Following the meeting of the Monetary Policy Committee (MPC) of the CBN on September 22, 2020 and the consequent reduction in benchmark interest rate, we take an in-depth look at the decision and its implications for the economy. The MPC unexpectedly cut the benchmark interest rate by 100bps to 11.50%, the lowest rate since 2016. […]
Surprise Cut in MPR – Implications on the Economy Read More »
Just like the evolution of society, investments and the financial sector at large, have undergone changes and development over many years. The history of modern day investing – the dedication of funds to achieve returns – dates back to the 16th century with the establishment of the Amsterdam Stock Exchange in 1602. What started as
Traditional Investments Vs Alternative Investments Read More »
If I had a dollar for every time I heard somebody lament about the weakness of the naira within the past 4 years, I might be tussling with some Forbes billionaires right now. Earlier in the month, while scrolling through my social media feed, I came across a joke, saying “Na wa for this naira
Navigating An Unstable FX Environment Read More »
Recently, the Central Bank of Nigeria (CBN) ordered Deposit Money Banks (DMBs) to pay 10% of its Monetary Policy Rate (MPR) as the new minimum interest rate on savings deposit in the country. This represents a downward revision from 30% of MPR. Consequently, with MPR currently at 12.50%, the minimum interest accruable on a savings
CBN’s rate cut on Savings Account: What does this mean? Read More »
Introduction Recently, President Muhammadu Buhari signed into law the amended Companies and Allied Matters Act (CAMA), effectively replacing the existing Companies and Allied Matters Act, 1990. This represents the most significant business legislation in 30 years with the introduction of new developments, geared towards promoting ease of doing business. We view this as a positive
CAMA 2020 – A Progressive Step Read More »
What are remittances? Remittances are usually regarded as financial or in-kind transfers made by migrants to friends and relatives back in communities of origin. “When migrants send home part of their earnings in the form of either cash or goods to support their families, these transfers are known as workers’ or migrant remittances.” – IMF
Remittances – The Silver Lining in Dark Clouds Read More »
For a lot of people, the new year comes with goals they hope to achieve. It could be the cost of a higher education, buying a car or a piece of land. It could also be financing a business or going on vacation. But many people don’t earn enough and quickly become cash strapped after
Achieving Your 2020 Financial Goals Read More »
