The Central Bank of Nigeria (CBN) on Friday said it has raised a total of N19.48 billion from corporate and individuals to support the fight against the novel Coronavirus. In a statement by the regulatory bank’s director of Corporate Communications, Isaac Okorafor said the fund jumped from N15.32 billion on April 1 to N19.48...
Read MoreThe local unit of South Africa’s telecoms giant MTN Nigeria said its network has come under unprecedented pressure as demand has grown rapidly during the period of lockdown across two major states and capital Abuja. Nigeria two major cities, Lagos and Abuja have been lockdown by the government in a bid to contain the...
Read MoreDangote Cement Plc on Friday launched bids for its N100 billion 5-year bonds issuance in a bid to raise a medium-term debt to pay off existing debt, financial advisors to the debt issue has said. The biggest cement firm in Africa had last week announced plans to obtain regulatory approval to raise the medium-term...
Read MoreNigerian Breweries, local unit of Dutch brewing company Heineken N.V. said it will open the bids for its series 7 and 8 commercial paper aimed at raising up to N48 billion to the Company’s short term funding needs on April 6. In a regulatory filing to the Nigerian Stock Exchange (NSE), the brewer said...
Read MoreAgainst the backdrop of dollar scarcity due to declining foreign exchange reserves, some Nigerian banks are putting a cap on the amount individuals can withdraw with their debit cards while abroad, memo to customers by some lenders has revealed. Sources within the banking industry said many of the banks are taking the measures to...
Read MoreThe Central Bank of Nigeria (CBN) has so far raised a total of N15.32 billion in support of the fight against the novel Coronavirus in the country, the regulatory bank said in a statement late Wednesday. The amount raised, according to the bank’s director of Corporate Communications, Isaac Okorafor was from the time the...
Read MoreAfrican finance ministers want International Monetary Fund, World Bank and EU support for bilateral, multilateral and commercial debt relief amid the coronavirus crisis, the UN Economic Commission for Africa (UNECA) said. Africa is facing a perfect storm of an impending global economic downturn, plummeting oil and commodity prices and weaker currencies which threaten to...
Read MoreNigeria’s total debt stock rose to N27.40 trillion at the end of the fourth quarter of 2019, up 2.71 percent from the previous quarter’s figure, the Debt Management Ofice (DMO) has said. The country’s total debt had stood at N26.94 trillion in the third quarter of last year, according to data released by the...
Read MoreNigeria is proposing a debt issuance of between N75 billion and N165 billion for the second quarter of the year, according to the Debt Management Office (DMO) latest debt issuance calendar. The DMO plans to raise N30 billion and N60 billion across three tenor bonds in April and May respectively and between N15 billion...
Read MoreNigeria is projected to suffer the biggest loss in Africa due to the outbreak of the novel coronavirus as the sharp drop in global oil prices could chop off around $15.4 billion from the country’s expected revenue this year, a report by the African Energy Chamber (AEC) has shown. According to a report by...
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