Author: Marketforces Africa

Mr. Ganguly Soumobroto, Chief Executive Officer (CEO) of CARS45, on Friday said the company acquired Nigeria’s largest online used cars market

Bonds Rates Trend Higher over Pension Commission Directive Bonds yields trend up in response to the National Pension Commission (PENCOM) new directive on Pension Fund Administrators’ marked to market bond portfolio, thus led to slight profit-taking, according to analysts. This helped bond yields to rise marginally by an average of 1bp to 4.12%, specifically due to profit-taking on intermediate bonds, recorded 6 basis points to 4.14%. Generally, sentiments in the fixed income market were broadly mixed amidst robust liquidity in the financial system. On Friday, system liquidity opened substantially higher at ₦919 billion from ₦859 billion, despite the issuance of…

The Central Bank of Nigeria (CBN), says it has so far made a total of ₦3.5trillion disbursements…

Analysts have said that increased default rate in consumers credit line is insignificant to drag banking sector assets quality.

Profit-taking by Equities Investors Halts 2-Day Bullish Run Investors lost N6.3 billion as the Nigerian equities market backpedaled, halting a two consecutive sessions of bullish run after profit-taking activities. Sell-offs in some stocks pull the initial growth downward on Thursday, halting the bullish moves witnessed in the early trading. Chapel Hill Denham stated in a note that it’s worth noting that investors’ interest in tier 1 banking counters had kept the market in the green for most of the period. However, sell-offs on UBN (-3.64%), INTBREW (-5.80%), and FLOURMIL (-2.82%) proved to be the wrench in the works, weighed on…

Despite robust liquidity in the financial system, the Debt Management Office (DMO) today

PPPs attract $8.5bn into Nigerian economy in 10 years – ICRC The Management of the Infrastructure Concession Regulatory Commission (ICRC), says it has in the last 10 years shored up the Nigerian economy with over 8.5 billion dollars generated from Public Private Partnerships (PPPs). The Director-General of ICRC, Chidi Izuwah disclosed this on Thursday in Abuja when he received a delegation of the National Hajj Commission of Nigeria (NAHCON) led by its Chairman, Kunle Hassan. Izuwah, while reeling out the commission’s achievements, said that as at Sept. 30, the ICRC had issued 88 Outline Business Case compliance certificates and 39…

The Nigerian Economic Summit Group (NESG) and the Federal Ministry of Finance…

The United Nations Conference on Trade and Development has said that it has received additional funding of $1.5 million

Debt to Revenue Ratio in SSA Countries Estimated to Cross 480% in 2020