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After losing $520 million in two weeks, Nigeria’s External Reserves rise

Nigeria’s foreign exchange reserves depleted by as much as $303 million over the past six weeks, data from the Central Bank of Nigeria (CBN) has shown. Recall that the country’s external reserves did peak at $43.2 billion by January 2019, after suffering a major setback in Q4 2018. However, the recorded success was short-lived because, the CBN […]

Naira Gains Marginally Against Dollar In Parallel Market

The Naira on Wednesday gained marginally against the dollar at the parallel market in Lagos, exchanging at N358 to the dollar. The  naira had exchanged at N358.20 to the dollar on Tuesday. The Pound Sterling and the Euro closed at N470 and N406 respectively. At the Bureau De Change (BDC) segment, the naira traded at […]

Naira Gains In Parallel Market On Wednesday –

Spread the love                        The Naira on Wednesday gained marginally against the dollar at the parallel market in Lagos, exchanging at N358 to the dollar. The News Agency of Nigeria reported that the naira had exchanged at N358.2 to the dollar on Tuesday. The Pound Sterling and […]

The nature of Nigeria’s ban on Boeing 737 Max 8

Yesterday, news went round that the Nigerian Government has joined the list of countries banning the Boeing 737 Max 8 jets. According to the reports, Nigeria’s Minister of State for Aviation, Mr Hadi Sirika, made the Government’s decision known in Abuja, yesterday, at the end of the Federal Executive Council (FEC) meeting. The Minister said the […]

Nigeria could learn from Ray Dalio’s ‘How the Economic Machine Works’ |

When I read the book “Principles” by Ray Dalio, I immediately made a decision to adopt him as a virtual mentor. Ray Dalio is a 62 year old American investment guru who runs Bridgewater Associates, one of the biggest hedge fund managers in the world, with Asset Under Management (AUM) of $150 billion. Recently, my […]

Robust Demand Sees Significant Drop in T-bills Yields at The PMA

Thursday, March 14, 2019 06:19 AM / Zedcrest Capital KEY INDICATORS Indicator Value Commentary Inflation 11.37% As at February 15, 2019. A c.7bps decline from 11.44% recorded in December 2018 MPR 14.00% Left Unchanged for the 15thConsecutive Time at the Jan. 22, 2019 MPC Meeting External Reserves $42.87bn As at March 12, 2019. A c.0.12% […]

Nigeria’s rising debt profile bad for economy, say senators – Punch Newspapers

Sunday Aborisade, Abuja Members of the Senate on Wednesday started discussions on the general principles of the 2019 budget, describing the nation’s rising debt profile as alarming and unhealthy for the economy. The Debt Management Office, in its official website published that the nation’s foreign and domestic debt stock as of September 30 2018, stood […]

MTN Nigeria’s Investment in Network Expansion Hits N2.5trn

Chief Executive Officer, MTN Nigeria, Ferdi Moolman Kunle Aderinokun and Obinna Chima The Chief Executive Officer, MTN Nigeria, Ferdi Moolman, Wednesday put the total value of investment made by the telecommunication company since its entrance into the Nigerian market at N2.5 trillion. Moolman, who disclosed this during an interactive session with journalists in Lagos, said […]

MTN’s Listing On NSE To Boost Economy – Stakeholders

LAGOS – Stakeholders in the nation’s capital market have stated that the listing on the floor of the Nigerian Stock Exchange (NSE) by Africa’s leading telecommunication giant, MTN will boost the national’s capital market and the economy as a whole. Lukman Otunuga, FXTM Research analyst, while speaking to the media in Lagos on Wednesday, said the […]

MTN to proceed with IPO once tax case is settled

MTN Group Limited intends to proceed with plans to raise capital through an Initial Public Offering (IPO) on the Nigerian Stock Exchange (NSE) in Q2 2019, once it resolves the $2 billion tax dispute with Nigerian authorities. A spokesman to the company, Mr Tobe Okigbo, disclosed this today in Lagos, while fielding questions from journalists. In […]

NSE returns to positive territory after yesterday’s drop – Nairametrics

NSE returns to positive territory after yesterday’s drop  Nairametrics The Nigerian Stock Exchange closed in the green today. The All Share Index ended today’s trading session at 31,360.23 basis points, up 0.15 %. Year to date …

More troubles for Boeing as Norwegian Air demands compensation for grounded flights

Days after the ill-fated Ethiopian Airlines flight 302 crash in Addis Ababa, Norwegian Air is demanding compensation for the grounding of its 737 Max 8 jets. The demand is coming after authorities in China, Singapore, Malaysia, and many EU countries have all grounded Boeing’s improved 737 jets. The company has at least eighteen Boeing 737 […]

Golden Sugar Company wins global food safety award

Flour Mills of Nigeria Plc’s subsidiary has won The Global Food Safety Initiative (GFSI) Awards in Nice, France. The award was announced during this year’s GFSI conference in Nice, which brings industry leaders together to discuss the key food safety trends in the FMCG sector. The Awards intend to reflect the diversity of the GFSI […]

Inflation to Ease to 11.31% in February—FSDH

By Modupe Gbadeyanka The research arm of Lagos-based financial institution, FSDH Merchant Bank, has said it expects inflation rate for the month of February 2019 to moderate to 11.31 percent from 11.37 percent recorded a month earlier. In its Inflation Watch report, FSDH Research said the drop in inflation will defy electioneering spending, which was […]