Latest News and Blog - from the news archive!


  • October 9, 2018

    If You Are Thinking of Selling You Must Act NOW!

    If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned about the concept of supply and demand, so we understand that the best time to sell something is when the supply of that item is low and demand for that item is high. That defines today's real estate market.

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    October 9, 2018

    2 Factors to Watch in Today's Real Estate Market Whether Buying or Selling

    When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today's real estate market, though, the top two factors to consider are what's happening with interest rates & inventory.

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    September 28 2018

    The Cost of NOT Owning Your Home

    Owning a home has great financial benefits, yet many continue to rent! Today, let's look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

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    September 28 2018

    Dreaming of a Luxury Home? Now's the Time!

    If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today's premium home market, buyers are in control. The inventory of homes for sale in the luxury market far exceeds the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.

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    May 7 2018

    CBN Injects $349.34m Into Retail SMIS

    The Central Bank of Nigeria (CBN), has injected the total sum of $349.34 million in the Retail Secondary Market Intervention Sales (SMIS) segment of the Forex market.

    Figures obtained from the CBN, weekend, showed that the interventions were meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

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    May 7 2018

    CBN auctions $559m in three days as reserves near $48 billion

    A Combined two foreign exchange (forex) market interventions by the Central Bank of Nigeria (CBN), on Wednesday, at the weekend hit $559.34million, as the monetary policymaker sustained efforts to keep the market liquid and stabilise the local currency.

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    May 7 2018

    Forex - Dollar Holds Near 4-Month High in 4th Week of Gains - INVESTING

    Investing.com - The dollar started the week off in a continuation of recent upward momentum coming off three straight weeks of gains..

    At 4:52AM ET (8:52GMT) Monday, the U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, rose 0.18% to 92.59, close to its 2018 peak of 92.75.

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    May 7 2018

    UPDATE 1-China's April FX reserves fall to 5-month low as dollar bounces - REUTERS

    BEIJING, May 7 (Reuters) - China's foreign exchange reserves in April fell more than expected, to a five-month low, as the U.S. dollar rebounded and on growing signs that Chinese regulators are less worried about capital flight.

    Reserves fell $17.97 billion in April to $3.125 trillion - the lowest since November 2017, compared with a rise of $8.34 billion in March, central bank data showed on Monday.

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    April 27 2018

    Analysts foresee single world currency in growing technology disruption - PUNCH

    Financial and technology analysts have said a single world currency is imminent given the growing technology disruption in the financial services industry typified by the popularity of blockchain adoption and its offshoots, cryptocurrencies.

    The Managing Director and Chief Executive Officer of Precise Financial Systems, Yele Okeremi, and the Lead, Digital and Robotics Practice, Ernst &Young Nigeria, and Akinsope Roberts, gave the insight on Thursday in Lagos at the maiden Business AM/GTI Finance and Investment Dialogue.

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    April 24 2018

    Nigerians living abroad sent $22bn home in 2017 - World Bank - PUNCH

    Nigerians living abroad sent home $22bn in 2017, a 16.4 per cent increase from the amount they repatriated in 2016, a World Bank report revealed on Monday.

    Payments from immigrants back to their home countries rebounded to reach the new record in 2017 but the costs of transferring funds also increased, the World Bank said on Monday.

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    April 23 2018

    CBN Boosts Retail SMIS with $396.18m - PROSHARE

    In its relentless move to guarantee liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales (SMIS) segment of the market to the tune of $396.18million.

    According to figures obtained from the CBN on Friday, April 20, 2018, the released sum is meant to meet obligations in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

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    April 23 2018

    What To Expect From The Markets This Week- 230418 - PROSHARE

    Recently, the International Monetary Fund in its April outlook on the global economy stated that earlier cyclical pressure is easing off and emerging economies are beginning to return to normalization. However, the fund was of the opinion that trade frictions and geopolitical tension is downside to global growth. Even though it pointed this out, trade trust seem to be at its lowest ebb largely to concerns of intellectual property rights and the role of subside in external trade.

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    April 9 2018

    CBN, banks plan fresh N60bn disbursement to boost economy - Sun

    The Central Bank of Nigeria (CBN) and the Deposit Money Banks (DMBs) may be fine-tuning plans to disburse N60 billion, being 5 per cent of their profit to buoy various developmental initiatives of the Federal Government.

