Author: Marketforces Africa

Amid demand pressure in the fixed income market, the Debt Management Office (DMO)

Market Temperature Rises as CBN Floats OMO Auction Again The money market records retail foreign exchange auction pressure on funding as the apex bank floated open market operations (OMO) auction Thursday first time in the last two month. As investors scramble for strong return,  the financial system liquidity open higher at ₦510 billion from ₦235 billion yesterday. However, funding pressures increased, due to provisioning for the retail FX auction, says Chapel Hill Denham. Consequently, the Open Buy Back and Overnight rates spiked by 14.60% and 16.01% to 17.60% and 19.80%, respectively. Analysts remarked that sentiments remained mildly bullish in the…

Nigeria’s Unemployment Rate Swells to 27.1 Percent. Overall employment declined by 11.1 million in Q2 20 compared to Q3 18. Unemployment rate increased 398 bps to 27.1% in Q2 20. Female unemployment surged 1.4 million compared to decline in Male unemployment of 559,061

Inflation Rate to Tick Up by 0.08% in July – Meristem. Analysts at Meristem Securities Limited have projected an uptick in July inflation rate by 0.08% to 12.64%. The nation’s headline inflation has been on ascendancy for 11-months straight before it peaked 12.56% in June, according to NBS

PenCom Plans Retirement Savings Account Transfer Window. The National Pension Commission (PenCom) is set to allow contributors move their Retirement Savings Account (RSA) through a transfer window from one Pension Fund Administrator (PFA) to another, provided that it is not more than once in a year.

Airtel Partners Standard Chartered Bank to Drive Financial Inclusion

Brent Crude Fell to $45.31 after IEA Lower Forecast. Brent Crude fell 0.3 per cent to $5.31 per barrel on Thursday after the International Energy Agency lowered its 2020 oil demand forecast.

FBNH: We Want To Regain Our Leadership in Banking Sector – GMD

Anchor Borrowers Programme: NYFN urges CBN to include regional crops

Guinness Nigeria’s Profit Estimated to Drop by 86%, Downgrade to Sell. Guinness Nigeria Plc. is facing a very tough time, the brewer’s profit is projected to drop by 86% in 2020 as investment firm advised investors to dump the stock to avoid losing value.