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Punch – Nigeria can make N1tn from idle assets – NIESV

Maureen Ihua-Maduenyi The government can raise over N1tn annually from the auction of idle assets, the Faculty of Auctioneering of the Nigerian Institution of Estate Surveyors and Valuers has said. The faculty said many government assets all over the country and those in the custody of law enforcement agencies could be auctioned and the revenue…
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Businessday -Things are looking up in Nigeria and Ghana

In February this year we were in Nigeria and Ghana, where the macro outlook is improving. Growth promises to be more balanced in Nigeria, where the services sector finally emerged from recession in the last quarter of 2017. We believe this signals that the consumer is at the cusp of a recovery, which is affirmed…
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Vanguard – CBN injects $210m as Naira appreciates to N360.19/$

By Adaeze Okechukwu The Naira started the week with a 51 kobo appreciation to N360.19 per dollar in the Investors’ and Exporters’ (I&E) window, even as the Central Bank of Nigeria (CBN) injected $210 million into the foreign exchange market. Naira Acting Director, Corporate Communications Department (CCD), CBN, Mr. Isaac Okorafor confirmed the injection saying:…
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Reuters – African Markets – Factors to watch on Feb. 22

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS Most Asian share markets followed S&P 500 futures lower on Thursday as speculation of faster hikes in U.S interest rates soured risk appetite globally. The dollar held…
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Vanguard – World Bank projects $22bn diaspora remittance to Nigeria in 2017

By Elizabeth Adegbesan THE World Bank has projected that up to $22 billion will flow into Nigeria in 2017 through Diaspora remittances, noting that global remittance flow is set to recover this year after two consecutive years of decline. This was contained in the latest edition of the World Bank’s Migration and Development Brief, released,…
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Guardian – Concerns for banks as WhatsApp adds payment

Whatsapp has introduced payments to its messaging app in India, making it the latest service to let users transfer money to one another with a text. After the pilot in India, this peer-to-peer payments, would be available in Nigeria and other African countries and it will have profound effect on banks already hemorrhaging from revenue…
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Guardian – UK’s listing of Naira opens up huge trade deals

The listing of the nation’s currency- Naira, under the pre-approved currencies policy of United Kingdom will facilitate more trade deals among the countries. Besides, it has been assessed as a show of the strength of bilateral relations and the efforts in easing complex negotiations associated with business for the countries. A Research Analyst at Cyprus-based…
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Reuters – African Markets – Factors to Watch on Feb. 16

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – GLOBAL MARKETS Asian shares rose for a fifth straight day on Friday as investor confidence slowly returns after a sharp sell-off earlier in the month, but the dollar continued…
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CNBC – UK inflation proves stickier than expected at start of 2018

British inflation unexpectedly held close to its highest level in nearly six years in January, highlighting the challenge the Bank of England will face as it tries to return price growth to target over the next two years. Consumer price inflation remained at an annual rate of 3.0 percent in January, unchanged from the month…
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Vanguard – CBN Injects $210m into Forex Market

As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) commenced its last meeting for 2017, the bank injected has 210 million dollars into the inter-bank Foreign Exchange Market. The CBN Acting Director, Corporate Communications, Mr Isaac Okorafor in a statement issued on Monday in Abuja, said the interventions were in the…
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