Browsing: CBN

CBN technically devalues Naira, sets rate at ₦380 per dollar. The Central Bank of Nigeria sold naira at ₦380 per dollar to deposits money banks on Friday, the move that analysts said that may end multi-tiered exchange rate regime.

COVID-19: CBN hacks rates, creates N50bn facility to support Healthcare, Hotels, Airlines others The Central Bank of Nigeria (CBN) has…

Zenith Bank spreads into retail lending, says won’t fly M&A for managerial hubris. Zenith Bank Plc. has said that retail banking is now its major focus as the management pitched organic growth strategy.

Nigeria records N2.23 trillion positive trade balance as imports grow 28.8%. The Nigerian economy has recorded a favourable trade balance of N2.232 trillion in 2019, data provided by the National Bureau of Statistics has shown.

Access Bank earnings pick as lender builds Pan-African footprint

Analysts advocate reforms, say CBN’s impossible trinity pursuits unsustainable. The Central Bank of Nigeria seems to have demystified the impossible trinity but experts at WSTC Securities Limited has put question mark on its sustainability.

Increased foreign exchange interventions drain external reserves – Analysts. Analysts WSTC Securities Limited has connected the downward slope in gross external reserves amount to an increased intervention of the Central Bank of Nigeria in the investors and exporters (I&E) window.

FX: Naira Remains Stable Despite Sloppy Reserves, Coronavirus Outbreak. In the foreign exchange market, Naira remained strong at direct pair with foreign currencies last week.

Zenith Bank: Equity analysts upgrade estimates as lender’s earnings arouse sentiment. Zenith Bank Plc. raked in profit too steep for envious corporate titans to benchmark in 2019. Now, the die is cast; the financial service supermarket has crossed the Rubicon as the group earned N6.60 on every share outstanding in 2019.

Declining yields: Local investors shift to foreign currency investments. Analysts have observed that local investors are shifting from murky investment environment into foreign currency investments due to declining yields in the market.