In the news: Stock market appreciates by N166bn
The National Bureau of Statistics on Wednesday released the Consumer Price Index, which measures inflation, with the rate dropping year-on-year by 0.24 basis points from 15.37 per cent in December to 15.13 per cent in January.
In the last two years of the implementation of the Anchor Borrowers’ Programme, a total of N55bn has been disbursed by the Central Bank of Nigeria to over 250,000 farmers under the scheme.
The Central Bank of Nigeria, in conjunction with the Mortgage Banking Association of Nigeria, the Nigeria Mortgage Refinance Company, Federal Mortgage Bank of Nigeria and the Nigeria Deposit Insurance Corporation, on Wednesday launched the uniform mortgage underwriting standards for the informal sector.
The Nigerian stock market, on Wednesday, halted a seven-day bearish trend after the Nigerian Stock Exchange market capitalization (equities) appreciated by N166bn.
The Transmission Company of Nigeria says it has increased its power evacuation capacity through the installation of two 100 Mega Volt Amps transformers in different transmission substations.
South Africa’s embattled President Jacob Zuma has resigned his office with immediate effect.
Nigeria has raised N176 billion worth of treasury bills at an auction on Wednesday, traders said. The central bank offered N6 billion of three-month paper, N30 billion of six-month bills and N140 billion of one-year notes.
The Senate has issued a one-week ultimatum to 63 government agencies who are yet to submit details of their 2018 budget proposals.
Nigeria’s external reserves rallied to a new high of $42.8 billion on Tuesday with confidence returning to the economy as the continuing intervention of the Central Bank of Nigeria (CBN) draws various exchange rates to convergence point.
Intrigues ahead of next year’s general election took a fresh twist, yesterday, with the Senate’s approval of a new sequence for the polls. The schedule released by the Independent National Electoral Commission (INEC) had fixed presidential and National Assembly elections for Saturday, February 16, 2019, while governorship and state Assembly elections come up Saturday, March 2, 2019.
Former Deputy Governor, Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has called for the creation of a N500billion Venture Capital Fund, to support entrepreneurship in Nigeria, to boost the economy.
The International Trade Promotion Center (ITPC) Lagos has stated that the trade volume between Nigeria and Indonesia hit over $2.5 billion in 2016.
Presco Plc has reiterated its commitment to sustain ongoing expansion agenda, as part of measures to generate more job opportunities, and create value for shareholders.