The Managing Director of Highcap Securities Limited, Mr. David Adonri, has expressed concerns over the decision of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to maintain all monetary rates, including the Monetary Policy Rate (MPR) at 27.5%. Adonri described the move as risky, citing potential external shocks […]
Category: Money Market
Money Market
CBN Retains Benchmark Lending Rate At 27.50%
The Central Bank of Nigeria (CBN) has retained the country’s Monetary Policy Rate (MPR) at 27.50 per cent citing improvement in economic indices. The apex bank’s governor, Olayemi Cardoso announced the decision on Thursday at the 299th Monetary Policy Committee Meeting (MPC). The decision comes after […]
VFD Group Commits N5bn Into V Bank To Drive Digital Banking Growth
VFD Group Plc has injected N5bn to its subsidiary, VFD Microfinance Bank’s (V Bank) Expansion and Financial Inclusion, a move aimed at accelerating the bank’s growth and strengthening its position as a leading player in Nigeria’s digital banking space. In a written resolution sent to the Nigerian Exchange […]
Access Bank Restates Commitment to Community, Sustainability at 10th Access Bank Lagos City Marathon
Access Bank Plc has celebrated the 10th anniversary of the Access Bank Lagos City Marathon last Saturday, highlighting the platform’s ability to foster unity, promote healthy lifestyles, and showcasing African excellence on the global stage. Since its inception in 2016, the marathon has evolved into a premier event, attracting […]
Senate Seeks N10bn Fund for Capital Market Investor Education
Senate Seeks N10bn Fund for Capital Market Investor Education The Senate has proposed a N10 billion special fund for investor education in the capital market as part of the 2025 budget. According to the Senate, the initiative aims to raise awareness among Nigerians and attract more investors to the market. […]
Access Bank To Host Pioneering Africa Trade Conference In Cape Town
Access Bank Plc is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa. The conference is […]
Wema Bank To Raise Additional N200bn To Complete CBN Recapitalization Requirement
Wema Bank Plc has announced that it will be completing its capital raise through a combination of a Rights issue and Special placement exercise set to go live on April 1, 2025, with the goal of raising N200bn in fresh capital. This would mark the second and final tranche […]
Stanbic IBTC’s N148.7bn Rights Issue Launches on NGX Invest
The Nigerian Exchange’s (NGX) e-offering platform, NGX Invest, continues to revolutionize capital-raising in Nigeria with the addition of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue. Presented at the Facts Behind the Rights Issue event, the Rights Issue, which has been open since January 15 and will close on February […]
Nigeria To Rebase GDP, Inflation Data By Month-End
Nigeria’s National Bureau of Statistics (NBS) has announced plans to rebase the country’s Gross Domestic Product (GDP) and inflation data by the end of January 2025. The move is designed to capture structural changes in the economy and align economic statistics with current growth and […]
Nigeria’s Headline Inflation Rate Increases to 34.80% in December 2024
Nigeria’s headline inflation rate rose to 34.80% in December 2024, according to the latest report from the National Bureau of Statistics (NBS). This represents a slight increase of 0.20% from the 34.60% recorded in November 2024, primarily driven by heightened demand for goods and services during the festive season. The […]