Browsing: CBN

Afrinvest Says Maturing T-Bills Will Keep Money Market Rates Down. Afrinvest, a Lagos based investment banking firm, has predicted that money market rates would stay low in the coming week.

CBN Quarantines ₦2.3 Trillion from Banks’ Deposits in 9 Months. The Banking Sector ability to create credits is threaten follows a humongous amounts that the apex bank sterlised from operators deposits periodically.

Unity Bank Returns to Profitability in 2019, Stays Positive in Q1. After protracted delay in releasing its audited scorecard, Unity Bank Plc on Wednesday declared gross earnings of N44.59 billion for the financial year ended Dec. 31, 2019.

Primary Market Auction: Analysts Expect CBN to Keep Rates Depress. Analysts at Meristem Securities have said that due to the recent policy rate cut, the firm is expecting the Central Bank of Nigeria to keep rates depress across market.

NOVA predicts NAFEX to hit ₦410 as dollar scarcity hinders repatriation. Nova Merchant Bank Limited has predicted that the Nigerian Autonomous Foreign Exchange rate could further weaken to N410 to a dollar.

Jaiz Bank Bolsters Performance as Profit Spikes 193% to ₦2.4Bn. Jaiz bank Plc, a premier non-interest banking financial service operator has revved up its performance, and raised the bottom line.

MPR Cut Positive for FG Borrowing Plan, Negative for inflation. Analysts have interpreted the Central Bank of Nigeria’s Monetary Policy Committee decision to cut rate as part of big plan to reduce the nation’s borrowing cost as budget deficits widened.

CBN adjusts timelines for reversals of complaints on electronic channels. The Central Bank of Nigeria (CBN) has adjusted timelines for reversals or resolution of refund complaints on electronic channels with effect from June 8.

Monetary Policy Committee cuts benchmark interest rate to 12.5%. Against investment banking analysts’ expectations, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Thursday cut the policy rate from 13.5% to 12.5%.

FX repatriation: CBN Governor assures investors of orderly exit