FX policy keeping foreign investors aloof from Nigerian equities, says Ambrose Omordion, Investdata’s Chief

Ambrose Omordion is one of ubiquitous experts providing deep analyses of market trends in the Nigerian capital market. He is the Chief Research Officer (CRO) of Investdata Consulting Limited, leading a team of other experts in the firm. In this interview with a select media including OMOBAYO AZEEZ of Business Metrics, the capital market guru takes a wide look around the domestic market environment to spot lurking opportunities and risk factors for investors and the economy while hinting the government and market regulators on a few tips that can help…

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IFC partners Moroccan Capital Market Authority on sustainable finance

Moroccan Capital Market Authority International Finance Corporation

IFC partners Moroccan Capital Market Authority on sustainable finance   The International Finance Corporation (IFC) has signed an agreement with the Moroccan Capital Market Authority (AMMC) that will help companies enhance their reporting on environmental, social, and governance (ESG) practices, paving the way for more green investments—a key component in Morocco’s COVID-19 recovery strategy. “A green recovery can help deliver economic growth and jobs quickly,” said Sérgio Pimenta, IFC Vice President for Africa and the Middle East. “Our partnership with AMMC will enable Moroccan businesses to enhance their environmental, social…

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Bitcoin defies U.S. rising bond yields to hit historic $51,000

Bitcoin

Bitcoin defies U.S. rising bond yields to hit historic $51,000   Despite an uptick in U.S. government bond yields, Bitcoin’s dizzying bull run is showing no signs of slowing down as the asset continues to attract more funds its inflating its value. The cryptocurrency market leader set a new lifetime high of $51,348 early Wednesday, having penetrated the psychological level of $50,000 on Tuesday for the first time, according to CoinDesk 20 data. Prices have risen by 53 per cent this month alone. The latest move higher comes on the…

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AfCFTA imperatives to ensure its success

AfCFTA to push Nigeria, other economies to $29trn

AfCFTA imperatives to ensure its success   By Gagan Gupta Much attention has been devoted to the launch of the African Continental Free Trade Area (AfCFTA) on January 1, 2021. As the CEO of the pan-African provider of industrial ecosystems, I am convinced about the gains that can be achieved by uniting a market of 1.2 billion people. I am not the only one with high expectations. For the past two years, experts have bandied about a lot of ambitious figures. I may be optimistic, but I am no less realistic.…

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FOREX: CBN defends naira with $21.18bn in 11 months

CBN defends naira with $1.47bn in one month

FOREX: CBN defends naira with $21.18bn in 11 months     In bid to meet demands and further strengthen naira, the local currency, the Central Bank of Nigeria (CBN) sold foreign exchange amounting to $21.18billion to authorised dealers between January and November last year, findings have shown. The figure is $13.40 billion less than the $34.58 billion that the regulator sold to authorised dealers in the corresponding period of the previous year. According to the November 2020 monthly economic report it released a few days ago, the CBN sold forex…

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Australian govt bent to make Google and Facebook pay for news

In retaliation, Facebook blocks Australians from sharing news

Australian govt to make Google and Facebook pay for news     Australia’s government said Google and Facebook Inc. are nearing agreements to pay domestic media companies for news, in a sign a regulatory standoff may be softening. Australian Treasurer Josh Frydenberg held talks with Facebook Chief Executive Officer Mark Zuckerberg and Google counterpart Sundar Pichai over the weekend. “We’re very close to some very significant commercial deals,” Frydenberg told the Australian Broadcasting on Monday, according to a transcript sent by his office. “We have made great progress.” Alphabet Inc-owned…

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FMDQ process N215trn deals in 2020

Parthian Partners Limited

FMDQ process N215trn deals in 2020   The estimated total turnover Fixed Income and Currencies (FIC) markets for the full year 2020 stood at N215.08 trillion, indicating a YoY decrease of 7.57 per cent (N17.61trillion) on the turnover of N232.69 trillion recorded in FY 2019 Similarly, turnover in the markets for the month ended December 31, 2020 was N19.89 trillion, representing a month on month (MoM) and year on year (YoY) increase of 35.31 per cent (N5.19 trillion) and 20.91 per cent (N3.44 trillion) respectively. Foreign exchange (FX) and money…

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Wipo Proof launches new API for businesses

Wipo proof

Wipo Proof launches new API for businesses   Wipo Proof’s Application Programming Interface (API) is now available for any entity to integrate the service directly within their own applications. Wipo Proof is an online service that rapidly produces tamper-proof evidence which you can use to prove that your digital file existed at a specific point in time. The API became available this February. Of course, in today’s hyper-connected world, economic activity is more digital and global, creating risks and vulnerabilities that didn’t exist before. Businesses and organizations must take greater…

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Glo launches new app to easy NIN registration

NIN Registration

Glo launches new app to easy NIN registration     To help Nigerians fast track registration of their National Identity Numbers (NIN), telecommunications company, Globacom, has unveiled a new app, Appointment Manager, to easy online booking of appointments. Globacom, in a statement in Lagos on Tuesday, said the app helps customers in choosing day, time and Gloworld of their choice, thus providing platform for them to register for their NIN effortlessly. According to the statement, “The Appointment Manager was unveiled to help our numerous subscribers and Nigerians in general to…

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Global mgt firm hints Nigeria on economic recovery tips

Nigeria’s gradual road to economic recovery

Global mgt firm hints Nigeria on economic recovery tips     The Boston Consulting Group (BCG), a global management consultancy firm, has proposed the promotion of financial inclusion, equitable distribution of resources, infrastructural development and formulation of requisite fiscal policies as initiatives that will drive Nigeria’s post- Covid economic recovery. The measures were highlighted in a recent BCG report titled, “How to Forge an Inclusive Post- Covid Recovery in Nigeria” authored by Tolu Oyekan, a Partner at the firm’s Lagos office. The report stated that the initiatives, which form part…

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