Wednesday, September 23, 2020 Interest rate cut to 11.5% means more liquidity for banks, savings rate drop Nigeria’s central bank’s surprised deeper easing of its benchmark interest rate by 100 basis points to 11.5 percent yesterday from 12.5 percent in May 2020 is seen to translate to more liquidity for banks and further drop in…
DetailsTuesday, September 22, 2020 Naira stable as 5,090 BDCs await $50.9m sales from central bank Tuesday Nigeria’s currency was stable on Monday, trading at N465 on the black market as 5,090 Bureau De Change (BDC) operators await $50.9 million allocation from the Central Bank of Nigeria (CBN) on Tuesday. The CBN has changed the dollar…
DetailsMonday, September 21, 2020 Daily Headlines Why Heineken’s acquisition of NB stocks matters for brewers Heineken Brouwerijen B.V, largest shareholder of the Nigerian Breweries (NB) stocks, has over the last two months consistently purchased units of NB’s stocks, increasing its shares in the company. As of 2017, the percentage of Heineken issued share capital stood at…
DetailsFriday, September 18, 2020 Nigerian insurers’ average return on equity tumbled in 2019 It’s been clear for a number of years that insurance companies return on equity (ROE) has been waning, with the impact of deteriorating underwriting margins, combined with weak investment performance and spiralling inflation all impacting the profitability of the sector. The added…
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