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Banks’ Borrowing from CBN Rises by 315% to N24.53trn in 11 Months

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The scarcity of liquidity has forced banks and merchant banks to aggressively depend more on the Central Bank of Nigeria (CBN) for short-term liquidity needs, leading to N24.53 trillion borrowing from the apex bank between January and November 2021….





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Negotiations on textiles, automobiles stalling Nigeria’s rules of origin



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Despite the delays in the implementation of the African Continental Free Trade Area Agreement (AfCFTA), which came into force on January 1, 2021, the Federal Government has said negotiations are about to be completed with outstanding work still on textiles and automobiles…..





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Stock Market Close Lower on Profit-Taking by Investors





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The stock market of the Nigerian Exchange Limited (NGX) closed on a negative note yesterday on the back of profit-taking by investors. In summary, the NGX All-Share Index (ASI) dropped by 22.89 basis points, representing a decrease of 0.05 per cent, to close at 43,248.05 points. Similarly, the overall market capitalisation declined by N12 billion to close at N22.567 trillion…..




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Subsidy removal won’t spike inflation, says World Bank

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World Bank Country Director for Nigeria, Shubham Chaudhuri, yesterday, spoke extensively on the planned removal of subsidy on Petroleum Motor Spirit (PMS), lingering foreign exchange crisis, rising sovereign debts and other macroeconomic issues, suggesting that the removal of subsidy may not remarkably cause a spike in inflation…..





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Director mag April - June 2021
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