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   Market Date: 31-07-2014   
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Money Market

  1. MPC meeting preamble: Change at CBN helm but not in MPR

    The Central Bank of Nigeria (CBN) concludes its two day monetary policy committee (MPC) meeting today which will be the first MPC meeting chaired by new CBN Governor Godwin Emefiele.
  2. MPC to hold benchmark rate at 12%

    The Central Bank of Nigeria’s Monetary Policy Committee will leave interest rates unchanged for the 17th time in a row on Tuesday as it tries to balance controlling inflation and supporting the naira with fostering growth, Reuters reported quoting its pol
  3. Ahead of MPC: Major Policy Tweak Unlikely …as Emefiele chairs first MPC meeting

    The Monetary Policy Committee (MPC) will be meeting on the 21st and 22nd July, 2014 (the first meeting to be chaired by the new CBN Governor, Godwin Emefiele) to discuss developments in the global and domestic economy and deliberate on appropriate monetar
  4. CBN Extends BDC’S Compliance Period to July 31, 2014

    Further to our Circular ref: FPRD/DIR/GEN/CIR/01/009 of June 23, 2014 on “New Requirements for the Operation of Bureau De Change in Nigeria”, the Central Bank of Nigeria, based on representations from stakeholders
  5. WemaBank secures over $50m trade lines of credit from foreign correspondent banks

    In continuation/support of its recovery based on a strong emphasis on solid growths in key areas of its banking operations, Wema Bank Plc announced over the weekend the anticipated new credit lines/development finance for its customers.
  6. Time for the CBN to Stop the Excesses it Created through BDC's

    Nigeria's central bank has intensified work to address the current state where it has inadvertently created a huge arbitrage in the FX market and consequentially, aided the dollarization of the economy.
  7. CBN RELEASE: New Requirements for BDCs

    The Central Bank of Nigeria (CBN) has informed the general public through her press release of Monday 23rd June, 2014 of New Requirements for Bureau De Change operators.
  8. The New Requirements for BDCs from Central Bank

    The Central Bank of Nigeria, in a bid to correct observed deficiencies in the operation of Bureaux de Change (BDCs) in Nigeria which have led to gross inefficiencies and sharp practices in the foreign exchange market, has taken steps to check the growing
  9. Setting an Agenda for the new CBN Governor – A Multinational Perspective

    In view of the current state of the Nigerian economy, the finance sector and the money market, what will you consider as his first priorities
  10. Nigeria and Its New Central Bank Head Enter Uncertain Territory

    Africa's biggest economy faces challenges ranging from currency devaluation to loan defaults linked to electricity privatization.
  11. No surprises, as the MPC leave stance unchanged

    It was business as usual at the MPC meeting. No changes expected nor changes made. Some analysts said what a bore
  12. Rejecting devaluation, CBN poised to hike CRR and Interest Rates

    Rejecting devaluation, Nigeria’s central bank is poised to hike bank cash reserve requirements and interest rates to prevent a 50% depletion of forex reserves by late 2014.
  13. “RISK AVERSE” Nigerian Banks Lag Behind Peers

    The past five years have been a time of change for Nigeria’s banks but not all of it for the good. In a recent report on the sector, analysts at Ecobank Research, part of the pan-African banking group, say strategies being pursued by Nigerian banks are no
  14. Nigeria’s 2009 Financial Crisis – Understanding the Systemic and Unsystemic Risks

    The 2009 financial crisis, which coincided with the global asset bubble, was one which weakened the solvency and liquidity of Nigerian banks, and significantly undermined investor-confidence. The crisis affected approximately 40% of the total banking sys-
  15. IMF Changes Position on AMCON

    The IMF Article IV is an annual country surveillance report which provides recommendations on a broad range of issues including fiscal, monetary and exchange rate policy; health care, pension, and labor market policy (including wages, unemployment compens
  16. Expectations on Monetary Policy from the incoming CBN Regime

    Following the exit of the former Governor of the Central Bank of Nigeria (CBN) Mallam Sanusi Lamido Sanusi (Mallam Sanusi), the interim management, headed by Dr. (Mrs.) Sarah Alade the Deputy Governor in charge of monetary policy, has been steering the af
  17. The Economy of Financial Inclusion in Nigeria: Theory, Practice and Policy

    A large number of adults in developing countries lack access to formal financial services but there are many things that are required to reduce the number across nations. This study investigates through the use of questionnaire, the extent to which adults
  18. MPC meeting: Key decisions and Thoughts - Cordros

    The MPC met on March 24 and 25, 2014 to consider the future path of monetary policy in an environment of increased risks and uncertainties.
  19. Central Bank retains the MPR at 12% with a corridor at +/-2%, holds CRR for Public Sector

    The Monetary Policy Committee (MPC) met on March 24 and 25, 2014 against the backdrop of challenging monetary policy environment; particularly, in the emerging markets and developing economies; coupled with the unfolding risks to stability in the domestic
  20. MPC meets on Monday, Keep your fingers crossed

    The first post-Sanusi MPC meeting will hold next week on the 24-25th of March and the markets await the outcome of the meeting with fingers crossed. The major concern for the committee remains exchange rate stability and the depleting external reserves le
  21. Is the world’s financial system safer now? – From Speech by Jon Cunliffe

