Oil falls to $60 on concerns about China slowdown
Businessam Staff
January 14, 2019
Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand. China’s exports fell by the most in two years in December while imports contracted, official figures showed, pointing to further weakness in what […]
Nigeria bourse chief ties H2 market uptick to swift passage of 2019 budget
Adesola AfolabiJanuary 14, 2019
The head of the Nigerian bourse said Monday that the market could be set for an uptick in tge second half but he said such a positive outlook is tied to a swift approval and implementation of tge 2019 budget. The budget was presented by the Nigerian president, Muhammadu Buhari in November to the National […]
Financial markets await Emefiele’s 2019 policy thrust
Moses ObajemuJanuary 14, 2019
By Moses Obajemu As first term ends in 6 months Exactly six months to the end of the first term of Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), the attention of the financial market will, next week, shift to Abuja, the country’s political capital, to hear him unveil the main policy […]
Retail investors account for 17% of N100bn Sukuk subscribers
Adesola AfolabiJanuary 11, 2019
The proportion of retail investors that subscribed for the second tranche of the Federal Government’s N100 billion sukuk bond has risen from 4 percent to 17 percent, the country’s debt office said Thursday. In an update of the 7-year bond issued December 28, 2018, Nigeria’s Debt Management Office (DMO) disclosed that retail investors accounted for […]
Gains in GTB, Dangote Cement, Zentih Bank help Nigeria equities market claw back losses to rebound 0.6%
Adesola AfolabiJanuary 10, 2019
Nigeria’s equities market had an uptick performance Thursday as the All Share Index (ASI) gained 0.6 percent to close at 29,517.80 points, still below the 30,000-mark. In recovering from a losing streak, market year to date losses moderated to -6.1% while market capitalisation inched higher by N67.5 billion to close at N11.0 trillion. The day’s […]
Nigeria’s FMDQ targets repo market, derivatives, bankers’ acceptances in 2019 agenda
Afolabi OluwaseunJanuary 10, 2019
Bola Onadele Koko, FMDQ chief executive officer, has stated that the year 2019 will see FMDQ focus mainly on the repo market, enhanced activities in the derivatives market as well as the secondary market for bankers’ acceptance, three areas that he said need hedging. In a televised interview monitored by business a.m, Koko said, “Our plans […]
Nigeria’s debt growth slows on redemption of $500m eurobonds, stood at N22.43trn in Q3 ’18
Nse Anthony-UkoJanuary 10, 2019
Nigeria’s total debt profile grew by 10.5 per cent year on year to N22.43 trillion as at September 30, 2018 from N20.3 trillion a year earlier on the back of the redemption of the $500m Eurobonds which matured in June 2018, the Debt Management Office has said. The debt statistics as of September 30, 2018, […]
ASI dips below 30,000 points as investors intensify sell offs in equities on political uncertainties
Adesola AfolabiJanuary 9, 2019
For the first time since May 2017, Nigeria’s equities market All Share Index (ASI) closed below the bench mark 30,000 points to settle at 29,336.80 points. This is as investors intensify sell offs amidst heightened tensions of political uncertainty analysts at Afrinvest reiterated Wednesday. The ASI plunged 2.3 percent worsening year to date returns to -6.7 […]
CBN to sell N823.4b worth of t-bills in Q1
Businessam StaffJanuary 9, 2019
The Central Bank of Nigeria (CBN) says it plans to raise treasury bills worth N823.43 billion in the first quarter of 2019. The CBN made the disclosure in its 2019 Nigerian Treasury Bills Issue programme for the first quarter of the year which was posted on its website. NAN reports that the apex bank said the bills which would […]
Nigeria’s economy to accelerate by 2.2% in 2019- World Bank
Adesola AfolabiJanuary 9, 2019
Economic growth in Nigeria is expected to rise to 2.2 percent in 2019, the world bank has said in its latest economic outlook report. The January 2019 report titled Global Economic Prospects; Darkening Skies pointed out that the projected growth is on the assumption that oil production will recover and a slow improvement in private […]