Browsing: Economy

M&A: Investment firm places Unity, Heritage, Keystone Bank on watch list

Unease as external reserves fall to $37.66bn, edge toward resistance level. The latest figure on the Central Bank of Nigeria website

US immigration restraints on Nigerians to raise FX risk, limit remittances

External reserves fell $57.6 million in January, edge toward resistance level. Weak inflow, high usage of dollar inflow into the nation’s external reserve has reduced the external buffer for defending the Nigeria’s local currency, naira.

2019 Budget implementation: CBN raises ₦8.5 trillion overdraft for FG.

Pro-Market Experts Task FG On Market-friendly PPP arrangement. As a key alternative to ramping up debt profile, crowding out private sector in the debt market, experts have advised Federal Government to use market-friendly Public-Private Partnership (PPP) to solve the nation’s infrastructural deficit.

CBN hawkish bias to inverse yields, fragment N900bn from Banks Vaults. Experts have said that the apex bank hawkish bias on cash reserve ratio (CRR) requirement would reverse negative yields, though about N900 billion would be quarantine from Banks vaults.

MPC raises Cash Reserve Ratio by 500 basis points. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Cash Reserve Ratio by 500 basis points to 27.5%.

Rising inflation ruffles analysts, predict end to lower rate era. Analysts are unsettled as headline inflation continues to rise, the situation that pundits have attributed to both monetary and fiscal authorities policy somersault.

FIRS serves tax defaulters notice. The Federal Inland Revenue Service (FIRS) www.firs.gov.ng has served a seven-day notice to tax defaulters across the country.