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Saturday, December 5, 2020

Moody’s Says Nigerian Banks Diversifying, Expanding can withstand Global shocks

Nigerian banks expanding into the rest of the continent or diversifying into other financial services will be better insulated from shocks than they were during the global financial crisis, according to Moody’s Investors Service. Lenders including Access Bank Plc and Guaranty Trust Bank Plc are...

MPC: CBN retains MPR at 11.5 % to exit economic recession

By Kadiri Abdulrahman Abuja, Nov. 24, 2020 The Central Bank of Nigeria (CBN) on Tuesday announced retention of the country’s Monetary Policy Committee Ratio (MPR) at 11.5 per cent. Mr Godwin Emefiele, the CBN governor made this known, while presenting a communique of the banks 133rd...

Nigeria’s richest home grown entrepreneurs bullishly plough money back into Africa’s biggest economy

Home-grown entrepreneurs’ confidence contrasts with caution of overseas investors

Nigeria slumps back into economic recession as Covid bites local businesses, insecurity crisis worsens

Oil price crash brought on by pandemic hits Africa’s biggest economy

Nigeria’s Biggest Lender Access Bank Begins Disbursement of N50bn Interest-free Loan to small business owners affected by Pandemic

Insurers move to assess damages for claims’ payment Access Bank Plc will today commence the disbursement of the N50 billion interest-free loan and grant it set aside for micro, small and medium size enterprises (MSMEs) that were destroyed by hoodlums in the wake of the...

WEEKAHEAD-Nigeria FX: Naira seen lose value against U.S Dollar as importers demand surge looms on festive shopping season

naira slumped to 478 on black market Nigeria's naira is expected to lose value against the dollar in the week ahead as demand pressures from importers build ahead of Christmas shopping season. The naira NGN= is expected to weaken on the black market in the coming...

MPC seen retain benchmark rate at 11.5% with focus to tackle rising inflation

Policy rate: 11.5% Inflation: 14.2% (October) High food prices have kept Nigerian inflation above target since 2015 After a surprise 100 basis point interest-rate cut in September, Nigeria’s central bank will probably leave its benchmark rate on hold as it tries to support growth in Africa’s largest...

With high “Macroeconomic risk, lower risk-free rates, Analysts see investors eyeing returns scope more stocks

With “Macroeconomic risk is high, but risk-free rates are extremely low.” technical charts studied by some analysts to predict market moves suggest the world-beating rally in Nigerian stocks is overdone. Yet, Lagos-based analysts expect local investors seeking returns to keep buying, because they have...

US-led Coalition to Assist Nigeria, Other West African Countries Combat Terrorism…

In the just concluded week, the United States-led coalition committed itself to help Nigeria and other West African countries to combat terrorism in their countries. The global coalition led by US stated that lessons learned from the fight against Islamic State of Iraq and al-sham...

Nigerians Experience Miserable Worsening Unstable and Constant Power Supply Outage As New Electricity Tariffs Kicks Off

In the just concluded week, the Senate warned Nigerians not expect stable power supply soon, given the gross underfunding of the sector and the lack of will on the part of government to get the sector fixed. The position of the Senators was amid the...
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