Days
    High
    442.67442.67
    Low
    436.36420.31
    Average
    439.32432.43
    Volatility
    0.10%0.10%
     The following are the euro to dollar exchange rates today. It also includes the euro to pounds exchange rates, euro to yen exchange rates, and euro to naira exchange rates among others. 

    1 Euro to US Dollar stats

    Last 30 DaysLast 90 Days
    High
    1.03951.0395
    Low
    0.974980.95960
    Average
    1.01040.99545
    Volatility
    0.81%0.70%
    Convert US Dollar to Euro
    USDEUR
    10 USD9.75844 EUR
    25 USD24.3961 EUR
    50 USD48.7922 EUR
    100 USD97.5844 EUR
       

    FAQ

    Q: What is the Dollar worth against the Nigerian Naira?

    A: One Dollar is worth 442.655 Nigerian Naira today 

    Q: Is the Dollar going up or down against the Nigerian Naira?

    A: Today's exchange rate (442.655) is lower compared to yesterday's rate (442.8151). 

    Q: What are 50 Dollars in Nigerian Naira?

    A: 50 Dollars buys 22132.75 Nigerian Naira at interbank exchange rates. 
    A: $100 USD is currently equal to 97.5844 EUR.

    Aboki FX

    The Central Bank of Nigeria (CBN) has said it is investigating Oniwinde Adedotun, the founder of abokiFX. Sources within the apex bank said that Adedotun and abokiFX Limited are currently under investigation for “illegal foreign exchange transactions”. AbokiFX is a web platform that reports movements in the foreign exchange market since as early as 2014. On Thursday, 16th of September 2021,  abokiFX reported that the naira was trading at 570 to the dollar at the parallel market. An insider, familiar with the events, said that “unusual forex transactions” were found in his account, suggesting the promoters of the platform have been involved in illegal forex trading. The apex bank is said to be investigating seven accounts belonging to Adedotun and abokiFX, vetting every forex transaction from 2019 to 2021. Reports on social media claim that Adedotun is being investigated for foreign exchange rate manipulation, but another source within the bank said he could not confirm the rumors. “There would be a lot more clarity after the next monetary policy committee (MPC) meeting tomorrow,” the source said. AbokiFX, registered in Arizona, United States, is the 63rd most visited website in Nigeria as of September 16, 2021.  

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    DIsclaimer
    This article does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
    Last Updated on: 2022-11-26 23:40:02.

  •  Some investment experts on Monday tasked entrepreneurs on embracing diverse funding portfolios available in the capital market government institutions and other sources to engender scalability and sustainability of their businesses They gave the advice at the Youth in Business Forum YIBF with the theme Accessing Government and Institutional Funding in collaboration with Morgan Capital Group in Lagos Ms Jumoke Olaniyan Senior Vice President Business Development FMDQ Group said the possibilities of growing money by taking advantage of debt instruments and equity in the financial markets by startups were endless Olaniyan said that some of the products in the financial markets included equities debts securities bonds commercial papers promissory notes alternative assets among others She however stressed the need for entrepreneurs to be eligible and their businesses properly positioned via the adoption of the eight Small and Medium Enterprises SMEs octagon principles to spur investments Olaniyan said This is why it is important that your documents financials strategies and other business model metrics would be reviewed for the different stages to access capital Crowdfunding short term products are easier to access at this startup stage before you grow in stage to bonds and other higher investments The SME octagon principles which looks at governance transparency of business documentation business structure and separation of business funds from personal funding would keep you in check for operations Management must be open to advise from professional parties and the business must have its unique selling point The drivers of the business which is the impact of supply chain and demand on your business must be noted and lastly discipline which encompasses all the other points seeing that money business is a trust business must not be neglected Mrs Hetty Ugboh member Rising Tide Africa a group of female angel investors aimed at supporting startups said the group was committed to supporting businesses from seed to pre series investments with funding of between 20 000 and 100 000 Ugboh said companies with developed products and markets under the finance agriculture healthcare education technology or an essential service would be considered for investments She however stressed that such startups must meet at least three of the 17 United Nations Sustainable Development Goals in its operations There s a need for the right board advisors and the individual passion for the business to ensure a scalable product Paystack started with angel investors and venture capitalists but because their idea solved a problem they got investments from several investors globally running into millions of dollars she said Mr Dipo Olomofe the Managing Director Morgan Capital Group said the invested funds must be used to expand the businesses and must not be diversified to other affairs Olomofe also tasked start ups to adopt accurate financial models to help revenue projection for MSME during pitch for investments Mr Ross Oluyede the Managing Director Infrastructure Bank Plc said that given the potential role of the SMEs in developing Nigeria s economy successive governments had pursued several policy options towards promoting the sector He however noted that a good number of SMEs in Nigeria were not aware of the existence of the different sources of funds for SME development the incentives available for them and how to source funds from banks He stated that entrepreneurs must be able to identify and understand policies on how to access the various government intervention funds beneficial to the business To stimulate long term private sector funding for the transportation space the Federal Government provided N25 billion which can be assessed through the bank and it has been playing a catalytic role over the last 10 years This means there are diverse government sponsored intervention funds available for SMEs and the Youth in Business to take advantage of However poor business planning inadequate record keeping are part of the challenges facing applicants for government intervention funds he said NewsSourceCredit NAN
    Experts advocate diversified funding portfolios for entrepreneurs
     Some investment experts on Monday tasked entrepreneurs on embracing diverse funding portfolios available in the capital market government institutions and other sources to engender scalability and sustainability of their businesses They gave the advice at the Youth in Business Forum YIBF with the theme Accessing Government and Institutional Funding in collaboration with Morgan Capital Group in Lagos Ms Jumoke Olaniyan Senior Vice President Business Development FMDQ Group said the possibilities of growing money by taking advantage of debt instruments and equity in the financial markets by startups were endless Olaniyan said that some of the products in the financial markets included equities debts securities bonds commercial papers promissory notes alternative assets among others She however stressed the need for entrepreneurs to be eligible and their businesses properly positioned via the adoption of the eight Small and Medium Enterprises SMEs octagon principles to spur investments Olaniyan said This is why it is important that your documents financials strategies and other business model metrics would be reviewed for the different stages to access capital Crowdfunding short term products are easier to access at this startup stage before you grow in stage to bonds and other higher investments The SME octagon principles which looks at governance transparency of business documentation business structure and separation of business funds from personal funding would keep you in check for operations Management must be open to advise from professional parties and the business must have its unique selling point The drivers of the business which is the impact of supply chain and demand on your business must be noted and lastly discipline which encompasses all the other points seeing that money business is a trust business must not be neglected Mrs Hetty Ugboh member Rising Tide Africa a group of female angel investors aimed at supporting startups said the group was committed to supporting businesses from seed to pre series investments with funding of between 20 000 and 100 000 Ugboh said companies with developed products and markets under the finance agriculture healthcare education technology or an essential service would be considered for investments She however stressed that such startups must meet at least three of the 17 United Nations Sustainable Development Goals in its operations There s a need for the right board advisors and the individual passion for the business to ensure a scalable product Paystack started with angel investors and venture capitalists but because their idea solved a problem they got investments from several investors globally running into millions of dollars she said Mr Dipo Olomofe the Managing Director Morgan Capital Group said the invested funds must be used to expand the businesses and must not be diversified to other affairs Olomofe also tasked start ups to adopt accurate financial models to help revenue projection for MSME during pitch for investments Mr Ross Oluyede the Managing Director Infrastructure Bank Plc said that given the potential role of the SMEs in developing Nigeria s economy successive governments had pursued several policy options towards promoting the sector He however noted that a good number of SMEs in Nigeria were not aware of the existence of the different sources of funds for SME development the incentives available for them and how to source funds from banks He stated that entrepreneurs must be able to identify and understand policies on how to access the various government intervention funds beneficial to the business To stimulate long term private sector funding for the transportation space the Federal Government provided N25 billion which can be assessed through the bank and it has been playing a catalytic role over the last 10 years This means there are diverse government sponsored intervention funds available for SMEs and the Youth in Business to take advantage of However poor business planning inadequate record keeping are part of the challenges facing applicants for government intervention funds he said NewsSourceCredit NAN
    Experts advocate diversified funding portfolios for entrepreneurs
    Economy2 months ago

    Experts advocate diversified funding portfolios for entrepreneurs

    Some investment experts on Monday tasked entrepreneurs on embracing diverse funding portfolios available in the capital market, government institutions and other sources to engender scalability and sustainability of their businesses.

