CBN: Import Prohibition Attracts $10b Investment

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, said the import prohibition policy of the apex bank has attracted investment valued at $10billion into the country. The CBN chief spoke in Abuja during an interactive seesion with the Joint House Committees on Finance, Appropriation; Aids, Loans & Debt Management and Budget Research on the 2018-2020 Medium Term Expenditure Framework/Fiscal Strategy Paper. Represented by Deputy Governor, Operations, Adebayo Adelabu,Adebayo Adelabu, the CBN governor said a reduction in inflation...

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Nigeria Raises $3bn At International Capital Market

The Minister of Finance, Mrs Kemi Adeosun, says Nigeria has raised $3bn at the international capital market. She made this known in a statement issued by Mr Oluyinka Akintunde, the Special Adviser, Media and Communications on Wednesday in Abuja. She said the Notes comprised a $1.5bn 10-year series and a $1.5bn 30-year series. “The 10-year series will bear interest at a rate of 6.5 per cent, while the 30-year series will bear interest at a rate of 7.625 per cent. “By raising $1.5bn of 30-year notes, Nigeria has emulated a number of our international...

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Banks may soon publish list of accounts without BVN

As the expiration of the November 3 deadline for all account holders to obtain Bank Verification Numbers (BVN) ended on Friday, compilation of accounts without BVN has started in banks. Deposit Money Banks, are carrying out the exercise sequel to the order of the Federal High Court in Abuja and may soon publish the list in newspapers in line with the directive of the court. According to bank executives, the list after compilations will also be sent to the Federal Government through the Central Bank of Nigeria. Recall that the court presided...

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NSE RoundUp! Nigerian equities net N165bn gains amidst global equities rally

Nigerian equities sustained a largely bullish performance during the immediate past week, leaving investors with net capital gains of N165 billion at the weekend. Benchmark indices at the Nigerian Stock Exchange (NSE) showed widespread positive sentiment as quoted companies rounded off the submission of their third quarter earnings. The deadline for the submission of the nine-month third quarter earnings for quoted companies elapsed on Tuesday October 31, 2017. Most active companies met the deadline. The All Share Index-the value-based index...

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