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Market research, Financial and Macro-economic data from Nigeria

SBM Jollof Index, Smuggling of imported rice hits Lagos major markets, as residence brace for shutdown

Smuggling of imported rice hits Lagos major markets, as residence brace for shutdown

Nairametrics Research Team learnt that despite the ban on the importation of foreign-made rice, some Nigerian traders are still importing foreign rice into the country.
FG moves to capture 80% of Nigerians in formal financial services sector, Massive depreciation of the Naira as investors get jittery, Naira’s one-year currency forward falls to N515

Naira falls to N515 in forward market

Nigeria's one-year currency forward posted its biggest drop in more than a decade yesterday as the ASI Index fell to an eight-year low.
CBN, Bankers committee back N3.5 trillion stimulus package for Nigeria

CBN, Bankers committee back N3.5 trillion stimulus package for Nigeria

The Central Bank of Nigeria and the bankers' committee have agreed to back a N3.5 trillion stimulus package for the Nigerian economy.
Cashless Policy, This is when CBN will cut Monetary Policy Rate – Emefiele, Nigeria’s External Reserves depleted by $2.9 billion, hit 10 months low , CBN to fight piracy in Creative Industry , CBN projects macroeconomy confidence to rise by 118.3% in November, Emefiele addresses stable naira, CBN, FIRS, others under investigation over fraudulent forex dealings

Official: CBN says N360/$1 not devaluation but “adjustment of price”

Governor, Godwin Emefiele clarifies the supposed devaluation of Naira. Says it is an adjustment of price and not a devaluation of the currency.
CBN website states oil price is still $61, Naira under pressure as Nigeria records poor export earnings

DEVALUATION: CBN updates website to official rate of N360/$1

The central bank of Nigeria has devalued its official exchange rate from N307/$1 to N360/$1.
CBN, MPC, Credit risk, LDR, Central Bank of Nigeria, Devaluation

UPDATED: Devaluation is here as CBN sells dollars at N380/USD

The Central Bank of Nigeria (CBN) has reportedly devalued the Naira. Nairametrics found from a reliable source that the CBN moved the rate of foreign exchange to Foreign Portfolio Investors (FPIs) from N366.70 to N380.20/USD.
Treasury Bill Investment: Ghana Vs Nigeria, Further rate decline expected as N405 billion worth of treasury bills mature , CBN’s N225.45 billion T-bills auction records oversubscription, as rate fall below 5% 

Nigerian Treasury Bills real interest rate falls to -12%

The latest data from the Central Bank of Nigeria revealed that the Nigeria’s 364-day treasury bills have fallen to 4.6%
CBN-Governor-Emefiele, Investors’ and Exporters’ forex window aided Naira stability – Emefiele , Financial Inclusion: CBN licensed 15 mobile money operators – Emefiele , Rates continue to decline as banks struggle to meet CBN’s 65% minimum LDR, CBN releases new guidelines, to fine banks N2 million over customers’ complaint , CBN: FG fell short of monthly allocated collected revenue by N388 billion, CBN issues new rule for use of PoS, merchants to face sanction after deadline, CBN may devalue naira in 2020 as experts highlight red flags in the economy, CBN appoints and redeploys directors within its ranks, Banks look to lending rates for revenue, as slash on e-transaction charges affect operations, CBN discloses currency in circulation worth N2.44 trillion, CBN to commence recycling of mutilated naira notes, Agriculture: CBN's revised policy on the dairy industry, CBN condemns foreign money transfers to Nigeria, Experts outline effect of CBN’s longer term contract, Bank’s lending rates decline albeit slower than expected, CBN releases new capital base, sanctions for Microfinance Banks, CBN reveals banks’ foreign assets rise to N14.19 trillion in 2019, CBN insists on no devaluation, threatens to sanction those responsible for false speculations, CBN considers interest rate cut as trade, economy decline over Coronavirus, Defending the naira at a cost, CBN announces initial policy response to COVID-19, CBN stops oil companies from selling dollar to NNPC, here’s why, Amid Coronavirus spread, CBN directs staff to stay at home, External reserves to fall below $30 billion, more forex restrictions expected, UPDATE: Fitch downgrades Nigeria's IDR to "B", says CBN's remedial policy not enough

