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CBN Hikes Benchmark Interest Rate to 17.5%
Naira Depreciates to N462 at Investors, Exporters FX Window Exchanged at N462 per United States dollar, the Naira falls across the foreign exchange market after the Central Bank of Nigeria (CBN) monetary policy committee hiked benchmark interest… Read more Unilever Nigeria Grows Profit 425% in 2022 Growing in multiples, Unilever Nigeria Plc posts N5.992 billion as profit after tax at the end of the financial year 2022, from N688.266 million in 2021, according to an audited statement … Read more Demand for T-Bills, FGN Bonds Rise amidst Rate Hike The Nigerian local debt market was bullish following an increase in benchmark interest rate by the monetary committee of the Central Bank in a bid to continue fighting inflation… Read more NIMASA Holds Meeting with Banks CEOs over CVFF Disbursement The management of the Nigerian Maritime Administration and Safety Agency, NIMASA and the executives of the five approved Primary Lending Institutions (PLI) held… Read more NGX Falls as Market Reacts to Policy Rate Hike The equities segment of the Nigerian Exchange, NGX, slides on Tuesday as market participants react to another 100 basis points hike in the monetary policy rate … Read more Mafab Telecommunication Rolls Out 5G Network in Nigeria The Mafab Telecommunication Company Limited has launched the fifth generation (5G) network and unveiled its logo in Abuja. The launch was held at the … Read more CBN Hikes Benchmark Interest Rate to 17.5% As inflation fighting gets dirty, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its first meeting of the year has raised the benchmark interest rate by … Read more PTML Customs Generates N229.5bn Revenue in 2022 The Ports and Terminal Multiservice Limited (PTML) command of the Nigeria Customs Service (NCS) has generated total revenue of Two hundred and twenty-nine billion … Read more Missing N89trn: CBN Collects N370bn as Stamp Duty in 6 Years -Emefiele Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) says the total revenue collected as stamp duty in six years between 2016 and 2022 is N370,686 billion… Read more FIRS Breaks Record as Tax Collections Spike to N10.1trn UPDATED: The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection … Read more
MarketForces FinancialNews
Jan 24, 2023 · 2 min read
Bonds Yield Jumps as Nigeria Seeks to Raise N1.2trn
FIRS Breaks Record as Tax Collections Spike to N10.1trn The Federal Inland Revenue Service (FIRS) has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection ever recorded … Read more Africa’s Economic Growth to Outpace Global Forecast- Report Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023… Read more Bonds Yield Jumps as Nigeria Seeks to Raise N1.2trn In the secondary market, the average yield on Federal Government of Nigeria (FGN) bonds spiked by 64 basis points as investors sold off their holdings in a bid to reshuffle … Read more Buhari Transfers $1.5bn Lekki Seaport to Tolarams Group for 45 Years The modern Lekki deep seaport has been commissioned today Monday, January 23rd, 2023 by President Mohammad Buhari after the port had undergone about two years of construction… Read more Flights Disrupted as NAHCO Workers Embark on Strike Airlines in Nigeria said on Monday flights were being disrupted as members of staff of the Nigerian Aviation Handling Company (NAHCO) began an indefinite strike … Read more NGX Rises as Investors Find Domestic Bourse Attractive The equities segment of the Nigerian Exchange inches higher on Monday following sustained buying sentiments in the local bourse, which pushed key performance indicators… Read more MTN to Allot Incentive Shares to Shareholders MTN Nigeria Communications Plc has told the Nigerian Exchange Limited of its plans to allot incentive shares to investors who purchase its Initial Public Offering (IPO) … Read more FX Market Sees Sharp Decline in Dollar Inflows With a bleak outlook in 2023, it has been tough getting an adequate supply of foreign currencies to conduct dollarised transactions for goods and services that are not … Read more Market Expectations Differ as CBN Holds Policy Meeting Amidst cautious predictions across the Broadstreet, this week, members of the Central Bank of Nigeria (CBN) monetary policy committee (MPC) will be holding their first meeting … Read more T-Bills Yield Dips, OMO Skids ahead of CBN Auction While maintaining a balance as part of their respective portfolio strategies, assets/fund managers buying interest in open market operations (OMO Bills) and Nigerian Treasury bills walled down… Read more Lagos Confirms January 31 Deadline for Tax Returns The Lagos State Internal Revenue Service (LIRS) says Jan. 31 remains the deadline for filing of annual tax returns by employers of labour. LIRS Chairman, Mr Ayodele Subair … Read more
MarketForces FinancialNews
Jan 23, 2023 · 2 min read
Naira Gains 0.05% as FX Demand Steadies
