₦airaland Forum

Collymond:
Nigeria external reserves to hit 54 months high of $45bn

Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/



NIGERIA’s external reserves will rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week. The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday. According to the Ministry of Finance, the $2.5 billion Eurobond, which attracted buying interest of $11.5 billion, comprises a $1.25 billion 12-year series and a $1.25 billion 20-year series.

The 12-year series comes with interest at a rate of 7.143 percent, while the 20-year series will bear interest at a rate of 7.696 percent, and, in each case, will be repayable with a bullet repayment of the principal on maturity. The offering is expected to close on or about February 23, 2018, subject to the satisfaction of various customary closing conditions. Eurobonds Though the purpose of the Eurobond issuance is to refinance domestic debts, proceeds of the bond will, among other things, accelerate accretion to the nation’s external reserves. Commenting on how the Eurobond issuance will impact the domestic economy, analysts at Lagos based investment firm, Afrinvest Plc, said: “The proceeds from the Eurobond issuance would be used to refinance relatively expensive short term domestic borrowings as the FGN plans to achieve an optimal mix of domestic and foreign debt and reduce overall debt servicing cost.

The impact of the debt refinancing, coupled with declining inflation rate and stability in foreign exchange rate, is anticipated to continue to anchor yield expectation lower in the near term and reduce crowding out of private sector borrowers.” External reserves accretion Financial Vanguard analysis reveals that the external reserves have grown by $3.5 billion or 8.9 percent since the beginning of the year.

According to the CBN, the external reserves which opened the year at $39.3 billion had risen to $42.8 billion last week. The sharp increase in reserves is driven by rising crude oil price, which touched $71 per barrel last month before retreating to $62 per barrel last week, as well as upsurge in dollar inflows through the Investors and Exporters (I&E) window of the foreign exchange market. Financial Vanguard analysis showed that turnover (dollars traded) in the I&E window rose by 10 percent last week to $789.9 million from $716.57 million the previous week. Consequently dollar inflow since the beginning of the year through the I&E window rose to $8.37 billion, from $7.58 billion the previous week. Mixed naira performance However, in spite of the increased turnover, the naira depreciated marginally in the I&E window last week. According to data from the Financial Market Dealers Quote, the indicative exchange rate for the window rose by 9 kobo to N360.36 per dollar last week from N360.27 the previous week. But the naira remained stable at N363 per dollar in the parallel market during the week.

The CBN on its part sustained its weekly intervention in the foreign exchange market by selling $210 million in the interbank market. According to Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, “The CBN offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million. Customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.” Statutory allocation funds to lower cost of funds Cost of funds is expected to further trend downwards in the interbank money market this week courtesy of inflow from statutory allocation to the three tiers of government which would be released this week by the Federal Accounts Allocation Committee (FAAC). The inflow, in addition to N56.3 billion inflow from maturing treasury bills (TBs) is expected to offset impact of outflow to be occasioned by N100 billion FGN Bond offer by Debt Management of Nigeria (DMO) this week; dollar auction by the CBN; and likely mop-up by CBN through secondary market (open market operations, OMO) TBs sale. Last week, cost of funds fell sharply by over 2,500 basis points (bpts) following upsurge in market liquidity to N371.5 billion on Friday from N46.4 billion the previous week.

The upsurge in liquidity was buoyed by inflow of N266 billion from matured TBs, which offset the impact of outflow of N176 billion through primary market (new) TBs sold by the CBN during the week. Consequently, interest rate on Collateralised (Open Buy Back, OBB) lending dropped by 2,516 bpts to 18.17 percent last week from 43.33 percent the previous week. Similarly, interest rate on Overnight lending dropped by 2,600 bpts to 19.5 percent from 45.5 percent the previous week.

Read more at: https://www.vanguardngr.com/2018/02/eurobond-nigeria-external-reserves-hit-54-months-high-45bn/

Okoyeebos:
My friend, shut up your mouth. Everyone who criticises Buhari is a wailer?

