Author: Marketforces Africa

21 Questions on Pension You Should Be Able to Answer. What is the Contributory Pension Scheme? Contributory Pension Scheme (CPS) is an arrangement where both the employer and the employee

FirstBank rewards its Verve Card holders with free fuel. First Bank of Nigeria Limited said that its customers using Verve Cards had begun to enjoy extra five (5) litres of fuel for every N3,000 fuel purchased using the card at specified periods.

Maize: CBN tells Authorised Dealers to Stop Processing Form M

Total Infections Hit 33,153 as NCDC Adds 595 New Cases of COVID-19. Total infections hit 33,153 as Nigeria’s health agency announced 575 new COVID-19 cases in the country.

FGN Bonds: Bearish Sentiment Resurface as Average Yield Advances. Bearish

Analysts Challenge CBN to Address FX Rates Confusion. Analysts at Chapel Hill Denham Limited have tasked the Central Bank of Nigeria to come clear and state applicable FX rates for official use across segments.

Asset Quality: Banks to Raise Impairment Charges on Credit Losses. The United Capital Plc, a leading investment banking firm headquartered in Lagos, said it expects non-performing loans (NPL) in the banking sector to increase significantly due to substantial exposures to hardest sector.

Analysts Estimate Moderate Dividend Payout for Banks Against the backdrop of development in the economy, experts have said that there will be moderation in banks dividend pay-out ratio in 2020. Despite the gloomy outlook however, Vetiva Capital Limited has also explained that the firm expects dividend pay-out to be relatively strong. Vetiva said: “While we do not expect a year on year increase in dividend pay-out, we do foresee, at least, flat dividend pay-out for 2020”. The firm explained that the banking sector has historically been a dividend paying sector, with the Tier-1 names excluding FBNH paying as high as…

FG moves to actualize N43.24 billion Ibadan Inland Dry Port Talks between Federal Government and China Railway Construction Corporation Limited (CRCC) on the construction of the N43.24 billion Ibadan Inland Dry Port is nearing completion, the Nigerian Shippers’ Council (NSC) said in a statement on Saturday in Lagos. According to NSC, the 80,000 TEU capacity dry port would be built on the basis of Public Private Partnership. Mrs Rakiya Zubairu, NSC Head of Public Relations, said in the statement that CRCC was the preferred bidder for the facility aimed at addressing congestion and gridlocks in Apapa ports. Zubairu noted that…

Foreign Exchange Inflows into IEW Drops Strongly in Q2. Foreign exchange accretion into the Importers and Exporters Window went southward in the second quarter of 2020.