Author: Marketforces Africa

Banks’ Provisions for Retail FX Auction Could Pressure Funding Rates

AFDB President seeks a second term “to serve Africa”

KPMG to Release Digital Channels Ranking for Nigerian Banks. KPMG Professional Services, says it will release Digital Channels ranking for Nigerian banks to urgently scale up on capabilities to deliver products and services via digital channels.

Oil: U.S Output Cuts, China Trade Deal Raise Brent Prices. Brent crude oil prices rose on Wednesday, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and optimism over China-U.S. trade talks.

CBN Moves against Non-Repatriation of Exporters’ FX Proceeds. The Central Bank of Nigeria (CBN) has directed all banks in the country to submit the names, addresses and Bank Verification Numbers (BVN) of exporters that have defaulted in repatriating their exports proceeds for further action.

Voice of Nigeria Season 3: FirstBank Partners UN1TY Media to Promote Nigerian Music

Plunged GDP Fuels Unemployment Fear, Price Instability -Analysts. Declining gross domestic product (GDP) has stirred up fear of rising unemployment rate, price instability in the economy follows 11-month straight uptick recorded before it printed at 12.82% in July, 2020.

6.1% GDP Contraction: Dust Yet to Settle – Analysts. Amidst a 6.1% contraction in gross domestic products, analysts said they expect second round effects of the economic disruption in the form of massive layoffs in the formal sector, corporate defaults, tightening of financial conditions and weaker

Fitch Rates Coronation Merchant Bank ‘B-‘; with Negative Outlook. Fitch Ratings has assigned Nigeria-based Coronation Merchant Bank Limited

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