The dollar swung in Asian trade on Tuesday after a top Federal Reserve official indicated it would hike interest rates further this year, while traders await a speech from their boss Janet Yellen.
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The African Export-Import Bank says it raised a $750 million note under its euro bond initiative–a move to boost lending to African borrowers.
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The market capitalisation of the Nigerian Stock Exchange (NSE) last week bowed to profit taking losing N583 billion with loses by some blue chips.
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Prof. Charles Nwaekeaku of Nassarawa State University, says the Central Bank of Nigeria’s (CBN) interventions in the Foreign Exchange Market (FOREX) is a temporary relief.
READ MOREThe African Export-Import Bank (Afreximbank) said it has successfully raised $750 million note under its Euro Medium Term Note programme, in a move to boost lending to African borrowers who would enjoy the positive effects of the reduction in cost of funds.
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Nigeria hopes to raise at least $1 billion from a scheme that will give tax evaders a chance to make payments retrospectively, the finance ministry said on Friday.
READ MOREThe Central Bank of Nigeria (CBN) on Friday, allocated the total sum of $240 million to the Retail Secondary Market Intervention Sales (SMIS) for spot and forward deals.
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The Bank of Industry (BoI) and Ebonyi State Government have signed a Memorandum of Understanding (MoU) of N2 billion matching fund to empower Small and Medium Enterprises (SMEs) in the state.
READ MORENigeria’s recent tentative steps to free up its naira currency, particularly via a new trading window, have gone down well with some adventurous stock and bond investors who are cautiously returning to the markets they fled two years ago.
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Better days lie ahead for start-ups and early-stage small and medium enterprises (SMEs) in Nigeria as the Federal Government plans to mobilise N2.5 billion annually as equity investments for them under the YouWin Connect Series 1 programme.
READ MOREFinancial Inclusion project got added boost on Tuesday, as the Central Bank of Nigeria (CBN), engaged Ogun State farmers and Small and Medium scale Enterprises (SMEs) operators in a seminar, in Abeokuta.
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About 28 landed properties valued at N13 billion have been handed over to the Pension Transitional Arrangement Directorate (PTAD), as a Pension Legacy Funds domiciled with the company by the NICON Insurance Limited.
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The Naira on Thursday remained stable at N364 per dollar in the parallel market.
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The Nigeria National Petroleum Corporation has completed the refund of N450bn to the federation account, to be shared among the federal, states and local governments.
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Alhaji Aminu Gwadabe, a financial expert on Thursday called for fiscal discipline and professionalism in the banking sector as a way to ensure recovery of the nation’s currency.
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Nigeria sold a five, 10- and 20-year debt at a flat rate of 16.19 percent at an auction on Wednesday to curtail borrowing costs as inflation declines, traders said on Thursday.
READ MOREThe apex bank used the opportunity provided by the financial inclusion fair to educate participants on its numerous real sector intervention programmes.
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The National Council of Privatisation (NCP) has approved that the National Sovereign Investment Authority (NSIA) be allowed to strategically invest in the equity of the Nigeria Commodity Exchange (NCX) to help revitalise its operations within a period of five years.
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After two days of bullish trading, activities on the Nigerian Stock Exchange (NSE) on Wednesday closed negatively with the market indices dropping by 2.62 per cent.
READ MORESecurities and Exchange Commission (SEC) Wednesday announced its approval of the first sovereign Sukuk to be issued by Debt Management Office (DMO).
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Atlas Mara Ltd, the African investment vehicle of former Barclays boss Bob Diamond, said on Wednesday that it plans to raise $200 million to increase its stake in Union Bank of Nigeria and to scale up other businesses.
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The House of Representatives Ad-Hoc Committee on Federally-owned Development Finance Institutions (FDIs) on Tuesday called for reorganisation of the Nigerian Economic Reconstruction Fund (NERFUND), over unpaid loan of about N17 billion by debtor.
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Tokyo’s Nikkei rallied Tuesday as the dollar extended gains against the yen on fresh indications the Federal Reserve will lift interest rates again this year, while technology firms tracked a sector rebound on Wall Street.
READ MORENigeria’s foreign exchange reserves fell for nine days in a row as the the Central Bank of Nigeria (CBN) on Monday, injected a total sum of $195 million into the inter-bank forex market.
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The Asset Management Corporation of Nigeria (AMCON) on Monday said at least 350 individuals in the country currently owe banks a total sum of N2.5 trillion.
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The Asset Management Corporation of Nigeria (AMCON) has described debtors of the corporation as economic saboteurs and should be made to fulfill their obligations for economic growth.
READ MOREThe Central Bank of Nigeria, CBN, has expressed concern over the low level of credit penetration in the country which is estimated at 5.3 per cent of the nation’s adult population.
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Indications have emerged that Deposit Money Banks will soon start to raise dollar-denominated loans, especially Eurobonds, as the naira continues to appreciate.
READ MORENigeria’s central bank on Friday held two auctions to sell treasury bills worth 286.8 billion naira ($939.56 million), traders said, as the regulator moved to tighten liquidity and curb speculation on the local currency.
READ MOREThe Central Bank of Nigeria on Thursday said its new currency window for investors had handled $2.2bn of trade in six weeks.
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