CBN’s CRR adjustment triggers equities’ 28 per cent weekly loss The nation’s equities market suffered its first weekly loss in 2020 as the impact of the CBN’s hike in the Cash Reserve Ratio (CRR) by 500bps to 27.5 per cent spurred sell-off in banking stocks… read more. Domestic debt service of N607b and quests for…
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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…
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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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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…
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“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…
DetailsTuesday, 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…
DetailsThe 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…
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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…
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