Author: Marketforces Africa

Foreign exchange: Trading of Naira Largely Stable Across Markets

The money market activities remained generally upbeat throughout the week, despite an open market operations (OMO) auction for instruments worth N166.6 billion. The short and mid tenor instruments were under-subscribed with bids-offers settling at 0.15x and 0.03x respectively for the 93-day ( with N7.4 billion offered and subscription of N50.0 billion at 11.80% stop rate – 11.800%) and 184-day ( with N50.0 billion offered, and N0.5 billion subscription at 12.90% stop rate) instruments. However, the 359-day instrument was 2.8x oversubscribed, with N100 billion offered, N284.5 billion subscription at 13.029% stop rate).  Also, in the Treasury bills secondary market, activities were…

Sell pressure drag market index Down 1.2% over the week

Debt sustainability risk: Weak revenue collection expands FG’s fiscal deficit

FG inaugurates Abuja School of pensions, retirement planning

Nestle Nigeria on Thursday in Port Harcourt unveiled a new Maggi product called Maggi Signature in the South-South region of the country. Mr Dele Gbadeyan, Nestle Nigeria Sales Manager for Rivers Region, said during the launch that Maggi Signature was borne out of a research effort to satisfy customers.

Fidelity Bank Plc on Thursday announced gross earnings of N48.4 billion for the first quarter of the financial year 2019. According to the report, the gross earnings represented a growth of 11.8 per cent when compared with N43.3 billion achieved in the comparative period of 2018.

Oyo Assembly passes Family Planning Bill

Brent oil rose above $75 per barrel on Thursday for the first time this year as quality concerns

AfDB signs $50m agreement with Natixis to boost trade finance in Africa