    They gave the advice at the Youth in Business Forum (YIBF) with the theme: “Accessing Government and Institutional Funding,” in collaboration with Morgan Capital Group, in Lagos.

    Ms Jumoke Olaniyan, Senior Vice President, Business Development, FMDQ Group, said the possibilities of growing money by taking advantage of debt instruments and equity in the financial markets by startups, were endless.

    Olaniyan said that some of the products in the financial markets included equities, debts, securities, bonds, commercial papers, promissory notes, alternative assets, among others.

    She, however, stressed the need for entrepreneurs to be eligible and their businesses properly positioned via the adoption of the eight Small and Medium Enterprises (SMEs) octagon principles to spur investments.

    Olaniyan said, “This is why it is important that your documents, financials, strategies and other business model metrics would be reviewed for the different stages to access capital.

    “Crowdfunding short term products are easier to access at this startup stage before you grow in stage to bonds and other higher investments.

    “The SME octagon principles, which looks at governance, transparency of business documentation, business structure and separation of business funds from personal funding would keep you in check for operations.

    “Management must be open to advise from professional parties and the business must have its unique selling point.

    “The drivers of the business, which is the impact of supply chain and demand on your business, must be noted and, lastly, discipline, which encompasses all the other points seeing that money business is a trust business, must not be neglected.

    ” Mrs Hetty Ugboh, member, Rising Tide Africa, a group of female angel investors, aimed at supporting startups, said the group was committed to supporting businesses from seed to pre-series investments with funding of between $20,000 and $100,000. Ugboh said companies with developed products and markets under the finance, agriculture, healthcare, education, technology or an essential service, would be considered for investments.

    She, however, stressed that such startups must meet at least three of the 17 United Nations Sustainable Development Goals in its operations.

    “There’s a need for the right board, advisors and the individual passion for the business to ensure a scalable product.

    “Paystack started with angel investors and venture capitalists, but because their idea solved a problem, they got investments from several investors globally running into millions of dollars,” she said.

    Mr Dipo Olomofe, the Managing Director, Morgan Capital Group, said the invested funds must be used to expand the businesses and must not be diversified to other affairs.

    Olomofe also tasked start-ups to adopt accurate financial models to help revenue projection for MSME during pitch for investments.

    Mr Ross Oluyede, the  Managing Director, Infrastructure Bank Plc, said that, given the potential role of the SMEs in developing Nigeria’s economy, successive governments had pursued several policy options towards promoting the sector.

    He, however, noted that a good number of SMEs in Nigeria were not aware of the existence of the different sources of funds for SME development; the incentives available for them; and how to source funds from banks.

    He stated that entrepreneurs must be able to identify and understand policies on how to access the various government intervention funds beneficial to the business.

    “To stimulate long-term private sector funding for the transportation space, the Federal Government provided N25 billion, which can be assessed through the bank and it has been playing a catalytic role over the last 10 years.

    “This means there are diverse government sponsored intervention funds available for SMEs and the Youth in Business to take advantage of.

    “However, poor business planning, inadequate record keeping are part of the challenges facing applicants for government intervention funds,” he said.  


    NewsSourceCredit: NAN

  •  DLM Capital Group on announced the successful redemption of its N1 24 billion Series 1 N1 01 billion Series 2 and N1 27 billion Series 3 Commercial Papers CPs under its N20 billion Commercial Paper Issuance Programme The Head Corporate Communications FMDQ MS Chinwendu Ohakpougwu said in a statement in Lagos that the Commercial Papers which were all issued on the FMDQ Securities Exchange matured on May 31 Aug 12 and 29 respectively The issuance of the CPs she said was in line with best practice and the FMDQ had been informed of their redemption She said the three series garnered investments from a variety of investors ranging from Pension Fund Administrators Asset Managers Insurance companies and Banks Commenting on the successful redemption the Group CEO of DLM Capital Group Mr Sonnie Ayere said We are pleased to have fully repaid all the investors in the Series 1 Series 2 and Series 3 CP issuances We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term We have been around for 13 years and we will continue to contribute our quota to Nigeria s development He added that the redemption of the CP reflected DLM s capacity to meet its financial obligations as and when due as its intention was to remain an active issuer in the commercial paper market NewsSourceCredit NAN
    DLM Capital redeems series 1, 2, 3 commercial papers
     DLM Capital Group on announced the successful redemption of its N1 24 billion Series 1 N1 01 billion Series 2 and N1 27 billion Series 3 Commercial Papers CPs under its N20 billion Commercial Paper Issuance Programme The Head Corporate Communications FMDQ MS Chinwendu Ohakpougwu said in a statement in Lagos that the Commercial Papers which were all issued on the FMDQ Securities Exchange matured on May 31 Aug 12 and 29 respectively The issuance of the CPs she said was in line with best practice and the FMDQ had been informed of their redemption She said the three series garnered investments from a variety of investors ranging from Pension Fund Administrators Asset Managers Insurance companies and Banks Commenting on the successful redemption the Group CEO of DLM Capital Group Mr Sonnie Ayere said We are pleased to have fully repaid all the investors in the Series 1 Series 2 and Series 3 CP issuances We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term We have been around for 13 years and we will continue to contribute our quota to Nigeria s development He added that the redemption of the CP reflected DLM s capacity to meet its financial obligations as and when due as its intention was to remain an active issuer in the commercial paper market NewsSourceCredit NAN
    DLM Capital redeems series 1, 2, 3 commercial papers
    Economy2 months ago

    DLM Capital redeems series 1, 2, 3 commercial papers

    DLM Capital Group on announced the successful redemption of its N1.24 billion Series 1, N1.01 billion Series 2 and N1.27 billion Series 3 Commercial Papers (CPs), under its N20 billion Commercial Paper Issuance Programme.

    The Head, Corporate Communications, FMDQ, MS Chinwendu Ohakpougwu, said, in a statement in Lagos, that the Commercial Papers, which were all issued on the FMDQ Securities Exchange matured on May 31, Aug. 12 and 29 respectively.

    The issuance of the CPs, she said was in line with best practice and the FMDQ had been informed of their redemption.

    She said the three series garnered investments from a variety of investors ranging from Pension Fund Administrators, Asset Managers, Insurance companies and Banks.

    Commenting on the successful redemption, the Group CEO of DLM Capital Group, Mr Sonnie Ayere, said, “We are pleased to have fully repaid all the investors in the Series 1, Series 2 and Series 3 CP issuances.

    “We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term.

    “We have been around for 13 years, and we will continue to contribute our quota to Nigeria’s development.

    ” He added that the redemption of the CP reflected DLM’s capacity to meet its financial obligations as and when due as its intention was to remain an active issuer in the commercial paper market.


