2020: A year of extraordinary uncertainty & unprecedented events

2020: A year of extraordinary uncertainty & unprecedented events By FXTM Analyst, Lukman Otunuga It only felt like yesterday that the United States and China reached a ‘phase one’ trade deal and Parliament backed Boris Johnson’s plan to leave the European Union on 31st January 2020. Such encouraging developments lifted investor confidence and raised optimism over the outlook for 2020. Unknown to all, the global economy was in store for a nasty shocker as a string of unforgettable and distressing events rocked financial markets – ultimately cementing their places in…

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A Day to Go: NGSE share prices up 47.20% YtD, as index eye 7-year high

NGSE share prices up 47.20% YtD

A Day to Go: NGSE share prices up 47.20% YtD, as index eye 7-year high Market Update for December 30 By Investdata Analysts It was mixed and volatile session yet again at the midweek as the Nigerian Stock Exchange (NSE) maintained positive sentiments with the composite All-Share index closing higher on low traded volume even as more funds entered the equity space in search of higher yields and returns. This was revealed by the institutional investors’ index trading above all the moving averages, just as MFI is reading 75.71 points…

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ABCON: COVID-19, forex volatility portend more woes for businesses except…

Diaspora Remittance Collection

ABCON: COVID-19, forex volatility portend more woes for businesses except…     Foreign exchange (forex) scarcity in Nigeria portend a more difficult operation environment for businesses of various scales in the country, Alhaji Aminu Gwadabe, the president of Association of Bureaux De Change Operators of Nigeria (ABCON) has warned. Gwadabe, who disclosed this during a chat in Lagos added that the Nigerian business environment is becoming more hostile and unbearable for local manufacturers, foreign operators and Micro, Small and Medium sized Enterprises (MSMEs) due to the escalating exchange rates, foreign…

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CBN’s forex reserves inch up to $35.4bn

External reserves rise by $930m in two weeks

CBN’s forex reserves inch up to $35.4bn   The nation’s external reserves rose to $35.4billion as at December 30 from $34.98 billion recorded as at December 24, data obtained from the Central Bank of Nigeria (CBN) shows. This means that the reserves have increased by $531.3million since December 17, when they stood at $34.8billion. It also means that after heading south for most part of the year, due to the sharp drop in the price of oil(the commodity that accounts for about 90 per cent of Nigeria’s export earnings) and…

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Equities bullish with N213bn gain as investors trade N11.5bn shares

Equities bullish with N213bn gain

Equities bullish with N213bn gain as investors trade N11.5bn shares   It was yet another day for equity investors in Nigeria to smile all the way to the bank as the domestic equities market maintained gaining streak. The All-Share Index (ASI) notched a 1.03 per cent gain to close at 39,512.39 basis points on Wednesday. This is equivalent to N213 billion profit for investors and as such, market capitalization of the equity market hit N20.66 trillion to close the session, higher than N20.447 trillion it closed the previous session. Meanwhile,…

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BREAKING: FG lifts ban on SIM card replacement

FG lifts ban on SIM card replacement

FG lifts ban on SIM card replacement   Nigerians with lost subscriber’s identity module (SIM) cards and intention to replace same can now do so provided they have their National Identity Numbers (NIN). The Association of Licensed Telecommunications Operators of Nigeria (ALTON) revealed this Wednesday in a note to Business Metrics, giving update on the ongoing SIM audit, registration and NIN integration exercise ordered by the federal government. ALTON noted the challenges experienced by customers seeking to replace or upgrade their SIM cards following the suspension of sale and activation…

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How to set a marketing goal for the New Year

How to set a marketing goal for the New Year

How to set a marketing goal for the New Year By Harlong Digitech Planning is prerequisite to achievement. When you’re working toward achieving a goal, there’s a need to develop a plan and work on it to achieve the goal. In Napoleon Hill’s words, “plan your work and work your plan”. Setting up a plan is the first step to success. It’s like a guide that directs your processes towards the end goal. Having said that, marketing goals help your business to succeed by giving measurable KPIs to evaluate team…

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