Tinubu’s Economic and Financial Reforms: Gains, Pains, and Missed Targets
CBN also implemented wide ranging foreign exchange reforms, chiefly the elimination of multiple exchange rates to curb arbitrage, enhance transparency and boost investors’ confidence.
MTN Nigeria raises N127bn via commercial paper
By Nkiruka Nnorom MTN Nigeria Communication Plc has raised N127 billion through commercial papers (CP). The N127 billion was raised through the issuance of series 1 &11 notes under the company’s N150 billion commercial papers (CP) programme. The issuance consisted of two tenors – a 184-day series issuance priced at a 7.50 per cent yield […]
FG’s deficit spending rises 23% to N7.3 trn
By Elizabeth Adegbesan Deficit spending by the Federal Government (FG) rose by 23.7 per cent, YoY, to N7.3 trillion in 2021 from N5.9 trillion recorded in 2020. The Central Bank of Nigeria, CBN, disclosed this in its fourth quarter 2021 (Q4’21) Statistical Bulletin report. The 23 per cent rise in FG’s deficit spending was caused […]
STOCK MARKET: Investors’ dividend earnings up 47.1% to N1.1trn
lAs RoI outperforms GDP growth, inflation lReturns not reflecting on share price-Shareholders lDangote Cement takes lead with N340.8bn By Peter Egwuatu Stock market investors are set to enjoy a 47.1 per cent YoY increase in dividend earnings to N1.1 trillion for the financial year ended 2021, up from N732.9 billion the preceding year 2020. The […]
Anchor Insurance gets nod to sell passengers’ flight welfare scheme
By Rosemary Iwunze The National Insurance Commission (NAICOM) has approved Local Passengers’ Flight Welfare Scheme for Anchor Insurance Company Limited. This follows the firm’s determination to expand its retail market which aims to subsequently increase premium earnings and deepen penetration.Managing Director of the company, Mr. Ebose Augustine, said that the scheme will run henceforth with […]
Net foreign exchange inflow falls 27% to $52.46bn
•CBN’s FX sale in I&E rises 76.9% to $4.6bn By Elizabeth Adegbesan Net foreign exchange (forex) inflow into the economy fell by 27 per cent, Year-onYear, to $52.46 billion in 2021 from $70.66 billion in 2020. Vanguard analysis of the fourth quarter 2021 (Q4’21) statistical bulletin of the Central Bank of Nigeria, CBN, showed that […]