    NewsSourceCredit: NAN

  •   Accelerex Holdings www GlobalAccelerex com Mauritius the Company announced today that its Nigerian subsidiary Global Accelerex Limited registered an N20bn bond program and successfully issued a N2 3bn 5 year senior unsecured bond through a special purpose vehicle Accelerex Funding SPV PLC FBN Quest Limited Renaissance Securities Limited Greenwich Merchant Bank Limited and Nova Bank Limited acted as organizers The Bond is rated BBB Stable Outlook by Global Credit Ratings GCR and Bbb Stable Outlook by Agusto Co and is listed on the FMDQ Exchange The issue attracted participation from a wide range of institutional investors including local pension funds insurance companies and asset managers Relatively strong demand despite a very difficult economic and operating environment confirms the market s confidence in the Company s creditworthiness long term resilience and significant growth potential The bond issue which follows Accelerex s successful 2020 private equity round provides its Nigerian subsidiary with critical long term local currency capital to finance expansion and support its mission to accelerate the financial inclusion of businesses and individuals throughout Africa Accelerex is only the second Nigerian fintech or payments company to successfully place a long term investment grade unsecured bond on the Nigerian capital market The proceeds of the issue will be used to finance the expansion of distribution channels and general working capital Mr Olukayode Ariyo CEO of Global Accelerex Limited said We are very pleased with the outcome of this bond issue as it confirms the market s interest in promoting digital payments and financial inclusion in Nigeria It is a testament to the trust placed in us despite the difficult market environment We thank our bondholders for believing in our Company We will continue our mission to simplify the daily lives of Africans through accessible convenient and affordable digital payments and financial services Mr Paul Kokoricha Director of Accelerex Holdings and Chief Investment Officer of Africa Capital Alliance ACA said The medium term bond issue significantly strengthens the balance sheet and liquidity of Accelerex s Nigerian operations and provides it with the financing in local currency that you need so much and duration to support your expansion plans As equity investors in Accelerex we are very excited that Nigerian debt investors supported the deal which provided useful financial leverage and local currency diversification for the Company s balance sheet With its balance sheet strengthened Accelerex and its management team can confidently continue their quest to expand access to Nigeria s economically underserved population Accelerex is recognized for its excellent customer service and commitment to payment solutions that evolve with customer needs Since it began operations in 2013 Accelerex has become a formidable player in the fintech industry and has established itself as the preferred physical payment partner for all commercial acquiring banks in Nigeria The company has over 150 000 merchant and agent endpoints in Africa and has consistently ranked as one of the top 3 payment channel service providers by value of transactions processed in Nigeria since 2018 It currently operates in Nigeria Ghana and East Africa with plans to expand to other parts of the continent in the future In May 2022 Accelerex was recognized by the Financial Times as one of the fastest growing companies in Africa
    Accelerex Establishes N20bn (mm) Bonus Program; Successfully issues the first tranche of N2.3bn (.5mm)
      Accelerex Holdings www GlobalAccelerex com Mauritius the Company announced today that its Nigerian subsidiary Global Accelerex Limited registered an N20bn bond program and successfully issued a N2 3bn 5 year senior unsecured bond through a special purpose vehicle Accelerex Funding SPV PLC FBN Quest Limited Renaissance Securities Limited Greenwich Merchant Bank Limited and Nova Bank Limited acted as organizers The Bond is rated BBB Stable Outlook by Global Credit Ratings GCR and Bbb Stable Outlook by Agusto Co and is listed on the FMDQ Exchange The issue attracted participation from a wide range of institutional investors including local pension funds insurance companies and asset managers Relatively strong demand despite a very difficult economic and operating environment confirms the market s confidence in the Company s creditworthiness long term resilience and significant growth potential The bond issue which follows Accelerex s successful 2020 private equity round provides its Nigerian subsidiary with critical long term local currency capital to finance expansion and support its mission to accelerate the financial inclusion of businesses and individuals throughout Africa Accelerex is only the second Nigerian fintech or payments company to successfully place a long term investment grade unsecured bond on the Nigerian capital market The proceeds of the issue will be used to finance the expansion of distribution channels and general working capital Mr Olukayode Ariyo CEO of Global Accelerex Limited said We are very pleased with the outcome of this bond issue as it confirms the market s interest in promoting digital payments and financial inclusion in Nigeria It is a testament to the trust placed in us despite the difficult market environment We thank our bondholders for believing in our Company We will continue our mission to simplify the daily lives of Africans through accessible convenient and affordable digital payments and financial services Mr Paul Kokoricha Director of Accelerex Holdings and Chief Investment Officer of Africa Capital Alliance ACA said The medium term bond issue significantly strengthens the balance sheet and liquidity of Accelerex s Nigerian operations and provides it with the financing in local currency that you need so much and duration to support your expansion plans As equity investors in Accelerex we are very excited that Nigerian debt investors supported the deal which provided useful financial leverage and local currency diversification for the Company s balance sheet With its balance sheet strengthened Accelerex and its management team can confidently continue their quest to expand access to Nigeria s economically underserved population Accelerex is recognized for its excellent customer service and commitment to payment solutions that evolve with customer needs Since it began operations in 2013 Accelerex has become a formidable player in the fintech industry and has established itself as the preferred physical payment partner for all commercial acquiring banks in Nigeria The company has over 150 000 merchant and agent endpoints in Africa and has consistently ranked as one of the top 3 payment channel service providers by value of transactions processed in Nigeria since 2018 It currently operates in Nigeria Ghana and East Africa with plans to expand to other parts of the continent in the future In May 2022 Accelerex was recognized by the Financial Times as one of the fastest growing companies in Africa
    Accelerex Establishes N20bn (mm) Bonus Program; Successfully issues the first tranche of N2.3bn (.5mm)
    Africa3 months ago

    Accelerex Establishes N20bn ($48mm) Bonus Program; Successfully issues the first tranche of N2.3bn ($5.5mm)

    Accelerex Holdings (www.GlobalAccelerex.com), Mauritius (the "Company") announced today that its Nigerian subsidiary, Global Accelerex Limited, registered an N20bn bond program and successfully issued a N2.3bn 5-year senior unsecured bond.

    through a special purpose vehicle (Accelerex Funding SPV PLC).

    FBN Quest Limited, Renaissance Securities Limited, Greenwich Merchant Bank Limited and Nova Bank Limited acted as organizers.

    The Bond is rated BBB+ (Stable Outlook) by Global Credit Ratings (GCR) and Bbb+ (Stable Outlook) by Agusto & Co. and is listed on the FMDQ Exchange.

    The issue attracted participation from a wide range of institutional investors, including local pension funds, insurance companies and asset managers.

    Relatively strong demand, despite a very difficult economic and operating environment, confirms the market's confidence in the Company's creditworthiness, long-term resilience and significant growth potential.

    The bond issue, which follows Accelerex's successful 2020 private equity round, provides its Nigerian subsidiary with critical long-term, local currency capital to finance expansion and support its mission to accelerate the financial inclusion of businesses.

    and individuals throughout Africa.

    Accelerex is only the second Nigerian fintech or payments company to successfully place a long-term investment grade unsecured bond on the Nigerian capital market.

    The proceeds of the issue will be used to finance the expansion of distribution channels and general working capital.

    Mr. Olukayode Ariyo, CEO of Global Accelerex Limited, said, “We are very pleased with the outcome of this bond issue as it confirms the market's interest in promoting digital payments and financial inclusion in Nigeria.

    It is a testament to the trust placed in us, despite the difficult market environment.

    We thank our bondholders for believing in our Company.

    We will continue our mission to simplify the daily lives of Africans through accessible, convenient and affordable digital payments and financial services.” Mr. Paul Kokoricha, Director of Accelerex Holdings and Chief Investment Officer of Africa Capital Alliance (ACA), said: “The medium-term bond issue significantly strengthens the balance sheet and liquidity of Accelerex's Nigerian operations and provides it with the financing in local currency that you need so much.

    and duration to support your expansion plans.

    As equity investors in Accelerex, we are very excited that Nigerian debt investors supported the deal, which provided useful financial leverage and local currency diversification for the Company's balance sheet.

    With its balance sheet strengthened, Accelerex and its management team can confidently continue their quest to expand access to Nigeria's economically underserved population."

    Accelerex is recognized for its excellent customer service and commitment to payment solutions that evolve with customer needs.

    Since it began operations in 2013, Accelerex has become a formidable player in the fintech industry and has established itself as the preferred physical payment partner for all commercial acquiring banks in Nigeria.

    The company has over 150,000 merchant and agent endpoints in Africa and has consistently ranked as one of the top 3 payment channel service providers (by value of transactions processed) in Nigeria since 2018.

