How Markets And The Media Have Overhyped Coronavirus
Josh OwensMarch 3, 2020
In my last article, Are Oil Markets Overreacting To The Coronavirus?, I warned of the power of media hype when it comes to epidemics. The human brain has a tendency to mix up the severity of an outcome with how likely that thing is to happen. Just like our fear of terrorism or shark attacks, when it comes to […]
DMO opens March savings bond offer
Businessam StaffMarch 3, 2020
The Debt Management Office (DMO) yesterday opened offer for the Federal Government of Nigeria’s savings bond for March 2020 with yields lower than what it offered in February. The offer circular showed that it is offering the 2-year FGN savings bond due March11, 2022, at 4.131 per cent, while the 3-year FGN savings bond due […]
Investors lose N208bn as equities opens week on red
Omobayo AzeezMarch 3, 2020
By Omobayo Azeez Investors in Nigeria are still counting their losses at the stock market as the equities segment of the market continued to depreciate in value following a loss of N208 billion recorded on Monday. The loss is blamed on the raging impact of coronavirus that has left the global equities market […]
UBA’s 2019 result sees earnings, assets cross N500bn, N5trn first time
Omobayo AzeezMarch 3, 2020
By Omobayo Azeez All headline numbers up Profit hits N111bn The gross earnings and total assets of Nigeria headquartered pan-African financial supermart, United Bank for Africa (UBA) Plc, for the first time in its history, crossed the psychological market sensitive marks of N500 billion and N5 trillion respectively as the bank turned […]
Experts uphold tech-driven solutions for financial inclusion
Omobayo AzeezFebruary 27, 2020
By Omobayo Azeez Financial experts have reiterated the need to adopt tech-driven strategies to achieve financial inclusion drive in Nigeria. Speaking during a panel session and masterclass championed by Stanbic IBTC Holdings Plc at the ongoing Social Media Week (SMW) Lagos on Wednesday, the experts drawn from financial and technology sectors upheld that digital […]
IHS seeks $7bn from US IPO
Omobayo AzeezFebruary 27, 2020
By Omobayo Azeez with agency report Telecoms tower company IHS has hired banks to oversee what may be the biggest initial public offering (IPO) of an African company in the US, Bloomberg reported citing sources with knowledge of the matter. IHS has selected Citigroup and JPMorgan Chase as global coordinators for a listing […]
Stock market extends downtrend, posts N31bn loss
Businessam StaffFebruary 27, 2020
Transactions in the Nigerian equity market on Wednesday closed negative, as losing streak extended to four consecutive trading days, following sell-off on some high-valued stocks. Consequently, the market breadth closed negative, recording 11 gainers against 16 losers. Meanwhile, the All-Share Index dipped by 58.72 basis points or 0.22 per cent to close at 26,974.38 index […]
IMF MD taps Liberia’s Sayeh for DMD
Businessam StaffFebruary 27, 2020
Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), has proposed the appointment of Liberia’s Antoinette Sayeh as a deputy managing director, effective March 16, 2020. The appointment is subject to approval by the IMF’s Executive Board. In announcing her selection of Sayeh, Georgieva said: “We are welcoming back a dear friend and […]
Reps to probe commercial banks over alleged illegal, excess charges from public, private accounts
Businessam StaffFebruary 26, 2020
The House of Representatives on Wednesday, resolved to investigate some commercials banks over alleged illegal and excess charges on public and private accounts. The House said that the act amounted to outright stealing of customers’ money, fearing that it may have been a victim. The resolution came on the heels of a motion under matters […]
Nigeria Approves $268 Million to Back Entrepreneurs, Innovators
Businessam StaffFebruary 26, 2020
Nigeria approved disbursing $268 million in funding to support agricultural entrepreneurs and young technology innovators, Vice President Yemi Osinbajo said. One tranche of the funding, worth 90 billion naira ($248 million), will be dispensed by the central bank as “soft loans” for people building small-scale agricultural businesses, while another $20 million will provide funding support […]