Naira Gains 0.05% as FX Demand Steadies The Nigerian naira was sold at N461.25 to the United States (US) dollar at the Investors and Exporters window, according to market data. Exchange rates in the market… Read more Online Auditions of Nigerian Idol Season 8 Begin –MultiChoice Following the success of Nigerian Idol Season Seven, MultiChoice Nigeria says it’s bringing back the competition for the Eight edition, starting with online auditions. Read more FEC Approves N2.3bn for Local Assembly of Aircraft The Federal Executive Council (FEC) has approved the sum of N2.3 billion for the commencement of local assembly of Magnus Centennial Aircraft at Nigerian College … Read more Global Credit Risks Rise as Recessions, Gas Crisis Loom Global credit risks have risen over the past quarter as the triple threat of rate rises, Europe’s gas crisis and China’s moribund property market show no sign of abating… Read more Nigerian Treasury Bills Yield Rises 2bps to 3.29% Following selloffs on short-dated instruments in the secondary market, the average yield on Nigerian Treasury bills inched upward by two basis points (2bps), according to… Read more Equities Market Falls as Investors Offload Dangote Cement The equities segment of the Nigerian Exchange, NGX, was soaked into the red as investors started unbundling some high-cap stock, led by selloffs in Dangote Cement… Read more Return on Nigeria’s 20-Year Bonds Jumps to 15.05% Trading activities in the secondary market ended on a mixed note, albeit, with a bearish tilt as local investors offloaded part of their Federal Government of Nigeria’s (FGN) 20-year bond … Read more Tech Downturn Slashes Billions from Value of World’s top Brands Amazon has reclaimed top spot as the world’s most valuable brand despite its brand value falling 15% from US$350.3 billion to US$299.3 billion, according to a … Read more FG, States, LGs Share N990.189bn from Federal Account The Federation Account Allocation Committee (FAAC) has shared N990.189 billion to the three tiers of government for the month of December 2022. This is contained in …. Read more Polaris Bank Partners NYSC, NerdzFactory to Push Digital Literacy In line with its Corporate Social Responsibility (CSR) drive, Polaris Bank in partnership with the National Youth Service Corps (NYSC) and NerdzFactory has commenced… Read more Nigerdock to Strengthen Trade with West Africa Market Nigerdock, a Nigerian maritime and logistics company operating an integrated port terminal has unveiled a new vision of strengthening global trade with West Africa … Read more VC4A Names Vincent Hoogduijn as Chief Executive The Africa platform for startup funding, Venture Capital for Africa (VC4A) has announced Vincent Hoogduijn as its new Chief Executive Officer (CEO), the company said in a … Read more Ghana Extends Debt Exchange Deadline Again For the third time, Ghana has again extended the deadline to register for its domestic debt exchange to Jan. 31, Ken Ofori-Atta, Finance Minister hints about this in a statement. Read more Nigeria Targets 90% Primary School Enrolment Rate Nigeria plans to increase primary school enrolment from the current 46 per cent to 90 per cent by 2030. The country also plans to double the enrolment of females in schools … Read more New Naira Notes: 36 States Governors Invite Emefiele for Meeting The 36 state governors have invited the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, for a virtual meeting on Thursday over issues related to the new naira notes… Read more
MarketForces FinancialNews
Jan 19, 2023 · 3 min read
Risk Mgt, Compliance & Internal Audit Report Writing Training
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MarketForces FinancialNews
Jan 18, 2023 · 2 min read
Naira Trades at N461.50 amidst Low Optimism for Improvement
Naira Trades at N461.50 amidst Low Optimism for Improvement The Nigerian local currency, the naira hold strong against the United States dollar at Investors’ and Exporters’ foreign exchange market on Monday… Read more Godwin Emefiele Resumes Duty ahead of MPC Meeting Gowdiw Emefiele, the Governor of the Central Bank of Nigeria, resumed duty at the apex bank’s headquarters in Abuja on Monday after spending… Read more Nigeria’s Bond Yield Rises to 12.81% as Inflation Falls Following selloff pressures in the secondary market, the average yield on Nigerian government bonds rises moderately to 12.81% on Monday as… Read more Ghana Extends Debt Exchange Deadline Again For the third time, Ghana has again extended the deadline to register for its domestic debt exchange to Jan. 31, Ken Ofori-Atta, Finance Minister… Read more Oil Prices Decline Amidst Demand Uncertainties Oil prices fell on Monday over market cautiousness ahead of industry data by two major energy watchdogs, the Organization of Petroleum Exporting Countries… Read more Yield Falls to 3.27% as Demand for Treasury Bills Rises The average yield on Nigerian Treasury bills falls again as local investors continue to channel available funds into the secondary market… Read more Fitch Affirms Angola Ratings as Debt Burden Declines Fitch Ratings has affirmed Angola’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a positive outlook. In its recent rating note… Read more Inflation Rate Drops to 21.34% in Nigeria Down by 13 basis points, Nigeria’s headline inflation eased for the first time in about 12 months, settling at 21.34% year on year in December 2022 from 21.47%… Read more Stocks Plunge as Nigeria’s Inflation Pressure Slowdown After a record gain of more than N702 billion last week, the equities segment of the Nigerian Exchange (NGX) plunged as inflation rate data for December… Read more Nigerian Companies with Market Valuation Below N1bn A large number of Nigerian companies have valuations of less than N1 billion in the stock market, compared with bellwethers with trillion naira valuations. Read more Buhari Tasks African Countries on AfCFTA In a bid for African Continental Free Trade Agreement to have a positive impact on African economy, especially in long-term investment productive … Read more
MarketForces FinancialNews
Jan 16, 2023 · 2 min read