The Citizen Analysis Archives - TheCitizen - It's all about you

Clamp down on portfolio investment firms: Failure of regulation?

The Citizen — Wed, 10 Feb 2021 04:33:22 +0000

Financial markets thrive on public confidence and that is why regulatory actions need to be weighed and counter checked and consequences of actions clearly understood and communicated before decisions that affect operators are taken and enforced.

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Coronavirus: Stock market loses N3.7tr in Q1

The Citizen — Mon, 30 Mar 2020 05:32:24 +0000

The value of equities in the Nigerian Stock Exchange dropped by more than N3.7 trillion from the year’s peak of over N15 trillion in mid-January 2020. Market value is also down by N1.6 trillion from the opening level of close to N13 trillion at the beginning of the year. The market closed last week with […]

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MTN Nigeria squeezes cost to build profit – TheCitizen

The Citizen — Mon, 23 Mar 2020 05:05:17 +0000

MTN Nigeria Communications Plc ran its operations on the cost saving fast track for the second year in 2019, as management worked frantically to recover from the plunge into N80 billion loss in 2015. Management’s recovery ...

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Zenith Bank records persistent revenue weakness, slow profits – TheCitizen

The Citizen — Thu, 19 Mar 2020 04:51:07 +0000

Revenue weakness of Zenith Bank Plc that showed up in 2018 failed to heal in 2019. Gross earnings had fallen by 17 percent in 2018 and managed to creep up by 5 percent to N662 billion in 2019. That remains 11 percent down ...

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2020 economy emits bad signals for banks – TheCitizen

The Citizen — Mon, 16 Mar 2020 04:14:00 +0000

Developments in the economy are transmitting bad signals to the banking sector. The connection between crude oil price and bank earnings is big and the link has already begun to trigger another wave of credit losses in banks...

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Rising debts, the biggest threat to 2020 budget – TheCitizen

meira — Thu, 12 Mar 2020 06:30:09 +0000

By The Editor The biggest threat to the 2020 federal government budget is rising debt with debt servicing expected to consume 29 percent of revenue. Huge borrowing costs, big enough to jolt the economy, are staring Nigeria in the face in 2020. That was even before the coronavirus-induced oil price drop exposed the fibrous foundation […]

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Okonjo-Iweala: Nigeria’s loss, South Africa’s gain – TheCitizen

The Citizen — Mon, 09 Mar 2020 05:16:52 +0000

By The Editor Dr. Ngozi Okonjo-Iweala’s impressive credentials in economic management have been aptly recognised by the Cyril Ramaphosa-led government of South Africa. Nigeria’s loss of the Harvard- and M.I.T.-trained development economist at the end of the Goodluck Jonathan-administration has become South Africa’s gain. The international development expert and two-time Nigeria’s finance minister now resumes […]

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Dangote trucks and deaths on our roads – TheCitizen

The Citizen — Thu, 05 Mar 2020 04:56:30 +0000

By The Editor The chronicle of accidents and resulting deaths and destructions across the nation involving trucks belonging to Dangote Group of Companies have brought to the fore issues of safety rules and standards for road users. Over time, Dangote Group truck drivers have faced public wrath for alleged recklessness on public roads. Two of […]

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FBN Holdings leads pack in recovering loans, rebuilding profit – TheCitizen

The Citizen — Tue, 03 Mar 2020 03:29:32 +0000

The management of FBN Holding Plc made the biggest cut down in credit loss expenses in three years in 2019 and sustained profit recovery for the third year running in the year. Dr. Adesola Adeduntan, who heads the principal subsidiary of the group, steered the course of the enhanced cost-income balance that enabled a marked […]

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Markets on the run: Nigerian equities melt on global uncertainty – TheCitizen

The Citizen — Mon, 02 Mar 2020 05:47:51 +0000

Nigeria’s equities market last week saw the biggest share price fall never witnessed since the global financial crisis in 2008. The market here joined global stock markets in pricing towards what looks very much ...

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Nigeria’s inflation has no monetary cure – TheCitizen

The Citizen — Thu, 27 Feb 2020 04:57:15 +0000

There is no headroom for further monetary policy treatment of Nigeria’s rising inflation, the Central Bank of Nigeria’s Monetary Policy Committee [MPC] declared at its last meeting in January 2020. In the same month, inflation climbed ...

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What to expect from UBA – TheCitizen

The Citizen — Tue, 25 Feb 2020 03:39:44 +0000

By The Editor United Bank for Africa Plc [UBA] is expected to post one of the most improved corporate results for the 2019 operations. The highest profit advancement since 2013 is to be expected from the bank’s operations last year, the result of which is expected to reach the investing public in weeks. This will […]

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GTBank adopts aggressive cost-cutting to cover revenue weakness

The Citizen — Mon, 17 Feb 2020 03:58:02 +0000

Guaranty Trust Bank is in the forefront of aggressive cost cutting drive of banks unable to grow revenue. Cost cutting has been the bank’s profit growth strategy since 2017 – when it lifted net profit a clear 27 percent from flat growth ...

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Economy: Self-survival instinct keeps Nigeria from failed state – TheCitizen

The Citizen — Thu, 13 Feb 2020 03:30:59 +0000

Nigeria has unwittingly drifted to the region of a failed state but it hasn’t failed. Prof Andrew Nevin, Chief Economist at PricewaterhouseCoopers, has an explanation for this. The reason why Nigeria has not failed as a state is the ...

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Joblessness to trigger next economic recession – TheCitizen

The Citizen — Mon, 10 Feb 2020 04:43:06 +0000

The fears earlier expressed by the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, that Nigeria risks relapsing into another economic recession are not yet over. He gave the hint that this time it wiuld be unemployment ...

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CBN: How to run Nigeria’s economy by luck and chance – TheCitizen

The Citizen — Thu, 06 Feb 2020 05:51:15 +0000

Five years from the economic decline in 2016, the fiscal stimulus that the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, said was desperately needed “to spend the economy out of recession” has not happened ...

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VAT increase: It’s a zero sum game – TheCitizen

The Citizen — Mon, 03 Feb 2020 03:40:28 +0000

In the fiscal policy-making circles, increasing Value Added Tax [VAT] is considered the most effective instrument for narrowing fiscal gap and the least in terms of political sensitivity. Revenue challenges have got to the point ...

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