Why You Should Consider Investing in Eurobond Funds

By Adedapo Adesanya The confirmation of the new Central Bank of Nigeria (CBN), Mr Yemi Cardoso, and four deputies, generated mixed reactions in the foreign exchange (forex) market on Tuesday. Business Post reports that while it did magic in the Investors and Exporters (I&E) window, it could not replicate this in the Peer-to-Peer (P2P) and the black market segments. After his confirmation on Tuesday, the new CBN governor said the immediate plan to stabilise the Naira would be for the apex bank to settle some financial obligations and make “transparent rules”. “Number one is what I will term an operational

By Adedapo Adesanya Oil prices moderated in choppy trade on Monday as Russia relaxed its fuel ban amid a widening demand worry. Brent crude futures lost 2 cents during the session to trade at $93.29 per barrel, and the US West Texas Intermediate (WTI) crude depreciated by 35 cents to close at $89.68 per barrel. Last week, prices were down after a hawkish Federal Reserve rattled global financial markets and raised concerns that interest rates could stay higher for longer affecting oil demand. This snapped a three-week rally of more than 10 per cent after Saudi Arabia and Russia constrained

By Adedapo Adesanya The International Monetary Fund (IMF) has reaffirmed its support for the removal of fuel subsidy and the exchange rate unification of the administration of President Bola Tinubu, insisting that the policies are good for Nigeria’s economy. A representative of the global lender, Mr Ari Aisen, while featuring on Channels TV on Tuesday, maintained that the two policies must remain for Nigeria to reach macroeconomic stability. “After the position that needs to be well managed to avoid potential reversal, policies of subsidizing fuel, and controlling exchange rate will lead to a much better outlook for the Nigerian economy,”

By Adedapo Adesanya Foreign trading and investment firm, Risevest, has acquired Chaka, a digital trading platform. According to Techcabal, which first broke the news, the deal, which was for an undisclosed sum, will see both entities operate as different products, though the capitalisation table of the acquiree will be updated in due course. Speaking on this, Mr Tosin Osinbodu, Chaka’s founder, said, “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team.” “With booming growth in many nations around the world, investors can now own a stake in the growth of other

By Adedapo Adesanya The Abuja Chamber of Commerce and Industry (ACCI) and the Continental Project Affairs Associates Ltd (CPAA) have signed a Memorandum of Understanding (MOU) on Digital Economy Policy on Thursday in Abuja. This was disclosed in a press statement signed by the Media Officer of ACCI, Mr Olayemi John-Mensah, who noted that the partnership was built on deepening private sector participation in the making of digital economy policies and programmes to benefit maximally from the booming sector. Speaking at the occasion, President of ACCI, Mr Al-Mujtaba Abubakar said governmental drive within the ICT sector is “a recognition of

By Adedapo Adesanya It was the bears who appeared at the close of trading on Monday on the floor of the NASD Over-the-Counter (OTC) Securities Exchange. The appearance of the bears brought about a 0.50 per cent slip to the market, depleting the NASD unlisted securities index (NSI) by 3.7 points to close at 732.29 points as against 735.99 points it closed the previous trading day. In the same trend, the bourse’s market capitalisation closed at N544.31 billion, as investors counted a loss amounting to N2.75 billion. At the previous session, the value stood at N547.06 billion. The day’s loss was

By Modupe Gbadeyanka Airtel Nigeria has been applauded by the federal government for supporting the economy of Nigeria through the payment of taxes, which are used for the development of the nation. At the second stakeholder engagement forum organised by the Federal Inland Service (FIRS) held at the Banquet Hall, State House Presidential Villa, Abuja, the leading telecommunications services provider was named amongst the top three most compliant taxpayers in Nigeria. According to the tax agency, Airtel Nigeria, the subsidiary of Airtel Africa Plc, has been remitting various taxes to the government. The company was urged not to rest on

By Modupe Gbadeyanka The Naira has recorded a marginal gain of N5 at the parallel market barely 24 hours after the Central Bank of Nigeria (CBN) issued a circular threatening to suspend any erring authorised foreign exchange dealer not complying with its new forex policy. The apex bank on Sunday gave banks 48 hours to honour forex demands from their customers who needed to pay medical bill and school fees. The CBN had also ordered banks in the circular “to process and meet the demand for Travel Allowances (PTA/BTA) by end-users within 24 hours of such application, as long as

By FSDH Research If an individual, business, government or, by extension, a country wants to increase its spending and savings power, there must be a plan to increase the ability to generate income. Any entity that desires to increase its spending and savings without a plan to increase its ability to generate income will surely have to borrow to fill the gap, all things being equal. And you know that a borrower can easily become a slave to a lender if he is not able to meet his obligations to the lender. FSDH Research looks at the total income that

By Modupe Gbadeyanka The International Monetary Fund (IMF) has disclosed that the Egyptian economy “is gathering strength” after the country’s authorities embarked on an ambitious reform program and also taking “decisive measures aimed at restoring macroeconomic stability and sustainable public finances.” In a statement issued on Tuesday, September 26, 2017, the IMF said the North African nation has so far been able to have a flexible exchange rate regime as well as reduced its budget deficit. In addition, the global financial firm said Egyptian authorities have been able to also come up with energy subsidy reform, include women and youth

By Ahmed Rahma A Chinese biopharmaceutical company, Sinovac Biotech Ltd, which developed the controversial COVID-19 vaccine, CoronaVac, has defended the efficacy of the drug after confusing data. The producer of the jab, which has been purchased by not less than 17 countries, said the vaccine was more effective in preventing the disease if the two-dose regime is administered over a longer period of time. The CoronaVac has been rolled out in Indonesia, Brazil and others despite inconsistent data readouts. In a written response to Bloomberg, Sinovac said nearly 1,400 of 13,000 people who took part in clinical trials of CoronaVac

By Dipo Olowookere Leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, Caverton Offshore Support Group (COSG) Plc, has said it intends to deliver good yields to its shareholders in the present financial year. In order to achieve this goal, the company wants to continue to provide the quality of service its clients have become accustomed to over the years. Chief Executive Officer of Caverton, Mr Bode Makanjuola, expressed confidence that the company, which offered chartered chopper to Vice President Yemi Osinbajo during the campaign for the 2019 general elections, would