Economic and financial experts have said that the country’s inflation rate may rise further to 20 per cent during the first quarter of this year from the current 18.4 per cent. They, however, said the inflation rate was expected to reduce significantly as the fiscal and monetary authorities would begin to implement certain policies to …
Inflation rate may hit 20% in first quarter —Experts Read More »
As economic recession continues to weigh on the banking sector, non-performing loans ratio in the banking industry has crashed further above the Central Bank of Nigeria’s five per cent threshold. The NPLs ratio fell to 13.4 per cent in September 2016, up 11.7 per cent recorded in June 2016, according to a Bloomberg report. The …
Investors in the nation’s stock market lost over N214 billion last week following massive selloff of shares of highly capitalized companies across the sub sectors on the Nigerian Stock Exchange, NSE. Consequently, the market capitalization of the NSE which represents the total value of stocks traded on the exchange dropped from N9.246 trillion it opened …
Stock Market: Investors lose N214bn as market closes on marginal gains Read More »
Generally, life works clockwise, taking you round in circles as you begin the year in January and end it in December only to start the process again. The difference however, is that change is constant and your decisions at the beginning of the year determines how the rest of the year goes. Decisions can be …
Members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM Nigeria have been thrown into panic and great confusion, last Tuesday, following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for one month. All members woke up with the shock message displayed on the screen as …
MMM Nigeria freezes all confirmed accounts as panic, confusion grip Nigerians Read More »
A West African bloc called on Nigeria and other countries to undergo “necessary structural reforms” to improve their economies, as a collapse in oil and commodity prices continues to cripple economic growth. Nigeria and other member countries should “take appropriate economic and financial stimulus measures in order to be less vulnerable to commodity price fluctuations …
ECOWAS urges Nigeria, others to reform economies Read More »
Investors on the Nigerian Stock Exchange, NSE, have gained N468 billion in three weeks, as the positive run in the stock market continued last week. This sharply contracts the N660 billion loss suffered by investors last month on the NSE. Data from the NSE showed that market capitalization, which represents total value of all listed …
Stock market rebounds as investors net N468bn in 3 weeks Read More »
Nigeria’s overnight lending rate fell this week to around 3 percent on Friday from an average of 3.9 percent a week ago on expectations that budget cash will be injected into the banking system on Friday or Monday, traders said. Nigeria, an OPEC member and Africa’s biggest economy, relies on crude oil sales for two-thirds …
Nigeria interbank lending rate eases on budget cash injections Read More »
THE management of Nigerian Ports Authority (NPA) has written off N119 billion bad debts. The debts are monies owned the agency by terminal operators and some of its partners in the last ten years. The Managing Director of the Authority, Ms Hadiza Bala Usman, said that private companies and government agencies owe NPA about N10 …
Christmas is fast approaching and a lot of festivities will be going on. While some people are focusing on their weight, especially after two holidays of eating good food, others are focusing on their finances and setting financial goals for the New Year 2017. There is no better time to start planning your finances than …
