Browsing: CBN

Foreign Exchange Inflows into IEW Drops Strongly in Q2. Foreign exchange accretion into the Importers and Exporters Window went southward in the second quarter of 2020.

CBN Moves to Converge FX Rates to Raise Average Price Level. The Central Bank of Nigeria moves to achieve convergence in the foreign exchange market will raise headline inflation, FSDH has said.

Expected credit loss amid aftermath of the coronavirus outbreak. At transition date in 2018, Deloitte Nigeria in one of its reports faulted application of the International Financial Reporting Standard 9 by the Nigerian Banks.

Deregulation: It is unrealistic to continue subsidy – FG The Federal Government of Nigeria has said that it is unrealistic to continue with Petroleum Motor Spirit subsidy. Chief…

‘Economic, Regulatory Pressures to Suppress Banks Q2 Earnings by 8%’. Amidst concern for economic recession which has generally clouded earnings outlook for 2020, analysts have estimated 8% cuts in banks second quarter earnings.

CBN’s Lending to Deposit Money Banks Hits 2020 High. Reflecting the Central Bank of Nigeria’s hawkish liquidity bias, Standing Lending Facility (SLF) position of deposit money banks (DMBs) hits 2020 high today at ₦350 billion.

‘Concerns around FX adjustment to Dampen Foreign Inflow’. United Capital Plc has said that concerns around further foreign exchange adjustment are likely to discourage large-sized foreign investment, both portfolio and direct inflows for the rest of 2020.

Net FX Position, Hedge Contracts to Help Banks Survive Pressure. The Nigerian banks abilities to survive regulatory and ‘virus’ triggered economic challenges would depend on their structure, net dollar position…

Banks go to IFC for Emergency Working Capital Support. Some of the leading Nigerian Banks are trooping to access facilities from the International Finance Corporation, IFC, the recent pattern has shown.

World Bank Financial Policy Priorities in Response to COVID-19. The World Bank Group expectations for financial policy priorities in responses to coronavirus pandemic is contain in its document and detail the following: