Category Archives: Markets

IMF boss, Lagarde on trial in France over tycoon case

Posted on in Markets | Comments Off on IMF boss, Lagarde on trial in France over tycoon case

IMF chief Christine Lagarde goes on trial in France on Monday over a massive state payout to a flamboyant tycoon when she was finance minister in a case that risks tarnishing her stellar career. Lagarde denies the charges of negligence, arguing she was acting “in the state’s interest” in making the payment to Bernard Tapie, […]

CBN to Sell N1.23bn Worth of Treasury Bills in Q1 2017

Posted on in Business News, Markets | Comments Off on CBN to Sell N1.23bn Worth of Treasury Bills in Q1 2017
godwin2

The federal government plans to raise about N1.23 billion through issuance of treasury bills in the first quarter of next year. It further plans to raise N1.24 billion from treasury bills which are rolled over into 2017 and maturing at different dates. According to the Central Bank of Nigeria (CBN) issuing calendar for treasury bills, […]

Citigroup, Stan Chart, Stanbic IBTC Appointed Transaction Parties for $1bn Eurobond

Posted on in Business News, Markets, Slider | Comments Off on Citigroup, Stan Chart, Stanbic IBTC Appointed Transaction Parties for $1bn Eurobond

The Federal Executive Council (FEC) has approved a consortium of financial, legal and communications advisers for the issuance of the $1billion Eurobond in the first quarter of next year. The Finance Minister, Mrs. Kemi Adeosun, who disclosed this wednesday at the State House, Abuja, while briefing journalists after the FEC meeting, gave the names of […]

Capital market master plan can drive national economic devt agenda

Posted on in Markets, Slider | Comments Off on Capital market master plan can drive national economic devt agenda
SEC logo

The master plan is a product of key committees inaugurated by the Securities and Exchange Commission (SEC) in 2013 to work on long-term blueprints for the capital market for non-interest capital market and for capital market literacy. The reports from these three committees were consolidated to form the 10-year Capital Market Master Plan from 2015 […]

CBN denies allocating dollars

Posted on in Markets, Slider | Comments Off on CBN denies allocating dollars

The Central Bank of Nigeria has debunked the report that it has started allocating United States dollars. The apex bank said it had rather set up an interbank foreign exchange market for anyone interested in buying the greenback through Deposit Money Banks. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said this in a […]

Again, Naira depreciates, exchanges N470 to dollar

Posted on in Business News, Markets, Slider | Comments Off on Again, Naira depreciates, exchanges N470 to dollar

The naira is expected to depreciate slightly at both the official and parallel markets on the back of gradual increase demand for forex by small businesses stocking for forthcoming Christmas and New Year sales. The local currency was quoted at 470 to the dollar on the parallel market yesterday, weaker than N465 a dollar last […]

Sterling Bank Promotes Made in Nigeria: Support NES

Posted on in Markets | Comments Off on Sterling Bank Promotes Made in Nigeria: Support NES

  Sterling Bank Plc has renewed its commitment to the promotion of Made-In-Nigeria goods and services as it supports the 2016 edition of the Nigerian Economic Summit (NES#22). The Bank in the statement explained that its strategic support for the promotion of Made in Nigeria was informed by the current economic headwinds and exchange rate volatility […]

SEC Applauds CBN’s Approval of Guidelines for Granting Liquid Assets

Posted on in Markets | Comments Off on SEC Applauds CBN’s Approval of Guidelines for Granting Liquid Assets
SEC logo

  The Securities and Exchange Commission (SEC) has notified issuers and investors of the approval of “Guidelines for Granting Liquid Asset Status to Sukuk Instruments Issued by State Governments .by the Central Bank of Nigeria (CBN). This approval according to the commission is a major milestone for Nigeria as it will catalyze the development of […]

Firm raises N1.2m for expansion

Posted on in Business News, Markets, Slider | Comments Off on Firm raises N1.2m for expansion
Fikayo Ogundipe

A Lagos-based real estate classifieds start-up, ToLet.com.ng, says it  has closed a $1.2m Series A funding from Frontier Digital Ventures to improve its technology offering to clients. The firm’s Chief Executive Officer, Fikayo Ogundipe, said in a statement that the new funds raised would also be channelled into expansion. “The funds will be used to […]

Loans: World Bank demands more reforms from Nigeria

Posted on in Business News, Markets, Slider | Comments Off on Loans: World Bank demands more reforms from Nigeria
World Bank

Plans by the Federal Government to borrow billions of dollars from the World Bank to plug its budget deficit have run into delays as the international lender is demanding for further reforms from the government as a condition for any loan. This came barely one month after the Presidency gave the Ministry of Finance its […]