Archive for February, 2009

You can read the CBN directive to banks and authorized foreign exchange dealers here.

Prof. Soludo, the CBN Chairman was currently interviewed by the BBC on the new restrictions placed on banks in order to stabilize the Naira. Some of the highlights are that:

  • The CBN will not defend the Naira at a particular price thereby allowing the market forces to determine the rate
  • Some banks were involved in questionable currency trading practices
  • Commercial banks are allowed to purchase foreign exchange from the central bank only “for the use of customers” and may not use currency holdings for interbank transactions
  • Here are the last quarter results for Zenith, UBA and First Bank:

    Earlier in the month, CBN Governor, Prof. Soludo gave a speech on the impact of the Global Financial Crisis on Nigeria. He detailed the threats and opportunities of Nigeria and the steps so far taken to limit the negative effects on the Nigerian economy.

    You view the presentation HERE.

    Below are the weekly stock market reports from Investor Delight, Forte Asset, and FSDH. The company analyses of Flour Mills, Guiness, and Stanbic are also below:

    Here is the market report for the week ended Friday, February 13th 2009:

    Courtesy of Investor Delight, here is the market report for the week ended Friday, February 6th, 2009:

    The weekly market reports from FSDH, Investor Delight, Meristem Securities, and Forte Assets have also been combined into a single document for easier reading. Enjoy.

    [Download not found]

    Bank Interest Rates and Charges for January

    While this report is now outdated, I thought it will be useful to consider the CBN’s report for the first half of 2008 and their outlook for the 2nd half of 2008. Their outlook for H2 2008 was:

    Some useful info from UBA Capital’s Friday’s Market Report

    Here are the company results that have been released in the past 3 weeks:

    Here are the monthly reports and stock market analysis from Zenith Securities and Afrinvest.

    Meristem Securities has also prepared an analysis of the banking and insurance stocks.


    About this blog

    This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!

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