CBN refunds N35m capital deposits to BDCs with pending applications
Charles Abuede
July 30, 2021
After the decision of the banking sector regulator to immediately halt the sales of foreign exchange to bureau de change (BDC) operators and channel the weekly intervention to commercial banks in Nigeria, the Central Bank of Nigeria (CBN) has said it will begin the refund process of capital deposits and licensing fees to promoters who […]
Access Bank’s N30bn 7-year bond gets “A+” rating from Agusto & Co.
Charles AbuedeJuly 28, 2021
Nigeria’s Tier-1 lender, Access Bank’s N30 billion 7-year 15.5 percent fixed rate subordinated unsecured bond due in 2026 has had its “A+” rating affirmed by Agusto & Co., the pan-African credit rating agency and a leading provider of industry research and knowledge in Nigeria and sub-Saharan Africa. The rating is a notch lower than Access […]
Nigeria’s capital importation down 32.4% to $875.6m on insecurity, Covid-19 concerns
Charles AbuedeJuly 28, 2021
Nigeria’s total capital inflow declined 32.4 percent year on year to $875.62 million at the end of June 2021 compared to $1.29 billion reported during the same quarter of 2020. The figure also indicates a 54.1 percent decline when compared on a quarter on quarter basis from the $1.91 billion recorded in the first quarter […]
CBN’s aggregate credit to private sector up N1.55trn in 6 months to N24.23trn
Charles AbuedeJuly 28, 2021
Bank says NPLs at 5.70% in June 2021 shows progressive improvement In the effort to stimulate the growth of credit to the private sector of the Nigerian economy as well as improve the access of the sector to credit from the banking system, the Central Bank of Nigeria (CBN) has disclosed that total […]
Correspondent banking training on for Nigerian, African bankers
Ben EguzozieJuly 28, 2021
As CBN says lenders in good shape Nigerian lenders along with other financial institutions in Africa are to benefit from a training for African respondent banks to enhance their ability to obtain and maintain correspondent banking relationships. The African Export-Import Bank (Afreximbank) and the Bankers Association for Finance and Trade (BAFT) announced the […]
Robinhood issues Q3 revenue warning on crypto price drop, low memecoins demand
Charles AbuedeJuly 21, 2021
Robinhood, one of the popular crypto and stock exchange platforms, has warned that its quarterly revenue is likely to be significantly lower than before as there has been a significant drop in crypto activity after the fall in the prices of the digital currency during the second quarter. Robinhood added the warning in its amendment […]
Chaka closes $1.5m pre-seed investment, eyes opportunities in Ghana, West Africa
Charles AbuedeJuly 20, 2021
Barely a month after Chaka, Nigeria’s online investment and securities trading platform, obtained an operating licence as a digital sub-broker from the Securities and Exchange Commission (SEC), the company, in a strategic drive for expansion says it has closed its $1.5 million pre-seed round to power digital investments for individuals and businesses. The pre-seed round […]
Again, mixed sentiments reign in fixed income, Naira loses street cred by N3.50
Charles AbuedeJuly 19, 2021
Analysts project same this week as DMO bond auction takes the shine Monday Naira to stay calm as CBN sustains FX intervention drives Trading was again mixed last week across the fixed income market as investors remained inclined on the buy-side in the OMO and Nigerian Treasury Bills segments, while remaining sell-side driven across the […]
After choppy H1, FSDH analysts say no improved sentiments in H2
Charles AbuedeJuly 19, 2021
Take advantage of dips in stock prices to position ahead of buying activities in H2 Non-banking stocks to sustain trade in the tight rage; market to largely remain in a lull with spurts of bullish sentiment The Nigerian domestic equities market is projected to sustain a tight trading range in the second half of 2021 […]
Factors Influencing Your Mortgage Rate
Businessam StaffJuly 18, 2021
Whether you are a first-time buyer or if it is time for you to remortgage your property, there are different options of home loans available to you. Most mortgages are subject to a maximum loan to value, which is the number lenders use to measure the relationship between the mortgage amount and the market value […]