Thursday, January 17, 2019 9:25:57 AM- Nigerian Stock Exchange.



  Top Financial News

      

25 June 2018 ( Lagos )


Stocks fall further, NSE reviews market indices’ composition: The market capitalization of equities listed on the Nigerian Stock Exchange continued its downward trend last week, falling by 2.74 per cent at the end of trading.(Source: Punch)


 NNPC loses N547bn in three years: The group monetary loss of the Nigerian National Petroleum Corporation for 2015, 2016 and 2017 is N547bn, the latest review of the oil firm’s financial and operations reports in the period has revealed.(Source: Punch)


 Exporters lament as N500bn intervention fund sits idle: Applications for the N500bn Non-oil Export Stimulation Facility that is meant to provide very cheap funding for exporters are piling up at the Central Bank of Nigeria, thereby frustrating the purpose for which it was set up.(Source: Punch)


IFC gives Indorama Eleme Fertilizer US$1bn loan: The International Finance Corporation (IFC), a member of the World Bank Group, has announced a US$1bn loan support for Indorama Eleme Fertilizer & Chemicals Limited. A statement issued by the bank in Abuja on Friday said the project would support Nigeria’s agricultural sector and economic diversification programme. (Source: Punch)


FG to commercialize river basin agencies by 2019: The federal government plans to commence the partial commercialization of River Basin Development Authorities (RBDA) in the country by 2019. The Minister of Water Resources, Suleiman Adamu, stated this at the investiture of the 10th President of the Nigerian Academy of Engineering in Lagos on Thursday, adding that the National Council on Privatization had approved the appointment of a transaction adviser to guide the process. (Source: Punch)

 

About N1.6trn pension funds underutilised: About N1.6trn (US$4.4bn) worth of pension funds, representing 20% of the total N7.94trn (US$22bn) available for investment in infrastructure and instruments, remains untapped. Out of the N1.6trn (US$4.4bn) earmarked for investment, less than 5% is being utilized, amounting to over N1bn (US$1.8m). (The Nation)


Nigerian bourse to improve equities trading efficiency with new trading structure: The Nigerian Stock Exchange (NSE) will next week launch a new market structure aimed at creating an optimal market design to improve market depth, liquidity provision and price efficiency. The improved market structure, which will be launched on July 1, 2018, will create a level playing field for all market participants, and allow for the creation of new trading strategies. (The Nation)

 

Banks face tough margins as yields dip: About two-thirds of banks witnessed a contraction in their profitability in the first quarter (Q1) of this year,  struggling between relatively steady income lines and declining yields on transactions.(The Nation)

 

DPR declares war on fake lubricants producers: The Department of Petroleum Resources (DPR) is to arrest individuals and firms who illegally produce and sell lubricants, it was learnt at the weekend.(The Nation)

 

AMCON restructures, strategizes for speedy asset disposal: Asset Management Corporation of Nigeria (AMCON) has restructured its asset sales in a bid to facilitate speedy disposals.(Source: Vanguard)


 Dangote Sugar commits N121bn on backward integration programme: The Chairman of Dangote Sugar Refinery, DSR Plc, Alhaji Aliko Dangote, has said that the company spent N121billion in 2017 in pursuit of its backward integration programme.(Source: Vanguard)

 

Interbank lending falls as govt redeems N444 billion T-Bills: There was near excess in the quantity of money in circulation last week, save for the increased mop up exercise by the Central Bank of Nigeria (CBN), following the repayments of N66.7 billion and N377.6 billion worth of Treasury Bills (T-Bills) and Open Market Operations.(Source: The Guardian)


FCMB, others make NSE’s top 30 index: The FCMB group, Oando Plc, Berta Gas and UACN, have emerged as the likely companies that would enter the Nigerian Stock Exchange (NSE) expected review of the NSE 30, and the six sectoral indices.(Source: Daily Trust)

 

6 banks pay N155.45bn into sinking fund in 3 years: Six Commercial banks have made payments totaling N155.45 billion into the sinking fund of Asset Management Corporation of Nigeria (AMCON) within three years.(Source:Daily Trust)


Reporting for EasyKobo on Monday, 25 June 2018 in Lagos, Nigeria





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