16 July 2018 ( Lagos )

Chinese oil firm to invest US$3bn in Nigeria: The management of China National Offshore Oil Corporation has expressed its readiness to invest additional US$3bn in its existing stakes in offshore oil and gas operations in Nigeria even though it has previously invested US$14bn in its Nigerian operations. (Source: Punch)

FAAC to probe N90bn revenue underpayment by FIRS: The Federation Account Allocation Committee has expressed its readiness to probe the N90bn allegedly underpaid into the Federation Account by the Federal Inland Revenue Service. (Source: Punch)

Estimated billing: Consumers vow to resist disconnection by Discos: Electricity consumers in the country may be heading for a showdown with the power distribution companies following plans to massively disconnect customers on estimated billing. (Source: Punch)

Collaborative efforts will make capital market vibrant – SEC: The Securities and Exchange Commission has said it is open to suggestions and actions that will make the capital market vibrant, stressing the need for more stakeholder collaboration. (Source: Punch)

Nigeria’s inflation will rise in second half – IMF: The International Monetary Fund on Friday said Nigeria’s inflation, which has been declining for more than a year, would increase in the second half of the year. (Source: Punch)

Refineries lose N33.5bn in three months — NNPC: The nation’s refineries lost the sum of N33.53bn in the first three months of this year. (Source: Punch)

Nigeria, Netherlands N1.2trn volume of trade excites Envoy: Nigeria Ambassador to the Netherlands, Oji Ngofa has expressed satisfaction with the current volume of trade between the two countries, which stood at three billion Euro (N1.2trillion) in the first quarter of 2018. (Source: Punch)

Unclaimed dividends hit N130b: Unclaimed dividends have risen to its highest level of N129.62 billion.  Shareholders have alleged deliberate efforts by registrars and company secretaries to frustrate the recovery of the unclaimed dividends and payment of new ones. (Source: The Nation)

CBN survey shows 12-month interest rates rise: The Central Bank of Nigeria (CBN) has released the second quarter 2018 Inflation Attitudes Survey, which showed that interest rates had risen in the last 12 months by 0.8 points to 32.4 points. The first quarter figure stood at 31.6 points. (Source: The Nation)

NIA makes N153m from data uploads:  The Nigerian Insurers Association (NIA) recorded N153.10 million from data uploads in the Nigerian Insurance Industry Database (NIID) last year. (Source: The Nation)

Why governors rejected NNPC’s remittance to FAAC: Governors rejected the remittance of the Nigerian National Petroleum Corporation (NNPC) to the Federation Account Allocation Committee (FAAC) meeting for last month because it was low. (Source: The Nation)

FIRS: tax revenue hits N2.52tr in six months: The Federal Inland Revenue Service (FIRS) has announced that it realised N2.52 trillion from various taxes from January to June 2018. (Source: The Nation)

Nigeria spends over N120b on sugar importation: Nigeria imported over 750,000 metric tons of raw sugar worth over N120billion in the first six months, it was learnt in Lagos at the weekend. (Source: The Nation)

Govt evaluates bids for N72b power equipment procurement: The Federal Government is evaluating bids from investors  who want to participate in the procurement and installation of the N72billion power equipment for generation of 2,000 megawatts (Mw). (Source: The Nation)

We’ll continue to borrow for infrastructure, Buhari tells AFREXIM: President Muhammadu Buhari on Thursday told the members of the Board of African Export and Important Bank, AFREXIM that his administration will continue to knock on their doors for assistance so as to fix the long decayed infrastructure in the country. (Source: Vanguard)

NSE: Quick budget implementation, new listings will stem slide – Experts: Financial experts on Thursday stressed the need for quick implementation of the 2018 budget and listing of new companies on the Nigerian Stock Exchange (NSE) to tackle the exodus of foreign investors. (Source: Vanguard)

Sell, spray, mutilate banknotes, go to Jail, CBN Warns Nigerians: The development, according to the Acting Director, Currency Operations Department, CBN, Mrs. Priscilla Eleje was to ease difficulties being encountered by the traders and customers occasioned by the inadequate circulation of the lower denomination banks notes like N200, N100, N50, N20, N10 and N5. (Source: Daily Trust)

NIMC requires N150bn to enroll every Nigerian – DG: The National Identity Management Commission (NIMC) says it requires N150 billion to enable it to enroll every Nigerian on the identity card programme in the next three years. (Source: Daily Trust)

Stock Market Loses N320bn on Profit-taking, Political Uncertainties: With two weeks into the second half (H2) of the year, the Nigerian equities market has lost a total of N320 billion following weak demand by investors who are adopting cautious trading. (Source: Thisday)

Trading in Chinese Renminbi to Commence Before End of July, Says CBN: The Central Bank of Nigeria (CBN) yesterday disclosed that trading in the Chinese Renminbi would commence before the end of this month. (Source: Thisday)

FG to Ban Importation of Haulage Vehicles Above 10 Years By 2020, Plus Annual Certification: The federal government has instituted a mandatory certification of all haulage vehicles to be carried out twice in twelve calendar months. (Source: Thisday)

Shell confirms end to force majeure on Nigerian Bonny Light crude exports: Royal Dutch Shell confirms it lifted force majeure on Nigerian Bonny Light crude oil exports on Friday. The company says it lifted the force majeure on Bonny Light exports following the repair and reopening of the Nembe Creek Trunkline by the operator, Aiteo Eastern E&P Company Limited. (Source: Reuters)

FIRS generates N2.53trn from taxes in H1 2018: The Federal Inland Revenue Service (FIRS) has announced that it realised a total of N2.53trn (US$7.0bn) from various taxes between January and June this year. The amount, according to a statement by the Ministry of Finance on Friday, shows that the FIRS has realised 75% of its total revenue target for the year, an improvement over what was recorded in the corresponding period in 2017. (Source: Punch)

Currency in circulation falls to N1.90trn: Data obtained from the Central Bank of Nigeria (CBN) showed that the currency in circulation dropped to N1.90trn (US$5.3bn) as of June 30, 2018 from N1.93trn on May 31. (Source: Punch)

Reporting for EasyKobo on Monday, 16 July 2018 in Lagos, Nigeria