27
Jul
July 27, 2022
| Bakers end strike, hike bread price again – Punch |
| The Premium Breadmakers Association of Nigeria says it has suspended its four-day warning strike which began on Thursday. Speaking in an exclusive interview with The PUNCH on Tuesday, the PBAN President, Emmanuel Onuorah, said his members had resolved to increase prices of bread in order to cushion the impact of the harsh operating environment….Read More |
FX crisis: Made-in-Nigeria products fall 27% to N7.4tn – Punch |
| The monetary value of goods produced by Nigerian manufacturers has nosedived by 27 per cent between 2017 and 2021. According to a five-year data obtained from the Manufacturers Association of Nigeria and analysed by THE Punch, N9.43 trillion worth of goods were manufactured in 2017, but this took a downward plunge to N7.39 trillion by the end of 2021. The decline is deemed significant considering a 19 per cent naira devaluation over the period and the Nigerian government’s pledge to bolster the sector to diversify the flagging economy…...Read More |
12 Banks’ Net Interest Margin Shrink on Cost of Funds, Assets Yields – Thisday |
| Zenith Bank Plc among other Tier-1 and Tier-2 banks have witnessed decline Net Interest Margin (NIM) due to the combined effect of decline in assets yields and increase in cost of funds in the banking sector. Out of 12 banks observed by THISDAY, 10 Deposit Money Banks (DMBs) reported decline in NIM in 2021 financial year…..Read More |
Exporters, Investors Total FX Trade Up 17.6% to N30trn as Coys Quote N503.68bn CPs in H1 – Thisday |
| Amid expansion in business activities, data released by the FMDQ Exchange has revealed that total Exporters and Investors Foreign Exchange (I & E FX) transactions rose by 17.6 per cent to N30 trillion in the first half (H1) of 2022 compared to N25.52 trillion reported in the first half of 2021. The Central Bank of Nigeria (CBN) in 2017 introduced the I&E FX window to further deepen the foreign exchange market and in 2021, it adopted the specialized window for exporters and investors as the official market rate….Read More |
FX crisis: Made-in-Nigeria products fall 27% to N7.4tn – Punch |
| The monetary value of goods produced by Nigerian manufacturers has nosedived by 27 per cent between 2017 and 2021. According to a five-year data obtained from the Manufacturers Association of Nigeria and analysed by THE Punch, N9.43 trillion worth of goods were manufactured in 2017, but this took a downward plunge to N7.39 trillion by the end of 2021. The decline is deemed significant considering a 19 per cent naira devaluation over the period and the Nigerian government’s pledge to bolster the sector to diversify the flagging economy.…..Read More |
ETI Announces N108.96bn PBT in H1 2022 – Daily Independent |
| Ecobank Transnational Incorporated (ETI) yesterday announced half year (H1) unaudited financial statement for the period ended June 30, 2022 with 28 per cent increase in profit before tax to N108.96billion from N85.32billion reported in corresponding H1 2021 results. The pan-African bank on the Nigerian Exchange Limited (NGX) also reported 24 per cent increase in profit to N77.31billion in H1 2022 as against N62.55billion reported in prior H1 2021..…..Read More |