CBN insists on no devaluation, threatens to sanction those responsible for false speculations

The Central Bank of Nigeria (CBN) has debunked speculations making the rounds and suggesting that the naira is finally about to be devalued.
Unify exchange rates to foster economic growth – NISER , OFFICIAL: Banks charge N368 per dollar for debit card transactions

Speculators strike as exchange rate falls to N366/$1

Speculators strike as exchange rate falls to N366/$1, stocks lose another N1 trillion.
Quality of local rice improves as food prices drop across major markets Prices of major household items on the high as weather condition limits harvest, Onions, Pepper, Yam, others increase across various Lagos markets as dealers lament low sales, Traders bag imported rice in local bags, as prices of onions, Ppepper, others drop

Prices of frozen Fish, Yam, Pepper, others jump as traders lament low sales in...

The prices of major household food items witnessed significant increase within the last two weeks, resulting in low patronage for many traders in various markets.

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Disrupting Nigerian banks, Evolution of Nigerian banks in 59-years , GTB, UBA, Zenith, Access Banks’ salary advance loans, Can a company operate without a website in 2019? , Banks refund N3.09 billion to customers over claims on excess charges, fraud, others  , Bank CEOs applaud NCC’s decision to suspend USSD charges, GTBank, Zenith, Access, FBN, 10 others spend over N8 billion on CSR, Banking: Evolving trends in the bankers’ market, GTBank, Access, FBNH, Standard Chartered wrestle over women entrepreneurs , GTBank, Access Bank, Zenith, FBN, 16 others disburse CBN’s N610.4 billion to farmers , Credit to government declines, as Credit to private sector hits N25.8 trillion, Banking sector NPLs down, loans up, Non-Performing Loans in Agriculture, construction, others rose to N143.76 billion, Asset seizure: Banks begins recovery of N6.125 trillion borrowed to the oil sector, Customer Experience: GTB, FCMB, Citibank, others emerge best banks in 2019, Nigeria’s top 5 banks spent more than N40 billion on adverts in 2019, Nigerian banks face risky future over low oil prices, coronavirus, Testing the financial strength of Nigerian banks

New stress test reveals which banks are most prepared to withstand Covid-19

This article reviews the strength of Nigerian banks by checking for asset quality deterioration through reviewing their recent audited financial results.
How to Get Up To A 6-Million-Naira Loan In 24 Hours From Rosabon Financial Services

How to Get Up To A 6-Million-Naira Loan In 24 Hours From Rosabon Financial...

Is Coronavirus causing you some financial constraints? If your answer is yes, then Rosabon Financial Services is your best bet to acquire the much-needed funds at this uncertain time.
Coronavirus: Turkish Airlines flight brought patient to Nigeria - LASG, Coronavirus: Lagos, Ogun govt scale-up measures to prevent disease outbreak, COVID-19: Six Patients soon to be discharged, Lagos records another coronavirus death

Lagos records another Coronavirus death

The Lagos State Commissioner for Health, Prof. Akin Abayomi has announced another coronavirus-related death via his Twitter handle on Wednesday.
World bank loans, Over 56% of 2019 budget expenditure was released for capital projects , FG changes decision to sell stake of oil assets in JVs, Finance Bill: Nigeria exempts small businesses from Company Income Tax , Finance Bill is for the good of Nigerians – Finance Minister, Zainab Ahmed, Nigeria, five other West African countries reject ‘Eco’ as ECOWAS single currency, FG rejects calls for tax reduction, tax relief for donors to intervention funds

FG rejects calls for tax reduction, tax relief for donors to intervention funds

FG has rejected calls from some experts for reduction of taxes as part of the palliatives to reduce the adverse socio-economic effect of the coronavirus.
Office of Nigeria's Account General is reportedly engulfed in flames, Auditor-General, Accountant-General, grants, FAAC disburses N327.68 billion to States and LGAs in September, as allocation drops again,

JUST-IN: Office of Nigeria’s Account General is reportedly engulfed in flames

The Abuja office of Nigeria's Accountant General, Ahmed Idris, is currently engulfed in flames.