BusinessDay 24 Sep 2020

Page 1

businessday market monitor FMDQ Close Benchmark NTB* & CP*

Bitcoin

NSE Biggest Gainer SEPLAT N385.00

3.90pc

Everdon Bureau De Change

Foreign Reserve $35.8bn

Biggest Loser ETERNA N2.68

25,783.02

-6.72pc

Cross Rates GBP-$:1.29 YUANY - 56.90 Commodities Cocoa

Gold

US$2,590.00 $1,871.25

news you can trust I ** THURSDAY 24 september 2020 I vol. 19, no 657

Crude Oil $41.68

I

N300

FINANCIAL REPRESSION SERIES

Market

₦ 4,924,635.80 -1.87

Foreign Exchange

Buy

Sell

I&E FX Window CBN Official Rate as at September 22, 2020

ntb

www.

MTN Nigeria plc CP

FGN

Dangote Cement plc

Axxela Nsp-spv Funding 1 (Natural Gas) PowerCorp plc plc

Spot ($/N) 25-Feb-21 5-Mar-21 23-Jul-30 30-Apr-25 20-May-27 27-Feb-34 386.00 379.00

$-N 450.00 465.00 1m £-N 580.00 600.00 Currency Futures 389.54 €-N 515.00 545.00 ($/N)

g

Benchmark Sovereign & Corporate Bonds

0.00

0.00

0.00

-0.07

0.00

-0.12

1.71

4.63

9.00

7.77

8.70

11.08

2m

3m

6m

12m

36m

60m

498.32

590.10

392.38

395.23

403.75

420.81

*NTB - Nigerian Treasury Bills; *CP - Commercial Paper

@

g

g

More funding options open for 41.5m SMEs amid COVID-19 scourge

Low yields dampen investment returns of Nigeria’s insurers M T Odinaka Anudu

BALA AUGIE

he sharp decline in yields on risk-free treasury instruments is dampening the investment returns of Nigeria’s insurers who are already struggling with the negative impact of the coronavirus pandemic. Insurers around the world tend to pack policyholders money in investment securities when

Continues on page 31

L-R: Douye Diri, Bayelsa State governor; Godwin Obaseki, Edo State governor, and Philip Shaibu,his deputy, during a courtesy visit to Government House,Yenagoa, yesterday.

ore opportunities to access credit have opened for Nigeria’s hard-hit micro, small and medium enterprises Continues on page 31

Inside

Dangote Cement pays over N1trn dividends in seven years P. 30

Tony Elumelu Named in “TIME 100” List of 100 Most Influential in the World 2020 P. A2


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BusinessDay 24 Sep 2020 by BusinessDay - Issuu