Banking Investments/Capital Market Latest News Planning & Economic Development

Fidelity Bank Redeems $400Mn Eurobond Notes

Fidelity Bank Plc has announced the redemption of the US$400 million Eurobond Notes due October 17, 2022. The lender had on October 17, 2017, successfully issued a US$400 million 5-year Eurobond, which included a Tender Offer for the refinancing of the bank’s US300 million Senior Unsecured Notes issued in May 2018. The transaction, which was […]

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During The Conferment Of Africa Most Innovative Digital Transformation Governor of the Year Award by Foreign Investment Network (FIN) To Central Bank Of Nigeria (CBN) Governor, Godwin Emefiele On The Sidelines Of The International Monetary Fund/World Bank Annual Meetings in Washington D.C, United States Of America

Nigeria’s Central Bank Governor, Mr. Godwin Emefiele, (2nd Left Front Row) displaying his Africa Most Innovative Digital Transformation Governor of the Year Award by Foreign Investment Network (FIN), on the sidelines of the International Monetary Fund/World Bank Annual Meetings in Washington D.C, United States of America

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Africa Requires $2.6Trn To Tackle Energy Poverty

A new report by PriceWaterhouseCoopers (PwC), a global accountancy and auditing consulting firm, has estimated that Africa will require about $2.6 trillion to drive energy transition and bridge its widening energy gap over the next 30 years. The firm, in its latest ‘Africa Energy Review 2022’, indicated that the continent was not likely to achieve […]

Investments/Capital Market Latest News Planning & Economic Development

Analysts Forecast Sustained Upbeat Trend In Equities Market

Investment analysts at Bancorp Securities Limited, one of Nigeria’s investment research firms, on Monday projected that trading in the nation’s equities market would be upbeat ahead of investors’ expectations towards the third quarter earnings reports by listed entities. Specifically, in the firm’s ‘Weekly Stock Recommendations: Oct 17th – Oct 21st  2022’ sourced by our correspondent, […]

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Nigeria’s Inflation Rate Hits 20.77% In September

The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, reported on Monday that the nation’s Consumer Price Index (CPI), which measures inflation rate, surged to 20.77 percent in September year-on-year (Y-o-Y), representing the highest rate in the past 17 years. The statistics agency, in its latest Consumer Price Index (CPI) September […]

Banking Foreign Exchange (Forex) Latest News Planning & Economic Development

Naira Depreciates, Exchanges N742/$1 At Black Market

Nigeria’s currency, the Naira, on Monday sustained its weakening value trend at the foreign exchange (FX) market over the past few days, exchanging at N742/$1 during the early morning trading at the parallel market. The latest exchange rate of the local currency indicated a further slide in its exchange value for the dollar by about […]

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Nigeria Loses N120Bn Yearly To Sourcing Advert Materials From Overseas – ARCON

The Advertising Regulatory Council of Nigeria (ARCON) has estimated that the nation’s advertising industry is losing over N120 billion annually to production of advertising, advertisement and marketing communication materials outside the country. The Director-General of ARCON, Dr. Olalekan Fadolapo, who gave this figure in a statement, pointed out that the development had continued to impact […]

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UK Chancellor Backtracks On Dividend Tax Cut Measures

The new British Chancellor, Jeremy Hunt, has scrapped his predecessor’s plans to reduce the tax paid on dividends. In his mini-budget at the end of September, Kwasi Kwarteng announced that he would be rolling back Rishi Sunak’s plans to increase the basic rate of tax paid on dividends from 7.5% to 8.75%. A news report […]

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Equities Market Upbeat, As Investors Gain N118Bn W-o-W

The Nigerian equities market closed trading activities on a positive note on Friday due to price appreciation in GTCO, ZENITH, and others. Consequently, the Nigerian Exchange Limited All Share Index (NGX ASI) and the Market Capitalization increased by 0.09%, while the Year-to-Date return stood at 11.36%. The All Share Index closed at 47,569.04 against the […]

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Nigerian Exchange, U.S Consulate Collaborate To Boost Investment, Trade

The United States Consulate and Nigerian Exchange Limited (NGX) on Friday announced their decision to collaborate on boosting investments and trade between Nigeria and the United States. The partnership was made public at the Closing Gong Ceremony held to commemorate the US Consul General’s courtesy visit to NGX on Friday, 14 October 2022. In his […]