Domestic Equities: Analysts expect more bearish sessions after halt to bullish trend
Charles Abuede
June 22, 2021
More bearish sessions are expected on the local equities market this week after a total of N266 billion was lost last week by investors while trading on the Nigerian Exchange (NGX). According to market analysts at Afrinvest Securities Limited, “We expect to see some bargain hunting in early trades as investors seek to take a […]
Lotus Bank obtains non-interest banking licence from CBN
Charles AbuedeJune 22, 2021
Lotus Bank, a non-interest Nigerian bank deeply rooted in ethical banking, has obtained a non-interest banking operating licence from the Central Bank of Nigeria. According to a statement by the apex bank, Lotus Bank seeks to create value and growth through innovation in Nigeria. “Lotus Bank seeks to pursue the mission of creating value and […]
World Economic Forum kicks off first African CFR for SDGs in Ghana
Ben EguzozieJune 16, 2021
Country Financing Roadmap aims to increase private investments Nation first in Africa to launch Country Financing Roadmap To benefit $431.6bn financing gap to meet SDGs Once again, Nigeria was left in the lurch by the World Economic Forum (WEF) to pick its West African neighbour Ghana, as the launch area of the first Country […]
Covid-19: World Bank, African Union agree modalities to deploy 400m J&J vaccine in Africa
Ben EguzozieJune 16, 2021
Nigeria, 54 others assured they can access, finance vaccines they need The President of the World Bank, David Malpass, and his senior management team comprising Axel van Trotsenburg and Makhtar Diop met with the African Union’s Covid-19 Vaccine Acquisition Task Team (AVATT) to discuss modalities for a partnership that will accelerate deployment of […]
Tepid trading across markets as Naira’s street cred above N500
Charles AbuedeJune 16, 2021
Bubbling activity levels seen this week with improved liquidity across FI space Analysts anticipate Naira to gain strength against dollar with higher oil prices Sentiment was largely mixed in the fixed income market last week as bond participants were relatively quiet; OMO participants were buy-side driven, while NTB participants were sell-side driven. Regardless, analysts […]
Tight June call for NGX after dead cat bounce April, choppy May
Charles AbuedeJune 16, 2021
FDC, FSDH analysts express strategy bias for best-buy, best-sell stocks in June Following the dead cat bounce recorded in April and the weak performance posted by the Nigerian equities market in May, analysts have expressed the view that in the absence of any major catalyst to investors’ investment in the market, the local bourse will […]
African blood donation rate falls by 17% in wake of COVID-19 pandemic – WHO
Ben EguzozieJune 14, 2021
7m people need blood transfusion in continent annually Partners Facebook for blood donations feature, now live in 12 countries Since the outbreak of the COVID-19 pandemic that has caused widespread disruptions to key health services, lives and livelihoods, blood donation in the African region has fallen by 17 per cent, the World Health Organization […]
Nigerian economy to benefit from AfDB’s AUD$600-mn first ever Australian kangaroo social bond
Ben EguzozieJune 14, 2021
Largest ever Australian trade issued in Africa AfDB bonds target social issues: electricity, WASH, flood-risk reduction, employment Australian investors, fund managers among major investor type Activating bond good for Nigeria’s harried social sector – devt experts Nigeria’s $470 billion economy making a slow recovery from its second recession in five years stands a good […]
Nigeria’s debt portfolio up 0.58% to print N33.1trn in Q1’ 21, says DMO
Charles AbuedeJune 11, 2021
Nigeria’s Debt Management Office (DMO) data shows that Nigeria’s public debt stock as at March 31, 2021, stood at N33.11 trillion, rising 0.58 per cent or N191 billion from N32.92 trillion as of December 31, 2020. Out of the total debt, N12.47 trillion or 37.67 per cent of the debt was external, while N20.64 trillion […]
NGX successfully lists Nova MB’s N10bn Series I bond
Charles AbuedeJune 9, 2021
By Charles Abuede Nova Merchant Bank has successfully reported the listing of its NOVAMBL Investments SPV Plc N10 billion Series I, 7-year subordinate unsecured fixed-rate bond on the Nigerian Exchange (NGX) at 12 per cent due 2027, under the company’s N50 billion bond issuance programme. The listing rounds the total financing facilitated by […]