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  Top Financial News

      

27 June 2018 ( Lagos )


Banks must get Adeosun’s approval before lending to states – DMO: Following the conversion of loans owed by most state governments into bonds, the federal government now insists that no bank should lend to the state governments without clearance from it. The Director-General of the Debt management Office (DMO), Patience Oniha, confirmed this in a telephone interview. (Source: Punch)

 

TCN clears 655 stranded power equipment containers at ports: The Transmission Company of Nigeria on Tuesday announced that it had cleared 655 power equipment containers that were stranded at various seaports in the country for more than 15 years. It stated that over 800 containers were abandoned at different ports across the country for more than a decade, adding that some of them had been auctioned. (Source: Punch)


NCC stops MTN from acquiring Visafone: The Nigerian Communications Commission (NCC) halted moves by South African mobile giant, MTN to acquire the only surviving Code Division Multiple Access (CDMA) operator, Visafone. (Source: The Nation)

 

Sell pressures drag down NSE Index by 0.01%: The bearish market resurfaced in the Nigerian Stock Exchange, NSE on Tuesday, as the All Share Index, ASI inched lower by 0.01% to close 37,988.54 points, owing to sell pressures on a number of medium and large cap stocks. (Source: Vanguard)

 

Oil, gas suppliers to end illegal bunkering, fuel crisis: Petroleum products marketers, under the aegis of Natural Oil And Gas Suppliers Association of Nigeria, NOGASA, has announced plans to partner with the Federal Government to end unnecessary fuel crisis, illegal oil bunkering and products adulteration in the country. (Source: Vanguard)


Concerns Mount over Lack of Board for SEC: Operators in the Nigerian capital market have continued to express dissatisfaction over the prolonged delay by the federal government in reconstituting the board of the Securities and Exchange Commission (SEC), almost three years after the previous board was dissolved. (Source: Thisday)


FAAC disbursed 289.04bn to FG in May – NBS: The Federation Account Allocation Committee (FAAC) disbursed N289.04 billion to the Federal Government in May. (Source: Daily Trust)

 

Afam VI plant ready to deliver 624MW electricity – Shell:  Shell Petroleum Development Company of Nigeria Limited (SPDC) said its Afam VI power plant in Rivers State is ready to deliver 624MW electricity into the Nigerian national grid barring any regulator’s restrictions. (Source: Daily Trust)


Nigeria central bank injects US$210m into currency market: Nigeria’s central bank said on Tuesday it had injected US$210m into the interbank foreign exchange market, as part of efforts to alleviate dollar shortages and boost liquidity. (Source: Reuters)


Nigeria’s fertiliser consumption rose by 63% in 2017: According to a report recently released by the International Fertiliser Development Centre (IFDC) in collaboration with the Food and Agricultural Organisation and other international agencies, fertiliser uptake by Nigerian farmers increased by 63% in 2017, rising from 959,364mt in 2016 to 1,564,816mt. (Source: Punch)



Reporting for EasyKobo on Wednesday, 27 June 2018 in Lagos, Nigeria




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