    This was as the CBN Governor, Mr. Godwin Emefiele, at the weekend rejigged portfolios of Deputy Governors of the apex bank with Aisha Ahmad taking over the Financial System Stability (FSS) Directorate from Dr. Joseph Nnanna Okwu, who now moves to the Economic Policy Directorate. Mr. Edward Lemetek Adamu, has been assigned the portfolio of Deputy Governor, Corporate Services, while Mr. Adebayo Adelabu retains his portfolio as Deputy Governor, Operations Directorate.

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    April 9 2018

    $46.7b foreign reserves keep naira stable - The Nation

    The naira remains stable at the official and parallel markets, with the foreign exchange (forex) reserves standing at $46.7billion, a report by Exotic Capital, an investment and research firm, has said.

    The naira exchanges at 362 to the dollar in the parallel market and 305.6 in the official market. It has remained at those rates since April, last year, after the Central Bank of Nigeria (CBN) resumed forex interventions in the market.

    The report said although the level of reserves was still below the record high of $64 billion realised in August 2008, it is nearly double the $24 billion recorded in October 2016, increasing by more than $22 billion in 15 months.

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    March 14 2018

    10 Quick Steps To Achieve Financial Freedom

    1. "Decide You Want It More than You Are Afraid Of It"
    OK - that quote is from the recently discredited Bill Cosby, but it's brilliant nonetheless. And it's an important point too. One of the reasons more people don't reach financial independence is they're afraid - not of being financially independent, but of the changes in their lives they'll have to make to get there.

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    March 14 2018

    Nigerian Inflation Slows for 13th Consecutive Month in February - BLOOMBERG

    Nigeria's inflation slowed for a 13th consecutive month in February, but may still be too high for the central bank to start cutting rates from a record.

    Consumer-price growth in Africa's most populous nation decelerated to 14.3 percent from 15.1 percent in January, the Abuja-based National Bureau of Statistics said in an emailed statement. The median estimate in a Bloomberg survey was 14.6 percent. Prices rose 0.8 percent in the month.

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    March 5 2018

    Thailand to establish rice mills in Nigeria - Minister - PUNCH

    The Federal Government on Sunday announced that Thailand had commenced moves to establish rice mills in Nigeria.

    The Minister of Information and Culture, Lai Mohammed, disclosed this during a tour of some rice farms in Kebbi State.

    He said the Federation Government had won its fight against rice importation, particularly from Thailand, as Nigeria had reduced its importation of rice by over 90 per cent.

    "As we speak today, Thailand rice growers are making passionate appeal to the Federal Government. What they are doing now is that they want to set up rice mills in Nigeria, which means we have won," Mohammed stated.

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    March 5 2018

    Foreign investors inject $10.6bn in I&E in 2 months

    FOREIGN investors have injected $10.6 billion into the economy through the Investors and Exporters (I&E) window since the beginning of the year, even as they intensified demand for Nigerian Corporate Eurobonds listed on the London Stock Exchange (LSE).

    Financial Vanguard analysis of dollars traded in the Investors and Exporters (I&E) window from January 2 till last week, showed that foreign investors have supplied $10.6 billion, implying sustained investors confidence in the window, which was introduced April 21 last year. The $10.6 billion traded year-to-date (YTD) represents 38.5 percent of the $26 billion traded in the window last year.

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    February 21 2018

    Forex, others delay privatisation of $5.7bn NIPP GenCos - DAILY TRUST

    The fluctuating foreign exchange rate, gas, transmission and distribution constraints are key challenges delaying privatisation of the 10 Generation Companies (GenCos) built by the Niger Delta Power Holding Company (NDPHC), its former Managing Director, James Olotu has said.

    Olotu who disclosed this in an interview said the National Integrated Power Projects (NIPP) plants' sale was bided for $5.7 billion (about N2.057 trillion) for 80 percent shares in 2014 but the transaction was yet to be completed nearly four years after.

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    February 21 2018

    CBN amendment act passes second reading after heated debate in Senate - DAILY POST

    A bill to amend the Central Bank of Nigeria (CBN) sponsored by Senator Samuel Anyanwu representing Imo East Senatorial district scaled second reading in the Senate.

    The bill, if passed into law would mandate the Apex bank to subject its annual appropriation to the approval of the National Assembly.

    It also proposed to create a different board of the Central Bank against the current situation where the CBN governor doubles as the board Chairman.

    Sponsor of the bill, Anyanwu argued that separation of the office of the Chairman of board would pace way for effective running of the Apex financial body. He also added that there was need for separation of powers.

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