Dollar Rallies As U.S 10-Year Auction High Yield Declines

Dollar Rallies As U.S 10-Year Auction High Yield Declines

Dollar rallies as U.S Treasury’s 10-year auction hit a high yield of 1.338% on Wednesday, down from the 1.34% high in the previous auction. The bid to cover ratio for the auction was 2.59, below the 2.65 ratios in the previous auction. Dealers represented 55.15% of the bids, with direct bidders at 11.36% and indirect bidders at 33.49%. For takedown, bidders took 12.32%, with direct bidders at 16.62% and indirect were awarded 71.05% The dollar rallied in early U.S trade on Wednesday, with risk aversion lifting the DXY to near…

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Citizens, Foreigners Scared Of Investing In Nigeria, Says NESG

Citizens, Foreigners Scared Of Investing In Nigeria, Says NESG

The Chief Executive Officer, Nigerian Economic Summit Group (NESG), Laoye Jaiyeola, has urged state governments to improve on their investments and create enabling environment for businesses to thrive as well as attract investors in the country. Jaiyeola who made the call in Abuja on Tuesday at a high-level private sector dialogue with the conference of speakers of state legislatures noted that the root of Nigeria’s economic problems was a lack of investment and an enabling environment for businesses to thrive. He said, “The solution is that what we need is…

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Bitcoin, Ether Rival Cardano To Hit Fresh Highs On Major Tech Upgrade

Bitcoin, Ether Rival Cardano To Hit Fresh Highs On Major Tech Upgrade

The price of Cardano, the third biggest cryptocurrency behind Bitcoin and Ethereum, will beat its own all-time highs by the end of the year, reaching $4 by the end of 2021. This is the bullish prediction of Nigel Green, chief executive and founder of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organizations. It comes ahead of Cardano’s long-awaited tech upgrade on Sunday, September 12. Last month, the deVere boss successfully predicted that the price of Cardano will reach all-time highs at the beginning…

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BBNaija: I Will Give Tega A Second Chance As Bome Apologises To Her Husband

BBNaija: I Will Give Tega A Second Chance As Bome Apologises To Her Husband

Ajeboh Krislawrence, the husband of Tega, a recently evicted Big Brother Naija housemate has stated that he will give his wife a second chance if she comes back and apologizes for her actions while in the Big Brother house. Big Brother Naija ‘Shine Ya Eye’ star, Tega’s husband has poured out his heart following the backlash that his wife has been receiving since she left the reality TV show. Krislawrence added that he would not abandon his wife, despite some video snippets which surfaced online suggesting she cheated on him…

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Banks Non-Performing Loans Ratio Moderates As CBN Debits Rise

Banks Non-Performing Loans Ratio Moderates As CBN Debits Rise

Nigerian banks rise above shocks faced in the economy, from the outbreak of the pandemic and regulatory-driven following incessant debits by the apex bank for failing to meet the 65% loan to deposits target, as non-performing loan moderate. In a document released on its website ahead of a rescheduled policy meeting next week, the Central Bank of Nigeria recognized that though banks posted improve credits to the real sector, the proportion of bad loans to gross loans sloped downward. Low banking sector non-performing loans ratio keeps Nigeria’s banking sector financial soundness…

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Nigerian Banks Rake In N266bn From Account Maintenance, e-Banking Fees

Nigerian Banks Rake In N266bn From Account Maintenance, e-Banking Fees

Ten Nigerian banks made N265.96bn from account maintenance and electronic banking fees in 2020. This is as shown by analyzing data from the annual reports of the 10 banks. The banks made N79.55bn from account maintenance fees and N186.41bn from electronic banking fees. The banks under review are Access Bank, First Bank, Guaranty Trust Bank, Zenith Bank, Fidelity Bank, Sterling Bank, Wema Bank, Union Bank, United Bank for Africa, and First City Monument Bank. Of the banks under review, Zenith Bank made the most from account maintenance with N21.99bn while…

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Bandits kill Police Officer, Abduct 23 In Kaduna

Bandits kill Police Officer, Abduct 23 In Kaduna

A police officer has been killed with 23 others abducted when bandits attacked Ungwan Maje and Ungwan Laka villages in the Chikun Local Government Area of Kaduna State. The bandits stormed the villages in the early hours of Wednesday and opened fire on the residents who were still sleeping at that time. Eyewitnesses told Channels Television that the gunmen first attacked Ungwan Maje where they abducted 16 persons, majorly women and children. They later proceeded to the Ungwan Laka community where they killed a mobile police officer identified as Joshua Markus. It…

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Banditry: Nigeria’s Future Under Threat – UN Warns

Banditry: Nigeria’s Future Under Threat – UN Warns

The United Nations (UN) has warned that “the collective future of Nigeria is under threat” given rising insecurity and spate of attacks by bandits on schools. The warning comes against the backdrop of recent coordinated killings and kidnappings of schoolchildren across Kaduna, Kebbi, Katsina, Niger and Zamfara states, leading to the forced closure of schools in these states. The organization lamented in the last academic year, an estimated 1.3 million children were impacted by attacks or abductions in schools in Nigeria. It urged President Muhammadu Buhari’s government to tackle the security challenges…

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Arise B.V Injects $75 million Tier 1 Capital In Ecobank

Arise B.V Injects $75 million Tier 1 Capital In Ecobank

Arise B.V has invested another $75 million tier1 investment in Ecobank Transnational Incorporated (ETI) to boost operation, the Lomé based parent company of the Ecobank Group, the Pan African lender said in a statement. According to the statement, this Basel III compliant instrument is the first AT1 instrument issued by ETI and a landmark transaction in the sub-Saharan Africa region. “The investment will optimize and improve ETI’s Tier 1 capital by US$75 million”, it added. The investment by Arise, a leading equity investor in financial institutions in Sub-Saharan Africa and one of…

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Afghanistan’s Former President, Who Fled The Day The Taliban Entered Kabul, Said He Left Because He Thought It Was The ‘Only Way To keep The Guns Silent’

Afghanistan's Former President, Who Fled The Day The Taliban Entered Kabul, Said He Left Because He Thought It Was The 'Only Way To keep The Guns Silent'

Ashraf Ghani fled Afghanistan for the UAE on August 15 as the Taliban closed in on Kabul. In a Wednesday statement, he said he thought “it was the only way to keep the guns silent.” More than 170 Afghans have died in stampedes, terror attacks, or by the Taliban since his escape. Ashraf Ghani, the former Afghan president who fled his country the day the Taliban seized the capital, said he left because he thought it would prevent bloodshed. “Leaving Kabul was the most difficult decision of my life, but…

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