13 June 2018 ( Lagos ):

NNPC raises kerosene price thrice in two months: The Nigerian National Petroleum Corporation has increased the price of kerosene three times between May and June.(Source:Punch)

National carrier to begin operation in December —NCAA: The Director-General, Nigerian Civil Aviation Authority, Capt. Usman Muhtar, has confirmed December as the commencement date for the proposed national carrier.(Source :Punch)

Afreximbank commits N17b to Nigeria: About $17 billion has been approved by African Export Import Bank (Afreximbank) for Nigerian entities since its commencement of operations in 1994 and last December, its President, Benedict Oramah, has said.(Source : Nation)

MTN Nigeria may sell 30% equity to retail investors: Nigeria’s largest telecommunication company, MTN Nigeria, may sell some 30 per cent of its ordinary shares to Nigerian retail investors under its much-awaited initial public offering (IPO).(Source : Nation)

CBN injects additional US$210m into forex market: The Central Bank of Nigeria (CBN) on Tuesday sustained its intervention in the foreign exchange (forex) market with the sum of US$210m so as to meet customers’ requests in various segments of the market. A breakdown of the intervention showed that the central bank offered US$100m to authorized dealers in the wholesale segment of the market, while the small and medium enterprises (SMEs) segment got the sum of US$55m, and customers needing forex for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of US$55m. (Source: The Nation)

African insurer sees Nigeria’s US$500m push portfolio to US$7 bn: African Trade Insurance (ATI) expects its annual insured trade and investment portfolio to double to US$7 bn within five years, driven by new members, including Ghana and Nigeria. Its Chief Executive, George Otieno, said the annual portfolio would rise by US$1 bn this year to US$3.5 bn and double to about US$7 bn by 2022. (Source: The Nation)

AfDB okays US$120m to boost cassava, others: The African Development Bank (AfDB) yesterday said it will invest US$120m over the next two to three years to boost the productivity of cassava and eight other commodities on the continent. (Source: The Nation)

Naira depreciates to N361.30 /$ in I&E window: The Naira on Tuesday, depreciated by 43 kobo to N361.30 per dollar in the Investors and Exporters (I&E) window.(Source:Vanguard)

MSMEs contributes N 38.8 trn to GDP – SMEDAN DG: The Director General of the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Dikko Radda says the Micro, Small and Medium Enterprises, MSMEs contributes about N38.8 trillion (48.47%) to the nation’s Gross Domestic Product, GDP.(Source:Vanguard)

CBN, FMDQ boost market confidence with fixed income settlement solution: FMDQ OTC Securities Exchange, through the Central Bank of Nigeria (CBN), and the Financial Markets Dealers’ Association (FMDA), have established Straight-Through-Processing (STP) for the settlement of fixed income trades. With the support of the CBN and the FMDQ Dealing Member (Banks), FMDQ, on Friday, successfully deployed a fixed income market STP settlement solution through its proprietary market system – FMDQ’s Q-ex – a customized fully integrated multi- asset trading system with attendant post-trade services capabilities. (Source: Guardian) 

Buhari to Sign 2018 Budget on Wednesday: Barring any last-minute change, President Muhammadu Buhari will on Wednesday sign the 2018 Appropriation Bill into law. (Source :Thisday)

C & I Leasing’s Bond Offering Oversubscribed: C&I Leasing Plc’s N7 billion Series one bond which opened on Monday the 21st of May and closed on the 4th of June 2018, has recorded an subscription of 133 per cent. (Source :Thisday)