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CBN To Penalise Banks With Cash Problems

CBN To Penalise Banks With Cash Problems

The Central Bank of Nigeria has said it will penalise Deposit Money Banks that have liquidity challenges by way of temporary suspension from its lending window. In a circular issued on Wednesday, the apex bank announced a change in its rules of engagement with the banks, spelling out new rules regarding how financial institutions could […]

Nigeria Economy Records Worse Investment

Nigeria Economy Records Worse Investment

  The Nigerian economy recorded its worst investment inflow in 10 years with the country attracting a total investment of $5.12bn in the 2016 fiscal period. The $5.12bn investment figure, when compared to the $9.64bn that the economy attracted in 2015, represents a decline of $4.52bn or 46.86 per cent. The decline was confirmed in […]

Nigeria An Opportunity For Fx Brokers As Domestic Banks Banned For 8 Weeks

Nigeria An Opportunity For Fx Brokers As Domestic Banks Banned For 8 Weeks

Nigeria’s interbank FX sector has fallen flat on its face, and the widespread disarray in local markets makes overseas FX brokerages absolutely attractive to Nigerian IBs. For those with unrelenting will, it may well be a good market to revisit National disarray, corruption, lack of direction and chaos + a series of willing and eager […]

Ikej Electric Says Inflation, Forex Threatening Its Operations

Ikej Electric Says Inflation, Forex Threatening Its Operations

  Ikeja Electric Plc, yesterday in its sustainability report titled, “Building A Customer-Centric Business-Our Journey to Sustainability,” said inflation, foreign exchange scarcity among other challenges have continued to threaten its operations, Speaking on the report, the chief executive officer, Mr. Anthony Youdeowei said “conditions such as inflation and Foreign Exchange (forex ) fluctuations still pose […]

Still On CBN’s Forex Policy

Still On CBN’s Forex Policy

The Central Bank of Nigeria (CBN) was reported to have said on Monday that it would not allow free floating of the naira. This is a scandalous pronouncement that anyone with a rudimentary knowledge of economics cannot but deplore. The CBN is not expected to make pronouncements that are not fair to the Nigerian market. […]

Naira Reverses Loss After Dropping To 500/Dollar

Naira Reverses Loss After Dropping To 500/Dollar

  The Naira dropped against the United States dollar from 498 to 500 at the parallel market during the early trading hours on Monday, crossing the critical threshold currency analysts had predicted. Foreign exchange traders linked the development to relative scarcity of the greenback in the forex market. The local unit, however, reversed the loss […]

Black Market Naira At 499 Per Dollar 39 %Discount On Nigeria Rate

Black Market Naira At 499 Per Dollar 39 %Discount On Nigeria Rate

  Nigeria’s naira was quoted as low as 499 to the dollar on the black market on Tuesday, 39 percent weaker than on the official market, where the central bank has been selling the greenback to support the local currency. On the official market, the naira was quoted at 305.25 on Tuesday, the level it […]

Making Forex Trading Profitable

Making Forex Trading Profitable

Planning is the basis for profitable trading. At times, one loses focus, which could have a negative impact on a trader’s account. It has regrettably happened to me. Sharing my thoughts and experience on this venture for full-time and part-time traders is worthwhile. The points discussed below are areas of expedient focus. Training Training remains […]

Banks’ Dollar Sales To Clients Rise Up 26.92%

Banks’ Dollar Sales To Clients  Rise Up 26.92%

Trading activity in the Spot foreign exchange market between the banks and their clients for the week-ending January 20, 2017 stood at $203.70 million with an average daily turnover of $40.73 million, representing a 26.92 percent increase from the $160.50 million and average daily turnover of $32.10 million recorded in the previous week Activity in […]

Banks Make Big Moves As Investor’s Eye Dividends

Banks Make Big Moves As Investor’s Eye Dividends

Fig 1: Bank performance ytd (Jan 26) STOCK YTD % UNITY BANK PLC 29.09% FCMB PLC 20.00% ACCESS BANK NIGERIA PLC 18.40% DIAMOND BANK NIGERIA PLC 17.05% UNITED BANK FOR AFRICA PLC 14.44% STANBIC IBTC BANK PLC 13.33% FIDELITY BANK PLC 8.33% ZENITH BANK PLC 5.08% FIRST BANK OF NIG. PLC 5.07% WEMA BANK PLC […]

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