Foreign Investment Hits 3-Year Low as Nigeria Battles Currency Crisis. Total foreign investment inflow into the economy hits 3-year low as Nigeria battles currency crisis. The National Bureau of Statistics (NBS) data shows that total capital imported into Nigeria contracted 78.6% year on year and 7

Substantial Naira Devaluation Inevitable to Unlock FX Liquidity –CHD. As the Central Bank of Nigeria’s planned foreign exchange (FX) intervention sales set to commence, Chapel Hill Denham has said that substantial naira devaluation is inevitable to unlock liquidity.

Naira: Analysts Anticipate FX Convergence as CBN Boosts Liquidity. There have been moves by the Central Bank of Nigeria (CBN) to boost foreign exchange liquidity, and analysts have started projecting some sorts of convergence in rates.

Nigerian Banks Mispriced below EM Peers despite Higher Returns. Analysts at Chapel Hill Denham have said that deposits money banks are materially mispriced despite history of stronger returns above peers in emerging and frontier markets.

NEM Insurance Rated Hold as Analysts Forecast Marginal Upside. NEM Insurance Plc. has been rated hold by analysts as they cited that higher reinsurance cost pressure underwriting margin.

₦5 trillion Debt: AMCON Wants Senate to Compel Obligors. Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru has renewed the call for legislative support to his agency.

Polaris Bank announces Innocent Ike as Acting MD/CEO. The Board of Polaris Bank Limited and Asset Management Corporation of Nigeria (AMCON), the Bank’s shareholder, has announced the appointment of Mr. Innocent Ike, as the Acting Managing Director/CEO of Polaris Bank Limited, effective Sept. 1.

CBN Grants 9mobile Payment Service Bank License. The Nigeria’s central bank has granted 9mobile, a challenger telecom company, payment service bank licence. 9PSB (Payment Service Bank), a subsidiary of 9mobile, says it has been granted approval by the apex bank to commence operations in the country

NSE to Remain Positive amid Tier-1 Banks Earnings Releases

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.