Thursday, January 17, 2019 9:39:51 AM- Nigerian Stock Exchange.

  Top Financial News


02 August 2018 ( Lagos )

Customs generate N162.7bn at Tin Can Island: The Tincan Island Command of the Nigeria Customs Service has announced a total revenue generation of N162.7bn for the first half of the year, January to June 2018. (Source: Punch)


CBN revises banks’ clearing system rules: The Central Bank of Nigeria said on Wednesday that it had revised the clearing system rules for Deposit Money Banks. (Source: Punch)


TCN recovers 693 stranded power equipment containers from ports: The Transmission Company of Nigeria has recovered 693 power equipment containers that were stranded at seaports across the country. (Source: Punch)


Turkey targets N360bn trade transactions with Nigeria: he Turkish Exporters Assembly on Wednesday expressed optimism that trade transactions between Turkey and Nigeria would reach about N360bn in the short-term by 2020. (Source: Punch)

Stocks fall most in six weeks as earnings disappoint:  The nation’s benchmark stock index fell the most in six weeks on Wednesday, as earnings from some of the biggest companies proved disappointing and some investors opted to move money out of equities. (Source: Punch)


Access Bank facilitates $2.6bn trade for 25,000 customers:  Access Bank Plc has said that it has facilitated trade for over 25,000 of its customers with import trade volume of about $2.62bn. (Source: Punch)


Low savings: 92,925 retirees quit contributory pension scheme: More retirees are quitting the Contributory Pension Scheme and withdrawing the funds in their Retirement Savings Accounts because they do not have more than N550,000 in their accounts as of the time  of their retirement, investigation has revealed. (Source: Punch)


PHCN privatisation: Electricity investors declare loss after 5 years:  Almost five years after core investors put $1.2 billion (about N427bn) to acquire 60 per cent stakes in 11 electricity Distribution Companies (DisCos) in 2013, they say they are yet to recover the investments or make profit. (Source: Daily Trust)


Nigeria needs additional 300,000bpd to meet daily consumption: Oil industry experts said yesterday that with the nation’s growth rate, about 300,000 barrels per day is required to meet demand for petroleum products’ consumption. (Source: Daily Trust)


Nigeria’s internet users by 0.3 million in June, NCC says: Internet users in the country decreased by 347,604 in June 2018, sliding from 103,152,726 recorded in May to 102,805,122. (Source: Daily Trust)


RMAFC gives NNPC clean bill on accountability, transparency: The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commended the Nigerian National Petroleum Corporation (NNPC) on its efforts at improving accountability and transparency. (Source: Daily Trust)


Nigeria’s debt composition now 30% external, 70% domestic – DMO: Nigeria’s debt composition is now 30% external and 70% domestic. (Source: Daily Trust)


FG sets up team to unbundle railways: The Federal Government has set up a team for the  proposed unbundling of the Nigeria Railway Corporation (NRC) that would see the entity being broken into three or four groups. (Source: Daily Trust)

Presidential panel to recover N87b bad debts for FMBN: The Special Presidential Investigation Panel for the Recovery of Public Property said it plans to recover N87 billion bad debts owed the Federal Mortgage Bank of Nigeria (FMBN). (Source: The Nation)


Nigeria’s flared gas can attract $3.5b investments: The Department of Petroleum Resources (DPR) has said flared gas in Nigeria can attract $3.5 billion investments. (Source: The Nation)


Settlement banks to submit N15b clearing collateral with CBN:  The Central Bank of Nigeria (CBN) has asked settlement banks to provide clearing collateral of not less than N15 billion treasury bills. (Source: The Nation)


More Firms Eye CPs as Market Liquidity Hits N1.2tr:  The recent sourcing of N50 billion through Commercial Paper (CP) issuance by Dangote Cement Plc has ignited fresh interest among companies to focus attention on that segment of the market.(Source: Thisday)

Pervasive Broadband Access Will Boost GDP, Says NCC: The Nigerian Communications Commission (NCC) has said the growth in telecommunications can be sustained through the provision of pervasive broadband access that will further boost the country’s Gross Domestic Product (GDP).(Source: Thisday)

 Lawmakers Urged to Pass Digital Rights Bill:  Some Nigerians have expressed concern about the delay surrounding the transmission of the Digital Rights and Freedom Bill (DRFB) by the National Assembly to President Muhammadu Buhari for the presidential assent.(Source: Thisday)


Naira appreciates to N362.33/$ in I&E window:  The Naira, yesterday, appreciated to N362.33 in the Investors and Exporters (I&E) window in spite of 52 percent decline in the volume of dollars traded.(Source: Vanguard)

Apapa gridlock : Shippers Council plans truck transit park in Lagos: The Nigerian Shippers Council, NSC, has said it will deploy the Truck Transit Parks, TTP, project with Electronic Call-Up System, ECUPS, to end the endemic traffic gridlock which has locked down Lagos in the last few weeks.(Source: Vanguard)

CBN injects fresh US$210m into forex market: The Central Bank of Nigeria (CBN) on Tuesday made available the sum of US$210 million to meet customers’ requests in various segments of the foreign exchange market. (Source: Thisday)

Shell to consider FID on Bonga Southwest in 2019: Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, a senior company official said yesterday. The project, one of the country’s largest with an estimated production of 180,000 barrels per day, is expected to generate profit at below US$50 a barrel. Shell is currently negotiating a production sharing contract with the Nigerian government, which will determine the viability of the project, he said. (Source: Punch)

Transcorp to begin exploration of oil from OPL 281 in 2019: Transnational Corporation of Nigeria Plc (Transcorp) has unveiled plans to convert its Oil Prospecting Licence (OPL) 281 asset (located in Delta state) to Oil Mining Lease (OML) for commercial production by 2019. The company has already engaged a new technical partner and is in the process of finalising arrangements for the pre-exploratory activities expected to kickoff by 2019. (Source: Guardian)

Reporting for EasyKobo on Thursday 02 August 2018 in Lagos, Nigeria

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