26 C
Friday, September 25, 2020
CBN to Commence Phase Implementation of Basel III Accord. The Central Bank of Nigeria (CBN) has revealed plan to commence phase implementation of third Basel accord or Basel III standard to ensure safety and soundness of financial service risk management system.
Interbank Rates Drop amidst Rising System Liquidity Interbank funding rates dropped further yesterday, as financial system liquidity opened higher at N281 billion from N255 billion in the previous session. The Open Buy Back (OBB) and Overnight (OVN) rates declined by 1.08% and 1.05% to 4.67% and 5.33% respectively.
Nigerians to Pay More for Petrol as Oil Prices Rise
Recapitalisation: AIICO Insurance ₦3.5 billion Right Issues Opens AIICO Insurance is offering ₦3.5 billion worth of rights issue to its shareholders as part of efforts to leap forward in its recapitalisation journey. Segun Olalandu, Head of Marketing and Strategic Communication, said this in a statement in Lagos on Tuesday. He said that the...
Economic Growth: Heritage Bank to Supports Youth Entrepreneurs Heritage Bank Plc says it will support youths entrepreneurs to grow businesses either as start-ups or prospective owners amid the global economic challenges brought about by the outbreak of COVID-19 pandemic. Ifie Sekibo, Managing Director and Chief Executive Officer of the bank, said this in a statement in Lagos. Sekibo said...
Naira Remains Resilient as CBN Sets to Resume FX Sales to BDCs. Nigeria’s local currency, Naira, maintained strong position this week amidst the apex bank plan to resume its weekly intervention sales.
FX: Parallel Market Rate Hits Resistance Level - Analysts
Inflation Rate to Tick Up by 0.08% in July – Meristem. Analysts at Meristem Securities Limited have projected an uptick in July inflation rate by 0.08% to 12.64%. The nation’s headline inflation has been on ascendancy for 11-months straight before it peaked 12.56% in June, according to NBS
African Trade Insurance: President Buhari finalises Nigeria's membership President Muhammadu Buhari has signed the instrument of ratification to the African Trade Insurance Agency's (ATI) treaty. Membership in ATI provides African countries with additional trade and investment insurance capacity, which helps cushion against the negative economic impacts of COVID-19. Sherry Kennedy, the...
Neimeth Plc: Analysts Advised Investors to Sell despite Enhanced Profitability WSTC Securities Limited has advised investors to offload Neimeth Pharmaceutical Plc stock, though the firm recognised the company's enhanced profitability. Despite the sell recommendation, analysts stated that they remain optimistic of the growth prospects of the company. The investment firm said...