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A strange paradox emerges when flipping though the latest BofA Fund Managers’ Survey: with the S&P trading at all time highs, it appears that nobody trusts this market. Two specific indicators point to this. The first one is that as BofA’s Michael Harnett points out, July cash level are now at 5.8%, up from 5.7% […]Read More

While so far the Western diplomatic response to Erdogan’s unprecedented putsch has been mostly stunned silence (with just the U.N. human rights chief expressing alarm about the mass suspension or removals of judges so far), the market is starting to get concerned, and moments ago the Turkish Lira suddenly tumbled, sliding below Friday’s closing level, […]Read More

If the premise of central-banking largesse is to maintain (or inspire) economic confidence, then Mario Draghi’s smoke and mirrors have officially failed. This morning’s ZEW data on German and European Consumer confidence is a disaster. Both the current situation and expectations for Germany tumbled but most worryingly, the ‘hope’ for European economic growth has crashed […]Read More

Nigeria Breweries recently released its 2016 Half year results reporting a 17% decline in profits. The N25 billion pre-tax profits for the first half of 2016 is the lowest we have seen within the same period since 2013. It’s pre-tax profits of N10.5 billion for the second quarter of 2016 is also the lowest we […]

Africa’s largest mobile network, MTN has reported that it expects its profits to fall significantly when it reports its half year 2016 results. MTN blames this on the N350 billion regulatory fine imposed on it by the Nigerian Government. The fine they claimed will cost the company about 474 cents per share. MTN reached an […]

…Interbank interest rate hit 22%…We don’t run any business — AMCON The naira depreciated in all the segments of the foreign exchange market last week due to shortage of dollars. Meanwhile the interbank foreign exchange market will experience the maturity of $697 million one-month forwards contract sold by the CBN on Monday June 27th 2016. […]Read More

The Consumer Protection Council has commenced a nationwide grass-roots consumer awareness programme with women as part of the strategies to stem consumer abuse in Nigeria. The council announced in a statement that the wife of the President, Mrs. Aisha Buhari, would lead the campaign against the violation of the rights of consumers. Aisha, who according […]

Gen Buhari and Murtala President Muhammadu Buhari is clearly in over his head when it comes to managing the economy and people of a complex country like Nigeria. The economy is in a tailspin, and Buhari has allowed some security challenges to fester and stocked others through empty martial bluster. We should have seen this […]

In the past six months, the prices of essential food items have risen significantly in consonance with the rising level of inflation in the country, which hit an 11-year high of 16.5 per cent last month. The National Bureau of Statistics on Monday released the Consumer Price Index, which measures inflation, stating that the country’s inflation […]Read More

The Federal Government has said that it will overhaul the Nigerian Maritime Administration and Safety Agency in order to bring about effective performance in the organisation. The government also stated that the Abuja-Kaduna rail project would be officially inaugurated on July 26, 2016. The Minister of Transportation, Mr. Rotimi Amaechi, disclosed this when he received […]

The scarcity of aviation fuel, popularly called Jet-A1, did not only disrupt flight activities at airports across the country yesterday, but also affected private and government programmes in the Federal Capital Territory. It was learnt that several programmes in Abuja were either postponed or delayed as key personnel who were to anchor strategic meetings could […]

The Federal Government has commenced moves to generate electricity from nuclear materials, particularly uranium. To achieve this, it invited experts from the International Atomic Energy Agency to conduct a one-week training for nuclear practitioners as well as security officers in the country on the extraction, exploitation and utilisation of uranium. Speaking at the opening ceremony […]