Economy To Grow Bigger With Well-Developed Manufacturing Value Chain – MAN
Speaking at the just concluded annual general meeting (AGM) of the association, Mansur Ahmed, president of MAN, said firms producing the initial goods often do not make as much money as those that do the final processing due to broken linkages in the value chain. Click here for more.
Commercial Agriculture Credit Intervention Hits N360.5bn
The Central Bank of Nigeria (CBN) has put the total value of its intervention under its Commercial Agriculture Credit Scheme (CACS) since inception in 2009, at N360.5 billion. It also revealed that at the end of July, 2019, N15.3 billion had been repaid under the scheme. Click here for more.
Investors Lose N184.49bn WoW As NSEASI Dips By -1.38% To Close The Week Negative
Equities market closed Friday on a negative note, as NSEASI depreciated by -0.39% to close at 27,146.57 points as against -0.25% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.63%. Click here for more.
Manufacturing equities hit by harsh business environment
The manufacturing sector was not isolated from the harsh operating environment as the bottom-line of the listed equities, especially in the last few years has remained susceptible to the challenges facing the agribusiness in Nigeria. Click here for more.
Forex Intervention: CBN Injects $321.11m, CNY 33.3m into Retail SMIS
The Central Bank of Nigeria (CBN) has made another intervention in the Retail Secondary Market Intervention Sales (SMIS) to the tune of $321, 112,537.31. Click here for more.
CBN injected $2.63 billion to defend Naira in one month
As part of its continued intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) injected a cumulative sum of $2.63 billion to further sustain relative stability in the Foreign Exchange (FX) market. According to the latest CBN’s monthly economic report covering the month of July 2019, Nigeria’s apex bank made available a whopping sum of $2.63 billion to authorised dealers in July. Click here for more.
SEC Initiates Framework For Market Surveillance, Monitoring
As part of its investor protection mandate, the Securities and Exchange Commission, SEC, has initiated a framework for surveillance and monitoring of the capital market. Acting Director General, SEC, Ms Mary Uduk, disclosed this on the sideline of the Capital Market Committee, CMC, meeting held in Lagos. Click here for more.
PenCom to boost assets with micro pension
The National Pension Commission says it is driving the growth of the Micro Pension Plan and that it expects it to have positive impact on the economy and boost the pension assets. Click here for more.
Access Bank Grows Half-year Profit by 62% to N74bn, Declares 25k Interim Dividend
Access Bank Plc has begun reaping benefits of its merger with the defunct Diamond Bank Plc as it has recorded improved performance for the half year(H1) ended June 30, 2019. The audited results unveiled last Friday, showed gross earnings of N324.4 billion, indicating a growth of 28 per cent from N253.0 billion in the corresponding period of 2018. Click here for more.
Low financial inclusion increases dirty banknotes in circulation
Over the years, the growth in economic activities and the upsurge in population had necessitated the rise in the volume of banknotes in circulation. The volume of naira notes in circulation in the country as of the end 2012 rose significantly by 10.34 per cent to 7.9tn pieces, as of half year of 2018, according to the Central Bank of Nigeria. Click here for more.
Iran’s Dark Fleet of Tankers Poses Oil Market’s Biggest Mystery
The quest has led to ever more inventive methods of tracking ships, and divergent views on the amounts of crude secretly slipping into world markets. That’s because the vessels have mostly “gone dark” since sanctions were tightened this year, switching off transponders that would reveal their location. Click here for more.