Ecobank moves to attract forex inflows, offer Nigerians in diaspora mortgage loan, investment platform

Ecobank Nigeria has rolled out several investment packages and opportunities to encourage Nigerians in the diaspora to own houses in the country and also participate actively in money and capital markets investment. Ecobank Head of Consumer Banking, Olukorede Demola-Adeniyi said the bank is offering mortgage loans to Nigerians living abroad to finance property ownership... Read More

Qatar may invest $5 bln in Nigeria, to partner country’s Sovereign Wealth Fund

The oil-rich state of Qatar is to invest about $5 billion in Nigeria’s economy, according to the country’s Foreign Affairs Minister, Godfrey Onyeama. Onyeama said there had been discussions with Qatar on partnership with Nigeria’s Sovereign Wealth Fund (SWF), for significant investments in the region of $5 billion in the Nigerian economy. According to... Read More

US Dollar Index shows signs of weakness

By James Huckle Despite the recent jump up in the US Dollar Index (+3.3% YTD), it remains range-bound and weak The break down in July of last year set the index on a broadly downward trajectory Volatility has begun to expand, decreasing stability, and increasing risk Signs of weakness The US Dollar index has... Read More

Will Bitcoin, other cryptos defy law of gravity or sustain growth?

Many Nigerians and other discerning investors across the globe are always looking for smart opportunities to quickly turn over their resources or grow their wealth. Bitcoins and cryptos, on the face of it, seem to present the way to that desired Eldorado! The seemingly unstoppable rise of Bitcoin has continued with the cost of... Read More

Nigeria’s pension assets drop 0.16 to N12.3 trln in Feb –PENCOM

Nigeria’s total Pension assets fell by 0.16 percent to N12.30 trillion as of January 31, 2021 from N12.31 trillion it was as of December 31, 2020, according to the latest report from the National Pension Commission (PenCom). The portion of the assets invested in government debt instruments in January stood at N8.107 trillion against... Read More

Nigeria investment in rail is targeted at creating jobs~Amaechi

The major reason for Nigeria’s investment in the rehabilitation and construction of rail lines all over the country is to create employment for the youths, according to the Minister of Transportation Rotimi Amaechi. In a statement on Sunday, the minister said the ongoing rail projects would contribute to the GDP of the country because... Read More

P&G, Colori Cosmetics production agreement to attract $35 bln foreign investment to Nigeria

Procter & Gamble (P&G), a consumer goods manufacturer has signed a production agreement with Colori Cosmetics for the local production of Oral B products in Nigeria. The parties to the agreement explained that the partnership represents a new investment of $35 million with additional direct jobs of over 200 expected to be created. The... Read More

Nigeria’s equity market declines 0.40% as investors dump bell-wether stocks

By Samuel Bankole   Nigeria’s equity market sustained its downward slope on Thursday, declined 0.40 percent as investors sell down their positions in bell-wether stocks. Shares of the Nigerian Breweries, Dangote Sugar Refinery and construction giant Julius Berger were under selling pressure from investors. The market main index, the All-Share Index (ASI) closed at... Read More

UK development firm plans to invest $1 bln in Nigeria, 3 other African nations

CDC Group is planning about $1 billion in Africa investments this year in sectors including infrastructure and finance, and is part of a consortium considering a bid for a new telecommunications license in Ethiopia. The U.K. development-finance institution is matching a similar outlay made on the continent in 2020, Chief Executive Officer Nick O’Donohoe said... Read More

Nigeria seeks private sector investment to boost infrastructural

GFDNews Correspondent Nigeria on Thursday said it plans to adopt new models of investments for infrastructural development in the country as public sector expenditure alone is no longer sufficient or capable of meeting the $3 trillion needed to bridge the infrastructural deficit over the next 30 years. Vice President Yemi Osinbajo stated this in... Read More