U.S.-China trade hopes extend equity surge; central banks supportive

February 20, 2019

World stocks hit a four-month high on Wednesday on hopes of progress in trade talks between the United States and China, with a dovish backdrop at major central banks also helping push markets back into the black. U.S. President Donald Trump said negotiations with China were going well and suggested he was open to extending […]

Nigeria’s population growth rate outstrips economic growth – Report

February 20, 2019

The Nigerian economy is growing slower than the growth rate of its population, the FSDH research has revealed. According to the research by the FSDH Merchant Bank on ‘Final judgment on performance of the Nigerian economy: Implications’, it said this was an indication of growing poverty. “This means that the economy is not expanding in […]

Nigeria MPC members express concerns over banks’ low credit to private sector

Nse Anthony-UkoFebruary 19, 2019

Members of the Central Bank of Nigeria Monetary Policy Committee (MPC) have raised concerns over the persistent low level of credit by financial institutions to the private sector, regardless of the improvement in all financial system indicators (FSI). In their personal statements at the January MPC meeting released on Tuesday, members stressed the need for […]

Stock market rebounds 0.7% as investors re-focus on company earnings 

Adesola AfolabiFebruary 19, 2019

Investors at Nigeria’s equities market, Tuesday, returned their focus to earnings of listed companies, causing a 0.7 percent rebound in the local bourse, in contrast to 1.6 percent lost on Monday due to the uncertainty the election postponement brought. buying interests in bellwether stocks such as Zenith Bank (+5.6%) which reported an 11.3 percent growth in profit today, […]

Congo, DRC’s $1.65bn Kinshasa-Brazzaville road, rail-bridge provide Nigeria lessons in multi-modal transborder transportation, economic integration

Ben EguzozieFebruary 19, 2019

It was on the margins of the just-concluded African Union (AU) summit in Addis Ababa, Ethiopia, where Congo Republic and its closest neighbour, Democratic Republic of Congo (DRC) signed a memorandum of understanding (MOU) with the African Development Bank (AfDB), and Africa50, a pan-African infrastructure investment platform, to build a 4-kilometre road and rail bridge linking their […]

Banks registered 75,637 new PoS terminals in 2018

February 19, 2019

A total of 75,637 Point of Sales terminals were registered by banks for cashless transactions across the country in 2018. This brings the total number of registered PoS terminals in the country to 258,443 as of December 2018, industry statistics from the Nigeria Inter-Bank Settlement Scheme have shown. In January, 5,687 new terminals were registered […]

U.S. states sue Trump administration in showdown over border wall funds

February 19, 2019

A coalition of 16 U.S. states led by California sued president Donald Trump and top members of his administration on Monday to block his decision to declare a national emergency to obtain funds for building a wall along the U.S.-Mexico border. The lawsuit filed in U.S. District Court for the Northern District of California came […]

Oil prices hit $66 per barrel amid Saudi cuts

Bukola OdufadeFebruary 19, 2019

Brent crude oil futures traded steadily Tuesday at $66.41 per barrel, while the WTI sweet crude contract was up 56 cents at $56.15 per barrel. Cuts to Saudi Arabian crude exports continues to provide fundamental support to oil prices, with both Brent and WTI trading above their previous familiar ranges. The kingdom reported to OPEC […]