Culled—Proshare November 21, 2016/Vetiva Research Monetary Policy Committee (MPC) meeting comes at a pivotal time. With fiscal policy in the throes of reflating the economy (N3.7 trillion or c.80% of pro-rated budget spending disbursed as at Q3), the two key policy paradigms of the Federal Government (FG) are able to […]
Money Market
FG proposes jail term for dollar hoarders
Culled—Punch Oyetunji Abioye with agency report The Federal Government has proposed an amendment to the Foreign-Exchange Act to enable the imprisonment of anyone who holds foreign currencies, especially the dollar, for more than 30 days. This is the latest measure the government and the Central Bank of Nigeria are considering […]
Fitch Revises Down Support Rating of 10 Nigerian Banks
21/11/2016/Fitch Ratings Fitch Ratings-London-18 November 2016: Fitch Ratings has revised down the Support Rating Floors (SRFs) of 10 Nigerian banks to ‘No Floor’ and downgraded nine banks’ Support Ratings (SRs) to ‘5’ following a reassessment of potential sovereign support for the banking sector. As a consequence, the Long-Term Issuer Default […]
