Nigeria’s Foreign Reserves Increased to $35.81 billion
The latest figures from the Central Bank of Nigeria, CBN, showed that the country’s foreign reserves increased to $35.81 billion from….
September 2020
FGN Bonds Update: FGN Bond Auction Holds Wednesday As Average Yield Declines to 7.6%
In line with expectations, the bonds market traded with bullish sentiments spread across the yield curve as local investors sought to re-invest their bond coupon payments (c. N142.1bn) and OMO maturities. Demand further persisted in spite of the release of Consumer Price Index data for the month of August which showed a rise in inflation …
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Anchoria Fixed Income Monitor: Heavy Market Liquidity Pressures Rates Downwards
Money Market The average money market rate fell significantly by 13.00% to settle at 2.50% down from 15.50% in the previous week. The Open Buy Back (OBB) rate decreased significantly to close at 2.00% compared to 14.50% in the previous week while the Overnight rate (OVN) closed at 3.00% compared to 16.50% the previous week. …
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MPC Meeting: Experts Maintain Stance Likely To Remain Unchanged
Following the Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, meeting holding today and tomorrow in Abuja, a cross-section of experts believed that the decision of the 10 member committee would remain unchanged They argued that the committee would opt for an unchanged stance, which was its decision in July on a …
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CBN supports construction of 300,000 homes with implementation of N200billion FHF Initiative
……creates 1.5m jobs in 5yrs The Central Bank of Nigeria, CBN, says it planned to support the Federal Government’s Economic Sustainability programme aimed at fast-tracking the deployment of 300,000 homes in the 36 states of the federation and FCT as well as create up to 1.5m jobs in 5 years through the implementation of N200 …
‘Win With V’: Vbank splashes N.16 million on three lucky winners this week
VBank, your number one digital banking revolution, and Nigeria foremost virtual Bank, yesterday, Friday, September 18, gave out N160,000 to 3 lucky winners in the ‘’Win With V’’ game on VBankng Live on Instagram. Two female and one male participant emerged victorious amongst 14 participants that took part in the game, an indication that the …
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Regulating Cryptocurrency and Initial Coin Offerings: The Nigerian Perspective
Cryptocurrency has revolutionized the global monetary system and slowly evolved into a viable legal tender. Noting the increasing use of cryptocurrency in Nigeria, it is imperative that the Central Bank of Nigeria and the Securities and Exchange Commission establish regulations on the use of digital currency and clearly define what cryptocurrency is under the Nigeran …
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2,500 Vbank’s Customers to Share N27million in Verve Promo
2,500 lucky customers of Vbank nationwide, Nigeria’s foremost virtual and digital bank would stand a chance to share a whopping N27million in the ”Verve Goodlife” Promo unveiled in Lagos, recently The promo packaged by Verve International, a payment card brand in partnership with VBank commenced September 1 to November 29, 2020. According to Vbank, the …
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Nigeria’s Headline Inflation Hits 13.22% YoY In August; 0.40% Higher Than July
The consumer price index, (CPI) which measures inflation increased by 13.22 percent (year-on-year) in August 2020, representing an increase of 0.40 percent points higher than 12.82 percent in July 2020, according to the latest report from the National Bureau of Statistic, NBS. NBS noted that Increases were recorded in all COICOP divisions that yielded the …
Nigeria’s Headline Inflation Hits 13.22% YoY In August; 0.40% Higher Than July Read More »
SEC Classifies Cryptocurrency as Securities
The Securities and Exchange Commission (SEC), the apex regulator of the Nigerian capital market says it planned to regulate cryptocurrency investments as securities transactions in Nigeria. In a released statement dated September 11, 2020, the Commission stated that the general objective of the exercise is not to hinder technology or stifle innovation but to create …
