Thursday, January 17, 2019 9:43:55 AM- Nigerian Stock Exchange.

  Top Financial News


12 July 2018 ( Lagos )

$5.1bn cash call dispute with Nigeria over —IOCs: The $5.1bn joint venture cash call argument between the Federal Government and international oil companies operating in Nigeria is over. (Source: Punch)


FOU Customs generate N8.6bn revenue in six months: The Nigeria Customs Service, Federal Operations Unit, Zone ‘A,’ has announced revenue generation of over N8.6bn between January and June. (Source: Punch)


Banking sector stability key to economic recovery ?MPC: The Monetary Policy Committee of the Central Bank of Nigeria has said the stability of the banking sector is key to economic recovery. (Source: Punch)


FG okays N358bn contracts for roads, others: The federal government on Wednesday approved contracts totalling about N358bn (US$991m) for roads, bridges and power at a meeting of the Federal Executive Council meeting presided over by President Muhammadu Buhari. (Source: Punch)


Why Nigeria hasn’t signed AfCFTA pact –Adeosun: The Minister of Finance, Mrs Kemi Adeosun, explained why President Muhammadu Buhari had not given assent to the African Continent Free Trade Agreement, which is expected to increase intra-African trade by 52.3 per cent from the current 19 per cent. (Source: Punch)


Digital Economy: FG Targets $88bn Revenue in Three Years: The Nigerian government is resolute in creating an enabling environment where digital economy opportunities are not just theoretical but become real. (Source: Thisday)


All-Share Index Closes 0.45% Lower as Equities Markets decline Further: the Nigerian Stock Exchange (NSE) All-Share Index depreciated by 0.45 per cent to close at 37,253.25, driving down the year-to-date decline to 2.59 per cent. (Source: Thisday)


Telecoms Operators Threaten to Shut Down Operations over Attacks: Following this week’s attack on MTN facilities and staff across different locations by the Nigeria Labour Congress (NLC), coupled with other attacks on telecoms facilities emanating from government agencies across the country, telecommunication operators have called on the federal government to intervene in order to avoid collapse of the country’s telecoms system. (Source: Thisday)


Afreximbank Invests $17bn in Nigeria:The Africa Export-Import Bank (Afreximbank) disclosed yesterday that its investment in the Nigerian economy stands at over $17 billion. (Source: Thisday)


FG meets with Volkswagen, BMW, Uber, others on automotive policy: The federal government has held discussions with 20 investors and consultants from some of the leading global car makers in a bid to give the Nigerian automotive sector a boost. Vice President, Yemi Osinbajo, hosted the automotive industry stakeholders from Volkswagen, Nissan, Bosch, BMW and Uber.  (Source: Thisday)


SEC approves NSE rule on nominal transfer of shares: Nigeria’s Securities and Exchange Commission (SEC) has approved the Nigerian Stock Exchange amended rule 15.34 which relates to nominal transfer of shares of listed companies in the capital market. According to the rule, “No security listed on the Exchange shall be bought or sold outside the facilities of the Exchange. Any securities holder that wishes to transfer his securities by way of a nominal transfer shall apply to the Exchange through his stockbroker for transfer of the securities.” (Source: Vanguard)


Nigeria loses $300m annually to offshore vessel berthing – Omatseye: Former Director General of Nigerian Maritime Administration and Safety Agency, NIMASA, Temisan Omatseye, has said that Nigeria is losing about 300 million dollars yearly for berthing Five Degrees East on Nigerian waters. (Source: Vanguard)

Lagos-Ibadan rail: Disquiet as FG demands list of local engineers: There is disquiet over the alleged flouting of the Nigerian content law in the on-going $1.5bn Lagos-Ibadan standard gauge project being constructed by the China Civil Engineering and Construction Company (CCECC).(Source: DailyTrust)


NDDC revenue: NPDC, others get July deadline to remit funds: The House of Representatives ad hoc panel “investigating all outstanding sums due to the Niger Delta Development Commission (NDDC) since 2000” yesterday mandated defaulting oil firms to remit their indebtedness to the Commission before end of July 2018 or “face the wrath of the law.”(Source: DailyTrust)

Oando, Shell, Agip sign $3.7b gas supply contract with NNPC: Oando Plc, Nigeria Agip Oil Company (NAOC), Shell Petroleum Development Company (SPDC), other indigenous and international oil companies in partnership with the Nigerian National Petroleum Corporation (NNPC) have signed agreement to implement gas projects worth $3.7 billion.(Source: The Nation)

Mota-Engil Africa Eyes $1.8 Billion Building Projects in Nigeria: Portuguese construction company Mota-Engil SGPS SA is looking at projects in Nigeria worth as much as 1.5 billion euros ($1.8 billion) after signing a joint venture with a local company to enter Africa’s largest economy and the continent’s biggest oil producer.(Source: Bloomberg)

Nigeria's President Buhari says will soon sign up to African free-trade agreement: Nigeria’s President, Muhammadu Buhari, confirmed that the country will sign up soon to a US$3trn African free-trade agreement after the initial refusal to join a continental free-trade zone established in March on the grounds that it wishes to defend its own businesses and industry. (Source: Reuters)

BPP begins unified e-govt procurement implementation: The Bureau of Public Procurement (BPP) has commenced the process of implementing a unified e-Government Procurement (e-GP) system. The e-government procedure will integrate existing systems to provide a collaborative government procurement platform for all public procurement at the federal level. (Source: The Nation)

Reporting for EasyKobo on Thursday, 12 July 2018 in Lagos, Nigeria

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