    It currently operates in Nigeria, Ghana and East Africa, with plans to expand to other parts of the continent in the future.

    In May 2022, Accelerex was recognized by the Financial Times as one of the fastest growing companies in Africa.

  •  The FMDQ Securities Exchange Ltd has approved the registration of the Johnvents Industries Ltd N30 billion Commercial Paper CP to boost agriculture productivity This is contained in a statement issued by the company on Tuesday in Lagos The News Agency of Nigeria reports that Johnvents Industries Ltd is a wholly indigenous owned agribusiness that provides modern information and communication tools macro loans and farm inputs to support farmers and finance their businesses in Nigeria The statement said that the approval was in furtherance of the company s commitment to the transformative development of the Nigerian debt markets The Exchange said that the registration of the Johnvents Industries Ltd N30 billion CP programme on its platform would boost agriculture in the country The group noted that access to capital remains a top priority for corporates to fund business expenditure expansion aspirations existing debt obligations It added that the CP programme sponsored by United Capital Plc would avail the issuer the opportunity to raise short term finance from the Nigerian debt markets through CP issuances within the programme limit The statement reiterated that FMDQ Exchange would continue to provide a liquid transparent and efficient market geared toward supporting the aspirations of corporates to unlock the required capital to bridge the funding gap in Nigeria s agriculture sector www ng NewsSourceCredit NAN
    FMDQ approves N30bn Commercial Paper programme to boost agriculture
     The FMDQ Securities Exchange Ltd has approved the registration of the Johnvents Industries Ltd N30 billion Commercial Paper CP to boost agriculture productivity This is contained in a statement issued by the company on Tuesday in Lagos The News Agency of Nigeria reports that Johnvents Industries Ltd is a wholly indigenous owned agribusiness that provides modern information and communication tools macro loans and farm inputs to support farmers and finance their businesses in Nigeria The statement said that the approval was in furtherance of the company s commitment to the transformative development of the Nigerian debt markets The Exchange said that the registration of the Johnvents Industries Ltd N30 billion CP programme on its platform would boost agriculture in the country The group noted that access to capital remains a top priority for corporates to fund business expenditure expansion aspirations existing debt obligations It added that the CP programme sponsored by United Capital Plc would avail the issuer the opportunity to raise short term finance from the Nigerian debt markets through CP issuances within the programme limit The statement reiterated that FMDQ Exchange would continue to provide a liquid transparent and efficient market geared toward supporting the aspirations of corporates to unlock the required capital to bridge the funding gap in Nigeria s agriculture sector www ng NewsSourceCredit NAN
    FMDQ approves N30bn Commercial Paper programme to boost agriculture
    General news3 months ago

    FMDQ approves N30bn Commercial Paper programme to boost agriculture

    The FMDQ Securities Exchange Ltd. has approved the registration of the Johnvents Industries Ltd N30 billion Commercial Paper (CP) to boost agriculture productivity.

    This is contained in a statement issued by the company on Tuesday in Lagos.

    The News Agency of Nigeria reports that Johnvents Industries Ltd is a wholly indigenous-owned agribusiness that provides modern information and communication tools, macro-loans, and farm inputs to support farmers and finance their businesses in Nigeria.

    The statement said that the approval was in furtherance of the company’s commitment to the transformative development of the Nigerian debt markets.

    The Exchange said that the registration of the Johnvents Industries Ltd N30 billion CP programme on its platform would boost agriculture in the country.

    The group noted that access to capital remains a top priority for corporates to fund business expenditure, expansion aspirations existing debt obligations.

    It added that the CP programme, sponsored by United Capital Plc, would avail the issuer the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the programme limit.

    The statement reiterated that FMDQ Exchange would continue to provide a liquid, transparent and efficient market geared toward supporting the aspirations of corporates to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector.

    www.

    ng
    NewsSourceCredit: NAN

  •  Parthian Partners Ltd a Nigerian based top brokerage firm says it is impressed with its 10 years of greatly contributing to bridge the gap in both wholesale and retail financial sector in the country The Chief Executive Officer of Parthian Partners Ltd Mr Oluseye Olusoga made the assertion in his address at an event to celebrate the company s 10th year anniversary in Lagos on Saturday a statement on Tuesday said It said the grand glittering anniversary celebration was themed A Night of Golden Stars and awards were presented to personalities who had contributed greatly to the growth and success of the company in the past decade According to Olusoga Parthian Partners Limited is Nigeria s first inter dealer broker serving both buy side and sell side wholesale market participants He said the company also provided liquidity by showing prices on all off the run FGN bonds State and corporate bonds Treasury Bills Promissory notes and Euro bonds Parthian Partners is the first Inter Dealer Broker in Nigeria to successfully issue and redeem a 20 Billion NGN Commercial Paper on the Financial Markets Dealers Quotations FMDQ Exchange The wholesale brokerage industry is one with huge potential But when we decided to set up the first ever interdealer brokerage business in Nigeria there was no regulatory framework and the industry didn t even exist Now there are so many other businesses in Nigeria which do what we do Therefore we are happy to have pioneered a burgeoning industry that improves liquidity financial integration transparency and efficiency in the African OTC and fixed income market he said quoted as saying The CEO expressed his appreciation to distinguished personalities who contributed to the growth and success of the company Also the Chairman of Parthian Partners Mr Adedotun Sulaiman MFR in his address encouraged members to be more committed to the future of the firm As we celebrate Parthian s 10th anniversary it is an appropriate time for us the pioneers of this great company to reflect on our phenomenal achievements and to commit ourselves to building a legacy for the future generations The Parthian story started 10 years ago when the Founder Seye Olusoga shared with my age long friend Adebayo Adeola and myself his vision to start an interdealer brokerage business in Nigeria To provide a platform for market players to unanimously trade large volumes of fixed income securities he said According to Sulaiman Parthian Partners which was established in 2012 remains Nigeria s premier traditional inter dealer brokerage firm with a wide range of clientele He said that the clientele cuts across local and foreign banking institutions assets managers insurance companies pension fund administrators corporates bodies and development organisations Sulaiman described the company as a well established institution with a strong innovative spirit which maintained service standards on the scale of an efficient enterprise Parthian Partners prides itself as the leading firm in fixed income and structured finance and equities and financial integration services in the industry It leverages technology to provide services to its clientele to enable financial growth at all levels However it was no mean feat to introduce the company s vision and to work with regulators to develop a framework for its regulation and operations a vision which he said birthed not only a successful business but also a thriving sector I recall the efforts that were required to set up the business at a time when interdealer brokerage was alien to the region We started to build from scratch and worked our way to become the first interdealer broker in sub Saharan Africa He said that while Parthian Partners had continued to improve services and impact lives across the country the firm was bent on changing the narrative for Nigerians through access to cash and ease of transactions He emphasised the company s commitment to retaining its core values and vision from inception 10 years ago to continue to innovate and to satisfy its clientele Our first commitment is to retain the Parthian s DNA and embrace our DIETS which is an acronym of Dedication Integrity Excellence Teamwork and Service just as we envisioned 10 years ago For Parthian this means committing ourselves to go the extra mile to ensure that the interests of all stakeholders are duly satisfied To never compromise on ethical standards to seek to exceed expectations to work together to achieve our common objectives and to leverage strong relationships technology and intelligence to deliver superior service to our clientele Our second commitment is to build to last We are building a business that will stand the test of time and become a legacy The future is very bright I see huge prospects for Parthian and there are many things we are working on presently to solidify this Sulaiman added He thanked all the Parthian s stakeholders partners Board of Directors management staff and valued clients who contributed to Parthian s enviable position in the financial marketplace NewsSourceCredit NAN
    Parthian Partners commemorates 10 years interdealer brokerage in Nigeria
     Parthian Partners Ltd a Nigerian based top brokerage firm says it is impressed with its 10 years of greatly contributing to bridge the gap in both wholesale and retail financial sector in the country The Chief Executive Officer of Parthian Partners Ltd Mr Oluseye Olusoga made the assertion in his address at an event to celebrate the company s 10th year anniversary in Lagos on Saturday a statement on Tuesday said It said the grand glittering anniversary celebration was themed A Night of Golden Stars and awards were presented to personalities who had contributed greatly to the growth and success of the company in the past decade According to Olusoga Parthian Partners Limited is Nigeria s first inter dealer broker serving both buy side and sell side wholesale market participants He said the company also provided liquidity by showing prices on all off the run FGN bonds State and corporate bonds Treasury Bills Promissory notes and Euro bonds Parthian Partners is the first Inter Dealer Broker in Nigeria to successfully issue and redeem a 20 Billion NGN Commercial Paper on the Financial Markets Dealers Quotations FMDQ Exchange The wholesale brokerage industry is one with huge potential But when we decided to set up the first ever interdealer brokerage business in Nigeria there was no regulatory framework and the industry didn t even exist Now there are so many other businesses in Nigeria which do what we do Therefore we are happy to have pioneered a burgeoning industry that improves liquidity financial integration transparency and efficiency in the African OTC and fixed income market he said quoted as saying The CEO expressed his appreciation to distinguished personalities who contributed to the growth and success of the company Also the Chairman of Parthian Partners Mr Adedotun Sulaiman MFR in his address encouraged members to be more committed to the future of the firm As we celebrate Parthian s 10th anniversary it is an appropriate time for us the pioneers of this great company to reflect on our phenomenal achievements and to commit ourselves to building a legacy for the future generations The Parthian story started 10 years ago when the Founder Seye Olusoga shared with my age long friend Adebayo Adeola and myself his vision to start an interdealer brokerage business in Nigeria To provide a platform for market players to unanimously trade large volumes of fixed income securities he said According to Sulaiman Parthian Partners which was established in 2012 remains Nigeria s premier traditional inter dealer brokerage firm with a wide range of clientele He said that the clientele cuts across local and foreign banking institutions assets managers insurance companies pension fund administrators corporates bodies and development organisations Sulaiman described the company as a well established institution with a strong innovative spirit which maintained service standards on the scale of an efficient enterprise Parthian Partners prides itself as the leading firm in fixed income and structured finance and equities and financial integration services in the industry It leverages technology to provide services to its clientele to enable financial growth at all levels However it was no mean feat to introduce the company s vision and to work with regulators to develop a framework for its regulation and operations a vision which he said birthed not only a successful business but also a thriving sector I recall the efforts that were required to set up the business at a time when interdealer brokerage was alien to the region We started to build from scratch and worked our way to become the first interdealer broker in sub Saharan Africa He said that while Parthian Partners had continued to improve services and impact lives across the country the firm was bent on changing the narrative for Nigerians through access to cash and ease of transactions He emphasised the company s commitment to retaining its core values and vision from inception 10 years ago to continue to innovate and to satisfy its clientele Our first commitment is to retain the Parthian s DNA and embrace our DIETS which is an acronym of Dedication Integrity Excellence Teamwork and Service just as we envisioned 10 years ago For Parthian this means committing ourselves to go the extra mile to ensure that the interests of all stakeholders are duly satisfied To never compromise on ethical standards to seek to exceed expectations to work together to achieve our common objectives and to leverage strong relationships technology and intelligence to deliver superior service to our clientele Our second commitment is to build to last We are building a business that will stand the test of time and become a legacy The future is very bright I see huge prospects for Parthian and there are many things we are working on presently to solidify this Sulaiman added He thanked all the Parthian s stakeholders partners Board of Directors management staff and valued clients who contributed to Parthian s enviable position in the financial marketplace NewsSourceCredit NAN
    Parthian Partners commemorates 10 years interdealer brokerage in Nigeria
    Economy4 months ago

