Nigeria’s central bank boosts foreign exchange market with $335.43m

Businessam StaffMarch 10, 2018

The Central Bank of Nigeria (CBN) Friday boosted into the Retail Secondary Market Intervention Sales (SMIS) with the sum of $335.43 million to guarantee liquidity in the market. Figures obtained from the CBN revealed that the intervention was to meet requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors. Isaac Okorafor […]

Millennials are not adequately saving for retirement, study finds

Businessam StaffMarch 6, 2018

According to the U.S. Census, millennials accounted for more than 25 percent of the population in 2015, yet this significant segment of the workforce might not be prepared for retirement. In a new study, researchers from the University of Missouri found that only 37.2 percent of working millennials have retirement accounts, demonstrating a need for […]

Islamic Development Bank set to launch $2.5bn sukuk bond

Businessam StaffMarch 5, 2018

The Islamic Development Bank (IDB), the largest development organisation in the Muslim world, is set to launch a $2.5 billion sukuk in the near term, Bandar Hajjar, its president said on Monday. Addressing a sukuk conference at the London Stock Exchange, Hajjar said the IDB’s funding plan for first half 2018 was the largest since […]

GTBank seeks to create more value for customers, collaborates with FinTechs

Goddey OdinMarch 1, 2018

Segun Agbaje, the managing director Guaranty Trust Bank (GTBank) Plc, asserted that banks and financial technology (FinTechs) need to partner to create more value for their customers. The bank’s MD said this while speaking at the ongoing Social Media Week (SMW), at the Landmark Event Centre, Lagos. He said the meeting was also about collaboration […]

Warren Buffett advises investors on surviving stock market crash

Businessam StaffMarch 1, 2018

Warren Buffett, Chairman and CEO, Berkshire Hathaway Inc.

Warren Buffett writes an annual letter to Berkshire Hathaway shareholders, which generally has a useful investing lesson or two from the Oracle of Omaha himself. In the latest instalment, Buffett attempted to highlight the dangers of using leverage to invest, as well as the benefits of avoiding it. In short, debt can be an investor’s worst enemy, […]

How to teach your kids about money

Businessam StaffFebruary 22, 2018

Do you know how to teach your kids about money? Think back to your childhood. Who taught you how to manage money? Who taught you to write a check? Who explained what compound interest is? You may have learned to write a check in Life Skills class in school or perhaps Mom and Dad showed […]

Nigeria central bank amends agric credit scheme guidelines to include non-interest financial institutions

Businessam StaffFebruary 22, 2018

The Central bank of Nigeria (CBN) has announced amendments to guidelines on its commercial agriculture credit scheme (CACS) to include the participation of non-interest financial institutions. The regulator in a circular to all banks and financial institutions dated February 16, 2018, said the revised guidelines are part of efforts to deepen access to finance and […]

Domestic investors press for local listing of successful FG $2.5bn Eurobond

Kayode OgunwaleFebruary 19, 2018

Domestic investors have expressed satisfaction with the successful issuance of $2.5 Eurobond by the Nigeria government. Some of the investors who spoke with business a.m. said the Eurobond would give ample opportunity for local investors to make more money if it is available for trading in Nigeria trading floor. Mallam Shehu Mikail in his view […]

Nigeria sells $2.5bn euro bonds to replace debt

Agency ReportFebruary 16, 2018

By Remilekun Davies…  Nigeria sold a record $4.8 billion of Eurobonds last year, most recently in November, when it issued $3 billion of 10- and 30-year debt. Yields on the latter rose six basis points to 7.7 percent by close Thursday, the highest since they were issued. Nigeria’s local bonds have an average yield of […]