Tuesday, January 22, 2019 1:38:08 PM- Nigerian Stock Exchange.

  Top Financial News


04 July 2018 ( Lagos )

 NNPC seeks capital market funds for oil projects: The Nigerian National Petroleum Corporation is planning to raise money from the capital market to finance oil projects across the country. (Source: Punch)


Nigeria's 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, extending efforts to boost liquidity and alleviate dollar shortages. (Source: Reuters)


Contributory pension scheme records 8.02 million participants: The number of workers with Retirement Savings Accounts under the Contributory Pension Scheme rose to 8.02 million at the end of April this year, figures released by the National Pension Commission on Monday showed. The total pension funds under management by operators also rose to N8.09trn (US$22.4bnbn) in the period under review. (Source: Punch)


Jaiz Bank, 29 others drag stock market lower: The equities market extended its decline on Tuesday as 30 companies led by Jaiz Bank Plc recorded losses at the close of trading on the Nigerian Stock Exchange. (Source: Punch)


Honeywell Flour Posts Marginal Profit Growth on High Financing Cost: Although the company recorded a growth of 34 per cent in revenue, it ended the year with a marginal growth of 2.8 per cent in profit after tax due to a 64% jump in finance cost. (Source: Thisday)


Insurers Secure Tax Refund of N1bn from FG, States: The Nigeria Insurers Association (NIA) said it secured a tax refund of over N1 billion and realised a total of N500 million as contributions from all its members in 2017. (Source:Thisday)


10 Banks Facilitate N52tr on Investment in Fixed Income Securities, Currency: Stanbic IBTC Bank Plc, Access Bank Plc, and the United Bank for Africa Plc led the top 10 banks that facilitated investment in fixed securities and currency valued at N69.16 trillion on the FMDQ OTC Securities Exchange between January and May 2018. (Source: Thisday)


AMCON Sets to Publish Names of Debtors: The Asset Management Corporation of Nigeria (AMCON) has expressed its readiness to publish in widely read daily newspapers, specific and detailed list of all erring debtors and directors where applicable, that have failed to reach or refused to reach settlement resolution with the corporation. (Source: Thisday)


Multi Fund structure investment begins: The National Pension Commission (PenCom) on  July 1 started the implementation of Multi Fund investment structure, a new investment regulation that allows pension contributors to make choices on how they want their pension fund invested based on their risk appetite. (Source: Vanguard)


CBN to banks: Don’t take fees on transactions you initiate: The Central Bank of Nigeria (CBN) has directed commercial banks not to charge fees on transactions initiated by them. (Source: Vanguard)


FG seeks less than $15/barrel cost: The Federal Government, on Tuesday, said that it was seeking to reduce cost of crude oil production to less than $15 per barrel. (Source: Vanguard)


Buhari writes Senate, seeks confirmation of Shonubi as CBN Deputy Governor: President Muhammadu Buhari has written to the Senate, asking for the confirmation of Mr. Folashodun Shonubi as the Deputy Governor of the Central Bank of Nigeria, CBN. (Source: The Nation)


Guinness invests N6.5bn on PET plants: Guinness Nigeria Plc, said it has invested N6.5 billion on its PET bottle line for its non- alcoholic beverage brands; Dubic, Malta Guinness and Orijin-zero which will be available in 33 centilitre bottle and other support activities. (Source: The Nation)

Egina FPSO: Nigeria to get additional .2m b/d capacity in weeks: The 200,000 barrels per day of oil capacity, Egina Floating, Production, Storage and Offloading unit (FPSO)  will be moved to site in the coming weeks, Total official has said. (Source: The Daily Trust)


Old Mutual to sell insurance through Ecobank: Old Mutual General Insurance Company and Old Mutual Nigeria Life Assurance Company, subsidiaries of Old Mutual Limited, have partnered Ecobank Nigeria on  Bancassurance to increase insurance penetration in Nigeria. (Source:TheDailyTrust)

Submarine cable investments hit US$2.2trn, says FG: Investments in submarine cables in the country have risen to US$2.2trn in the last five years, the federal government has said. The Minister of Communications, Adebayo Shittu, who disclosed this at the Nigeria Internet Governance Forum in Abuja, also stated that active mobile broadband penetration had increased from less than 10% in 2015 to 20.95% in 2017, while internet penetration hit 47.44%. (Source: Punch)

Dangote inaugurates mega cement warehouse in Owerri: Dangote Cement on Monday launched a cement warehouse located at the Industrial Layout, Onitsha Road, Owerri, Imo State, to serve corporates and individuals in the Southeast. (Source: Punch)

Reporting for EasyKobo on Wednesday, 4 July 2018 in Lagos, Nigeria

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