    Parthian Partners commemorates 10 years interdealer brokerage in Nigeria

    Parthian Partners Ltd, a Nigerian based top brokerage firm, says it is impressed with its 10 years of greatly contributing to bridge the gap in both wholesale and retail financial sector in the country.

    The Chief Executive Officer of Parthian Partners Ltd, Mr Oluseye Olusoga, made the assertion in his address at an event to celebrate the company’s 10th year anniversary in Lagos on Saturday, a statement on Tuesday said.

    It said the grand glittering anniversary celebration was themed: “A Night of Golden Stars” and awards were presented to personalities who had contributed greatly to the growth and success of the company in the past decade.

    According to Olusoga, Parthian Partners Limited is Nigeria’s first inter-dealer broker, serving both buy-side and sell-side wholesale market participants.

    He said the company also provided liquidity by showing prices on all off-the-run FGN bonds, State and corporate bonds, Treasury Bills, Promissory notes, and Euro bonds.

    “ Parthian Partners is the first Inter-Dealer Broker in Nigeria to successfully issue and redeem a 20 Billion (NGN) Commercial Paper on the Financial Markets Dealers Quotations (FMDQ) Exchange.

    “The wholesale brokerage industry is one with huge potential.

    But when we decided to set up the first ever interdealer brokerage business in Nigeria, there was no regulatory framework and the industry didn’t even exist.

    “ Now, there are so many other businesses in Nigeria which do what we do.

    “Therefore, we are happy to have pioneered a burgeoning industry that improves liquidity, financial integration, transparency and efficiency in the African OTC and fixed income market,’’ he said quoted as saying.

    The CEO expressed his appreciation to distinguished personalities who contributed to the growth and success of the company.

    Also, the Chairman of Parthian Partners, Mr Adedotun Sulaiman (MFR), in his address, encouraged members to be more committed to the future of the firm.

    “As we celebrate Parthian’s 10th anniversary, it is an appropriate time for us, the pioneers of this great company, to reflect on our phenomenal achievements and to commit ourselves to building a legacy for the future generations.

    “The Parthian story started 10 years ago when the Founder, Seye Olusoga shared with my age long friend, Adebayo Adeola and myself, his vision to start an interdealer brokerage business in Nigeria.

    “To provide a platform for market players to unanimously trade large volumes of fixed income securities”, he said.

    According to Sulaiman, Parthian Partners, which was established in 2012, remains Nigeria’s premier traditional inter-dealer brokerage firm with a wide range of clientele.

    He said that the clientele cuts across local and foreign banking institutions, assets managers, insurance companies, pension fund administrators, corporates bodies and development organisations.

    Sulaiman described the company as a well-established institution with a strong innovative spirit, which maintained service standards on the scale of an efficient enterprise.

    “ Parthian Partners prides itself as the leading firm in fixed income and structured finance and equities and financial integration services in the industry.

    “It leverages technology to provide services to its clientele to enable financial growth at all levels.

    “However, it was no mean feat to introduce the company’s vision and to work with regulators to develop a framework for its regulation and operations, a vision which he said birthed not only a successful business, but also a thriving sector.

    “I recall the efforts that were required to set up the business at a time when interdealer brokerage was alien to the region.

    “We started to build from scratch and worked our way to become the first interdealer broker in sub-Saharan Africa’’.

    He   said that while Parthian Partners had continued to improve services and impact lives across the country, the firm was bent on changing the narrative for Nigerians through access to cash and ease of transactions.

    He emphasised the company’s commitment to retaining its core values and vision from inception 10 years ago to continue to innovate and to satisfy its clientele.

    “Our first commitment is to retain the Parthian’s DNA and embrace our ‘DIETS’, which is an acronym of ‘Dedication’, ‘Integrity’, ‘Excellence’, ‘Teamwork’ and ‘Service’, just as we envisioned 10 years ago.

    “For Parthian, this means committing ourselves to go the extra mile to ensure that the interests of all stakeholders are duly satisfied.

    “To never compromise on ethical standards, to seek to exceed expectations, to work together to achieve our common objectives and to leverage strong relationships, technology, and intelligence to deliver superior service to our clientele.

    “Our second commitment is to build to last.

    We are building a business that will stand the test of time and become a legacy.

    “The future is very bright.

    I see huge prospects for Parthian and there are many things we are working on presently to solidify this,’’ Sulaiman added.

