Reviews

'How oil price may affect rates in economy'

… noted that average oil price much below $58 per barrel means the CBN will have to keep rates very high and could even challenge the Naira-dollar …

Bond Yields Test Key Support as Offshore Inflows Bolster NAFEX Rate

Tuesday, January 15, 2018/ 08:30PM / Zedcrest Capital ***Sub-Saharan Africa to grow 3.8% in 2019*** – IMF KEY INDICATORS Indicator Value Commentary Inflation 11.28% As at December 14, 2018. A c.2bps increase from 11.26% recorded in October 2018 […]

Naira losses marginally against dollar at parallel market

The Naira on Tuesday lost N1 to exchange at N361 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro traded at N462 and N408, respectively. At the Bureau De Change (BDC) segment, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed […]

Nigeria records the highest crude oil sale in Q3 2018

Nigeria has recorded an increase in the exportation of crude oil from January to September 2018, which is worth about N11.49 trillion compared to N7.77 trillion recorded in the comparative period in 2017. This shows an increase of N2.37 trillion over N9.12 trillion budgeted for 2018 and about N2.67 trillion than the proposed N8.82 trillion for […]

Banks to experience low interest income in 2019

The Head Research at Coronation Merchant Bank (CMB), Guy Czartoryski has said that banks are unlikely to gain huge profits this year due to low demand for loans and poor economic growth. Czartoryski said this yesterday, during the unveiling of CMB’s 2019 Macroeconomic Outlook. According to him, the high yields on treasury bills will also […]

Banks to lose interest on petrol subsidy-induced loans

In a move to reduce the outstanding subsidy debts owed by the Federal Government to oil marketers, the Central Bank of Nigeria (CBN) has asked Deposit Money Banks (DMB) to forgo the interest charged on petrol subsidy-induced loans advanced to oil marketers from June 2017 to December 2018. According to a report, the CBN conveyed the message […]

NSE lifts suspension on C&I Leasing shares

The full suspension placed on trading on shares of C&I Leasing have been lifted after the company informed the Nigerian Stock Exchange (NSE) that the shares consolidation exercise has been completed. NSE had placed two weeks full suspension on C&I Leasing shares to enable the company to embark and complete the share capital reconstruction exercise […]

Wapic Insurance launches ombudsman | Nairametrics

An ombudsman desk has been established by Wapic Insurance Plc. in a bid to improve customers’ experience pertaining to insurance. During the inauguration in Lagos on Friday, the Managing Director and Chief Executive Officer of Wapic, Yinka Adekoya said the office was instituted to receive complaints across Nigeria and investigate disputes between a company and […]

Access/Diamond obtain CBN and SEC approval in principle

Tier one lender, Access Bank and Diamond Bank, yesterday, gave an update on its merger plans as well as key issues pertaining to the individual banks. The banks disclosed this during a press briefing held yesterday. Present at the event were Victor Etuokwu (Executive Director, Personal Banking at Access Bank), Robert Giles (Head, Retail Diamond Bank), Chioma Afe (Head, Corporate Communications, Diamond […]

Naira rebounds marginally against dollar

The Naira made a modest gain of 50 kobo against the US dollar to close at N360 on Monday. The British Pound Sterling sold at N472 while the Euro closed at N411 on Monday as well. Bureau De Changes in […]

Banks Unlikely to Post Larger Profits in 2019, Says CMB

Coronation Merchant Bank Limited (CMB) has predicted that commercial banks in the country will be unlikely to post large gains in profits this year. The investment bank which stated this in its 2019 Macroeconomic Outlook released yesterday, also anticipated that the banks would be unlikely to experience much loan growth, given the weak economy and […]

CMB: Banks unlikely to post larger profits in 2019

FxMallam Coronation Merchant Bank Limited (CMB) has predicted that commercial banks in the country will be unlikely to post large gains in profits this year. The investment bank which stated this in its 2019 Macroeconomic Outlook released yesterday, also anticipated that the banks would be unlikely to experience much loan growth, given the weak economy […]

Banks’ profits to drop over weak loan demand

Banks are unlikely to post large  profits this year due to weak loan demand and poor economic growth, Head, Research at Coronation Merchant Bank, Guy Czatoryski has said. Speaking yesterday during the unveiling of the 2019 economic outlook by the bank in Lagos, he  said the weak demand for loans is affecting banks’ profitability and […]

Coronation Merchant projects 2.25% GDP growth for 2019

*Says TB rates will average 17% By Babajide Komolafe Coronation Merchant Bank, yesterday, projected that Nigeria’s economy will grow by 2.25 percent in 2019. Head of Research, Coronation Merchant Bank, Guy Czatoryski, disclosed this while presenting the bank’s Economic Outlook for 2019. “We expect growth to be 2.25 percent in 2019. Consumer demand is very […]