Wednesday, December 19, 2018 5:29:50 PM- Nigerian Stock Exchange.

  Top Financial News


26 July 2018 ( Lagos ) 

DMO limits FG borrowing to US$6.25bn this year: The Debt Management Office (DMO) has set the maximum limit of US$6.25bn for the federal government’s borrowing in the 2018 fiscal year. The DMO, in the 2017 Report of the Annual National Debt Sustainability Analysis released on Wednesday, said the US$6.25bn will be sourced equally from domestic and external sources. (Source: Punch)


NAICOM raises insurance firms’ capital base to N15bn: The National Insurance Commission (NAICOM) has raised the minimum capital base for composite insurance companies (life and non-life underwriters) that want to get licences to underwrite all risks in the country to N15bn (US$41.5m) from N5bn. (Source: Punch)


NIMASA contractors fail to remit US$286m revenue – Reps: Private firms engaged by the Nigerian Maritime Administration and Safety Agency (NIMASA) to collect revenue on its behalf have failed to remit money in excess of US$286m to the federal government, the House of Representatives Committee on Marine Safety/Education alleged on Wednesday in Abuja. (Source: Punch)


Industrial council moves to improve FTZs’ operations: The Nigeria Industrial and Competiveness Advisory Council has moved to review fiscal arrangements and incentives applicable to the country’s Free Trade Zones. (Source: Punch)


Nigerian economy loses N3bn to crashes annually –FRSC: The Corps Marshal, Federal Road Safety Corps, Dr Boboye Oyeyemi, has stated that the nation’s economy loses about N3bn to road traffic crashes annually. (Source: Punch)


World Bank portfolio in Nigeria rises to $8.52bn: Nigeria’s liabilities to the World Bank Group now stands at $8.52bn. (Source: Punch)


Presco pays shareholders N2bn dividend, posts N25.40bn profit:  Shareholders of Presco Plc on Wednesday approved the payment of 200 kobo dividend, amounting to N2bn for the year ended December 31, 2017. (Source: Punch)

‘Katsina refinery to cost $2 billion’: The private sector-driven Niger Republic facilitated approved petroleum refinery in Mashi in Kastina State would cost $2 billion (N724,720,000,000.00).(Source: The Nation)


Customs arrests 10, seizes contraband worth over N1.1b: Contraband worth N1.1billion were impounded between the middle of last month and the middle of this month by the Federal Operations Unit (FOU) Zone ‘A’ of the Nigerian Customs Service (NCS).(Source: The Nation)


MAN, others renew call on Buhari not to sign ACFTA: The Manufacturers Association of Nigeria (MAN) and other experts have renewed their call on President Muhammadu Buhari not to rush into siging the African Continental Free  Trade  Area (ACFTA) deal.(Source: The Nation)


Nigerian content fund hits $650m: The Nigerian Content Development Fund (NCDF) has grown to $650million from the previous figure of $600million.(Source: The Nation)


CBN Empowers Women in Business with 60% SME Loan:  The Central Bank of Nigeria (CBN) has moved to encourage women in business by setting aside 60 per cent of the N220 billion CBN loan set out for small and medium scales enterprises (SMEs) so that they can be gainfully involved in the private sector of the economy.(Source: Thisday)

Accrued Rights: PFAs Yet to Feel Impact of N54bn Released By FG: Pension Fund Administrators (PFAs) are yet to feel the impact of the N54 billion released by the federal government last year for payment of accrued rights of pensioners for 2016 and 2017.(Source: Thisday)

 Union Bank Grows Half-year Profit after Tax by 25% to N12bn:  Union Bank of Nigeria Plc has released its financial results for the half year ended June 30, 2018, showing improved performance indicators. The lender recorded gross earnings of N83.3 billion, indicating a growth of 16 per cent.(Source: Thisday)

Total - We Have Injected $10bn into Nigeria’s Economy:  Total E&P Nigeria Limited has put the value of its total investment in the Nigerian economy in the last five years at $10 billion.(Source: Thisday)

NIMASA seals 3 jetties in Lagos over security:  The Nigerian Maritime Administration and Safety Agency (NIMASA) yesterday sealed up three petroleum jetties in Lagos and Delta states over security breach at the different facilities.(Source: Daily Trust)


Investors loss N93bn as market cap at 8-month lowest: Investors in the Nigerian Stock Exchange (NSE)  lost N 93bn at the close of trading yesterday  as market capitalization fell to N13.2 trillion.(Source: Daily Trust)


Finance, Power ministries ranked lowest in transparency: Nigeria’s ministries of Finance and Power, Works and Housing are ranked the lowest among the Ministries, Agencies and Departments (MDAs) in the area of transparency, an Executive Order on the Ease of Doing Business report has shown. (Source: Daily Trust)

C’River set to inaugurate 30,0000 tonnes cocoa processing plant: The governor of Cross River state, Ben Ayade, has announced that the 30,000 tonnes per annum cocoa processing plant in Ikom, Central Cross River State, which is currently under construction, will be completed and commissioned soon. He said the plant will be able to process cocoa beans to chocolate bars. (Source: Thisday)

Reporting for EasyKobo on Thursday, 26 July 2018 in Lagos, Nigeria

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