I voter for Buhari in 2003 against OBJ, voted him in 2007 against Yar Adua and Atiku, voted him in 2011 against GEJ and had to travel to my former base and booked an hotel to vote for him in 2015. Mind you, I'm a Yoruba man and I believed in him. Where were you then?

As for OBJ, Yar Adua and Jonathan, they were all thieves and leadership misfits BUT, the poverty level was not this high. Look at how people are committing suicide because of biting poverty?

Mind you, the fuel scarcity we presently have is the longest-running scarcity in the history of this country. They don't want subsidy on fuel but they're subsidising pilgrimage to Mecca and Jerusalem.

Keep fooling yourselves, some of us have gotten wiser.

Abbeysunday:
Exactly sir....U are senseless daddy

Okoyeebos:
Who is this potopoto slave tyPInG nonsense?

chibuzorAbia:
YAM LEG,

U GO WAIL TIRE!

YET BUHARI WILL WIN 2019 , GET READY TO KEE YA YAMIRIN SEF!

Okoyeebos:
Exactly 10 years ago, someone in the CBN wanted to do something similar but the economic blockheads ruling us frustrated it.

http://www.cbn.gov.ng/redenomination/newpolicy.asp

Okoyeebos:
From my experience in Igboland so far, they greet their parents without any sign of respect or regards. It doesn't mean they don't love their parents, it's just that money is given more prominence than respect.

I've seen a situation where a father was asked to stand up in a meeting for his son to seat simply because his son had little money and the father was a pensioner.

biacan:
97% of Nigerian men are suffering from masturbation mostly young men...... It takes the grace of the creator for one to overcome lust....


Modify


For all those masturbators quoting me please that's not my hand writing

Chiedu4Trump:
See this Fulani, this is India where they worship cows!
www.nairaland.com/attachments/6687872_cow_jpeg00fd26475738e4a64f99ca879a807c70

https://www.nhsf.org.uk/2007/05/why-do-hindus-worship-the-cow/

We dont worship cows!

CROWNWEALTH019:
Master-slave relationship is all I see here

minasota:
Thank God I don't have a joystick or Magicstick

checkolatunji:
At least you have small brain wey your mama give to remember Yoruba Yoruba. its shows Yoruba is a very big language for you to consider it and you
couldnt hold it back from your mount

your language is not even considered, what a shame

checkolatunji:
At least you have small brain wey your mama give to remember Yoruba Yoruba. its shows Yoruba is a very big language for you to consider it and you
couldnt hold it back from your mount

your language is not even considered, what a shame

DailyDevotion1:
RCCG Sunday School Students Manual For February 11th, 2018 Lesson 24 : Topic — Dealing With Addictions
by Adegbola Akanni on February 11, 2018 in Pastor E. A. Adeboye, RCCG Weekly Sunday School Manual

For better understand follow RCCG Sunday School Teachers Manual For February 11th, 2018 Lesson 24 here https://www.muyilight.com/2018/02/rccg-sunday-school-teachers-manual-for.html

TOPIC: Dealing With Addictions

1. O Sunday School, on the Lord's day,
O how I love Thee well,
I am happy, it makes me glad
To rejoice at Thy birth.

2. O Sunday School, on the Lord's day, Thy friendship suits me well,
Both young and old will sing Thy song,
We long for Sunday School.

3. O Sunday School, on the Lord's day,
Christ was Thy first teacher,
The Holy Spirit, great teacher,
Does manifest in thee.

4. O Sunday School, on the Lord's day,
This testimony is sure,
That God, the Father Almighty,
Poured His blessing on Thee.

5. O Sunday School, on the Lord's day,
Though the sun be so bright,
Or if the clouds black with rain,
I'll be in Sunday School.