    He thanked all the Parthian’s stakeholders, partners, Board of Directors, management staff and valued clients who contributed to  Parthian’s enviable position in the financial marketplace.

    NewsSourceCredit: NAN

  •  The Debt Management Office DMO is set to list the 8 375 per cent 1 25billion dollars March 2029 Eurobond on the Nigerian Stock Exchange NSE and FMDQ Securities Exchange Limited The DMO made this known in a statement on Thursday in Abuja It said that the Eurobond was issued in March based on approvals in the 2022 budget and further approvals by the National Assembly and the Federal Executive Council FEC The DMO said the Eurobond had earlier been listed on the London Stock Exchange It said that listing of the Eurobond on the NSE and FMDQ was an indication that DMO was committed to boosting the domestic capital market activities and creating opportunities for local players The DMO will today Thursday list 8 375 per cent 1 25 billion dollars March 2019 Eurobond on the NSE and FMDQ The Eurobond was issued in March based on approvals in the 2022 appropriation Act and subsequent approvals received from the National Assembly and FEC Its proceeds were used for financing capital projects in the Appropriation Act In addition the proceeds contributed to an increase in external reserves the DMO said The News Agency of Nigeria reports that the DMO had in 2019 listed the first Eurobonds 2 50 billion dollars and 2 86 billion dollars on the NSE and FMDQ Securities Exchange Also earlier in the week the DMO listed a N250 billion 10 year 13 0 per cent FGN Sovereign Sukuk due 2031 on the NSE and FMDQ NewsSourceCredit NAN
    DMO lists  The Debt Management Office DMO is set to list the 8 375 per cent 1 25billion dollars March 2029 Eurobond on the Nigerian Stock Exchange NSE and FMDQ Securities Exchange Limited The DMO made this known in a statement on Thursday in Abuja It said that the Eurobond was issued in March based on approvals in the 2022 budget and further approvals by the National Assembly and the Federal Executive Council FEC The DMO said the Eurobond had earlier been listed on the London Stock Exchange It said that listing of the Eurobond on the NSE and FMDQ was an indication that DMO was committed to boosting the domestic capital market activities and creating opportunities for local players The DMO will today Thursday list 8 375 per cent 1 25 billion dollars March 2019 Eurobond on the NSE and FMDQ The Eurobond was issued in March based on approvals in the 2022 appropriation Act and subsequent approvals received from the National Assembly and FEC Its proceeds were used for financing capital projects in the Appropriation Act In addition the proceeds contributed to an increase in external reserves the DMO said The News Agency of Nigeria reports that the DMO had in 2019 listed the first Eurobonds 2 50 billion dollars and 2 86 billion dollars on the NSE and FMDQ Securities Exchange Also earlier in the week the DMO listed a N250 billion 10 year 13 0 per cent FGN Sovereign Sukuk due 2031 on the NSE and FMDQ NewsSourceCredit NAN .25bn Eurobond on NSE, FMDQ
     The Debt Management Office DMO is set to list the 8 375 per cent 1 25billion dollars March 2029 Eurobond on the Nigerian Stock Exchange NSE and FMDQ Securities Exchange Limited The DMO made this known in a statement on Thursday in Abuja It said that the Eurobond was issued in March based on approvals in the 2022 budget and further approvals by the National Assembly and the Federal Executive Council FEC The DMO said the Eurobond had earlier been listed on the London Stock Exchange It said that listing of the Eurobond on the NSE and FMDQ was an indication that DMO was committed to boosting the domestic capital market activities and creating opportunities for local players The DMO will today Thursday list 8 375 per cent 1 25 billion dollars March 2019 Eurobond on the NSE and FMDQ The Eurobond was issued in March based on approvals in the 2022 appropriation Act and subsequent approvals received from the National Assembly and FEC Its proceeds were used for financing capital projects in the Appropriation Act In addition the proceeds contributed to an increase in external reserves the DMO said The News Agency of Nigeria reports that the DMO had in 2019 listed the first Eurobonds 2 50 billion dollars and 2 86 billion dollars on the NSE and FMDQ Securities Exchange Also earlier in the week the DMO listed a N250 billion 10 year 13 0 per cent FGN Sovereign Sukuk due 2031 on the NSE and FMDQ NewsSourceCredit NAN
    DMO lists  The Debt Management Office DMO is set to list the 8 375 per cent 1 25billion dollars March 2029 Eurobond on the Nigerian Stock Exchange NSE and FMDQ Securities Exchange Limited The DMO made this known in a statement on Thursday in Abuja It said that the Eurobond was issued in March based on approvals in the 2022 budget and further approvals by the National Assembly and the Federal Executive Council FEC The DMO said the Eurobond had earlier been listed on the London Stock Exchange It said that listing of the Eurobond on the NSE and FMDQ was an indication that DMO was committed to boosting the domestic capital market activities and creating opportunities for local players The DMO will today Thursday list 8 375 per cent 1 25 billion dollars March 2019 Eurobond on the NSE and FMDQ The Eurobond was issued in March based on approvals in the 2022 appropriation Act and subsequent approvals received from the National Assembly and FEC Its proceeds were used for financing capital projects in the Appropriation Act In addition the proceeds contributed to an increase in external reserves the DMO said The News Agency of Nigeria reports that the DMO had in 2019 listed the first Eurobonds 2 50 billion dollars and 2 86 billion dollars on the NSE and FMDQ Securities Exchange Also earlier in the week the DMO listed a N250 billion 10 year 13 0 per cent FGN Sovereign Sukuk due 2031 on the NSE and FMDQ NewsSourceCredit NAN .25bn Eurobond on NSE, FMDQ
    General news5 months ago

    DMO lists $1.25bn Eurobond on NSE, FMDQ

    The Debt Management Office (DMO) is set to list the 8.375 per cent, 1.25billion dollars, March 2029 Eurobond on the Nigerian Stock Exchange (NSE) and FMDQ Securities Exchange Limited.

    The DMO made this known in a statement on Thursday in Abuja.

    It said that the Eurobond was issued in March, based on approvals in the 2022 budget, and further approvals by the National Assembly and the Federal Executive Council (FEC).

    The DMO said the Eurobond had earlier been listed on the London Stock Exchange.

    It said that listing of the Eurobond on the NSE and FMDQ was an indication that DMO was committed to boosting the domestic capital market activities and creating opportunities for local players.

    “The DMO will today Thursday, list 8.375 per cent, 1.25 billion dollars, March 2019 Eurobond on the NSE and FMDQ.

    “The Eurobond was issued in March based on approvals in the 2022 appropriation Act and subsequent approvals received from the National Assembly and FEC.

    “Its proceeds were used for financing capital projects in the Appropriation Act. In addition, the proceeds contributed to an increase in external reserves,’’ the DMO said.

    The News Agency of Nigeria reports that the DMO had in 2019, listed the first Eurobonds, 2.50 billion dollars and 2.86 billion dollars on the NSE and FMDQ Securities Exchange.

    Also, earlier in the week, the DMO listed a N250 billion 10-year 13.0 per cent FGN Sovereign Sukuk, due 2031 on the NSE and FMDQ.

