Browsing: CBN

Access Bank to Charge Customers for Accrued Stamp Duty. Access Bank Plc said it will need its customers accumulated stamp duty on transactions value at #10,000 and above between February 1 and April 30.

‘FX Scarcity, Supply Chain Disruption Support Rising Inflation’. Analysts have explained the trend behind rising headline inflation rate to include scarcity of foreign exchange, disruption in supply chain among other reasons.

FX Market: Naira Depreciates Against Dollar at IEW. The local currency, Naira, depreciated against the United States dollar (USD) at Investors and Exporters Window (IEW) this week.

Credits to Private Sector Increase to ₦28.67 Trillion. Credits to private sector increased by 1.51% to ₦28.67 trillion in the month of April, Cowry Asset Management Limited stated in a financial market review note.

Fixed Income Market Records Mix Performance amid Rising Inflation Concern. Amidst rising inflation rate, the fixed income market recorded a mixed performance. Chapel Hill Denham said while average secondary T-bills rate remained unchanged at 3.02%, average discount rate on secondary OMO bills fell further by 5 basis points (bps) to 4.62%.

Nigeria’s Headline Inflation Rate Rises to 12.40%. The Nigerian Bureau of Statistics (NBS) recent data shows that the consumer price index (CPI) which measures inflation increased by 12.40 % year-on-year in May 2020.

2020 Budget: Debt Service Cost Includes Capital Repayment, Interest – FG. The Federal Government has said debt service provision in the 2020 budget includes capital repayment, interest obligations and other charges.

PMA: Demand for Low-risk Investment Options to Fuel Subscription. Analysts have said that increasing demand for low-risk investments option would support demand at the Federal Government bond auction on Wednesday.

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.