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Daily Business News Brief
(Source: GlobalView Capital Limited, Date: 28-Feb-2024)
Daily Business News Brief February 28th, 2024
Stock market sees major dip as MPC hikes benchmark interest rate - BusinessDay

Nigeria's equities market recorded major decline by 1.38percent or N773billion on Tuesday after the Monetary Policy Committee (MPC) at the end of its two-day bimonthly meeting raised the Monetary Policy Rate (MPR) by 400 basis points (bps) to 22.75percent.The MPC also changed the asymmetric corridor from +100/-300 to +100/-700 around the MPR, raised the Cash Reserve Requirement (CRR) from 32.50percent to 45percent while the liquidity ratio was held constant at 30percent................................................... ........................... .. . .,.. ............ ........ ..................... ... .. ...... ..  .... . ........... .......... ............. . ..... . ... ........................Read-More

Capital importation from U.S. investors down by 88% in Q4 2023 - Guardian

In sharp contrast ith prior optimistic outlooks on US-Nigeria economic relations, Nigeria observed a dramatic 88 per cent fall in its foriegn capital intake from the United States during the last quarter of2023, according to the National Bureau of tatistics (NBS). .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

Cardoso to hold investor call with foreign investors - Nairametrics

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, is slated to engage with foreign portfolio investors in a crucial meeting on Wednesday, February 28, 2024. This strategic dialogue, organised by the Nigerian Exchange Group (NGX) in partnership with the CBN and supported by financial powerhouses such as Standard Bank, Citi Bank, J.P. Morgan, and Standard Chartered, underscores a concerted effort to strengthen the ties between Nigeria's financial sector and the global investmentcommunity..... ... ........................................................................................................ ....... .. ,............... ...... ..............,................. ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

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