Wall St. gains on earnings boost, strong economic data

May 16, 2019

U.S. stock indexes rose 1 percent on Monday and were on pace to extend a two-day winning streak, lifted by better-than-expected earnings from Cisco and Walmart, and robust economic data that underscored the strength of the domestic economy. Cisco Systems Inc rose 6.1%, the most among the S&P and the Dow indexes, after the network […]

MPC cut MPR for the first time since 2015 by 50bps

March 26, 2019

At the end of its 2-day policy meeting, in a vote of 6 to 5 members, the Monetary Policy Committee (MPC) voted to cut the monetary policy rate by 50 basis points to 13.5 percent for the first time since September 2015. The committee decided to cut Monetary Policy Rate (MPR) to 13.5 percent, however, they […]

Revitalise moribund industries through capital market- SEC urges sub-nationals

Adesola AfolabiJanuary 24, 2019

The Securities and Exchange Commission, SEC has  urged state governments to take advantage of the enormous opportunities available in the capital market to revitalise moribund companies in their state in a bid to create wealth for the citizens. , acting director general of the SEC, stated this in Akure, Ondo State at an e-dividend enlightenment […]

NB debunks “fake Amstel Malta” claims

Afolabi OluwaseunJanuary 18, 2019

In the wake of a video circulating the social media, alleging the existence of a ‘fake’ Amstel Malta in the market, the Nigerian Breweries has been quick to debunk this allegation, claiming is not true. According to the statement released, NB said the claim in circulation is based on the fact that there are differences in […]

Dollar slips vs. yen, Swiss franc as risk appetite wanes

December 27, 2018

The U.S. dollar fell against the Japanese yen on Wednesday, giving up most of the gains logged in the previous session, as worries about widening cracks in global stock markets prompted investors to load up on perceived safe-haven assets. The greenback advanced against commodity-linked currencies as oil prices fell toward 18-month lows on oversupply. Although […]

SEC urges investors to embrace e-dividend to boost liquidity

Adesola AfolabiDecember 6, 2018

The Securities and Exchange Commission (SEC) has urged more Nigerians to take advantage of the on-going  e-dividend registration to reduce the unclaimed dividends profile as well as increase liquidity in the capital market and the economy. According to the apex capital market regulator, the essence of the e-dividend mandate management system (DMMS) is to eradicate […]

NSE boss encourages products’ issuers to broaden offerings

Nse Anthony-UkoDecember 6, 2018

Oscar Onyema, the chief executive officer of the Nigerian Stock Exchange (NSE) Wednesday encouraged exchange traded products (ETPs) issuers to expand their footprints by entering new markets and leveraging technology and data analysis. He also urged them to introduce other asset classes and broaden their distribution channels. Onyema who gave the opening remarks at the 2018 […]

CBN opens December foreign exchange market intervention with $210m

Nse Anthony-UkoDecember 5, 2018

Nigeria’s central Bank in its first foreign exchange market intervention for the month of December, on Tuesday, December 4, 2018 injected the sum of $210 million in the inter-bank foreign exchange market. Authorised dealers in the wholesale segment of the market, in Monday’s sales, received the sum of $100 million, while the Small and Medium […]

Money market stable amidst MPR retention, OMO mop up

November 27, 2018

Afolabi Oluwaseun In line with expectations of maintaining status quo on key policy rates, there were no kneejerk reactions in the money market as the monetary policy committee of the CBN completed its last meeting for the year. The committee elected to retain Monetary Policy Rate (MPR) at 14.0 percent and asymmetric window around the […]