The NSE Boards and the introduction of the Growth Board
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Senate confirms Obiora as CBN deputy governor
Friday, January 31, 2020 Nigeria gets $813 million from cashew export Minister of Agriculture, Sabo Nanono, yesterday, disclosed that the cashew sub-sector generated over $813million between 2015 and 2017…….read more. Senate confirms Obiora as CBN deputy governor The Senate, yesterday, confirmed the appointment of Dr. Kingsley Obiora as a Deputy Governor of the Central Bank…
CBP Business News Headlines:
Thursday, January 30, 2020 Nigeria owes World Bank $9.81bn, says DMO The total debt owed to the World Bank Group by Nigeria rose by $1.3bn in one year to $9.81bn as of September 2019…..read more ‘N2tn pension fund for infrastructure’ll come via bonds’ The N2tn proposed to be raised from the Contributory Pensions Fund for…
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CBP Business News Headlines: What CBN’s new CRR means for banks, economy
Wednesday, January 29, 2020 FG recorded N4.62tn fiscal deficit in 2019 — CBN The Federal Government recorded a fiscal deficit of N4.62tn in its operations in the 2019 fiscal period, figures obtained from the Central Bank of Nigeria have revealed…..read more. Regulators undecided about Coronavirus surveillance at Nigerian seaports As coronavirus spreads like…
Airtel Africa 9 months results: Revenue growth, stable OPEX, reducing leverage, EBITDA expansion…recipe for true value.
“Our financial performance in Q3 was strong as we delivered double-digit revenue growth in both reported and constant currency. Revenue growth accelerated in Q3 to 14.2% as a result of improved performance in the Rest of Africa, supported by solid results in Nigeria and East Africa. This is now the eighth consecutive quarter that we…
CBP Business News Headlines: Discos to reflect 7.5% VAT
Tuesday, January 28, 2020 Discos to reflect 7.5% VAT on transactions Feb 1 There are indications that power distribution firms across the country plan to reflect the new Value Added Tax of 7.5 percent on all their transactions from February 1, as announced by the Federal Government….read more. Stockbrokers jittery about…
MPC raise CRR to 27.5% in the face of surging liquidity
The Monetary Policy Committee (MPC) held its 271st meeting on the 23rd and 24th of January, 2020. The Committee noted the current environment of sluggish global economic recovery and financial market vulnerabilities, and tepid domestic growth. Highlights of the Committee’s decision: The Committee by a decision of 9 members, voted to alter the Cash Reserve…
Finance Act 2020: Bits & Insights
Signed into law by President Muhammadu Buhari on 13th January 2020, the Finance Act (“the Act”) is the first of its kind in over two decades. Among other objectives, the Act seeks to promote fiscal equity, introduce incentives to encourage capital market and infrastructure investments, support small businesses and boost Government revenues. The star of…
This Week in the Capital Market (13-17/01/2020): Devaluation, Inflation, Stock Market, Yields
The need to preserve your wealth: lessons from Dangote “As of March 2019, he had an estimated net worth of US$10.6 billion. Dangote is ranked by Forbes magazine as the 100th-richest person in the world and the richest man in Africa, and peaked on the list as the 23rd-richest person in the world as at 2014” Wikipedia Within 5 years he dropped from 23rd to 100th, What…