Finance articles

CBN: $2.2b foreign capital inflow boosts equities

CBN: $2.2b foreign capital inflow boosts equities

The Central Bank of Nigeria (CBN) has linked the current upbeat performance in the Nigerian Equities market to the inflow of $2.2 billion foreign capital from portfolio investors. The cash came in through the special Investors/ Exporters (I&E) Forex Window launched last April, according CBN Director, Banking Supervision, Abdullahi Ahmad. The creation of the special

Fiscal Sustainability Plan: World Bank Set to Assist Nigeria

The World Bank Group is set to assist state governments improve their fiscal sustainability by strengthening and consolidating the Fiscal Sustainability Plan. The development was confirmed by a statement issued on Friday by the Director of Information in the Federal Ministry of Finance, Salisu Dambatta. The FSP was introduced by the Federal Government in 2016

Naira to gain further on stock purchases –Analysts

The naira is expected to strengthen against the United States dollar in the coming week as offshore investors pile into local stocks, currency and financial analysts have said. According to them, the naira will likely strengthen against the dollar in the coming days as more offshore investors buy up local stocks after MSCI increased the

Naira firms up as CBN resumes intervention with $418m

The exchange rate at the parallel market remained stable at N367 to the dollar yesterday, as the Central Bank of Nigeria (CBN) again injected $418m into foreign exchange market. The intervention, which cut across various segments of the inter-bank forex market, was aimed at pushing for the convergence of various market rates and resumption of

BREAKING: Finally, Acting President Osinbajo signs 2017 Budget

The acting President, Yemi Osinbajo, on Monday signed the 2017 Appropriation Bill into law. Osinbajo appended his signature on the document at about 4:41pm inside the Presidential Villa, Abuja. The brief event was witnessed by principal officers of the National Assembly, presidential aides and other top government officials.

BDC operators advise CBN on naira

The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised the Central Bank of Nigeria (CBN) on steps to sustain the naira’s  recovery against dollar. The naira has remained at N362/$1 at the parallel market in the last one week, a major improvement from N520/$1 in February. In a statement released yesterday, ABCON

Crude oil price drops, threatens Naira, 2017 budget

Nigeria’s excess crude oil revenue has dropped by five per cent as oil prices fell to $49.26 per barrel yesterday, posing fresh threat to implementation of the yet unsigned 2017 budget and the exchange rate of the naira. Specifically, the nation generated about $114 million from the export of about two million barrels per day