N464bn treasury, OMO bills to mature this week
Bussinessam Staff
February 26, 2019
Treasury bills and open market operations bills worth N464bn will mature this week. The Central Bank of Nigeria is expected to conduct a Primary Market Auction on Wednesday where a total of N115.1bn across the 91-day (N23.4bn), 182-day (N38.8bn) and 364-day (N59.9bn) tenors is expected to be rolled over. The 91-day tenor has an offer […]
Post-election trading: activity in high cap stocks pushes index up
Adesola AfolabiFebruary 25, 2019
As investors await the results of the 2019 Presidential elections, strong rally in the equities of highly capitalised stocks drove the domestic bourse into a high momentum mode on Monday. Nigerian Breweries which appreciated 4 percent, Zenith Bank’s growth of 1 percent and Dangote Cement’s 0.1 percent increase drove the All Share Index (ASI) 0.57 […]
36.8 million bank accounts linked to BVN
Businessam StaffFebruary 25, 2019
About 36.8 million bank accounts have been linked to the Bank Verification Number as of February 17 this year. This represents 51 per cent of the total number of active bank accounts, the Nigerian Interbank Settlement Scheme’s records have shown. The number of active bank accounts, according to the NIBSS data, is 71.79 million. BVN […]
Oil tumbles after Trump tells OPEC to ‘relax’
Businessam StaffFebruary 25, 2019
Oil fell on Monday, reversing earlier gains after U.S. President Donald Trump told OPEC producers to “relax” as prices were too high. Brent crude oil futures were down 91 cents at $66.21 a barrel at 1246 GMT, having earlier risen to a 2019 high of $67.47, while U.S. West Texas Intermediate (WTI) crude futures were […]
May 29, 2019: OPS, operators set agenda for Mr. President
Businessam StaffFebruary 25, 2019
BY MOSES OBAJEMU, ADESOLA AFOLABI, BUKOLA ODUFADE & OLUWASEUN AFOLABI Tweak fiscal, monetary policies for pro-market climate Open up economy for growth Rebirth of middle class Immediate action on infrastructure SME-friendly policies Full attack on unemployment Full deregulation of oil industry All eyes are now trained to May 29 when a president will be inaugurated […]
Buhari’s systemic decimation of judicial supremacy in Nigeria scaring away foreign investors – Ekpo, registrar IIHEL
Ben EguzozieFebruary 21, 2019
Cyprian Edward-Ekpo is the registrar of International Institute for Humanitarian and Environmental Law, Nigeria. He took a critical examination of all the non-adherence by the President Muhammadu Buhari administration to court orders and rulings in his now vilified corruption fight, and came up with the conclusion that this decimation of the judiciary is largely contributory […]
Stock market in decline, falls by 0.14% as investors begin profit taking
Adesola AfolabiFebruary 21, 2019
Nigeria’s stock market reversed a two-day positive performance as investors began taking profit in some key stocks. The All Share Index declined by 0.14 percent to 32,568.66 points following profit taking in International Breweries (-9.5%), Zenith Bank (-1.9%) and Dangote Flour (-2.5%). As a result, market capitalisation decreased by N16.9 billion to settle at N12.1 trillion while year-to-date […]
SEC approves Africa’s 1st corporate green bond by Access Bank
Adesola AfolabiFebruary 21, 2019
Access Bank Plc has revealed that Africa’s first corporate green bond, to be issued by the bank has secured the approval of the Securities and Exchange Commission (SEC). The bank in a notice to the Nigerian Stock Exchange (NSE) on Thursday explained that having secured the SEC’s approval, a book building process will be opened […]
Elections: FG orders immediate payment of salaries
Businessam StaffFebruary 20, 2019
The Federal Government of Nigeria has directed the immediate payment of February salaries to enable workers wishing to travel for Saturday’s Presidential and National Assembly election to do so without any difficulties. Lai Mohammed, the minister of information and culture made this known when he briefed State House correspondents on the outcome of the meeting of […]
Oil near $56 amid expectation of fifth U.S.crude inventory rise
Businessam StaffFebruary 20, 2019
Crude fluctuated between gains and losses as investors prepared for a fifth straight rise in U.S. crude inventories and oil tracked the U.S. equity market. After spending hours in the red, futures edged higher in New York on Wednesday, mirroring moves in the S&P 500 Index. Domestic crude stockpiles probably increased 3.1 million barrels last […]