Top Financial News   

09 July 2018 ( Lagos )

Retirees kick as pension operators slash lump sum to 20%: A new template recently given to the Pension Fund Administrators by the National Pension Commission for the calculation of retirement benefits to Contributory Pension Scheme retirees has led to the reduction in lump sum being paid out and this is generating concerns among some pensioners. (Source:Punch)


MTN hasn’t filed application for IPO – SEC: The Securities and Exchange Commission on Sunday said it had not received any application from MTN Nigeria Limited regarding its proposed initial public offering. (Source:Punch)


Shareholders demand forensic audit report on Oando: Shareholders under the aegis of Proactive Shareholders Association of Nigeria have called for the release of the forensic audit report on Oando Plc. (Source:Punch)


Power grid collapsed three times in Q2 – TCN: Nigeria’s electricity generation system collapsed three times in the second quarter of this year, the latest report from the Transmission Company of Nigeria obtained on Friday in Abuja indicated. (Source:Punch)


National Airline Takes off in December, Says FG: The federal government yesterday said the proposed national airline for the country would be unveiled in December, 2018. (Source:Thisday)


2020 Financial Inclusion Target Not Feasible, Says CBN: The Central Bank of Nigeria (CBN) has disclosed that the country is “not on track to meet the 2020 targets set out in the National Financial Inclusion Strategy (NFIS) of 2012.” (Source:Thisday)


Bond Yields Rise above 13.20%:  FGN bonds traded at the over-the-counter (OTC) segment last week depreciated in value for all maturities tracked on renewed bearish activity. (Source:Thisday)


Cadbury   Shareholders Approve 16k Dividend, Commend Return to Profitability: Shareholders of Cadbury Nigeria Plc last  Friday approved a total dividend of N301.51 million declared by the company for the financial year ended December  31,  2017. (Source:Thisday)


Moody’s: Nigeria’s 2018 Capital Budget Unrealisable: As the federal government prepares to commence the implementation of its 2018 budget, Moody’s Investors Services Limited, one of the leading global rating agencies, has stated that the capital expenditure portion of the fiscal plan is unrealizable. (Source:Thisday)

Turnover in I&E rises 24% to $29.7bn in H1’18: The volume of dollars traded in the Investors and Exporters, I&E, window rose by 24.2 percent to $29.7 billion in the first half of the year, H1’18, from $23.9 billion traded in 2017. (Source:Vanguard)


Stock market Year to Date return lower to -1.61%: The equity trading on the Nigerian Stock Exchange, NSE, showed that the equities market fell Week-on-Week (W-o-W) as the NSE All Share Index (Source:Vanguard)


11 banks net N143bn from accounts maintenance charges: Customers of eleven banks have paid N143 billion as Account Maintenance Fee, AMF, since 2016 when it was introduced by commercial banks. (Source:Vanguard)


New major investors acquire 16.75% stake in Nahco: Investors have concluded transfer of about 16.75 per cent equity stakes in Nigerian Aviation Handling Company (Nahco) Plc, raising  possibility of changes in the shareholding structure of the ground handling company. (Source:The Nation)


Banks stop cash withdrawal from overseas ATMs: Banks have suspended all cash withdrawals from overseas Automated Teller Machines (ATMs), except for customers whose cards are linked to domiciliary accounts funded locally. (Source:The Nation)


NNPC subsidiary generates N72.7b from gas: A Subsidiary of the Nigerian National Petroleum Corporation (NNPC), Gas Processing and Transportation Company (NGPTC), has announced that it generated N72.7 billion from gas in 2017. (Source:The Nation)

Dangote Cement mulls London listing after 2019 elections: Dangote Cement Plc may carry out the much-awaited listing of its shares in the London Stock Exchange after next year’s general elections in Nigeria, Edwin Devakumar, Group Executive Director, Dangote Industries Ltd, has disclosed. (Source:DailyTrust)

Reporting for EasyKobo on Monday, 9 July 2018 in Lagos, Nigeria

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