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The overnight tenor of the Nigerian Interbank Offered Rates
(NIBOR) fell on Friday after the central bank repaid matured treasury bills and
cash meant for government’s capital projects reached the system, traders said.
Overnight lending rates fell to 11 per cent, below the central bank’s benchmark
14 per cent, from 15.5 percent the previous day.
Rates had risen above 100 percent at the start of the week because of a central
bank dollar ...
The Central Bank of Nigeria (CBN) is expected to settle
OTC FX Futures contract to the tune of $270.6 million on the interbank market
The transaction to be settled on the FMDQ OTC Securities Exchange would be the
fourth futures contract to mature since the introduction of the flexible FX
But analysts anticipate that the central bank would open a new futures contract
expected to mature October 2017.
With Nigeria’s Gross Domestic Product shrinking by 2.06 per
cent in the second quarter of the year, economic analysts has said the fiscal
authorities should strive towards growth as foreign investors will not invest
in an economy that is not growing.
Nigeria is currently facing stagflation as the receding
economy is accompanied by a rising inflation which was put at 17.9 per cent in
September by the National Bureau of Statistics. The ...
It’s nearly a year of pains for the Federal University of
Agriculture, Abeokuta (FUNAAB) since its $2 million grant from the Bill and
Melinda Gates Funded Cassava Adding Value Project (CAVA) was trapped in
the Treasury Single Account (TSA), the pool account for all government’s
The institution has been haggling with the Office of the
Accountant-General of the Federation (OAGF) on how to resolve the quagmire
while the ...
The Securities and Exchange Commission (SEC) has launched a
bid to simplify stock market’s account opening process and requirements for
low-income and financially- excluded segment of the population.
This is part of efforts to widen the domestic investors’base.
Less than three per cent of the population invests in
the stock market, a situation that narrows the national capital formation
process and subjects the market to ...