Saturday, July 15, 2017 08:00 AM / Proshare
From the Editor’s Desk
The apex bank for some time have raised concerns about the trajectory of narrow money (M1) and the possible up risk it poses to inflation. The most recent figures of narrow money made available by the bank showed that Narrow money (M1) stood at 10.21 trillion naira, which reflects a 2.7 % shrink compare to the previous month of January and 23.3% rise over 12 month period. Demand deposit stood at 8.6 trillion, therefore slimming down by 10.4% compare to the previous month of January 2017: at the same time ensuring the trajectory of it curve fall in line with that of narrow money. Currency in circulation in the same period stood at 1.75 trillion naira. Thereby it fell by 10.4% and 20% when compared to the previous month and January 2016 respectively. The steep movement in currency in circulation tapper down earlier fears that narrow money is an upside risk to inflation, evidently the jolt in narrow money is “merely’’ a product of monetary illusion.
Fig 1: Illustration of narrow money
Source: CBN, Proshare research
On Monday July 15, 2017, the National Bureau of Statisticswill make available inflation figures for the month of June. As core inflation maintain its downward path coupled with the gathering momentum of the raining season. It is expected that headline line inflation should cave inwards.
Monday, July 17, 2017
The National Bureau of Statistics will today release the June 2017 Consumer Price Index & Inflation, AGO/Diesel Price, PMS/Petrol, HHK/Kerosene, Transport Fare, Liquefied Petroleum Gas (cooking gas) and Selected Food Prices Watch.
The pioneer Infrastructure Debt Fund in Nigeria, the “Chapel Hill Denham Nigeria Infrastructure Debt Fund” has been established and will be listed on the FMDQ OTC Securities Exchange today. Africa Prudential Registrars Plc will today visit the Exchange and sound the closing gong.
The first ever Financing Summit for the Nigerian Creative Industry will commence today.
Tuesday, July 18, 2017
The E-Government Summit 2017 designed to bring decision makers and thought leaders in the private and public sector on a single platform to discuss, network and set an agenda that will yield quantum result for sustainable economic development will commence today in Abuja.
Wednesday, July 19, 2017
Thursday, July 20, 2017
The Debt Management Office will visit the Nigerian Stock Exchange today to list the FGN Diaspora Bond, while the Nigeria-South Africa Chamber of Commerce (NSACC) Breakfast meeting focusing on “Smart Security” holds.
Fidson Healthcare Plc will hold its Annual General Meeting today.
Friday, July 21, 2017
BusinessDay’s Fintech Summit 2017 focusing on “Harnessing the Power of disruptive innovation in Fintech” will hold today
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