Monthly Archives: June, 2020

Fiscal Deficit: FG Raised 67% of External Borrowing Plan – DMO. The Debt Management Office has told investors that the federal government has raised 67% of its external borrowing plan to finance its fiscal deficit for 2020.

Transcorp Hotels to Raise ₦9.9 billion Rights Issue. Shareholders of Transcorp Hotels Plc have unanimously approved the company’s plan to raise the sum of ₦9.9 billion through a rights issue.

FCMB: Planned Acquisition of AIICO Pension Portends Long Term Value. FCMB group proposed acquisition of AIICO Pension is positive for long term value but could dilute shareholders return by about 26% in the short term, says analysts at Chapel Hill Denham Limited, an investment banking firm.

"Nigeria to Recover Quickly from IMF’s Negative Growth Rate of 5.4%". Cowry Asset Management Limited, an investment banking firm has predicted that Nigeria will recover quickly from the International Monetary Fund’s (IMF) revised negative growth rate of 5.4%.

Brent Crude Drops to $40.19 as COVID-19 Cases Rise. Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading some countries to resume partial lockdowns that could hurt fuel demand.