Author: Marketforces Africa

MPC and the Three Evils of Unemployment, Interest & Inflation Rates. The Central Bank of Nigeria’s (CBN) Monetary Policy Committee will be meeting today to reflect on developments in the local and global economies and how it affects it choice of policies.

SEC to streamline market investment processes, says DG. The Securities and Exchange Commission (SEC) has promised to streamline processes involved in getting back investments in the market to boost investors’ confidence.

FAAC Shares N651.18 Billion to FG, States, LGs in June. The Federation Accounts Allocation Committee (FAAC) has shared N651.18 billion Federation Account Revenue to the federal, states and local government councils and relevant agencies for the month of June.

Tough Tasks for MPC as Inflation Rate Outpaces MPR. Tough job for the Central Bank of Nigeria’s Monetary Policy Committee as headline inflation which settled at 12.56% in June outpaced the benchmark interest rate of 12.50%, thus further widened negative return in the fixed income market.

Bond Auction: DMO Reduces Total Borrowing Plan for Q3:2020. The Debt Management Office, DMO, has indicated plan to lower borrowing target for the third quarter, (Q3:2020) as reflected in its bond auction calendar.

Nigeria’s Inflation Rate for June Spikes to 12.56%. Nigeria’s inflation rate for June rises to 12.56%, the National Bureau of Statistics, NBS, has revealed in its June report.

NDIC Seeks Collaboration with CBN in Banks Licensing. The Nigeria Deposit Insurance Corporation (NDIC) has emphasized the need for the corporation to be involved in the process of licensing banks in collaboration with the Central Bank of Nigeria (CBN).

Jaiz Bank to pay maiden dividend of ₦884mn to shareholders. Shareholders of Jaiz Bank Plc are to receive a total of ₦884 million dividend payment subjected to appropriate withholding tax.

Oil Prices Ease as OPEC, Allies Agree to Scale Back Production Cut. Oil prices eased on Thursday after the Organisation for Petroleum Exporting Countries (OPEC) and allies, such as Russia, agreed to taper record supply curbs from August.

643 new cases lift Nigeria’s COVID-19 total infections to 34,259. The Nigeria Centre for Disease Control (NCDC) has announced 643 new COVID-19 cases in the country as total infections from the virus rise to 34,259. The NCDC disclosed this on its official twitter handle on Wednesday.