    NewsSourceCredit: NAN

  •  The FMDQ Securities Exchange Ltd has approved the listing of oil palm processing company Presco Plc s N50 billion bond on its platform FMDQ disclosed this in a statement on Friday in Lagos The News Agency of Nigeria NAN reports that FMDQ Exchange is a platform for the registration listing quotation and trading of financial securities The statement read Following the due diligence of the Exchange s Board Listings and Markets Committee it is pleased to announce the approval for the listing of the Presco Plc N34 50 billion Series 1 Fixed Rate Bond The bond falls under the N50 billion bond issuance programme on the FMDQ platform Presco Plc is a fully integrated agro industrial establishment that specialises in the cultivation of oil palm plantation milling and crushing of palm kernels to produce a range of refined vegetable oil It also has an olein and stearing packaging and biogas plants to treat its palm oil mill effluent The proceeds generated from the Presco Plc Series 1 Bond will be used by the Issuer to refinance existing facilities from banks and to augment working capital requirements According to it the bond is co sponsored by Stanbic IBTC Capital Ltd Lead Sponsor CardinalStone Partners Ltd and Quantum Zenith Capital and Investments Ltd all registered members of the Exchange As a securities exchange with a commitment to facilitate growth and development in the Nigerian debt capital market and economy at large FMDQ Exchange continues to show its commitment to promote an efficient transparent and well regulated market In also attracts and retains both domestic and foreign investors through the provision of a world class listing and quotation service amongst others in line with its mandate the statement said NewsSourceCredit NAN
    FMDQ Exchange lists oil-palm Presco’s N50bn bond
     The FMDQ Securities Exchange Ltd has approved the listing of oil palm processing company Presco Plc s N50 billion bond on its platform FMDQ disclosed this in a statement on Friday in Lagos The News Agency of Nigeria NAN reports that FMDQ Exchange is a platform for the registration listing quotation and trading of financial securities The statement read Following the due diligence of the Exchange s Board Listings and Markets Committee it is pleased to announce the approval for the listing of the Presco Plc N34 50 billion Series 1 Fixed Rate Bond The bond falls under the N50 billion bond issuance programme on the FMDQ platform Presco Plc is a fully integrated agro industrial establishment that specialises in the cultivation of oil palm plantation milling and crushing of palm kernels to produce a range of refined vegetable oil It also has an olein and stearing packaging and biogas plants to treat its palm oil mill effluent The proceeds generated from the Presco Plc Series 1 Bond will be used by the Issuer to refinance existing facilities from banks and to augment working capital requirements According to it the bond is co sponsored by Stanbic IBTC Capital Ltd Lead Sponsor CardinalStone Partners Ltd and Quantum Zenith Capital and Investments Ltd all registered members of the Exchange As a securities exchange with a commitment to facilitate growth and development in the Nigerian debt capital market and economy at large FMDQ Exchange continues to show its commitment to promote an efficient transparent and well regulated market In also attracts and retains both domestic and foreign investors through the provision of a world class listing and quotation service amongst others in line with its mandate the statement said NewsSourceCredit NAN
    FMDQ Exchange lists oil-palm Presco’s N50bn bond
    General news5 months ago

    FMDQ Exchange lists oil-palm Presco’s N50bn bond

    The FMDQ Securities Exchange Ltd. has approved the listing of oil palm processing company, Presco Plc’s N50 billion bond on its platform.

    FMDQ disclosed this in a statement on Friday in Lagos.

    The News Agency of Nigeria (NAN ) reports that FMDQ Exchange is a platform for the registration, listing, quotation, and trading of financial securities.

    The statement read,  “Following the due diligence of the Exchange’s Board Listings and Markets Committee, it is pleased to announce the approval for the listing of the Presco Plc N34.50 billion Series 1 Fixed Rate Bond.

    “The bond falls under the N50 billion bond issuance programme on the FMDQ platform.

    “Presco Plc is a fully integrated agro-industrial establishment that specialises in the cultivation of oil palm plantation, milling and crushing of palm kernels to produce a range of refined vegetable oil.

    “It also has an olein and stearing packaging and biogas plants to treat its palm oil mill effluent.

    “The proceeds generated from the Presco Plc Series 1 Bond, will be used by the Issuer to refinance existing facilities from banks and to augment working capital requirements.”

    According to it, the bond is co-sponsored by Stanbic IBTC Capital Ltd. (Lead Sponsor), CardinalStone Partners Ltd. and Quantum Zenith Capital and Investments Ltd; all registered members of the Exchange.

    “As a securities exchange with a commitment to facilitate growth and development in the Nigerian debt capital market and economy at large, FMDQ Exchange continues to show its commitment to promote an efficient, transparent, and well-regulated market.

    “In also attracts and retains both domestic and foreign investors, through the provision of a world-class listing and quotation service, amongst others, in line with its mandate,” the statement said.

    NewsSourceCredit: NAN

  •  The Debt Management Office DMO has offered three new Federal Government of Nigeria FGN bonds valued at N225 billion for subscription through auction in April They are a N75 billion FGN bond at 13 5 per cent interest rate due in March 2025 10 year re opening and a N75 billion FGN bond due in April 2032 10 year new issue The third one is a N75 billion bond at 13 per cent interest rate due in January 2042 20 year re opening The bonds are valued at N1 000 with a minimum subscription of N50 million and in multiples of 1000 units thereafter Auction date is April 25 while successful bidders have April 27 deadline to pay up For re opening of previously issued bonds successful bidders will pay a price corresponding to the yield to maturity bid that clears the volume being auctioned plus any accrued interest The bonds qualify as securities in which trustees can invest under the Trustee Investment Act They also qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption pension fund amongst other investors They are listed on The Nigerian Stock Exchange Ltd and FMDQ OTC Securities Exchange the DMO stated It added that all FGN bonds qualify as liquid asset for liquidity ratio calculation for banks FGN bonds are backed by the full faith and credit of the FGN and are charged upon the general assets of Nigeria it added Source Credit NAN
    DMO auctions 3 new FGN bonds valued at N225bn
     The Debt Management Office DMO has offered three new Federal Government of Nigeria FGN bonds valued at N225 billion for subscription through auction in April They are a N75 billion FGN bond at 13 5 per cent interest rate due in March 2025 10 year re opening and a N75 billion FGN bond due in April 2032 10 year new issue The third one is a N75 billion bond at 13 per cent interest rate due in January 2042 20 year re opening The bonds are valued at N1 000 with a minimum subscription of N50 million and in multiples of 1000 units thereafter Auction date is April 25 while successful bidders have April 27 deadline to pay up For re opening of previously issued bonds successful bidders will pay a price corresponding to the yield to maturity bid that clears the volume being auctioned plus any accrued interest The bonds qualify as securities in which trustees can invest under the Trustee Investment Act They also qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption pension fund amongst other investors They are listed on The Nigerian Stock Exchange Ltd and FMDQ OTC Securities Exchange the DMO stated It added that all FGN bonds qualify as liquid asset for liquidity ratio calculation for banks FGN bonds are backed by the full faith and credit of the FGN and are charged upon the general assets of Nigeria it added Source Credit NAN
    DMO auctions 3 new FGN bonds valued at N225bn
    General news7 months ago

    DMO auctions 3 new FGN bonds valued at N225bn

    The Debt Management Office (DMO) has offered three new Federal Government of Nigeria (FGN) bonds valued at N225 billion for subscription through auction in April.

    They are a N75 billion FGN bond at 13.5 per cent interest rate, due in March 2025 (10 year re-opening) and a N75 billion FGN bond, due in April 2032 (10 year new issue).

    The third one is a N75 billion bond at 13 per cent interest rate, due in January 2042 (20 year re-opening).

    The bonds are valued at N1,000 with a minimum subscription of N50 million, and in multiples of 1000 units thereafter.

    Auction date is April 25, while successful bidders have April 27 deadline to pay up.

    “For re-opening of previously issued bonds, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest.

    “The bonds qualify as securities in which trustees can invest under the Trustee Investment Act.

    “They also qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption, pension fund amongst other investors.

    “They are listed on The Nigerian Stock Exchange Ltd. and FMDQ OTC Securities Exchange,’’ the DMO stated.

    It added that all FGN bonds qualify as liquid asset for liquidity ratio calculation for banks.

    “FGN bonds are backed by the full faith and credit of the FGN and are charged upon the general assets of Nigeria,’’ it added.

