Protect your investments, SEC urges Nigerian soldiers

February 21, 2020

By Omobayo Azeez   The Securities and Exchange Commission (SEC) has urged officers and men of the Nigerian Army who have already invested in the capital market to explore all available channels to protect their investments. Mary Uduk, the acting director general of the SEC, made this statement in Lagos during a visit to the […]

CBN reclaims over N60bn illegal bank charges for customers

February 20, 2020

CBN reclaims over N60bn illegal banks charges for customers

From Announced plans to create 10m jobs in five years Omobayo Azeez The Central Bank of Nigeria has said that it had refunded over N60 billion to customers who were wrongly charged by banks. Isaac Okoroafor, the apex bank’s director of corporate communications, made the disclosure during two-day customers’ sensitisation forum in Owerri, the Imo State […]

Buhari: All FG’s financial transactions will be open to all soon

February 19, 2020

Buhari: All FG’s financial transactions will be open to all soon

Presidentt Muhammadu Buhari Tuesday in Kaduna said following various reform agenda being implemented by his administration, all government financial transactions would be open for all to scrutinise soon. Speaking in Kaduna at the passing-out parade of “Detective Inspector Course Five”, of the Economic and Financial Crimes Commission (EFCC), the president said he had resolved to […]

Extension of OTC futures to bring calmness to market, curb FX volatility

Adesola AfolabiFebruary 18, 2020

Extension of OTC futures to bring calmness to market, curb FX volatility

Adesola Afolabi Asides infusing more confidence to foreign portfolio investors and foreign direct investors, the recently launched long-dated foreign exchange (FX) futures will sustain calmness and reduce volatility risks in the Nigerian money market. This point of view was shared by Tumi Sekoni, managing director at FMDQ Securities Exchange last Friday, following the introduction of […]

CBN forex intervention hits $43.5bn in 15 months

February 17, 2020

Foreign reserves dropped by $4.47bn in 2019 –CBN

The Central Bank of Nigeria injected over $43.52bn to defend the nation’s currency in the foreign exchange market.The15-month period covered October 2018 and December last year, The amount was arrived at based on computation of amount released by the apex bank to boost liquidity in the foreign exchange market. The CBN usually intervenes in the […]

Persistent sell pressure costs equities N162bn WoW

February 17, 2020

Equities halt downtrend with N24bn uptick

By Omobayo Azeez   As weak sentiments continued to dominate the Nigerian stock market, the domestic equities market plunged further into negative territory to close last week with a cumulative loss estimated at N162  billion. This is the equivalent to 1.11 per cent depreciation in share prices as evident on the all-share index (ASI) which […]

Demutualisation will activate idle capital – Kurfi

February 17, 2020

By Omobayo Azeez     As the demutualisation process of the Nigerian Stock Exchange (NSE) nears completion, Garba Kurfi, the managing director, APT Securities and Funds Limited, said that the exercise would boost economic activities and activate idle capital in the market. The NSE had announced that it would convene a mandatory court-ordered meeting (COM) […]

Covenant University’s CEPDeR pulls in Akabueze for roundtable on budget

Afolabi OluwaseunFebruary 14, 2020

Covenant University’s CEPDeR pulls in Akabueze for roundtable on budget

  Adesola Afolabi As economic experts argue on the importance of Nigeria’s growing debt profile, Covenant University’s Centre for Economic Policy and Development Research (CEPDeR) has announced Ben Akabueze, the Director General (DG) of the federation’s budget office as the keynote speaker in its upcoming roundtable. According to CEPDeR, the national budget roundtable themed ‘‘The […]