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Budget 2019: Endangered By Unrealistic Exchange Rate

Godwin Emefiele Jerry Uwah Even with a budget proposal that appears dead on arrival, there are glimmers of hope for road users in all parts of the country during the year. The federal government has an elaborate plan for road rehabilitation and construction. In the south-south, the planned rehabilitation of the Odukpani-Ugep stretch of the […]

Dollar to Naira black market rate today Monday, 14th January 2019

Dollar to Naira black market rate today Monday, 14th January 2019 Naira stays firm against dollars, drops against others Dollar to Naira black market rate today Monday, 14th January 2019 is N358/N362.  The Exchange rate of dollar to naira has seen the NGN Naira have mixed fortunes against the USD Dollars during the course of last year. At a point last […]

Naira closes flat at interbank as CBN Injects $263m, CNY 39m into retail SMIS

Story by Kayode Tokede The local currency, Naira closed flat at N306.9 against the dollar at the Central Bank of Nigeria (CBN) interbank market as it continues to see support from apex bank’s intervention sales. The Naira against the Dollar was at N306.95 in prior’s week interbank market of the CBN from N307 it closed […]

Nigerian SMEs sector to receive N12 billion boost

In a bid to bridge the gap for financing in the Small and Medium Enterprises (SMEs) sector, the Afrinvest West Africa has partnered Syntaxis Capital Africa. The partnership will see the firms float a N12 billion private equity fund, which is expected to be injected into the SMEs in various sectors of the Nigerian economy. Some of the sectors include […]

Market/Economic Insight: The Weekly Brief (January 7th – 11th 2018)

The performance of the Nigerian Equity Market returned bearish last week with the index (lASI) down by 2.64% WTD to close at an index level of 29,830.70 and Marketcapitalization of N11.12 trillion. The Market sentiment was negative as profit taking waswitnessed in all sectors with the exception of the Industrial Goods Sector, up by 1.00%. […]

Money Market Rate Decreased As Overnight Rate Fell to 22.50%

Monday, January 14, 2019 12:27 PM / Anchoria AM Research   Money Market The money market rate decreased last week as the Overnight rate (OVN) and Open Buy Back (OBB) fell to 22.50% and 20.00% respectively. Consequently, the average money market rate fell by 0.62% to settle at 21.25% as the System liquidity is estimated […]

Power, interest rate, others slowed business in 2018, CBN says

Business activities were slowed down by an insufficient power supply, high-interest rates and other challenges in 2018 financial period. This was disclosed in the ‘monthly business expectations survey report’ by the Central Bank of Nigeria’s Statistics Department in December 2018. The CBN, in the report, stated that “firms identified insufficient power supply, high-interest rates, unfavourable […]

Dangote Refinery begins installation of a major refinery equipment

The Fluid Catalytic Cracking equipment for Dangote Oil Refinery Company Limited has arrived Lagos, even as the company now prepares to install the monstrous-looking, but a very important device. The company’s management officially confirmed this via a statement, saying that the equipment will serve the refinery which is expected to produce some 650,000 barrels of crude […]

Interest Rate, Others Slowed Business In 2018 — CBN — Economic Confidential

CBN Governor Godwin Emefiele Interest Rate, Others Slowed Business In 2018 — CBN Business activities were slowed down by an insufficient power supply, high-interest rates and other challenges in 2018 financial period. This was disclosed in the ‘monthly business expectations survey report’ by the Central Bank of Nigeria’s Statistics Department in December 2018. The CBN, […]

NCC steps into 9mobile’s ongoing tussle

Nigerian Communications Commission (NCC) has intervened in the current crisis at 9mobile barely days after bid winner, Teleology Holdings Limited pulled out of the telecoms company over disagreement on execution of management services contract. Though, Teleology Limited Holdings and Teleology Nigeria’s dispute is yet to reach NCC for mediation, the executive Vice Chairman of NCC, Prof. […]

CBN To Retire N162b Short-dated Bills Over Costs – Business

The Central Bank of Nigeria (CBN), in the next three months, is expected to remove not less than N162.49 billion from the country’s domestic debt profile, put at N12.29 trillion as at September 30, 2018. The move, coming amid revenue shortages and plans to raise more than N800 billion in the same domestic market for […]

Nigerians are falling More in Love with Digital Payment Systems

The use of cash and cheques as payment instruments for transaction settlements is becoming a thing of the past in Nigeria, thanks to the emergence and the presence of digital payment instruments and systems. Analysis of data from the National Bureau of Statistics indicates that Nigerians transacted much more of their businesses with ATMs than […]

Investors Maintain Appetite for Short-dated Instruments

By Obinna Chima The bond market recorded moderate activities in both the primary and secondary markets last week as investors continued to show preference for short-dated instruments. Nonetheless, the yields on treasury bonds pared moderately by four basis points last week to settle at 15.3 per cent. This, was due to increased buy interest on […]

Agusto & Co Holds Seminar

Agusto & Co is organisation a forum on the 2019 economic outlook titled: “Nigeria in 2019 – Scenario Planning – Sign Posts.”The one-day seminar holds in Ikoyi, Lagos on Friday 18th January 2019. The pan-African rating agency explained that 2019 is full of uncertainties for Nigeria.Some of the issues to […]