The bulls reign in the local bourse from price appreciation in GTBank, Wapco, Union Bank
Charles AbuedeApril 21, 2021
The bulls reign in the local bourse from price appreciation in GTBank, Wapco, Union Bank Charles Abuede The local bourse extended gains for the third consecutive trading session as a result of price appreciation in GTBank (+4.2%), Wapco Plc (+6.8%), and Union Bank (+5.3%). Accordingly, the All-Share index rose 0.29 per cent to close at 39,128.34 points, with the year to date […]
Latest Fitch report says top NDBs in Africa can play key roles in financing SDGs
Zainab IwayemiApril 21, 2021
Zainab Iwayemi Leading African national development banks (NDBs) can play a key financing role in supporting the SDGs, especially mobilizing concessional funding from large international development lenders and domestic private-sector investments, a report by Fitch says. The international credit and finance rating agency in its recent report on the financial sustainability of African banks […]
Anambra’s new airport gains traction as first commercial flight expected April 30
BEN EGUZOZIEApril 21, 2021
…State deflates alleged non-issuance of international licence by FG as misleading …Said airport’s 5.7km long, 60m wide runway largest in Africa …Yet to provide cost of project Ben Eguzozie, in Port Harcourt Anambra’s new cargo/passenger airport which is in its completion phase, is expected to achieve its major milestone with […]
Tightening global financial conditions triggered over $5bn capital outflows from Africa in the first quarter of 2020 – Afreximbank
Charles AbuedeApril 21, 2021
Report by the bank highlights how trade finance will play a key role in transforming the African economy as lifeblood of commerce Charles Abuede A trade finance survey by the African Export-Import Bank (Afreximbank) in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making […]
CBN charges non-oil businesses to exploit $666.2bn AfCFTA trade potential
Onome AmugeApril 21, 2021
Onome Amuge The Central bank of Nigeria (CBN) has enjoined the Nigerian private sector, particularly firms in the areas of manufacturing, ICT, agriculture,financial services and other non-oil sectors to expand into new markets and seek export opportunities in the African Continental Free Trade Agreement (AFCFTA) projected to give Nigerian firms preferential access to markets in […]
Petroleum landing cost now N216, as daily subsidy hits N4.64bn
Arakunle KayodeApril 21, 2021
Arakunle Kayode As a result of the recent increase in global prices in oil and the depreciation of Naira against the dollar, the cost of the landing of Premium Motor Spirit (petrol) imported to Nigeria jumped to N216.31 per liter. A price template indicating guiding prices for the month was released by the Petroleum […]
Airtel signs $500m credit facility to partially refinance €750 million Euro-denominated bond
Charles AbuedeApril 21, 2021
Signs $880m loan deal with participation from JP Morgan, Standard Chartered, HSBC, others Charles Abuede Following the recent announcements by Nigeria’s telecoms giant in relation to the sales of its towers and minority investments in its mobile money services, Airtel Africa Plc, a leading provider of telecommunications services with presence across 14 African countries has […]
CBN mandates banks, BDCs, other forex dealers to accept all dollar bills from customers
Charles AbuedeApril 21, 2021
Charles Abuede Following series of complaints reaching the desk of Nigeria’s central bank governor over the rejection of the dollar bills by all authorised foreign exchange dealers in the country, the apex bank in a circular on Tuesday, signed by Ahmed Umar, Director, Department of Currency and Operations at the CBN has mandated deposit […]
Investors earn N88bn as buying interest in MTN, Zenith, GTBank buoyed positive performance in the equities market
Charles AbuedeApril 20, 2021
Charles Abuede The Nigerian equities market extends its positive tempo going into the third trading session resulting from buying interest in MTN Nigeria (+1.0%), Zenith Bank (+2.8%), and GTBank (+1.7%) which buoyed market performance on Tuesday as the NGX All-Share index inched up 0.43 per cent in the session to peg the bourse at 39,015.58 basis points. This outing brought the […]
Bank of England begins exploring Crypto feasibility; set to launch Britcoin
Charles AbuedeApril 20, 2021
Digital currency to address issues found in typical cryptos Charles Abuede With the news of most cryptocurrency market continuing in a bleeding position after the records seen in the past weeks, major central banks are now beginning to take a stand in the way of a central bank-backed digital currency as a way […]