Category: Capital Market/Banking

CBN Injects $337.16m, 56.17m CNY Into Retail Secondary Market Intervention Sales
November 3, 2018 No Responses

CBN Injects $337.16m, 56.17m CNY Into Retail Secondary Market Intervention Sales

The Central Bank of Nigeria (CBN) on Friday said it injected 337.16 million dollars in the retail Secondary Market Intervention Sales (SMIS) in its first intervention in the inter-bank foreign market for November. A statement issued in Abuja by Isaac...
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CBN Unveils Guidelines For Payment Service Banks
November 2, 2018 No Responses

CBN Unveils Guidelines For Payment Service Banks

As part of measures to promote a sound financial system and  enhance access to financial services for low income earners and unbanked segments, the Central Bank of Nigeria (CBN) on Thursday unveiled operational guidelines for Payment Service Banks (PSBs).  T...
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GM Reports $2.5B Profit In Q3
November 1, 2018 No Responses

GM Reports $2.5B Profit In Q3

Stronger-than-expected results in China and North America propelled General Motors to a 25 percent increase in pretax profit in the third quarter and net income of $2.5 billion.  Meanwhile, Revenue increased 6.4 percent to $35.8 billion during the period. The...
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How To Transform Societies, Change Lives Through Capital Markets, By Arunma Oteh
November 1, 2018 No Responses

How To Transform Societies, Change Lives Through Capital Markets, By Arunma Oteh

At the recent 58th Annual General Meeting of World Federation of Exchanges (WFE) in Athens, Arunma Oteh, Vice President of the World Bank  took part in a fireside chat with Nandini Sukumar, CEO, WFE where Arunma spoke about how “exchanges...
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Access Bank Declares N375b Earnings, N62.9b Profit In Q3
October 23, 2018 No Responses

Access Bank Declares N375b Earnings, N62.9b Profit In Q3

Access Bank Plc has announced top line earnings of ₦375.2 billion for the nine months ended 30 September 2018, up 3% from N365.1 billion recorded during the corresponding period in 2017.  The Bank’s Profit after Tax (PAT) increased 12% to...
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PFAs Invest N1.49t In Treasury Bills
October 22, 2018 No Responses

PFAs Invest N1.49t In Treasury Bills

Not less than N1.49 trillion have been invested by Pension Fund Administrators (PFAs) in Treasury Bills.  According to the monthly National Pension Commission (PenCom) report released at the weekend in Abuja by its spokesman, Peter Aghahowa, the PFAs invested...
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Nigeria Injects $337m, CNY53m Into Inter-Bank Forex Market
October 20, 2018 No Responses

Nigeria Injects $337m, CNY53m Into Inter-Bank Forex Market

In another round of intervention, the Central Bank of Nigeria (CBN), on Friday, October 19, 2018 injected over $337 million in the inter- Bank forex market. The CBN intervened in the Retail Secondary Market Sales (SMIS) to the tune of...
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Senate To CBN: Suspend ATM Charges
October 18, 2018 No Responses

Senate To CBN: Suspend ATM Charges

The Nigerian Senate has urged the Central Bank of Nigeria(CBN) to suspend the Automated Teller Machine(ATM) card maintenance charges pending the outcome of investigation into alleged sharp practices by banks. The senate also resolved to invite the Governor of ...
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Nigeria Seeks $2.86b Loan From International Capital Market
October 10, 2018 No Responses

Nigeria Seeks $2.86b Loan From International Capital Market

PRESIDENT Muhammadu Buhari on Tuesday requested Senate’s approval for a fresh $2,868,540,000 external loan.   In a letter addressed to the Senate President, Bukola Saraki, Buhari explained that the loan  would be used to partly fund the 2018 budget. Accord...
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Nigeria Commits N1.7 Trillion To Capital Investment
October 9, 2018 No Responses

Nigeria Commits N1.7 Trillion To Capital Investment

Vice President Yemi Osinbajo says the Federal Government has spent N1.7 trillion in capital investment in two budget years. Osinbajo disclosed this while addressing participants at the 9th Presidential Quarterly Business Forum held at the State House Banquet H...
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Sterling Bank Intensifies Debt Recovery Drive
October 8, 2018 No Responses

Sterling Bank Intensifies Debt Recovery Drive

Sterling Bank Plc has said it would always adopt amicable resolution or when necessary, drastic legal actions to achieve debt recovery outcomes.   According to the Bank, such strategies include restructuring for accelerated payoffs and possible foreclosure or...
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Nigeria Lifts Forex Market With $334m, CNY 52m
October 7, 2018 No Responses

Nigeria Lifts Forex Market With $334m, CNY 52m

Further to its commitment to ensure stability in the inter-bank foreign exchange market, the Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Sales (SMIS) to the tune of $334,146,393.84. A breakdown of the forex intervention figures....
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World Bank Downgrades Sub Sahara Africa Growth Forecast To 2.7 per cent
October 4, 2018 No Responses

World Bank Downgrades Sub Sahara Africa Growth Forecast To 2.7 per cent

The World Bank has cut its forecast for growth of sub-Saharan Africa in 2018 to 2.7 per cent, down from an earlier 3.1 per cent, partly due to less favourable external environment for the region. The lender said in its...
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CBN Boosts FOREX Market With $210
October 4, 2018 No Responses

CBN Boosts FOREX Market With $210

  The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market.   Figures obtained from the CBN on Wednesday, October 3, 2018, indicate that authorized dealers in the wholesale segment...
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