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Daily Business News Brief- December 6th, 2022

7
Dec

Naira depreciation adds N9tn to foreign debt burden – Punch
The value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign debt burden.  Within the seven years under review, the naira depreciated by 52.52 per cent against the US dollar. The value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign debt burden. Within the seven years under review, the naira depreciated by 52.52 per cent against the US dollar……..……..Read More
eNaira circulation rises to N400million, as CBN insists no charges “for now” – Nairametrics
The Central Bank of Nigeria has revealed that the circulation of the e-naira has risen to N401.82 million as transaction volume rises from over N4 billion to N5 billion.  The eNaira in circulation refers to the total number of eNaira bought by Nigerians mostly by converting money from their bank accounts into the central bank digital currency………….Read More
DMO raises N130bn from Sukuk for roads – Punch
The Debt Management Office has said it raised N130bn from its N100bn Ijarah Sukuk bonds, which were issued on November 21, 2022. In a statement on its website on Monday, the DMO said that it recorded 165 per cent oversubscription on the bonds. Since it was introduced in 2017, Sukuk bonds have provided N612.56bn for the Federal Government and have helped in funding 71 roads and six bridges, measuring 1,881 kilometres across the country. The current amount raised pushed the total amount raised to N742.56bn………...Read More
Nigeria’s foreign trade declines by N1.24tn – Thisday
Nigeria’s total merchandise trade fell by N1.24tn, from N12.84tn in the second quarter of 2022 to N11.59tn in the third quarter of 2022.  This is according to the ‘Foreign Trade in Goods Statistics (Q3 2022)’ report released by the National Bureau of Statistics released on Monday.  The fall in foreign trade was influenced by the decline in crude oil exports, which fell from N5.91tn in Q2 2022 to N4.66tn in Q3 2022………..Read More
Nigeria Eurobonds rally in November as investors take advantage of higher yields- Nairametrics
Nigeria’s 5-and 10-year Eurobond prices rallied in the month of November 2022 as investors moved to rebalance their portfolios ahead of the new year whilst taking advantage of higher yields.
  The 5-year Eurobond dated November 2027 with a coupon of 6.5% closed the month of October priced at $71.39 with a yield of 14.45%. The 10-year Eurobond dated February 2032 with a coupon of 7.87% closed the month of October priced at $64.7 with a yield of 14.45%………….Read More
fake richard mille
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