34 per cent of commercial loans held by public sector Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the CBN’s Standard Lending Facility (SLF) to borrow funds, […]
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World Bank calls for sovereign debt changes ahead of looming recession Cold attitude to reforms harming domestic investment outlook, experts say ‘Challenge western countries but with better policy options’ Nigeria’s Eurobond rises by about 100% in six months Nigeria is gradually inching towards a financial ‘blockade’ at the international financial market, as its working relationship […]
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The pressure on the foreign exchange market continued on Tuesday, with the dollar exchanging at N615 at the parallel market in Lagos and Abuja. This is even as the percentage of local raw materials sourced by Nigerian manufacturers declined to 52.4 per cent in 2021, from 57.5 per cent obtained in 2020, according to data […]
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Investors net worth on the Nigerian Exchange Ltd dropped further by N146 billion on Friday due to losses posted by some major blue chips. Specifically, the market capitalisation lost N146 billion or 0.71 per cent to close at N20.278 trillion, from N20.424 trillion reported on Thursday. Also, the NGX All-Share Index dipped 279.55 points or […]
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as operators grapple with COVID-19 fallouts Unilever, Cadbury, Meyer, others suffer loss amid weak spending Stop trend to avert job loss, social unrest, experts tell FG Capital market operators have expressed worry that the prolonged coronavirus pandemic and attendant Foreign Exchange (Forex) illiquidity may cause investors to lose their dividends this year. The pandemic and […]
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Analyst links incidence to macroeconomic headwinds Following the adoption of IFRS 9, about 10.9 per cent of the loan book in the banking industry, representing ₦1.5trillion are in Stage 3 (impaired), as at December 2018, according to the recently released banking industry report by Agusto & Co. The figure represents 15 per cent increase in […]
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The naira on Monday traded at N359.04 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N465 and N404, respectively. At the investors window, the naira closed at N360.59 to the dollar , as market turnover stood at 217.08 million dollars. Trading at the Bureau De Change […]
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The Central Bank of Nigeria (CBN) has injected 210 million dollars into the various segments of the market to sustain its intervention in the Inter-Bank Foreign Exchange Market. Mr Isaac Okorafor, CBN Director, Corporate Communications, made this known in a statement on Tuesday in Abuja. Okorafor said that the apex bank offered 100 million dollars […]
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The financial services sector yesterday reacted negatively to the uncertainty in the nation’s political environment as investors priced in the risks of election postponement on the stock market and exchange rate. The development came just as analysts polled by The Guardian at the weekend predicted that investors and financial transactions would plummet as a first […]
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Renewed bargain-hunting on some blue-chip companies, especially Unilever and Dangote cement, aided transactions on the Nigerian Stock Exchange (NSE), causing market capitalisation to increase by N14 billion. Specifically, at the close of trading yesterday, the All Share Index (ASI) was up by 39.76 absolute points, representing an increase of 0.12 per cent to close at […]
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