The banks continued to access the CBN’s Standing Facilities window to square up their positions either by borrowing from the standing lending facility (SLF) window or depositing excess reserves at the standing deposit facility (SDF) window of the CBN at the end of each business day.
The FGN bond market was scantily traded as market participants focused on the outcome of the Bond auction floated by the DMO today. While spreads in the market adjusted closer amidst bearish sentiments, yields consequently ticked marginally higher by c.1bp on the average across the curve.
In society today, the ability (and arguably, the pressure) to construct a brand for yourself has become exponentially more accessible and popular. The concept of “the individual as a business” has become prevalent among people of all ages, backgrounds, and interests.
The African Development Bank has approved a US$50 million line of credit to Nigeria’s Fidelity Bank Plc to support small and medium sized, and women-owned enterprises in selected transformative sectors, including close to a hundred SMEs in manufacturing, health and education.
Nigeria’s Equities Market closed the month of October 2018 further in red as NSEASI dipped by -0.92% as against -5.97% loss recorded in the month of September 2018 while market YTD performance dished further in the negative territory as it stood at -15.11% at the end of the month under review.
In their recent Worldwide Spending on Cognitive and Artificial Intelligence Systems report, IDC estimated that banking investments in cognitive and AI systems in 2018 might total around $4.0 billion. Many AI vendors claim to offer software for numerous finance use cases, such as credit scoring, insurance underwriting, debt collection, fraud detection, and more recently, financial regulations, or so-called regtech.