Business

How tight liquidity drives T-Bills yield

Ihesiulo Grace 19 February 2023 0

The average yield on Nigerian Treasury bills spikes as financial system liquidity dropped, halting the ongoing rally in the secondary market for trading local debt instruments. The upward yield repricing came ahead of the primary market auction to be conducted by the apex bank on Wednesday,

Business

Covid-19: Liquidity, staff safety tops list of challenges facing businesses -Survey

Ihesiulo Grace 21 April 2020 0

A survey by the PricewaterhouseCoopers (PwC) has listed liquidity and staff safety as the top two most pressing challenges facing business owners as they grapple with the impact of the COVID-19 pandemic. The survey findings were revealed during a recent webinar hosted by the firm, on the economic implications and policy responses to COVID-19.   The survey had

Business Featured Headlines

NPL drops as banking liquidity position hikes by 267% to N587.21bn

Ihesiulo Grace 17 February 2020 0

…Industry NPL ratio stables at 6.1% The Central Bank of Nigeria (CBN) has disclosed that the net banking system liquidity position rose by 267 per cent from N160.03 billion on December 31, 2018, to N587.21 billion in December 31, 2019. This extract is from the personal statement of January Monetary Policy Committee (MPC) meeting which […]

Power & Energy

DisCos urges NASS to intervene in liquidity crisis in power sector

Ihesiulo Grace 23 October 2019 0

Abuja – The Electricity Distribution Companies (DisCos), have appealed to the National Assembly to intervene in the current liquidity crisis in the power sector. Mr Sunday Oduntan, the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED) made the appeal in a statement in Abuja on Wednesday. The News Agency of Nigeria

Business News

Foreign reserves hit $47.6bn

Ihesiulo Grace 4 June 2018 0

In continuation of its efforts in ensuring foreign exchange liquidity and dollar shortages, the Central Bank of Nigeria (CBN) on Friday, lifted the inter-bank forex market with total sum of $331.41 million, even as the nation’s external reserves rose by 0.27 per cent from a month ago to $47.62 billion as of May 30, CBN […]

Business Headlines

For 10th time, MPC retains 14% rate to consolidate reforms

Ihesiulo Grace 5 April 2018 0

* Pegs CRR at 22.5 per cent * Wants FG to offset N2.7trn contractors’ debts The members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) have for the 10th consecutive period, voted to retain anchor lending rate (MPR) at 14%, Cash Reserves Ratio .22.5%, Liquidity 30% across Asymmetric Corridor at […]

Money

Overnight lending rate drops by 10%

Ihesiulo Grace 5 March 2018 0

…As FG redeems $413m T.bill from Eurobond Trading at the overnight lending rate dropped by 242 basis points last week to 10 per cent, against prior week’s close of 12.42 basis points, as system liquidity, increased to N359.72 billion on average. Even as the Federal Government of Nigeria through the Debt Management Office (DMO), has […]

Business

Afrinvest inaugurates money market fund

Ihesiulo Grace 20 November 2017 0

Afrinvest Asset Management Ltd, a subsidiary of Afrinvest (West Africa) Ltd, has launched the Afrinvest Plutus Fund, a simple and affordable saving solution designed for all classes of income earners with a minimum subscription of N5,000. The Afrinvest Plutus Fund is an open-ended money market unit trust scheme approved by the Securities & Exchange Commission […]

Business

CBN sustains Forex supply, uplifts market with $308.5m

Ihesiulo Grace 30 September 2017 0

Mathew Dadiya, Abuja The Central Bank of Nigeria (CBN) has continued to sustain liquidity in the Foreign Exchange (FOREX) market as it boosted the market on Friday with $308.5m. This move is expected to further ensure liquidity and stability in the FX market. The Daily Times recalls that the apex bank opened the week with […]

Business

NSE admits 20 million units of Greenwich Asset Management Fund

Ihesiulo Grace 8 March 2017 0

The Nigerian Stock Exchange on Tuesday March 07, admitted 20 million units the Greenwich Asset Management Limited (GAML) into its official list at N100 per unit. The fund also known as the Greenwich plus, was admitted for memorandum listing in Lagos on Tuesday, March 7th, 2017, to give small investors access to professionally managed, diversified […]

Business

African Exchanges to attract liquidity by focusing on smaller businesses

Ihesiulo Grace 29 November 2016 0

African stock exchanges have been urged to focus on fostering and sustaining economic growth by working towards development of smaller companies via the Alternative Securities Exchange market (ASeM), in case of Nigeria, or South Africa’s AltX. Building younger companies through the stock exchanges becomes imperative hence the role of African markets in addition to