Nigeria’s MPC disappoints analysts, investors, keeps policy rates constant
Chris Ikosa
January 26, 2022
The broad expectation of financial and economic analysts and experts that Nigeria’s central bank will tweak rates in its first meeting in the new year on the back of an upswing in inflation in December the Monetary Policy Committee, unsurprisingly on Tuesday left all monetary policy parameters unchanged for another time by unanimous vote at […]
T-bills, OMO rebound on N239.3bn liquidity boost as bond yields fall
Charles AbuedeJanuary 26, 2022
Naira to trade calm barring market shocks after N0.50k gain on dollar Fixed-income analysts say they expect trading to kick off this week on a mixed note, as there are no catalysts to alter the usual sentiment in the market. In addition, the constrained level of system liquidity is expected to weigh on activities […]
Nigeria to benefit as oil seen rallying to $100
Phillip IsakpaJanuary 19, 2022
Nigeria could be in line for a windfall from a rally in oil prices this year if all the projections by analysts come to pass. It will be good for an economy that has been seriously squeezed by shortfalls in revenues since 2015 and hit by a double whammy recession, which it just barely managed […]
FirstBank sees oil recovery, e-Naira checking parallel market in 2022
Businessam StaffJanuary 19, 2022
Rewane, FDC CEO: Economy to be largely positive First Bank of Nigeria, the oldest banking institution in Africa’s largest economy and its most populous, is betting that recoveries in crude oil prices as well as maximisation of the country’s central bank digital currency, the e-Naira, could help keep the parallel currency market in check. […]
Nigerian banking landscape adjusts as TTB takes 89.39% of Union Bank
Charles AbuedeDecember 24, 2021
2-year old national bank to increase capital base after Access, Zenith miss out on deal After a long drawn out suitorship by interested parties to take ownership of the stake of the core investor in Nigeria’s second oldest bank, Union Bank Plc, two years old Titan Trust Bank (TTB) beat the likes of […]
Digital bank FairMoney disburses over N117bn loans to Nigerians in four years
Onome AmugeDecember 22, 2021
FairMoney Microfinance Bank, the Nigerian digital bank, said it has disbursed loans worth over N117 billion to business owners and individuals across Nigeria, since its establishment in 2017 Laurin Hainy, co-founder and chief executive officer of the digital banking and collateral-free instant loan platform, made the disclosure during his presentation of the lender’s accomplishments since […]
Stanbic IBTC loan solutions to ease access to finance for Nigerian SMEs
Onome AmugeDecember 21, 2021
Small and Medium Enterprises (SMEs) have invariably played a substantial role in the Nigerian economy, serving as relevant contributors to employment, economic and export growth. A survey by the Nigeria Bureau of Statistics (NBS) revealed that SMEs contribute over 48 percent to the national gross domestic product (GDP) and account for an estimated 96 percent […]
Shareholders clear way for Access Bank to go HoldCo in structure
Charles AbuedeDecember 17, 2021
Transfer of 35.5 billion shares to take place The stage is now all set for Access Bank plc to change its governing business structure to a non-operating holding company following a court-ordered meeting in Lagos on Thursday where the bank’s shareholders gave their approval for the board to go ahead and effect the […]
LAPO Micro Finance Bank (LAPO Nig) holds a three-day strategy session themed “Dominate through Excellence, Action and Leadership (DEAL), for leap jump in 2022
Businessam StaffDecember 16, 2021
What is a FOK order in Japan?
Businessam StaffDecember 16, 2021
FOK order is when overseas companies buy currency in bulk to sell to their currency-selling branches, overseas or domestically. Generally, the purpose of doing this is because the company’s currency (in this case, Japanese yen) has devalued against another currency (in our case, usually USD ), and they want to make money off the difference […]