    Speaking at a Chatham House conference on Monday, Jon Cunliffe, Deputy Governor, Financial Stability, surveys the progress that has been made by international standard setters since 2008 in making the financial system safer, sets out the further steps tha
  22. March 24-25th MPC Meeting has to consider depreciating the Naira, tighten CRR - BJ Rewane

    The Central Bank of Nigeria (CBN) may adopt a mixed bag of depreciation of the naira and further tightening of the Cash Reserve Requirement (CRR) on public deposits at its March 17 meeting to stabilise the monetary system, Managing Director, Financial Der
  23. Bank Of England Does Not Blink

    The Bank of England, or BoE, on Thursday decided to leave its key bank rate unchanged at 0.5 percent, and kept its asset-purchase program constant, in line with expectations.
  24. AMCON: Leading Stabilizer amongst Peer Countries. An idea of What's Next

    The Asset Management Company of Nigeria was established in 2011 as a macroeconomic stabilizing institution. This was at a time of a global economic and financial crisis, the worst since the Great Depression. In Nigeria, it was a time of a multidimensional
  25. CBN approves closure of 83 micro-finance banks

    The Central Bank of Nigeria (CBN) has approved the liquidation of 83 micro-finance banks, Alhaji Umaru Ibrahim, the Managing Director, Nigeria Deposit Insurance Corporation (NDIC), said on Tuesday in Abuja.
  26. Sanusi’s suspension is negative for the markets, but poses no material risk to monetary policy

    The Federal Government of Nigeria (FG), through the Special Adviser to the President on media and publicity, Dr. Reuben Abati, has announced the suspension of Mallam Sanusi Lamido Sanusi, the Governor of the Central of Nigeria (CBN). Dr. Sarah Alade, bein
  27. UPDATE 5: On-going Coverage - Impact of Sanusi's Suspension on the Market

    Stock Market 10:59am: Opened flat and nose-dived, currently trading below the line by -0.64%
  28. MPC Meeting Outcomes - Liquidity Tightening: Big News, Marginal Impact

    The CBN Monetary Policy Committee (MPC) met today and decided to raise banks Cash Reserve Ratio (CRR) on public deposits to 75% from 50% previously, effective 04 February 2014.
  29. CBN Communiqué No. 93 of the Monetary Policy Committee Meeting 210114

    The Central Bank of Nigeria (CBN) today raised its cash reserve ratio (CRR) on public sector deposits to 75% from 50%.
  30. Ahead of MPC - MPR to remain at 12% but hopefully with more regulatory oversight

    The Monetary Policy Committee will be meeting on the 20th - 21st January, 2014 to deliberate and take key monetary policy decisions.
  31. Dollar moves to N178 to $1 in the Black Market – What is Happening?

    The consistent rise of FX in the Nigerian black market is not entirely strange but not expected at this time/period as the market is traditionally flooded with inflows.
  32. Gabon's 2024 Eurobond: valuations still look expensive

    Gabon to issue new Eurobond. The Gabonese Republic announced earlier this week that it would issue a new 10-y Eurobond at a minimum yield of 6.125% and partially exchange 2017 bonds for the new 2024 notes. The minimum specified amount of the new Eurobond
  33. IMPACT OF CRR HIKE ON NIGERIAN BANKS: Emergence of a new trend in Profitability index?

    When the Monetary Policy Committee met on July 22nd and 23rd 2013 to review the economic conditions and challenges that confronted the Domestic Economy in the first half of the year, particularly since the last MPC meeting in May 2013 and to determine whe
  34. FNB plans to expand into Nigeria’s Retail Banking Sector

    First National Bank (FNB), South Africa has put plans in motion to extend its operations to Nigeria and Ghana in 2014.
  35. Static MPC still has implications for markets

    At its final meeting of the year, the Monetary Policy Committee (MPC) of the CBN left key policy tools unchanged in line with our expectations. In particular, with the news of the choice given to banks on the means of AMCON bonds repayment we tilted in fa
  36. FBN, a subsidiary of FBN Holdings Plc, announces its acquisition of the W/African ops of ICB

    FIRSTBANK LTD (First Bank Commercial Banking Group or the Bank), a subsidiary of FBN Holdings Plc announces today that it has completed the acquisition of a 100% equity interest in ICB GHANA, ICB SIERRA LEONE, ICB GUINEA and ICB GAMBIA from INTERNATIO
  37. CBN Monetary Policy Committee: Beyond a pedestrian focus on personalities!

    The Monetary Policy Committee of the CBN was reconstituted following passage of the new Central Bank of Nigeria Act 2007 into law by the National Assembly. The committee is currently composed of 12 members with the CBN Governor serving as its Chairman.
  38. Union Bank of Nigeria Plc Announces CBN Approval of Compliance Plan

    Union Bank of Nigeria today reported to the Nigerian Stock Exchange that it has received from the Central Bank of Nigeria (CBN) the approval to go ahead with its plans for complying with CBN’s Regulation 3 on the Scope of Banking Activities and Ancillary
  39. Fed Proposes Stricter Liquidity Rules for Largest U.S. Banks

    The Federal Reserve moved to strengthen the ability of the largest banks to withstand periods of market stress, pushing them to hold additional levels of safe assets to fund their operations.
  40. How Profitable are Nigerian Banks?

    Financial Institutions such as banks form the core of a country’s financial system and as such healthy and profitable institutions help to build the economy, and strongly contribute to the stability and resilience of the entire financial system.

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