Nigeria’s inflation rate rose by 12.82% (year-on-year) in July, compared to 12.56% recorded in June 2020. This is the highest rate recorded in 27 months since March 2018 when headline inflation was 13.34%. This information is according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). Nigeria’s inflation rate […]
The value of loans given to the private sector by Nigerian banks increased by N3.5 trillion –from N16.251 trillion in June 2019 to N18.632 trillion as at the end of May 2020. Breakdown of loans At the end of June 2019, a total of N15.13 trillion was given to the private sector. The figure increased
Banks’ loans to private sector increase by N3.50 trillion in one year – CBNRead More »
Foreign investors tempted into buying Nigerian debt paying interest of 13% a year ago are unable to move their cash out of the country. Worse still, the rate that investors now earn for lending money to the government by purchasing 12-month Treasury bills has dropped to a 10-year low of 3.2%. On top of that,
Bond Buyers Stranded in Nigeria Face Prospect of 100% LossRead More »
A leading global investment banking firm, Goldman Sachs Group, this week, predicted that a significant devaluation of the naira is expected within the next 12 to 18 months. The investment firm believes this will help bring about “the desired balance” required to stabilize the currency. This was contained in an exclusive Bloomberg Terminal report published
Nigerian’s Should Expect “A Significant Devaluation” To N550/$1 – Goldman SachsRead More »
Nigerian Stock market ended Wednesday’s trading session on an impressive note. The All Share Index gained 1.04% to close at 25,141.48 basis points as against -0.58% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.34%. Investors gained N134.5 billion. Trading turnover, however, closed negative as volume moved plunged by -0.84% as against +17.84%
AIRTEL, SEPLAT, GUINNESS record impressive gains, investors gain N134.5 billionRead More »
Nigeria’s exchange rate at the NAFEX window appreciated significantly to N385.50 during intraday trading on Thursday, August 6, 2020. In another development, the exchange rate at the parallel market remained unchanged on Thursday as it closed at N474/$1 after exchanging as high as N486/$1. Parallel Market: At the black market where forex is traded unofficially, the Naira remained
Exchange rate gains big at NAFEX as forex turnover pops 916%Read More »
