September 27, 2020
  • September 27, 2020

Market Update: Nigeria’s money market sees more liquidity, interest rate drop

by on September 21, 2020 0

Nigeria’s interbank money market rate is seen decreasing this week as currency dealers anticipate the injection of fresh liquidity into the system from matured Open Market Operation (OMO) bill and coupon payment on federal government bonds. Currency traders at Citibank Nigeria said interbank rate declined last week by 13.50 basis points on the impact...

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More Nigerians embracing e-banking as cheque usage declines ~NIBSS, NBS data

by on September 10, 2020 0

By Oludare Mayowa Signs that Nigerians are gradually embracing the e-payments system in financial transactions came to light as the data on cheque clearing through the Nigeria Interbank Settlement System (NIBSS) continue to decline in favour of the e-banking system. According to statistics from NIBSS, cheque clearing for the month of August 2020 stood...

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First Bank merchant banking arm invests N20 bln in private equity

by on September 9, 2020 0

FBNQuest Funds, the merchant banking and asset management arm of FBN Holdings Plc, on Wednesday, said that it had invested over N20 billion in private equity since 2003. The company’s Vice President, Alternative Investments, Mr Christian Ekpo, disclosed this at a virtual FBNQuest engagement session organised to provide some industry insights into its business....

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CBN to injects N1.2 trln via OMO maturity into banking system

by on September 9, 2020 0

Monthly Money Market Review and Outlook In August 2020, financial system liquidity improved compared to the previous month, as the effect of naira inflows outweighed naira outflows. The Federation Account Allocation Committee -FAAC inflows (N342 billion) and net-OMO inflows (of about N712 billion) outweighed the double CRR debit witnessed during the month. Overall, the...

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