The International Monetary Fund (IMF) and the European Commission (EC) have advised African leaders on the need to improve revenue generation, preserve debt sustainability and provide more consessional funding to reduce the current constraints on their countries given the high level of debt and fiscal constraints militating their developmental initiatives. The Breton Woods finance institution’s […]
The Naira appreciated in its exchange rate against the US dollar on Tuesday at the parallel market, to trade at an average rate of N748/$1 compared to the N751/$1 it traded the previous day representing 0.40% appreciation. Some FX dealers attributed the appreciation of the Naira to improving business climate after the Presidential, governorship and […]
The Federal Government’s sovereign bonds auction with four tenors conducted on Monday, March 20, recorded N807.9 billion subscription, representing about 124% higher than the projected subscription value. The bonds offer were the 13.98% FGN FEB 2028 (10-year tenor), 12.50% FGN APR 2032 (10-year tenor), 16.2499% FGN APR 2037 (20-year tenor) and the 14.80% FGN APR […]
The Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee meeting concluded its second meeting for the year on Tuesday, raising the Monetary Policy Rate (MPR), the benchmark lending rate, to 18% from the 17.5% rate set at the committee’s last meeting. The CBN Governor, Godwin Emefiele, who made this disclosure while briefing the media on […]
The Securities and Exchange Commission (SEC) Nigeria has identified investment in and deployment of financial technology (fintech) as crucial in attracting youth participation in the nation’s fast growing capital market and deepening its base. The commission’s Director-General, Mr. Lamido Yuguda, explained that this was why the commission had been encouraging operators to develop the right […]
The Naira sluggishly opened the week on Monday in sustained efforts to strengthen its exchange rate against the US dollar, trading at an average of N751/$1 compared to the N750/$1 it traded last Friday, representing 0.13% depreciation during the trading session. Some FX traders in the Federal Capital Territory (FCT) partly linked the slight depreciation […]
Jaiz Bank Plc, Nigeria’s leading non-interest bank, has appointed Abdulkarim Alhassan as the Executive Director to oversee the Northern Operations of its Business Development. In his new position, Alhassan is expected to facilitate the Bank’s strategic planning and implementation, with a view to driving business growth and profitability in the Northern region. Before his latest […]
The Naira sustained its losing streak at the black market for the third consecutive day on Thursday, depreciating by 0.40% to trade at N755/$1 from the N752/$1 it traded on Wednesday. Some FX dealers linked lower exchange rate of the local currency to current lull in economic activities as buyers’ traffic to the parallel market […]
The Nigerian Communications Commission (NCC) has promised telecommunications service consumers in the country of its commitment, as a consumer-centric industry regulator, improved services from mobile network operators (MNOs) and other service providers on a sustainable basis. The commission’s Executive Commissioner (Stakeholder Management), Barr. Adeleke Adewolu, gave this assurance in his opening remarks at the World […]
The Japanese Government has announced plans to boost cooperation with Nigeria and other Sub-Saharan African (SSA) countries by investing about $30 billion in Nigeria and others between now and year 2025. The Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi, made this disclosure at an event organized by the Japanese Embassy to commemorate the 63rd birthday […]