Saturday, August 19, 2017 08:00 AM / Proshare
From the Editor’s Desk
The recent economic bulletin published by the Central Bank, showed that standing lending facility (SLF) provided to the system in the first quarter of 2017 stood at N12,518billion. This reflects a 5.5% increase compare to the previous quarter; thus implying strained Naira liquidity in the system even though volatility in the interbank may have been subdued. It is expected that Naira liquidity will still be tasted for some time.
In addition, the standing deposit facility stood at N3,351.2 billion compared to the previous quarter and corresponding quarter, which stood at N2,958.2 billion and N6,661.24 billion, reflecting an 11% increase and 99% slump respectively.
Expectedly the rates charged on SDF corridor, strained Naira liquidity coupled with high rates on government securities. This will for some time hold back the SDF from reaching earlier levels of 2014.
Fig 1: Standing Lending Facility and Standard Deposit Facility
Liquid assets of banks rose for the 3rd quarter on a row to N7,555.3 billion in the first quarter of 2017, which implies a 6.5% and 8.5% increase compare to the previous quarter and corresponding quarter. Liquid asset of bank will be largely dictated by macro fundamentals, moving forward.
Monday, August 21, 2017
The Nigerian Bar Association 2017 Conference begins its plenary session in Lagos today with the theme “African Business: Penetrating through Institution Building”, while the American Federal Aviation Administration, FAA, visits Nigeria to assess the country’s civil aviation industry.
Custodian and Allied Insurance Plc will be marked down today having declared an interim dividend of 10 Kobo.
Wednesday, August 23, 2017
The Federal Government will today offer for subscription by auction, N135 billion bonds through the Debt Management Office (DMO).
Rak Unity Petroleum Company Plc will hold its Annual General Meeting today, while the Chartered Institute of Purchasing and Supply Management of Nigeria (CIPSMN) will hold its batch ‘B’ 2017 Mandatory Proficiency Development Programme (MPDP) in Procurement and supply chain management for its members.
The 2-day Badagry Diaspora Festival will commence today.
Thursday, August 24, 2017
Nigeria-South Africa Chamber of Commerce (NSACC) will discuss “Africa, the Next Big Thing-Focus on Aviation and Tourism” during its meeting today, while NEM Insurance Plc will hold its Annual General Meeting.
The Federal Road Safety Corps (FRSC) has scheduled its 7th Annual Lecture series to hold today in Abuja, while the National Bureau of Statistics will today release the July 2017 monthly FAAC disbursement report.
Friday, August 25, 2017
McNichols Consolidated Plc will be marked down today having declared a dividend of 3Kobo. The National Bureau of Statistics will release the Q2 2017 monthly VAT by Sector report today.
Saturday, August 26, 2017
The Chartered Institute of Bankers of Nigeria (CIBN)