Finance

POST COVID-19 INFRASTRUCTURE FINANCING IN NIGERIA

The Capital Market Option Deutsche Partners Holding with the special consent of the securities and exchange commission Nigeria under the platform infra dialogue is holding a dialogue termed ” Post covid-19 infrastructure dialogue” where it will hold intellectual and practical discourse about the infrastructure status in Nigeria, its deficit, investment opportunities and the role the …

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CBN insists BDC ban has helped stabilize the Naira

According to the Central Bank of Nigeria (CBN), the discontinuation of FX allocation to Bureau De Change operators  helped the Naira remain constant at the Investors and Exporters Window (I&E). However, since the BDC prohibition policy, the currency has dropped significantly in the underground market. The statement was made at the CBN’s 32nd Seminar for Finance Correspondents and Business Editors on Thursday in Akure, Ondo, by Governor Godwin Emefiele, who was represented by Mr Edward Adamu, Deputy Governor, Corporate Services. The naira and the US dollar exchange rate at the official Investors and Exporters (I&E) market remained steady from the previous day at N417/$1. The parallel market saw a drop in the currency rate, with the average selling for N583/$1, down 0.87 percent from the previous session’s rate of N578/$1. This is the case, according to data gathered from BDCs in Nigeria.

February 2022 FGN Bond Oversubscribed to the tune of N407.7 billion

The federal government of Nigeria bond issuance for the month of February 2022, by the Debt Management Office (DMO), reported an oversubscription from investors amounting to N407.7 billion over the expected N150 billion offered by the DMO. This is according to the February 2022 FGN Bond auction result, released by the Debt Management Office. The …

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OIL PRICES CROSSES A $100 PER BARREL FOR THE FIRST TIME IN 7 YEARS

For the first time since 2014, Brent oil prices has moved past $100 a barrel, as Russia-Ukraine crises continue to escalate. These tensions subsequently sparked fears of disruption to the region’s critical energy exports. Russia is a major energy supplier to a number of countries, distributing about ¼ of Europe’s oil requirements and 1/3 of …

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Solar

Federal govt push-Up Disbursement of CBN’s N140bn Solar Intervention Fund

The federal government of Nigeria is pushing up the disbursement of the N140 billion solar intervention fund, this is being facilitated by the Central Bank of Nigeria (CBN) to close the wide gap in the energy sector, especially in Nigeria’s rural communities. During the last quarter of 2020, the CBN had presented the fund that …

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Terrorist groups

The Securities and Exchange Commission (SEC) has issued a warning to CMOs against interacting with clients who are related to banned terrorist groups

Capital Market Operators (CMOs) in Nigeria have been warned not to interact with clients linked to outlawed terrorist groups in any area of the country, according to the Nigerian Security and Exchange Commission. After Nigeria’s Justice Ministry published a gazette classifying bandit organizations operating in any region of the country as terrorists, the SEC issued a circular. They also stated that beginning January 17th, existing CMOs would be examined prior to finalizing any transaction. The SEC warned that “Capital Market Operators (CMOs) are hereby notified that in line with the requirements of the Terrorism Prevention Act (No. 10,2011) and Terrorism (Prevention) Prescription Order Motion, 2021, the Federal Government of Nigeria has declared the activities of “YAN BINDIGA GROUP”, YAN TA’ADDA GROUP AND OTHER SIMILAR Groups in any …

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Parallex bank

PARALLEX BANK TRANSITIONS FROM MICROFINANCE BANK TO COMMERCIAL BANK

Parallex bank unveiled its new brand entity, over the weekend on Friday, January 14th, 2022 at its corporate head office in Victoria Island, Lagos state. According to the bank, its transformation into a commercial bank is a first-of-its-kind achievement in the Nigerian banking space. Parallex Bank Limited was incorporated as a limited liability company on …

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BUA FOODS

BUA FOODS PLC SUCCESFULLY LISTS 18 BILLION ORDINARY SHARES STOCK EXCHANGE

BUA Foods Plc was on 5th January 2022 listed on the Nigerian Exchange Limited, with its total issued capital admitted to trading. A total of 18 billion ordinary shares of BUA Foods were listed at N40.00 per share under the consumer goods sector of the NGX, with the trading symbol ‘BUAFOODS’. The listing of BUA …

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International Monetary Fund predicts new relationship between crypto prices and stock prices will cause financial instability

Crypto link with equity markets, according to the International Monetary Fund (IMF), will pose significant dangers to financial stability. In a blog post titled ‘Crypto Prices Move More in Sync With Stocks, Posing New Risks,’ the IMF revealed this.  According to the analysis, before the pandemic, cryptoassets like Bitcoin and Ether had only a minor correlation with major stock indices. They were thought to aid risk diversification and serve as a buffer against asset class volatility. This function, however, changed after the catastrophic central bank crisis responses of early 2020. As a result of easy global financial conditions and increasing investor risk appetite, both cryptocurrency and stock values have risen in the United States. According to the Fund, the rising and significant movement and spillovers between crypto and equities markets show a growing connectivity between the two asset classes, which allows shocks to destabilize financial markets to be transmitted. According to new IMF research, the correlation of crypto assets with traditional holdings like equities has risen considerably as adoption has surged, reducing their claimed risk diversification benefits and heightening the danger of financial market contagion. http://Deutschepartners.com

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