Rate cut raises hopes for cheaper business loans
For more than two years, Nigerian businesses faced a difficult combination of high operating costs and expensive credit. Manufacturers borrowed at rates that squeezed already thin margins, smaller businesses struggled to finance working capital, while investors earned unusually high returns... Read More →
NGX drops N425bn on month-end profit-taking
The Nigerian equities market closed the final trading session of September on a bearish note, as profit-taking dragged key benchmark metrics lower, eroding N425.73bn in investor wealth. At the close of transactions on Wednesday, the All-Share Index of the Nigerian... Read More →
US stocks rise after stable inflation reading
Wall Street stocks rose early Wednesday following a stable US inflation reading and data showing better hiring than expected. Government data showed the US Federal Reserve’s preferred inflation gauge stood at 3.4 per cent year-on-year in August, unchanged from the... Read More →
CBN prepares to mop up N4.69tn as liquidity rises
Liquidity in Nigeria’s banking system climbed sharply to N8.84tn ahead of the settlement of the Central Bank of Nigeria’s latest Open Market Operation bills, raising expectations of a substantial cash withdrawal from the financial system. The latest liquidity position represents... Read More →