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Thursday, August 28 today 2014 |
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|Economy|
Nigerian-British chamber targets £20bn bilateral trade in 2020: The Nigerian-British Chamber of Commerce (NBCC) has said that the current trade between Nigeria and Britain, which grew to £8 billion from £4 billion, could reach as high as £20 billion if the governments of the two countries continue to encourage businesses and remain proactive. The President of the chamber and chairman of the council, Adeyemi Adefulu, explained that with the right policies in place, products and services should be moving daily between the two countries. Source: Businessday
Contributory pension assets rise to N4.4tn: The total pension assets under the Contributory Pension Scheme rose to N4.4tn at the end of June, with 6.12 million workers registered under the plan. Figures obtained from the National Pension Commission showed that N637.8bn and N55.8bn, or 14.4 percent and 1.2 percent of the total assets, were invested in domestic ordinary shares and foreign ordinary shares, respectively. Source: Punch |
|Banking|
Access Bank Targets 20% Loan Growth in 2014: Access Bank Plc has disclosed that it expects its loan book to grow by 20 percent in 2014, after a 17 percent rise in the first half of the year. This is expected to be driven by increased lending to its corporate and investment banking customers. Access Bank's loan book stood at N811 billion in 2013, up by 33 percent from 2012. Source: Thisday |
|Corporate|
Ford gives conditions for establishing factory in Nigeria: Ford Motor Corporation says it has not foreclosed the establishment of an automobile assembly plant in Nigeria, but insists that the conditions must be right for it to do so. One of the conditions, is for the country to have a free-trade agreement with its neighboring nations to ensure free movement and unhindered market for all locally produced vehicles and other goods within the West African region. Source: Punch |
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THE NIGERIAN STOCK EXCHANGE |
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Current |
Previous |
% Change |
All Share Index |
|
|
(0.00) |
Market Cap. (NGN'tn) |
13.57 |
13.58 |
|
Market Cap. (US$'bn) |
87.14 |
87.20 |
|
Value Traded (NGN'bn) |
3.93 |
1.91 |
105.76 |
Volume Traded (#'bn) |
387.60 |
167.13 |
131.92 |
Number of Deals (#) |
4,795 |
4,368 |
9.78 |
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Top Gainers |
% Change |
Top Losers |
|
BETAGLAS |
10.17 |
MRS |
(4.99) |
7UP |
9.70 |
FO |
(4.98) |
STERLNBANK |
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CONOIL |
(4.90) |
NASCON |
4.98 |
BOCGAS |
(4.86) |
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CBN - WDAS (US$'mn) |
|
Current |
Previous |
(%) Change |
Amount Offered |
400.00 |
350.00 |
|
Amount Demanded |
ND |
ND |
- |
Amount Sold |
|
|
14.04 |
CBN US$/NGN Rate |
155.73 |
155.73 |
- |
CBN €/NGN Rate |
205.48 |
205.64 |
0.07 |
CBN £/NGN Rate |
258.12 |
258.37 |
0.09 |
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Sovereign Debt Yields (T-Bills & Bonds) |
Tenor |
Current |
Previous |
Last 30 Days |
1M |
9.90 |
9.90 |
11.00 |
3M |
9.90 |
10.02 |
10.61 |
3Y |
11.31 |
11.29 |
13.30 |
5Y |
11.22 |
11.23 |
13.30 |
7Y |
11.36 |
11.22 |
13.32 |
10Y |
11.85 |
11.80 |
13.41 |
20Y |
12.31 |
12.31 |
13.42 |
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NIBOR (%) |
Call |
11.2500 |
11.1300 |
10.7500 |
30-Days |
|
|
11.3800 |
90-Days |
13.4100 |
14.0600 |
11.9600 |
180-Days |
14.2100 |
14.7100 |
11.9600 |
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CRUDE OIL (US$/Barrel) |
Brent Crude |
102.65 |
102.29 |
108.12 |
OPEC Basket |
99.82 |
99.09 |
104.95 |
Bonny Light |
101.00 |
101.00 |
111.40 |
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* denotes delayed data as such data not released on daily basis
ND denotes Not Disclosed |
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|Other News|
Nigeria conducts $600m transactions via mobile money in two years: The Minister of Communications Technology, Dr. Omobola Johnson has disclosed that between 2012 and now, about $600 million worth of transactions have been carried out through the mobile money platform in Nigeria. She revealed that there are over 18 mobile money operators registered in Nigeria by the Central Bank of Nigeria since the commencement of operations, with over one million subscribers and about 67,000 registered agents across the country. Source: TheGuardian |
CBO Research
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T: +234 (0) 1 730 5631
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This report has been issued and approved by CBO Capital Partners Limited (“CBO Capital”). This report is based on information from various sources that we believe are reliable; however, no, representation is made that it is accurate or complete. While reasonable care has been taken in preparing this document no responsibility or liability is accepted for errors or fact or for any opinion expressed herein. This document is for information purposes only. It does not constitute any offer or solicitation to any person to enter into any trading transaction. This report is provided solely for the information of clients of CBO Capital Ltd. who are expected to make their own investment decisions. Other persons should not rely on this document. CBO accepts no liability whatsoever for any direct onsequential loss arising from any use of this report or its contents. This report is for private circulation only. This report may not be reproduced distributed or published by any recipient for any purpose without prior express consent of CBO. |
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