Central Bank of Nigeria (CBN) on Monday, April 24, 2017, offered the sum of $246.2 million to authorized dealers at the forex auction in the interbank wholesale window, Small and Medium Enterprises (SMEs) and invisibles segments.
The assets under management (AUM) of the regulated pension industry increased by 16.1% y/y to N6.16trn (US$20.1bn) in December. We view the increase as creditable when we consider the softness of FGN bond prices over the period, and the arrears in contributions by some state governments and public agencies.
Nigeria’s Stock Market recorded +0.74% gain to close the month of March green as against -2.72% loss recorded in the month of February 2017. This put a halt to the two months downtrend as the NSE ASI YTD performance stands at -5.05% at the end of March 2017 to end Q1 negative.
Barclays Bank says it wants to find the next Paypal after selecting the second cohort of 10 companies to participate in its African accelerator programme. Shortlisted from a global field of applicants, the ten successful startups will undergo a rigorous 13-week growth acceleration programme at Barclays Africa’s Rise fintech innovation hub in Cape Town from mid-May.