Stock Market Rebounds, Appreciates Marginally By N3.22bn – Thisday
Investors’ investment on the stock market of the Nigerian Exchange Limited (NGX) reverse prior day loss on renewed bargain hunting in Nigerian Exchange Group (NGX Group), UPDC Real Estate Investment Trust, Zenith Bank Plc, 19 among others. Specifically, the overall market capitalisation gained N3.22 billion to close at N21.825 trillion, while NGX All-Share Index (ASI) grew by 6.17 basis points or 0.01 per cent to close at 41,813.27 basis points from 41,807.10 basis points the stock market opened for trading…………….. read more
FG borrows N13.6tn via bonds in six months amid rising deficit financing – Punch
The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn, from the N11.67tn recorded in the corresponding period of last year. The Financial Markets Department of the Central Bank of Nigeria disclosed this in its half-year activity report for 2021. It attributed the rise to government’s drive to fund fiscal deficit from the domestic market. The report stated that, “In the review period, FGN bonds worth N900bn was offered, while public subscription and sale stood at N1.73tn and N1.42tn, respectively. The amount offered comprised new issues and re-openings of FGN bonds…………….read more
Six multinationals to pay N249bn oil proceeds in January – NNPC – Punch
A total of N249.3bn for October 2021 domestic crude oil sales by six multinational oil companies operating in the upstream sector will be paid in January 2022, the Nigerian National Petroleum Company Limited has said. The NNPC made this known in its latest report on Nigeria’s crude oil export and domestic crude oil sales in the month of October 2021. The report was obtained in Abuja on Thursday. This came as the oil firm revealed that it would also deduct N270.83bn from what would be shared by the three tiers of government during the Federal Accounts Allocation Committee meeting in January next year……………..read more
FG borrows N1.99tn via bonds in six months amid rising deficit financing – Daily Independent
The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn, from the N11.67tn recorded in the corresponding period of last year. The Financial Markets Department of the Central Bank of Nigeria disclosed this in its half-year activity report for 2021. It attributed the rise to government’s drive to fund fiscal deficit from the domestic market. The report stated that, “In the review period, FGN bonds worth N900bn was offered, while public subscription and sale stood at N1.73tn and N1.42tn, respectively. The amount offered comprised new issues and re-openings of FGN bonds……………read more
CBN forex policies may threaten economic growth in 2022 — Report -Thisday
The Centre for the Promotion of Private Enterprise, an economic think tank, has said the “monetary and foreign exchange policy rigidities” of the Federal Government may disrupt the economic growth of the nation in 2022. The Central Bank of Nigeria is responsible for monetary and forex policy in the country. The centre made this known in its ‘2022 Economic Outlook’ report, a copy of which was obtained by our correspondent on Thursday. According to the organisation, there is no indication that the nation will shift from its current monetary and foreign exchange policy and this may hamper economic growth in 2022.
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FG raises N1.77tn Sukuk fund for Ibadan-Ilorin, Enugu-Port Harcourt, 95 other roads – Report – Vanguard
The Federal Government earned N1.77tn from sukuk bonds over a period of four years, according to a report obtained by our correspondent. The N1.77tn sukuk was raised between 2017 and 2021, the report stated. The sukuk bonds, which are sharia-compliant bond-like instruments used in Islamic finance, were issued to finance over 97 road projects across the country. In 2017, the Federal Government raised a N100bn seven-year debut sukuk bond for the financing of 25 road projects across the six geo-political zones of the country……………….read more