October 18, 2016/Reuters Nigeria’s overnight interbank rate was quoted at a record high of 150 percent on Tuesday, two days after lenders placed funds with the central bank to participate in last Friday’s currency forward auction, traders said. They said few deals were done on Tuesday due to a shortage […]
Updates
Consumer Staple Companies Set To Benefit from FG’S Feeding Programme
Culled—Proshare October 17, 2016/CardinalStone Research The Federal Government announced that the school feeding programme under its social investment plans will commence this month. Kindly find below our analysis of the impact of the programme on the consumer goods sector; F.G school feeding programme expected to commence October 2016 The Vice-President […]
Banking Sector Update-Suspension of International Card services to affect E-banking revenue in Q4’16
Culled—Proshare 17/10/2016/CardinalStone Research Last week, Nigerian banks suspended their international card services following CBN’s directive that all banks (except First Bank) should sell dollar remittances from Nigerians in the diaspora only to Travelex. Given that e-banking revenues from international card transactions have provided strong support for the non-interest revenue of […]
