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Morgan Stanley bursts excitement on Nigerian bonds
Morgan Stanley has dropped its bullish call on Nigeria’s bonds, just as investors were cheering the newly elected president’s overhaul of Africa’s biggest economy, according to Bloomberg. In a note titled “No Longer Pumped,” strategist Neville Mandimika said the bonds…
Goldman Sachs banker accidentally sends sex tape to female colleague
[Agency report] A Goldman Sachs banker left the Wall Street giant after a working-from-home blunder saw him accidentally send a sex tape to a junior female colleague, according to reports. Adam Dell, who has a child with Salmon Rushdie’s ex-wife…
Wabote sells funding, partnership strategy to NDDC
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has advised the Niger Delta Development Commission (NDDC) to enthrone internal management system that would dismantle impediments to private sector funding. Executive Secretary, Engr Simbi Wabote, declared at the NDDC…
Credit Suisse to write down $17 bn debt
Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, Reuters reported. FINMA, the…
Business in Lagos take risk measures against election violence
Following threats of violence on non indigenes in some areas of Lagos Island over their preferred candidates in tomorrow’s polls, businesses in the areas have started taking precautions to prevent attacks from people believed to be behind the viral voice…
APC govs hamstring Emefiele, S. Court removes Naira swap deadline
Sopuruchi Onwuka The Supreme Court has temporarily suspended the imminent deadline for the phase out of old Naira notes from circulation, pulling crucial support from the efforts of the Central Bank of Nigeria (CBN) to rein in over N4.0 trillion…
Nigeria bonds further plummet as S&P Global begins review
Sopuruchi Onwuka As another credit rating agency focuses on Nigeria, the country’s sovereign bonds value took a slip at the weekend as the impact of Moody’s negative rating continues to shake investors’ confidence. Market intelligence services indicated at the weekend…
Cash crunch stalls transactions, fuel breaches as banks
Sopuruchi Onwuka Glitches in the phase out of old currency notes in the Nigerian markets have led to acute cash shortages, transaction failures and worsening hunger across cities; forcing desperate customers to breach security rules as they demand access to…
Moody’s gloom rating hits Nigeria’s bonds
The downgrade of Nigeria’s economy by international rating agency, Moody’s, has started taking immediate tolls on the country’s debt instruments in the international money market as the report highlights increasing risks associated with the nation’s gloomy financial system. Moody’s Investors…
Naira redesign: FG to withdraw N2 trn from circulation
The Central Bank of Nigeria (CBN) has declared that the expected volume of cash that would return to the vaults under the ongoing dumping of old N1000, N500 and N200 notes would breach N2.0 trillion. However, experts say that withdrawal…