6. O Sunday School, on the Lord's day,
I rejoice to see Thee,
Will thou pass over me today?
Without my being blest?

MEMORY VERSE: ‘’Depart ye, depart ye, go ye out from thence, touch no unclean thing; go ye out of the midst of her; be ye clean, that bear the vessels of the LORD." - Isaiah 52:11

BIBLE PASSAGE: Proverbs 31:2-7

2 What, my son? and what, the son of my womb? and what, the son of my vows?

3 Give not thy strength unto women, nor thy ways to that which destroyeth kings.

4 It is not for kings, O Lemuel, it is not for kings to drink wine; nor for princes strong drink:

5 Lest they drink, and forget the law, and pervert the judgment of any of the afflicted.

6 Give strong drink unto him that is ready to perish, and wine unto those that be of heavy hearts.

7 Let him drink, and forget his poverty, and remember his misery no more.

INTRODUCTION:
Addiction is a compulsive tendency developed over a period of continuous and repeated actions or exposures to a certain substance. It can result in loss of willpower and self-esteem, loss of or shift in focus, social and emotional disconnect, poverty, death, etc. According to the American Society of Addiction Medicine, addiction leads to characteristic biological, psychological, social and spiritual manifestations.

LESSON OUTLINES:

1. Types of addictions
2. Overcoming addictions

TYPES OF ADDICTIONS:
1. Substance Addictions (Proverbs 20:1; 23:29-35; Isaiah 5:11-12; 28:7- e. g. drug abuse (cocaine, opioids-heroine, amphetamines, benzodia-zepines), alcoholism, smoking (cigarette, tobacco, marijuana, nicotine), caffeine (coffee, coke, cola), etc.

2. Behavioural or Process Addictions (1Kings 11:4-5; Proverbs 31:3; 1Peter 4:3): This is addiction to mood-altering behaviours such as gambling, sexual activity (masturbation, sex, pornography, etc.), eating disorders, spending, shopping, watching television, etc.

3. Position Addiction is a kind of addiction associated with power, influence and affluence (Proverbs 28:15). Just as with every other type of addictions, the position addict enjoins his power, influence or affluence at the expense of others. Examples are King Saul (1Samuel 19:1; 8-10). And King Hezekiah (Isaiah 39:1-.

OVERCOMING ADDICTIONS:

1. Take a stand. You must first of all acknowledge that addiction is an affliction and you are already caught up in its web. Then, you must be willing to break free from its bondage while acknowledging that you cannot help yourself (Psalm 51:1-4).

2. Seek help (James 5:13-16). You must open up to God (Proverbs 3:4-5; 1Peter 5:7) and to people who can be of help in breaking the evil habit. Surrender yourself for proper screening and therapies (pharmacotherapy, psychotherapy and spiritual therapy).

3. Avoid relapse. Relapse is to addiction what backsliding is to sin and its episode is usually worse than before the treatment/deliverance (Matthew 12:43-45; 2Peter 2:20-22).

4. Keep your heart with all diligence (Proverbs 4:23) and renew it daily (Romans 12:1-2; Ephesians 4:22-23). Addiction is really a battle of the mind.

5. You must avoid exposures to all forms of triggers (1Corinthians 15:33; 2Corinthians 6:15-20; Ephesians 5:11-12).

6. Keep the company of those who can encourage you in your journey to total victory (Hebrews 10:24-25).

CONCLUSION:
Withdrawal from addiction often comes with a myriad of challenges usually referred to as withdrawal syndrome. It is incumbent on the brethren not to cast away (Psalm 38:11) the victim at this critical time but to show him/her love and encouragement until the victory is won (2Timothy 1:15-16; Psalm 133:1-3).

QUESTIONS:
1. What are the types of addiction we have around us?
2. How can one overcome addictions?

For better understand follow RCCG Sunday School Teachers Manual For February 11th, 2018 Lesson 24 here https://www.muyilight.com/2018/02/rccg-sunday-school-teachers-manual-for.html