CBN Begins Clearance Of $10bn Forex Backlogs Of Foreign Airlines, Others
The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and foreign airline operators.
Source: leadership.ng
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CBN reduced its cash mop up operation by 82% to N150 billion – Opinion Nigeria
However, due to the sharp decline in cash mop up by the CBN, the banking industry enjoyed a 46 per cent increase in average daily cash balance which rose to N407.13 billion in 9M’23 from N214.87 billion in 9M’22.
Source: opinionnigeria.com
Zenith, GTBank, UBA, 5 Other Banks Earn N3.9tn in Six Months Amid Forex Crisis, Naira Scarcity
According to data provided by the Nigerian Exchange Limited, Eight Nigerian banks generated about N3.9tn gross earnings in the first half of 2023.
Source: legit.ng
Equities market dips by 1.1% WoW as investors lose N400bn
THE local bourse reversed prior week’s gains as the All-Share index declined by 1.10 percent week-on-week (W-o-W) to close at 67,395.74 basis points.
Source: tribuneonlineng.com
Analysts Projects More Borrowing Cost for Government Amid Increasing Debt Stock
Analysts at Commercio Partners said the CBN may be prompted to issue more high-yield bonds to attract investors, hence increasing borrowing costs for government
Source: legit.ng