Money Market

FMDQ Approves Wema Bank N50bn Commercial Paper

By Nse Anthony-Uko (Sundiata Finance) — FMDQ OTC Securities Exchange (FMDQ) said it has approved the registration of Wema Bank Plc N50 billion commercial paper (CP) programme to its platform. The Exchange in a release to media, said this CP Programme registration strategically positions Wema Bank to easily and quickly raise short-term finance from the debt market at a time ...

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Nigeria N100bn Sukuk Finally Debut September 18

As FG Launches Pre-offer Roadshow By Nse Anthony-Uko (Sundiata Finance) – Nigeria will finally make its N100 billion Sukuk bond debut on September 18, 2017, to enable it raise money for infrastructure funding, Debt Management Office (DMO) officials confirmed on Wednesday. The debut Sovereign Sukuk is for N100 billion with a tenor of seven years, and has been certified as ...

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Plans N135bn Bond Auction By Nse Anthony-Uko (Sundiata Post) — The Debt Management Office has over the past five months raised N5.15 billion through the Federal Government of Nigeria Savings Bond which it launched in March this year, even as it sets out to raise N135 billion through the FGN Bonds this month. In an offer circular on Tuesday, the ...

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FG Offers Savings Bonds At 13.535%, 14.535% Returns

Opens for subscription Monday By Nse Anthony-Uko (Sundiata Finance) – The Federal Government has opened  for subscription the two-year and three-year Savings Bonds to investors at 13.535 per cent and 14.535 per cent, respectively from Monday, August 7 to Friday, August 11, 2017. Debt Management Office (DMO), in a statement from the said the two-year bond will be due in ...

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Naira Gains, Exchanges At N365/$1

By Nse Anthony-Uko (Sundiata Finance) – The Naira, on Wednesday gained a point to close at $1/N365 against $1/N366 traded at the parallel market on Tuesday, The Naira at the parallel market on Wednesday depreciated further to N468 against N467 sold on Tuesday per Pound and Euro at N412 against N410 in last two weeks. At the official foreign exchange ...

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FG Offers New Savings Bond With 13.386, 14.386% Interest

By Nse Anthony-Uko (Sundiata Finance) – The Debt Management Office (DMO), said subscribers will get an interest rate of 13.386 per cent on the two-year savings bond and 14.386 per cent on the three-year savings bonds which opened on Monday on Monday The circular which was released on the office’s official website showed that the two-year bond will be due on ...

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Heirs Holdings Gets $100m Facility From Afreximbank

As Elumelu Lauds Afreximbank , Urges Other DFIs to Support African Businesses By Nse Anthony-Uko, ABUJA, (Sundiata Finance) — Heirs Holdings and African Export-Import Bank (AFREXIM) have signed agreement for a US$100million facility to further support Heirs Holdings’ cross border investment programme. Chairman of Heirs Holdings and the Tony Elumelu Foundation, Mr Tony Elumelu, said the agreement which is an ...

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Nigeria’s Maiden Sovereign Sukuk Debuts Next Week – DMO

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — The Debt Management Office, DMO, on Wednesday, confirmed that arrangement has been concluded for the issuance of the first sovereign sukuk, otherwise known as Islamic Bond or non-interest bond, next week. The sovereign sukuk valued at N100 billion followed a successful issuance of first Diaspora Bond by the DMO in the United States ...

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Non-performing Loans: CBN To Licence Private Asset Management Companies

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – The Central Bank of Nigeria (CBN) has unveiled to members of the public, a draft document for licencing of Private Asset Management Companies (PAMCs) that are expected to play complementary roles in the management of non-performing loans in the country. The CBN, in the exposure draft for the licencing and regulation of PAMCs ...

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Naira Closes At $1/N369 As Analysts Advocate Domestic Production

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — The Naira, on Tuesday traded at $1/N369 at parallel market for the second trading day this week despite CBN injection of $195 million. The naira, at the official market closed at $1/N305.80, representing a slight drop compare to N305.75 exchanged  last week. Against other currencies, Pound and Euro, the Naira sold at £1/N465 ...

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