Thursday, January 17, 2019 9:30:55 AM- Nigerian Stock Exchange.

  Top Financial News


30 July 2018 ( Lagos ) 

FG overpays N196bn as personnel costs to 450 MDAs: Despite the introduction of the Integrated Personnel and Payroll Information System to effectively manage the payment of the Federal Government workers’ salaries, the government is still incurring unnecessary personnel costs. ( Source: Punch )

Pension fund assets hit N8.14tn — PenCom: The National Pension Commission said on Sunday that the total pension fund assets stood at N8.14tn as of May this year. ( Source: Punch )


Itakpe-Ajaokuta-Warri rail ready next year — Minister: The Itakpe-Ajaokuta-Warri standard gauge rail line will be ready for commercial use next year, the Minister of Transportation, Rotimi Amaechi, has said. (Source:Punch)


2019: INEC budgets N1.8bn for possible presidential run-off: The Independent National Electoral Commission has budgeted the sum of N1.8bn for a possible Presidential run-off in 2019. ( Source: Punch )


Equities Market Rebounds as Corporate Earnings Trickle In: The stock market recorded a marginal growth of 0.09 per cent last week after three weeks of bearish trading. The rebound followed investors’ reaction to the release of corporate results by some companies for the half year ended June 30, 2018. (Source: Thisday)


FCMB Group Records 86% Increase in Half-year Profit: The FCMB Group Plc recorded a profit before tax (PBT) of N7.1 billion for the six-months ended 30 June 2018. This represented an increase of 86 per cent from the N3.8billion it achieved for the same period in 2017. (Source: Thisday)


NNPC Records N240bn Loss in 13-month Petrol Supplies: Between March 2017 and March 2018, a period of 13 months, the Nigerian National Petroleum Corporation (NNPC) incurred a loss of N240,304,755,518 as under-recovered expenditure in importing petrol at the international market price and selling at the federal government’s regulated pump price of N145 per litre, according to the corporation’s monthly financial report. (Source: Thisday)


FMDQ shareholders approve N5bn capital raise, name change:  Shareholders of FMDQ OTC Plc have approved the plan by the Board of Directors to raise N5 billion fresh capital to further boost its operation. (Source: Vanguard)


Transactions on e-payment platforms hit N38.4 trn: Reports of the Nigerian Interbank Settlement System, NIBBS, have indicated that Nigeria’s electronic payment (e-payment) services recorded N38.5 trillion transactions in the first half of 2018, H1’18, about 38.4 percent higher than the N27.8 trillion in the corresponding period of 2017, H1’17.(Source: Vanguard)


Excess liquidity to persist as over N1trn hit interbank: The excess liquidity prevailing in the interbank money market will persist this week due to inflows of over N1 trillion expected from matured treasury bills and statutory allocation to the three tiers of government.(Source: Vanguard)


Only 3 corporate entities accessed domestic bonds in 2017 - DMO:  The Debt Management Office (DMO), says only three corporate entities accessed the domestic bonds market in 2017 with a total issuance of N23.15 billion.(Source: Daily Trust)

 FAAC crisis: Buhari directs new template on revenue remittance: The lingering crisis between the Nigerian National Petroleum Corporation ( NNPC) and Federation Account Allocation Committee ( FAAC) over revenue remittances may have been resolved as president Buhari was ordered a new remittance template.(Source: Daily Trust)


CBN injects $340m, CNY 69m into Retail SMIS:  The Central Bank of Nigeria (CBN), at the weekend, injected $340 million into the interbank retail Secondary Market Intervention Sales (SMIS). This is in addition to the sale of 69 million Chinese Yuan (CNY)  in the spot and short tenored forwards.(Source: The Nation)

Reporting for EasyKobo on Monday, 30 July 2018 in Lagos, Nigeria

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