Nigeria will need 15 years to transform economy – World Bank VP
The World Bank says that Nigeria must sustain its current economic reforms over the next 10 to 15 years to position itself as a leading global economic power, not only in sub-Saharan Africa but worldwide.
FG borrows N2.2trn from local investors
*Demand for bonds, TBs up 75% to N4trn *Banks idle cash with CBN up by 126% By Babajide Komolafe In continuation of efforts to fund the N6.4 trillion deficit spending in budget 2022, the Federal Government borrowed N2.2 trillion from local investors in the first quarter of the year, Q1’22, through FGN Bonds, treasury bills […]
UKRAINIAN INVASION: Stock market projected to record mixed Q2 outlook
By Peter Egwuatu Analysts have projected that the second quarter 2022, Q2’22, is expected to record mixed trend in stock market outlook due to rising inflation and global oil prices occasioned by the ongoing Russia and Ukraine war. The analysts further opined that they expect trading in stock market this week April 2022 to close […]
Pension funds investments in FG bonds up 6.3% to N25.6trn
By Peter Egwuatu Pension Funds Administrators, PFAs, investments into federal government securities increased by 6.3 per cent to N25.6 trillion in the fourth quarter 2021, Q4’21, from N24.1trillion in the corresponding period of 2020. This comes at the backdrop of increased yields in fixed income securities, an asset class that includes federal government securities such […]
CBN, WSBI appraise financial inclusion efforts
By Prince Okafor In line with its moves to attain 94 per cent financial inclusion by 2024, the Central Bank of Nigeria, CBN, and the World Savings and Retail Banking Institute (WSBI) have outlined financial inclusion measures the formal financial sector operators should take to provide convenient products for the informal sector. This is coming […]
CBN bars credit guarantee companies from accepting deposits
By Elizabeth Adegbesan The Central Bank of Nigeria (CBN) has barred Credit Guarantee Companies (CGCs) from accepting deposits among other things. The apex bank disclosed this yesterday in its guidelines for regulation and supervision of CGCs in Nigeria. According to CBN, its efforts to stimulate lending to Micro, Small and Medium Enterprises (MSMEs) facilitated the […]
