Culled—-Proshare August 15, 2016/FBNQuest Research Downward revision to estimates; downgrading to Underperform International Breweries’ Q1 2017 (end June) earnings came in significantly behind our estimates. As such, we have cut our earnings estimate over the 2017-18E period by 48% on average. Due to the higher interest rate environment, we increased […]
Updates
World Bank delaying return of $321m Abacha loot — Switzerland
August 14, 2016/Punch Adelani Adepegba The repatriation of the $321m looted by late Gen. Sani Abacha may not be done anytime soon as the Swiss government says the World Bank has to finalise the projects to be executed with the money by the Federal Government. The Swiss government explained that […]
Nigeria overnight rate spikes as cbank moves to lure foreign flows
August 12, 2016/Reuters Nigeria’s interbank overnight lending rate jumped to 23 percent on Friday from 10 percent its previous close, after the central bank sold treasury bills at higher yields to lure foreign investors, traders said. Commercial banks on Friday were paying for treasury bill purchases and a foreign currency […]
