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Thursday, November 26, 2020

Naira Strengthens as CBN Continues Forex Sales

The average money market rate rose by 3.15% to settle at 4.44% from 1.29% in the previous week. The Open Buy Back (OBB) rate closed at 4.00% compared to 1.00% the previous week while Overnight rate (OVN) closed at 4.88% compared to 1.58% in...

Nigeria’s Monthly Inflation to Remain Stubbornly High in Q4’20

Our monthly market survey shows that there was a further build-up in inflationary pressures in September in both the food and non-food basket. This points to an increase in headline inflation towards a range of 13.56%-13.63% in September and further reaffirms analyst consensus that...

Q4’20 FX Outlook: Stability in Diversity

SSA Currencies: Stability indiversity Risk-off sentiments, triggered by COVID-19, pummelled several emerging and frontier currencies in the first half of the year. Petro-currencies, such as the Nigerian Naira and the Angola Kwanza, had to endure even more pain as both currencies have weakened by 6.2%...

LCCI reviews state of economy, advises policy makers

By Rukayat Moisemhe Lagos, Oct. 6, 2020 The Lagos Chamber of Commerce and Industry (LCCI) has advised policy makers on the formulation and implementation of policies to facilitate sustainability as business operators grapple with the devastating impact of the COVID-19 pandemic. Mrs Toki Mabogunje, President, LCCI....

Shopping Smart In The Face of a Looming Recession

By OpEd by Olukayode Kolawole   Covid-19 pandemic has left the world in dire straits by causing a recession from which global economies will have to wait till 2022 for recovery. The World Bank 2020 Global Economic Prospect, June 2020, forecast that the pandemic will plunge...

Rights Of A Tenant And Landlord In Nigeria

The real estate industry in Nigeria involves millions of people but is hardly regulated by any official documents. Plus, many landlords and tenants prefer to enter verbal agreements without signing any legal paperwork. However, both the tenant and the landlord are still entitled to...

Nigeria’s debt profiling: Drawing a nexus between Jonathan and Buhari Administrations

The Debt Management Office on Wednesday, 9th September, announced that Nigeria’s public debt has risen to N31.01 trillion at the end of June. Debt profiling: Drawing a nexus between Jonathan and Buhari Administrations Debt profiling: Drawing a nexus between Jonathan and Buhari Administrations – www.brandspurng.com As of...

Nigeria’s total merchandise trade slumps amid COVID19 pandemic – PFI Capital

Nigeria's total merchandise trade stood at N8.30 trillion in Q1'20 (equivalent to c.23% of nominal GDP during the same period) with total import printing at c.51% of total trade while total export represent c.49% of total trade. We note a trade deficit of N138.98...

Pandemic-driven disruption will lead to modest recovery in second quarter 2020

The rapid global spread of the coronavirus has led to a deteriorating economic outlook, sharply lower oil prices and broad financial market upheaval, generating an unprecedented credit shock across many sectors worldwide. Our current baseline economic scenario assumes pandemic-driven disruption of economic activity through...

Moody’s Completes Periodic Review of Ratings of Nigeria’s Economy

Moody's Investors Service ("Moody's") reviews all of its ratings periodically in accordance with regulations - either annually or, in the case of governments and certain EU-based supranational organisations, semi-annually. This periodic review is unrelated to the requirement to specify calendar dates on which EU...
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