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Nigeria’s inflation lowers, still regional highest

The National Bureau of Statistics (NBS) has released July inflation numbers on Friday, showing a decline by 0.14% to 11.08%. Nigeria remains the country with the 8th highest inflation in the African continent. In the region, average inflation in 2019 is projected to be 8.4%. Nigeria’s inflation has consistently been above the regional average in the…

Oil market on edge over US-China trade war uncertainty

Oil prices rose slightly on Monday after a Houthi drone attack on a Saudi oil field led to concerns about geopolitical unrest. That trend reversed on Tuesday however after Secretary of State Mike Pompeo issued harsh comments about Huawei and the threat of China. Oil CEOs sell their own stock. An analysis from Raymond James…

Ghana set to host AfCTA

 The Ministry of Trade and Industry and the Ministry of Foreign Affairs and Regional Integration and, in partnership with the Economic Commission for Africa and the African Union Commission (AUC), are organising a High-Level Conference on AfCFTA from 19-21 August 2019, at the Accra International Conference Centre, Accra, Ghana focsuing on Harnessing the benefits of…

Nigerian Stock Market ends positive

Equities market closed on a positive note, as NSEASI appreciated by +0.71% to close at 27,115.89 points as against -0.47% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.73%. Market breadth Market breadth closed positive as COURTVILLE led 20  Gainers as against 13 Losers topped by CADBURY at the end of today’s session- an improved performance when compared with previous outlook.  Market Turnover           …

Ogun collaborate with World Bank on $350m project

The Ogun State Community And Social Development Agency (CSDP), in collaboration with World Bank has trained 72 Local Government Review Committee (LGRC) across the six Local Government in the state to monitor $350m project that would enhance socio-economic activities of the in the hinterlands. The General Manager of the Project, Engr. Sakirudeen Ayinde Salaam stated…

US oil data brightens oil market

Oil rebounded in early trading on Friday after data showed that retail sales in the U.S. remain strong, but fears of a global slowdown have not been fully allayed. “The rebound has a corrective look about it on thin volumes, rather than a beachhead for an impending rebound,” Jeffrey Halley, senior market analyst at OANDA,…

CBN to disburse lower currencies to microfinance banks

The Central Bank of Nigeria (CBN) has released guidelines for the disbursement of lower denominations of the naira through microfinance banks (MFBs) across the country. A circular issued by the Director, Currency Operations Department of the Bank, Mrs. Patricia Eleje in Abuja on Thursday, August 15, 2019, indicated that all microfinance banks must have a…

Equities market closes negative

Equities market closed on a negative note, as NSEASI depreciated by -0.07% to close at 27,052.93 points as against -0.82% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.93%. Market Breadth Market breadth closed negative as CCNN led 9 Gainers as against 23 Losers topped by ETI at the end of today’s session-…

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