Category Archives: Finance

Over $40 Billion In Trade Deals, Participants From 55 Countries Expected At IATF2020 – Afreximbank President

NIAMEY, Niger –  The organisers of the Second Intra-African Trade Fair (IATF2020) expect it to surpass the achievements of the inaugural trade fair held in Cairo in 2018 by attracting 10,000 participants and generating intra-African trade and investment deals worth

Ecobank’s $50 Million Eurobond Oversubscribed

Ecobank Transnational Incorporated (ETI) $50 million Eurobond tap issuance offering successfully closes with books 4.6x oversubscribed and an improved yield of 8.25%. Ecobank Transnational Incorporated, ETI, the Lomé-based parent company of the Ecobank Group, announces that it has successfully tapped

Fidelity Bank Launches Facility for Automobile Spare Parts Traders

Fidelity Bank Plc has disclosed plan to launch a special business support facility for traders under the umbrella of Auto Spare Parts and Machines Dealers Association (ASPAMDA) and Association of Progressive Traders (APT), both located at the Lagos International Trade

Dollar Slips Ahead Of U.S. Jobs Data

The dollar dipped in Thursday afternoon trade ahead of Friday’s U.S. government jobs report, which is forecast to show slowed growth and will inform market expectations of interest-rate cuts in 2019. The U.S. Labor Department’s non-farm payrolls report includes public

Sterling Soars As Dollar Crashes On Weak U.S. Data

Sterling rose to a two-week high on Friday after weak U.S. jobs data weighed on the dollar and bolstered the case for a Federal Reserve interest rate cut. The pound is on course for its first weekly gain in five,

Crypto Entrepreneur Pays $4.57 million for Lunch with Warren Buffett

Cryptocurrency skeptic Warren Buffett will dine with a bitcoin enthusiast, all in the name of charity. Entrepreneur Justin Sun bid $4.57 million at a charity auction to have lunch with the legendary investor. Sun launched cryptocurrency TRX token in 2017.

CBN Intervenes in Forex Market with $476.83 million, CNY41.14 million

In a move to strengthen local currency, the Central Bank of Nigeria (CBN) defended Naira with an accumulative sum of $476.83 million and CNY41.14 million in May. Information available to our correspondent revealed that the apex bank in May intervened

Of debtors, law enforcers and Nigerian banking

A London based economic and political risk analyst that I have known for more than 10 years reached out to me a couple of weeks ago to ask this poignant question: “What’s going on in your country’s banking industry?” I

Pummelled Pound Set For Biggest Monthly Loss Against Euro In Two Years

The pound was on track for its biggest monthly loss against the euro in two years on Friday, also losing ground against the dollar as currency markets were swept by rising risk aversion. U.S. President Donald Trump’s shock threat to

Nigeria’s e-Payment Transactions Hits N34.02 trillion in Q1 ’19 – NBS

A total of 557,083,712 electronic-payment transactions valued at N34.02 trillion were recorded in selected banks across the country in the first quarter, 2019, Nigeria’s Statistics Bureau has said. The National Bureau of Statistics (NBS) said this in a report on