    Source Credit: NAN

  •   Presco Plc has announced the issuance of N34 5 billion Series 1 seven year fixed rate bonds under its N50 billion bond issuance programme This is contained in a statement that Nwabuko the company s Managing Director made available to the Nigerian News Agency in Benin on Tuesday Nwabuko said the bond attracted participation from a wide range of investors including pension funds asset managers insurance companies banks and high net worth individuals He praised the institutional investor community for supporting the transaction during the signing ceremony for the bond issue that took place on Tuesday at the company s Obaretin Estate Benin Edo Nwabuko said the bond issue was 24 percent underwritten and had a coupon price of 12 85 percent Presco sought to raise N30 billion but the order book closed at N74 billion so the company chose to issue an additional 15 per cent to investors thus raising a total of N34 5 billion Stanbic IBTC Capital Ltd acted as lead issuer of the bond issue while CardinalStone Partners Ltd and Quantum Zenith Capital and Investments Ltd acted as joint issuers of the bond issue Nwabuko said We are pleased with our first bond issue and grateful to our institutional investor community for supporting the transaction This is a landmark transaction for Presco and has expanded our long term funding sources The success of this transaction demonstrates the resilience of our business its strong cash generation and a long term future with enormous potential for sustainable growth in a fundamental sector for the country s agri food promotion strategy which made its positioning possible in Nigeria the largest country in Africa palm oil product market This is supported by Agusto Co s rating and GCR s A rating Caption From left to right Director of Fice Presco Plc Mr Kenneth Crocket Managing Director Presco Plc Mr Feix Nwabuko Managing Director Stanbic IBTC Funsho Akere and Acting Group CEO Siat Group Mr Jan Van Eykeren at the signing of Presco Plc N34 5billion Series 1 Bond on Tuesday in Benin Edo StateHe said the bond would be listed on the Nigerian Exchange Ltd and the FMDQ Securities Exchange Also speaking Mr Funso Akere CEO of Stanbic IBTC Capital said Stanbic IBTC Capital CardinalStone Partners and Quantum Zenith Capital are delighted to have advised Presco on its first issuance in the Nigerian debt capital markets We thank the institutional investor community for supporting the issue as its success should encourage other similar companies to access the domestic debt capital markets for their strategic financing needs We also thank the Presco board of directors and management for giving the issuers carte blanche to guide the process Stanbic IBTC Capital is particularly pleased to have worked on this historic issue having handled Presco s Initial Public Offering and listed on the Nigerian Exchange Ltd two decades ago Additionally Quantum Zenith Capital Managing Director CEO Kennedy Ichibor and Michael Nzewi of Cardinal Stone praised the firm for creating an environment conducive to the transaction They praised the company for maintaining its growth path over the years
    Presco issues N34.5bn bond
      Presco Plc has announced the issuance of N34 5 billion Series 1 seven year fixed rate bonds under its N50 billion bond issuance programme This is contained in a statement that Nwabuko the company s Managing Director made available to the Nigerian News Agency in Benin on Tuesday Nwabuko said the bond attracted participation from a wide range of investors including pension funds asset managers insurance companies banks and high net worth individuals He praised the institutional investor community for supporting the transaction during the signing ceremony for the bond issue that took place on Tuesday at the company s Obaretin Estate Benin Edo Nwabuko said the bond issue was 24 percent underwritten and had a coupon price of 12 85 percent Presco sought to raise N30 billion but the order book closed at N74 billion so the company chose to issue an additional 15 per cent to investors thus raising a total of N34 5 billion Stanbic IBTC Capital Ltd acted as lead issuer of the bond issue while CardinalStone Partners Ltd and Quantum Zenith Capital and Investments Ltd acted as joint issuers of the bond issue Nwabuko said We are pleased with our first bond issue and grateful to our institutional investor community for supporting the transaction This is a landmark transaction for Presco and has expanded our long term funding sources The success of this transaction demonstrates the resilience of our business its strong cash generation and a long term future with enormous potential for sustainable growth in a fundamental sector for the country s agri food promotion strategy which made its positioning possible in Nigeria the largest country in Africa palm oil product market This is supported by Agusto Co s rating and GCR s A rating Caption From left to right Director of Fice Presco Plc Mr Kenneth Crocket Managing Director Presco Plc Mr Feix Nwabuko Managing Director Stanbic IBTC Funsho Akere and Acting Group CEO Siat Group Mr Jan Van Eykeren at the signing of Presco Plc N34 5billion Series 1 Bond on Tuesday in Benin Edo StateHe said the bond would be listed on the Nigerian Exchange Ltd and the FMDQ Securities Exchange Also speaking Mr Funso Akere CEO of Stanbic IBTC Capital said Stanbic IBTC Capital CardinalStone Partners and Quantum Zenith Capital are delighted to have advised Presco on its first issuance in the Nigerian debt capital markets We thank the institutional investor community for supporting the issue as its success should encourage other similar companies to access the domestic debt capital markets for their strategic financing needs We also thank the Presco board of directors and management for giving the issuers carte blanche to guide the process Stanbic IBTC Capital is particularly pleased to have worked on this historic issue having handled Presco s Initial Public Offering and listed on the Nigerian Exchange Ltd two decades ago Additionally Quantum Zenith Capital Managing Director CEO Kennedy Ichibor and Michael Nzewi of Cardinal Stone praised the firm for creating an environment conducive to the transaction They praised the company for maintaining its growth path over the years
    Presco issues N34.5bn bond
    Business8 months ago

    Presco issues N34.5bn bond

    Presco Plc has announced the issuance of N34.5 billion Series 1 seven-year fixed rate bonds under its N50 billion bond issuance programme.

    This is contained in a statement that Nwabuko, the company's Managing Director, made available to the Nigerian News Agency in Benin on Tuesday.

    Nwabuko said the bond attracted participation from a wide range of investors, including pension funds, asset managers, insurance companies, banks and high net worth individuals.

    He praised the institutional investor community for supporting the transaction during the signing ceremony for the bond issue that took place on Tuesday at the company's Obaretin Estate, Benin, Edo.

    Nwabuko said the bond issue was 24 percent underwritten and had a coupon price of 12.85 percent.

    “Presco sought to raise N30 billion, but the order book closed at N74 billion, so the company chose to issue an additional 15 per cent to investors, thus raising a total of N34.5 billion.

    "Stanbic IBTC Capital Ltd acted as lead issuer of the bond issue, while CardinalStone Partners Ltd and Quantum Zenith Capital and Investments Ltd acted as joint issuers of the bond issue."

    Nwabuko said: “We are pleased with our first bond issue and grateful to our institutional investor community for supporting the transaction.

    “This is a landmark transaction for Presco and has expanded our long-term funding sources.

    “The success of this transaction demonstrates the resilience of our business, its strong cash generation and a long-term future with enormous potential for sustainable growth, in a fundamental sector for the country's agri-food promotion strategy, which made its positioning possible. in Nigeria, the largest country in Africa. palm oil product market.

    "This is supported by Agusto & Co's + rating and GCR's A- rating."

    Caption: From left to right: Director of Fice, Presco Plc, Mr. Kenneth Crocket, Managing Director, Presco Plc, Mr. Feix Nwabuko, Managing Director, Stanbic IBTC, Funsho Akere and Acting Group CEO, Siat Group, Mr. Jan Van Eykeren, at the signing of Presco Plc N34.5billion Series 1 Bond on Tuesday in Benin, Edo State

    He said the bond would be listed on the Nigerian Exchange Ltd and the FMDQ Securities Exchange.

    Also speaking, Mr. Funso Akere, CEO of Stanbic IBTC Capital, said: “Stanbic IBTC Capital, CardinalStone Partners and Quantum Zenith Capital are delighted to have advised Presco on its first issuance in the Nigerian debt capital markets.

    “We thank the institutional investor community for supporting the issue, as its success should encourage other similar companies to access the domestic debt capital markets for their strategic financing needs.

    “We also thank the Presco board of directors and management for giving the issuers carte blanche to guide the process.

    "Stanbic IBTC Capital is particularly pleased to have worked on this historic issue, having handled Presco's Initial Public Offering and listed on the Nigerian Exchange Ltd two decades ago."

    Additionally, Quantum Zenith Capital Managing Director/CEO Kennedy Ichibor and Michael Nzewi of Cardinal Stone praised the firm for creating an environment conducive to the transaction.

    They praised the company for maintaining its growth path over the years.

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