06 July 2018 ( Lagos ) 

Nigeria's ruling APC splits: Nigeria’s ruling party has split after a faction declared that it no longer supports the government of President Muhammadu Buhari. A group of politicians who were part of the All Progressives Congress (APC) told a news conference in Abuja late on Wednesday they had formed a new faction, led by former Buhari ally Buba Galadima and called Reformed-All Progressives Congress (R-APC). (Source: Reuters)

Lekki Free Zone export flow will hit over US$6bn: Lagos state governor, Akinwunmi Ambode, yesterday said the export inflow at the Lekki Free Zone (LFZ) is projected to hit over US$6bn by 2020. The governor spoke at the second national committee meeting on export promotion of the National Economic Council (NEC) in Lagos. (Source: The Nation)

NNPC audits retail subsidiary’s field operations: The Nigerian National Petroleum Corporation announced on Thursday that it had commenced a nationwide audit of the field operations of its subsidiary, NNPC Retail Limited. (Source: Punch)

FAAC deadlock: Buhari to take a stand soon, says Adeosun: The Minister of Finance, Kemi Adeosun, on Thursday said President Muhammadu Buhari had promised to “take the next step” on the issues that led to last week Wednesday’s meeting of the Federation Accounts and Allocation Committee ending in a deadlock in Abuja. (Source: Punch)

Why we shut down N300m Agbara factory – P&G: Procter and Gamble has said that the decision to shut down its N300m diaper factory in Agbara, Lagos is strictly a business one, aimed at restructuring and making the firm more productive. (Source: Punch)

SANEF: CBN demands daily returns from banks, agents: The Central Bank of Nigeria has demanded that banks that appoint/have agents, mobile money operators, and licensed super agents should render daily returns through the Nigeria Inter-Bank Settlement Scheme to it, in a bid to implement the Shared Agency Network Expansion Fund initiative. (Source: Punch)

CAMA bill re-enacted to protect MSMEs – CAC: The Corporate Affairs Commission said that the recent repeal and re-enactment of the Companies and Allied Matters Act was done with the aim of protecting the Micro, Small and Medium Enterprise sector of the economy. (Source: Punch)

Naira Appreciates to N357/$ as External Reserves Sustain Gains at $48bn: The sell rate of the naira appreciated significantly to N357 to a dollar on the parallel market Thursday, from the N359 to a dollar it was the previous day, as demand for the United States currency continued to weaken. (Source: Thisday)

All-Share Index Appreciates 0.65% as Market Halts Three-day Bear Run: The equities market halted a three-day bearish run to record the first positive performance yesterday since the start of the second half of the year. (Source:Thisday)

Nigeria Imported Fish Worth $170m from Iceland, Russia, Norway in 2017:  Nigeria imported fish worth $71 million, $56 million and $43 million from Iceland, Russia and Norway respectively in 2017. (Source: Thisday)

Vessel import: Nigerian ship owners protest 15% Customs duty: Ship-owners Association of Nigerian, SOAN, yesterday, called for the review of the law that imposes high Customs duty of 15 percent on importation of Nigerian flagged vessels, whereas vessels flying foreign flags are required to pay as little as one percent. (Source: Vanguard)

Miners hail FG over approved N12bn for exploration data generation: Abuja miners under the auspices of Miners Association of Nigeria hailed the Federal Government over approval of N12.7 billion for exploration data generation for investors and operators in the mining sector. (Source: Vanguard)

NPA seals up Tin-can container terminal: The Nigerian Ports Authority (NPA) has ordered the sealing up of Tin-can Island Container Terminal (TICT), following the failure of shipping companies using the terminal to provide holding bays for their empty containers. (Source: Vanguard)

NNPC pays $1b out of $5b cash call, says Baru: The Nigerian National Petroleum Corporation (NNPC) has paid $1billion out of its $5billion cash call arrears.(Source: The Nation)

NSE suspends trading on eight companies: Authorities at the Nigerian Stock Exchange (NSE) yesterday suspended trading on eight companies for failing to adhere to best corporate governance and extant post-listing requirements. The suspended companies include African Alliance Insurance, Cornerstone Insurance, R T Briscoe, Royal Exchange, STACO Insurance, Standard Alliance Insurance, Universal Insurance Company and Veritas Kapital Assurance. A report indicated that the companies were suspended after they failed to file their accounts and operational reports as required by the listing rules. (Source: The Nation)

CBN extends Skye Bank board mandate to 2020: The Central Bank of Nigeria (CBN) has extended the mandate of the current board of Skye Bank  Board of Directors for an additional two-year term - till 30th June, 2020. (Source: Daily Trust)

Reporting for EasyKobo on Friday, 6 July 2018 in Lagos, Nigeria