Updates

A bond Auction to Satisfy the DMO

Culled—Proshare June 23, 2017/FBNQuest Research The DMO may view Wednesday’s monthly auction of FGN bonds as a success. While it raised N99bn (US$320m) rather than its offer of N140bn, it was able to set marginal rates for all three bonds below the level of the previous month. It was operating […]

Saudi Succession Assists Reform, Adds Foreign Policy Risk

Culled—Proshare June 23, 2017/Fitch Ratings Saudi King Salman’s decision to name his son Mohammed bin Salman as crown prince has reduced uncertainty about the royal succession and reduces the risk of slippage in the country’s “Vision 2030” reform programme, Fitch Ratings says. However, the new crown prince has already made […]

Etisalat vs Banks: CBN, NCC Intervene to Save Jobs, Asset Stripping

Culled–Proshare June 23, 2017/CBN Following the deepening crisis between Etisalat and a consortium of 13 Nigerian Banks over a syndicated loan of about US$1.2 billion granted the telecom company by the banks, the Central Bank of Nigeria (CBN) on Friday, June 23, 2017 said the apex Bank and the Nigeria […]