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Punch – DMO raises N90bn for 2018 budget

Everest Amaefule, Abuja The Debt Management Office on Thursday said it had raised N90bn towards the implementation of the 2018 budget. A statement issued by the office in Abuja said it conducted the fourth monthly FGN Bond auctions for the year on Wednesday to raise funds for the implementation of the budget. Three bonds (five,…
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The Nation – Oil prices rebound to $65

Crude oil prices reached $65 yesterday after a drop in prices earlier in the year. Brent crude, which is the international benchmark of crude oil, had opened 2018 at $64.73. By January 9, it hit $68 before falling to $61.64 by February 1. Traders attributed the recent increase to a drop in the number of…
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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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BBC UK – Number of young people acting as ‘money mules’ doubles

The number of young people caught acting as “money mules” has doubled in the past four years, according to the UK’s fraud prevention service, Cifas. A mule allows their bank account to be used by others to transfer money in and out of it, and in return, keep some of the money for themselves. The…
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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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