Author: Marketforces Africa

Following the order of Honourable Justice M.S. Hassan of the Federal High Court, Lagos division, the Asset Management Corporation of Nigeria

Price Instability: CBN Projects 14.15% Inflation Rate for 2020. The Central Bank of Nigeria (CBN) said it is expecting inflation rate to hover around 13.97% and 14.15% by December 2020, a wide gap from its single-digit inflation targeting of 6% to 9%.

Neither Buy, nor Sell Stanbic IBTC Share, Analysts Advised Investors. Stanbic IBTC Holdings Plc posted an impressive first half of 2020 result underpinned by double-digit growth in the bottom line amidst economic challenges worsen by COVID-19 pandemic.

Naira Depreciates Despite Foreign Exchange Sales Resumption. Against expectation, the Nigerian local currency, naira, depreciates despite the resumption of the apex bank weekly intervention foreign currency (FX) sales.

Sustained Bullish Outing Lifts NSE Cap to ₦13.35 trillion. Sustained bullish activities reflated the performance of the Nigerian equities market amidst various economic challenges. 

Nigeria’s Public Debt Profile Escalates to ₦31trn in June, 2020. Nigeria’s total public debt expanded to N31 trillion in the first half of 2020 amidst growing concerns in the economy about attendance cost of servicing the obligation and its sustainability.

Brent Crude Drops to $38.99/Barrel amidst Rising Stockpiles…

How to Raise Loan to Finance Your IT Business from Access Bank. Technology is the future of mankind. Those that have the information technologies skills have one thing in common: they always end up as an IT business owners.

SMDP: FirstBank Promotes Staff, Graduates Career Development. First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has graduated 12 successful candidates in the third edition of its Senior Management Development Programme (SMDP).

Fixed Income: Investors to Maintain Preference for Short-term Offers Analysts at Chapel Hill Denham said investors are likely to continue to express preference for short dated securities amidst vulnerable economic fundamentals. In the money market, rates trended marginally lower, and remained within low single digits, even as financial system liquidity opened substantially lower at N287 billion compare to N481bn in the previous day. Commenting on the market behaviour, analysts expressed believe that liquidity was supported by Open Market Operations (OMO) maturities totaling N250bn that hit the system. “We expect funding pressures to increase significantly tomorrow, as a result of the…