Tag: NOVA Merchant Bank

6.1% GDP Contraction: Dust Yet to Settle – Analysts. Amidst a 6.1% contraction in gross domestic products, analysts said they expect second round effects of the economic disruption in the form of massive layoffs in the formal sector, corporate defaults, tightening of financial conditions and weaker

CBN to Continue to Pressure Banks to Drive OMO Stop Rates Down. Nova Merchant Bank said it expects the Central Bank of Nigeria to continue to pressure banks to drive Open Market Operations (OMO) stop rates lower.

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.