Economy

Enhancing Liquidity In Non-interest Financial Institutions

(Sundiata Finance) – Non-interest (Islamic) banking has expanded rapidly over the past few decades, growing at 10-20 per cent annually. The assets have been growing faster than conventional banking assets. According to Sani Dutsinma, managing director/ CEO, Islamic Banking and Finance Institute Nigeria, sharia-compliant financial assets are estimated at roughly $2 trillion, covering bank and non-bank financial institutions. Islamic banking ...

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Retailers’ Interest In Jabi Lake Mall Rising As Macro-Economy Improves

(Sundiata Post) – Over the last two quarters of this year, there has been a significant improvement in the macro-economic situation in Nigeria and, as a result, international and local retailers’ interest in retail malls, including Jabi Lake Mall in Abuja, has been rising. Until the second quarter of 2017, the real estate sector in Nigeria, especially the retail segment, ...

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Nigeria Bond Sale Wobbles Over Low Yield Say Traders

(Sundiata Finance) – Nigeria raised N56.05 billion ($179 million) in a bond auction on Wednesday, less than half the amount on offer as domestic pension funds and insurance firms cut orders due to low yields, traders said on Thursday. The Debt Management Office (DMO) offered N135 billion worth of bonds maturing in 2021, 2027 and 2037, but investors shunned the ...

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Nigeria’s Foreign Capital Inflow Rises To $1.8bn In Q2

• FDI increased by 30% over previous quarter By Nse Anthony-Uko (Sundiata Post) – The total value of capital imported into Nigeria in the second quarter (Q2) of 2017 has been put at $1.792 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017 and a growing appetite by portfolio investors in Nigerian securities. This represented a ...

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Cutting Interest Rate Now Will Fuel Recession – Emefiele

By Nse Anthony-Uko (Sundiata Finance) – Despite the several calls from the real sector for a cut in the benchmark interest rate, the governor of the Central Bank of Nigeria, Godwin Emefiele has reiterated the decision of the apex bank to hold rates saying a cut in rates would cause the economy to sink further into recession. Speaking at 2017 ...

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Property Market Adjusts Slowly As Economy Recovers

Slowly but steadily, the Nigerian property market is adjusting towards a positive trend as the economy of the country enters recovery territory, leading to increased activity in the real estate sector generally. The economy has, since the beginning of the second quarter of this year, been picking up. There has been a relative stability in the foreign exchange market, which ...

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‘High Interest Rate, Short Tenor Loans For Responsible For Advance House Rent’

ABUJA, (Sundiata Finance) – High interest rate charged by lenders on housing loans and the short period of repaying such loans have been identified as reason for advance house rent demanded by landlords and/or property owners from prospective and even sitting tenants. Advance house rent payment is a ‘new normal’ in the Nigerian property market wherein landlords and property owners ...

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