Browsing: CBN

Price Instability: CBN Projects 14.15% Inflation Rate for 2020. The Central Bank of Nigeria (CBN) said it is expecting inflation rate to hover around 13.97% and 14.15% by December 2020, a wide gap from its single-digit inflation targeting of 6% to 9%.

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.

Naira Depreciates Despite Foreign Exchange Sales Resumption. Against expectation, the Nigerian local currency, naira, depreciates despite the resumption of the apex bank weekly intervention foreign currency (FX) sales.

Nigeria’s Public Debt Profile Escalates to ₦31trn in June, 2020. Nigeria’s total public debt expanded to N31 trillion in the first half of 2020 amidst growing concerns in the economy about attendance cost of servicing the obligation and its sustainability.

Zenith Bank: How Cash-Rich Lender Defied Gloomy Estimates…

FX liquidity Could Trigger Foreign Investors Exits. Stranded foreign investors may find an exit route from the Nigeria’s financial market as foreign exchange as foreign exchange liquidity improves.

Analysts Expect Rates to Remain Subdue Until Friday FX Auction. Rates are expected to remain subdued until the foreign exchange auction on Friday, analysts have hinted.

PMI: Economic Recoveries in Nigeria, Others Could Disappoint in Q3. Given the latest data from the Nigeria’s central bank purchasing managers index (PMI), analysts said economic recoveries could disappoint against expectation in the third quarter of 2020.

Yields Drop as DMO Roll over 87% of Maturing Bills. Again, in the just concluded week yields on Treasury Bills declined due to surplus liquidity and the recently published fourth quarter of 2020 Nigerian Treasury Bills (NTB) auction calendar.

Big Banks’ Profits Rise 4% in H1:2020 Earnings Season. With stronger than expected first half 2020 profitability records, the Nigeria’s bulge bracket balance sheet deposit money banks earnings performance defied COVID-19 to show strengths.