Author: Marketforces Africa

Capital importation: $5.8 billion flows into Nigeria’s economy in first quarter. Nigeria benefited from foreign investment flow amounted to $5.8 billion in the first quarter of 2020 amidst global disruptions.

Ahead of the rescheduled Monetary Policy Committee meeting of the Central Bank of Nigeria, Meristem Securities, Vetiva and others have predicted that the policy rates would be maintained.

Average prices of foods, transportation and health care among other needs have been projected to increase for month. Investment bankers have estimated uptick in headline inflation rate for the month of May, projected to spike to 12.43%.

CBN FX Adjustment Put Banks Minimum Capital Base below $70 Million. The Central Bank of Nigeria recent foreign exchange (FX) adjustment has rub off on capital position of banks, as a result experts are expecting capital raise for operators.

Nigerian Stock Market is Going Vertical, Impressively The Nigerians Stock Exchange is going vertical, and that will be sustained given some developments in the financial market. Stock market is gaining, and last few weeks performances have shown that the market is creating wealth for investors, again. Now, NSE capitalisation has crossed the Rubicon, growing strongly to more than N13 trillion mark. It is not about the recent growth, though. It is about financial market outlook. Where are Nigerians investing their money, really? The golden rule hasn’t changed: buy low, sell high – that is how to make profit in equities…

The bulls tightened their grip on the Nigerian Stock Exchange, pushing it to positive territory on all trading days last week. It was a full week of bullish performance. Then, Unilever stock emerged as the best performing stock, gained 33.86% to close at ₦17.

Contributions to COVID-19 relief fund now ₦27.160 billion – CBN. The Nigeria Private Sector Coalition against COVID-19 (CACOVID), has so far contributed about N27.160 billion to help fight the coronavirus pandemic.

FirstBank Provides Free E-learning, Targets 1 Million Students First Bank of Nigeria Limited says it is targeting one million students in free electronic learning solutions platform in partnership with Roducate and Lagos State Government. Dr Adesola Adeduntan, the bank’s Chief Executive Officer, stated this on Thursday, in a statement in Lagos. Adeduntan said the gesture was in furtherance of the bank’s resolve to close the gap of the disruption in children’s education due to schools’ closure following the COVID-19 pandemic. Adeduntan said thousands of students had already signed up to access the e-learning solutions, noting that the bank’s target was…

The Economic Commission for Africa (ECA), African Development Bank (AfDB) and African Union Commission (AUC) on Friday inaugurated the second Africa Regional Integration Index (ARII 2019). The index comes with a call to action, for economies on the continent to deepen their integration.

Stock Market Capitalisation Rises to ₦13.135 on Improve Sentiments The prevailing bullish sentiment continued on the last trading day of the week as Nigerian Stock Exchange market cap hit ₦13.135 trillion. Investors’ fortunes increased by ₦233 billion following price appreciation in some large and medium cap stocks. Similarly, the All-Share Index increased by 446.36 points or 1.80 percent to close at 25,204.75 against 24,758.39 achieved on Thursday. On the price movement chart, Mobil led the gainers’ table, increasing by ₦19.40 to close at ₦213.90 per share. MTN Nigeria followed with ₦4 to close at ₦115, while BUA Cement gained ₦3.40…