Author: Marketforces Africa

Covid-19: Is the pandemic a win for regionalisation? Covid-19, along with the related disruptions to the movement of goods and people, has compounded the challenges facing globalisation.

Naira Depreciates Against Dollar at Investors and Exporters Window. As global oil prices moderate in the week, Naira depreciates against dollar at the Investors and Exporters foreign exchange window.

Stock market sustained positive momentum lifts All-Share Index. The Nigerian Stock Exchange continues its bull run as the equities segment sustained a positive performance. Week to date, the All-Share index gained 0.3% to close at 25,267.82 points.

President Buhari reconstitutes NNPC Board. President Muhammadu Buhari has approved the reconstitution of the Board of the Nigerian National Petroleum Corporation (NNPC). This President made the call after the expiration of the term of the board members appointed in 2016.

Air Peace lifts off 301 Chinese from Nigeria. Air Peace has airlifted 301 Chinese from the Murtala Muhammed International Airport (MMIA), Lagos to Guangzhou Baiyun International Airport.

Meristem predicts MTNN stock could rise 36% by December. MTN Nigeria Plc stock has more than 35% upside potential, analysts at Meristem Securities Limited stated this in an equity report. Estimates on the company hinge on expectation of solid performance in the financial year 2020.

FirstBank rolls out virtual accounts opening for customers. FirstBank of Nigeria Limited has rolls out simplified online accounts openings for customers. The lender has effectively put in place measures to enable customers open accounts through their mobile phones, without visiting its banking halls.

Adesina: No nation has veto power on AfDB – African leaders. No fewer than 15 former African Presidents on Friday rallied support for President of African Development Bank (AfDB), Dr. Akinwumi Adesina, lauding him for taken the bank to amiable heights.

The Great Lockdown: Worst Economic Downturn Since Great Depression. International Monetary Fund Managing Director Kristalina Georgieva made the following statement today following a conference call of G20 Finance Ministers and Central Bank Governors:

ARM Securities Forecasts Nigeria’s GDP to Shrink 1.95%. ARM Securities Limited has estimated that Nigeria’s economy will contract 1.95% in the second quarter of 2020. The assets and resources management firm stated this in a macroeconomic research document obtained by MarketForces.