President Muhammadu Buhari on Thursday has directed the Central Bank of Nigeria, CBN to suspend forex for the importation of food items and fertilizer. The President’s Spokesman Malam Garba Shehu, in a statement in Abuja on Thursday, said the president gave the order at a meeting of the National Food Security Council at the State …
Buhari Asks CBN to Suspend Forex for Food Items, Fertilizer Imports Read More »
In line with its promise to support businesses overcome challenges posed by the COVID-19 pandemic,
…… We must put money in peoples hands now ……N637.2B for Agric ESP to create 5m jobs ……N152.4B for Solar projects to power 5m homes, covering 25m Nigerians & creating 250,000 jobs ……N217.3B for 300,000 Mass Housing, & 1.5m jobs ……N52B Public Works for 774,000 jobs …….N100B to create half a million MSMEs jobs Though …
Ministerial Retreat: N2.3trn Stimulus Package Must Be Implemented Quickly, VP Osinbajo Read More »
Japanese billionaire, Yusaku Maezawa says he lost 4.4 billion Yen (about $41.4 million) trading stocks amid volatile swings triggered by the pandemic As a result, Maezawa’s net worth dropped by about $215 million to $3.5 billion this year according to Bloomberg-compiled data. The founder and former chief executive of online fashion retailer Zozo who is …
Japanese Billionaire Yusaku Maezawa Says Ignorance in Equities Trading Cost Him $41m Read More »
A Report led by Novartis Foundation and Microsoft has suggested that Low- and middle-income countries could soon leapfrog high-income countries in their adoption of new AI-enabled technologies in health. The reports revealed that technologies such as mobile phone trading platforms, e-banking, e-commerce, and even blockchain applications have often been adopted faster and more comprehensively in …
….. Says Credit is expected to rise further in Q3 2020. The Central Bank of Nigeria, CBN, has revealed that the availability of secured credit to households increased from -36 percent in the first quarter of 2020 to -7.4 percent by the second quarter of 2020 (Q2). This was according to the apex bank’s Credit …
Following the resumption of forex sales to BDCs in the country, the Naira appreciated in the parallel market from N478/$ to N441/$ week-on-week, representing a fall of 7.74 percent At the Investors and Exporters (I&E) forex window, the market closed the week with an indicative rate of N386.13, which is an appreciation of N0.46k when …
NAIRA WATCH: Naira Appreciates to N441/$ in Parralel Market Week-on-Week Read More »
Money Market The average money market rate fell significantly by 12.46% to settle at 1.94% from 14.40% in the previous week. As expected, Open Buy Back (OBB) closed at 1.63% compared to 13.90% in the previous week while the Overnight rate (OVN) closed at 2.25% compared to 14.90% the previous week. The buoyant system liquidity …
ANCHORIA FIXED INCOME MONITOR: Naira Gains After Days of Depreciation Read More »
The costs of food baskets were affected ‘severely’ in 20 countries in Q2-2020, during which the COVID-19 pandemic played a major role, according to a report from the World Food Programme, WFP, released recently. Most notably, despite massive income losses, strong demand resulting from stockpiling in combination with disrupted trade flows led to steep increases …
VBank, a digital banking revolution and Nigeria foremost virtual Bank, has splashed over half a million Naira on 16 lucky Nigerians for participating in the ‘’Win With V’’ competition organized by it on VBankng Live on Instagram. The competition anchored by Mai Atafo is held every Friday and designed to reward Nigerians as well as …
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