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T-bill Yields Compress as Funding Pressures Ease


Tuesday, February 20,  2019  06:00 AM / Zedcrest Capital 
***700 Jostle for FG’s Gas Flare-out Scheme*** KEY INDICATORS Indicator Value Commentary Inflation 11.37% As at February 15, 2019. A c.7bps decline from 11.44% recorded in December 2018 ...
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Normalised national currency as growth elixir


Expectedly, the IMF release was sweet music to the CBN which proceeded in the January 2019 ... Indeed, in Nigeria's case today, correct conversion of crude oil receipts to naira amounts alone (regardless of the dollar amount ...
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CBN Buoys Market With $210m — Leadership Newspaper


The Central Bank of Nigeria (CBN) has made a fresh injection of $210 million into the inter-bank foreign exchange market in its determination to boost supply in that sector of the market. Figures released by the Bank on Tuesday, February 19, 2019, indicated that it offered the total sum ...
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CBN directs banks to cut appetite for govt’s securities, oil assets


The Central Bank of Nigeria (CBN) yesterday directed commercial banks to moderate their appetite for investing in government securities and oil and gas assets. Government securities include Federal Government of Nigeria (FGN) Bonds and Treasury Bills (TB). Its  Deputy Governor, Edward Lametek, who spoke at the last Monetary Policy ...
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Nigerians in diaspora remittance contribute 6.1% to GDP


Nigerians in Diaspora sent an estimated $25 billion in remittance to the country in 2018, representing 6.1% of the nation’s Gross Domestic Product, a PricewaterhouseCoopers Economic Outlook Report disclosed. Nigeria’s migrant remittance inflow was also 7 times larger than the net official development assistance (foreign aid) received in 2017 of ...
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Naira still strong despite election odds, says ABCON – The Sun Nigeria


The naira has in over 18 months remained stable at both the official and parallel markets despite several odds facing it ahead of the 2019 general elections, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, has said. Speaking recently to financial journalists in Lagos, the ...
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CBN Avoids OMO Sale, as System Liquidity Dips to Negative


Monday, February 18 2019  06:00 PM / Zedcrest Capital 
***Pension fund equals 7.4% of GDP at N8.63trn*** - PENCOM KEY INDICATORS Indicator Value Commentary Inflation 11.37% As at February 15, 2019. A c.7bps decline from 11.44% recorded in December ...
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Nigerian assets fall as election delay fuels uncertainty


The naira weakened on the forward market on Monday and Nigerian stocks fell as investors worried that delaying elections for a week could lead to a contested result, fuelling uncertainty, analysts said. Nigeria's electoral commission over the weekend postponed for one week a presidential election, hours before polls were ...
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Foreign reserves fall to $42.86bn- CBN


The Central Bank of Nigeria has revealed that the nation’s foreign exchange reserves have fallen to $42.86bn, the lowest level in two months.The reserves dropped by $314m in two weeks to $42.86bn on February 14 after it stood at $43.174bn on January 31.The external reserves had risen to a high ...
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FOCUS: How this oil company went from popular to ‘unfamiliar’


It is not all the time that companies decide to change their names. And whenever they do, it is usually for important reasons, which could range from the need to reflect change in ownership, or just an urgent need to rebrand. Whatever the reason, a corporate name change can ...
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NDIC explains factors that led to liquidation of Fortis MfB


By Babajide Komolafe THE Nigeria Deposit Insurance Corporation, NDIC, said that decision to  liquidate the defunct Fortis Microfinance Bank was taken after efforts to resuscitate the bank proved abortive. NDIC Naira appreciates to N362.19/$ AS BDCs unveil automation portal The corporation stated this in response to comments by some ...
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Banks Borrow N1.217tr From CBN — Leadership Newspaper


Banks borrowings from the Central Bank of Nigeria through the Standing Lending Facility increased last week as traders say they expect liquidity to spur this week on the back of N578.98 billion worth of Open Market Operation (OMO) bills that will mature into the system. As against N717.55 billion ...
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External reserves drop to $42.86bn in February ⋆


Nigeria’s foreign exchange reserves is at a two-month low of $42.86bn, according to the latest data from the Central Bank of Nigeria. The reserves, which was at $43.174bn on January 31, dropped by $314m in two weeks to $42.86bn on February 14. It will be recalled that the external ...
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CBN Za Ta Hukunta Bankunan Da Ke Biya Da Takardar Nairar Da Ta Lallace — Leadership Hausa Newspapers


Babban Bankin Nijeriya CBN ya ci tarar bankuna dake da takardar naira data lalace naira miliyan daya ko wannen su. Bankin na CBN ya sanar da hakan ne a cikin sanarwar da ya turawa daukacin DMB don biyan tarar dagam ATM dinsu a ranar larabar data gabata mahukuntan bankin ...
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‘APC will open CBN’, Political analyst claims as she expose politicians traveling with bags of cash ahead of elections


According to a report, there was a brief clash among some party members who boarded a private aircraft at Abuja airport with over 15 bags of cash filled with both Naira and dollars. This reportedly happened yesterday, few hours hours to the proposed elections. The allegation was made known ...
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Naira stands firm in the midst of election odds, says ABCON


The naira has in over 18 months remained stable at both the official and parallel markets despite several odds facing it ahead of the 2019 general elections, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji (Dr.) Aminu Gwadabe has said. Speaking to journalists in Lagos, the ...
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/ / FX News

Naira Loses 0.28% at Parallel Market, Gains 0.02% at I&E


Naira Loses 0.28% at Parallel Market, Gains 0.02% at I&E ... The value of Naira to the United States Dollar depreciated this week by 0.28 percent at both ... amid weekly injections of $210 million by the Central Bank of Nigeria (CBN) ...
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CBN advises FG to revisit redesigning of naira


The Central Bank of Nigeria (CBN) on Wednesday advised the Federal Government to revisit the issue of redesigning the naira notes. Speaking during an interactive session with the House of Representatives Committee on Banking and Currencies, Sanusi Lamido Sanusi, the CBN governor, said redesigning the naira would be a ...
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Naira stays strong despite election odds, says ABCON


….Applauds CBN, BDCs reforms The naira has in over 18 months remained stable at both the official and parallel markets despite several odds facing it ahead of the 2019 general elections, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji (Dr.) Aminu Gwadabe has said. Naira Speaking ...
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INEC’s shift of the 2019 elections may have cost Nigeria over N500 billion


Kelechi and Ifeoma had fixed their wedding for Saturday, February  23, 2019, six months ago. They had toiled all through last year to raise the wedding expenses. A hall has been paid for, and wedding invites printed. The intending couple has however been at their wit’s end, since today’s ...
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NURTW silent on postponement of elections – The Eagle Online


Alhaji Nojeeem Yasin, President of the National Union of Road Transport Workers on Saturday maintained silence on the postponement of the general elections in the country.Alhaji Nojeeem Yasin, President of the National Union of Road Transport Workers on Saturday maintained silence on the postponement of the general elections in ...
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Teenage actress Regina Daniels acquires multi-million naira Mercedes Benz ▷ Nigeria news


Success is not age bound. These days, even young people are achieving great things that might take others several years.The Nigerian entertainment industry is home to a number of talented individuals whose skills have paved a way for them.One of such talents is teenage Nollywood actress, Regina Daniels. The ...
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