Author: Marketforces Africa

Treasury Bills: Average yields drop further   Average yield across all tenor dropped 1 basis point to close at 4% at the close of week on Friday. Meanwhile, the market anticipates release of the second quarter T-bills issue program by the apex bank this week. Performance in the Nigerian Treasury Bills market was mixed albeit slightly bullish as average yield across all tenors shed 1bp to close at 4.0% on Friday. Analysts at Afrinvest recalled that the week started off on a bearish note as investors traded cautiously amidst the COVID-19 breakout fears. Sell offs were witnessed on the short and…

GTB: How the godfather of retail banking strategy bolsters earnings, market share Julius Alagbe The struggle to serve its customers and shareholders well has been the top priority of Segun Agbaje, the Group Managing Director and Chief Executive Officer at the Guaranty Trust Bank Plc. The financial service boutique’s blockbuster earnings performance for 2019 was strongly efficient driven. The cost cutting strategy is simple, a no-brainer but tough thing to do at a time when average inflation rate steeply moved and a slowly moving gross domestic product. Again, as usual, Agbaje kept his eyes on the ball irrespective of the…

“Each dollar slump in Oil price cost Nigeria N20 Billion daily. The Nigerian economy is swinging down with the oil market performance after OPEC+ failed supply cut discussion.

Nigeria records N2.23 trillion positive trade balance as imports grow 28.8%. The Nigerian economy has recorded a favourable trade balance of N2.232 trillion in 2019, data provided by the National Bureau of Statistics has shown.

Access Bank earnings pick as lender builds Pan-African footprint

OPEC+ failure to cut supply put Nigeria’s economy in danger. The Nigeria’s economy would bleed as the Organisation of the Petroleum Exporting Countries failed to agree on supply cut due to Russia terms.

Analysts advocate reforms, say CBN’s impossible trinity pursuits unsustainable. The Central Bank of Nigeria seems to have demystified the impossible trinity but experts at WSTC Securities Limited has put question mark on its sustainability.

“FG better placed collaborating with private sector to bridge infrastructure deficit”.

Union Bank reflates earnings, to pay first dividend since 2008. Union Bank of Nigeria Plc has raised earnings performance bar, with gross income coming at ₦159.9 billion, representing a 14% uptick when compare with ₦140.1 billion reported in 2018.

Increased foreign exchange interventions drain external reserves – Analysts. Analysts WSTC Securities Limited has connected the downward slope in gross external reserves amount to an increased intervention of the Central Bank of Nigeria in the investors and exporters (I&E) window.