March 23, 2017/FMDQ OTC The OTC FX Futures market recorded a circa 25% increase in the notional amount matured in February 2017, $266.17mm, to $354.00mm, being the 9th Naira-settled OTC FX Futures contract, NGUS MAR 22 2017, which matured and settled on Wednesday, March 22, 2017, on FMDQ OTC Securities […]
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Nigeria issues new retail savings bond to raise $7 million
March 23, 2017/Reuters Nigeria’s debt office said on Thursday it raised 2.07 billion naira ($6.6 million) from a new two-year savings bond intended for retail investors. Nigeria forecasts a budget deficit of 2.36 trillion naira in 2017, half of which it aims to fund through domestic borrowing. The Debt Management […]
Lafarge Africa Plc Q4 2016 Results: OPEX Grew by 15% YoY
Culled—Proshare March 23, 2017/FBNQuest Research Event: Lafarge Africa reports Q4 2016 results Implications: Upward revisions to consensus 2017E PBT forecasts likely Positives: PBT swung to N17.5bn, driven by sales growth of 12% y/y and a 1758bps expansion in gross margin to 38.4% Negatives: Opex grew 15% y/y This afternoon, Lafarge […]
