30 August 2018

Illegal funds repatriation: CBN fines four banks N5.8bn, orders lenders, MTN to refund $8.1bn: The Central Bank of Nigeria has imposed heavy fines totaling N5.87bn on four banks under its regulatory purview for alleged illegal funds repatriation.(Source:Punch)

We’ve paid $15bn dividends, $6.5bn taxes to FG – NLNG: The Nigerian Liquefied Natural Gas Limited said on Wednesday that it had so far paid to the Federal Government dividends in excess of $15bn.(Source:Punch)

NNPC to establish 200,000bpd condensate refineries: The Nigerian National Petroleum Corporation has said it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assa North/Ohaji South Areas of Delta and Imo states.(Source:Punch)

Customs probe military wares importation:  The Comptroller-General of Customs, Col. Hameed Ali (rtd), on Wednesday inaugurated a high-powered investigative panel to fish out all those connected with the illegal importation of military wares.(Source:Punch)

Banks release N77.4bn for agric projects: The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has facilitated the release of a total of N77.4bn from the Deposit Money Banks into agribusiness in Nigeria.(Source:Punch)

SEC proposes new rule on derivatives trading: The Securities and Exchange Commission has proposed changes and new rules regarding derivatives trading and registration requirements for commodity brokers.(Source:Punch)

NNPC to establish 200,000bpd condensate refineries: The Nigerian National Petroleum Corporation has said it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assa North/Ohaji South Areas of Delta and Imo states.(Source:Punch)

Egina nears completion as $3.3bn FPSO arrive oilfield: The Egina Deepwater oilfield project by Total Upstream Nigeria Limited is set for completion following the successful integration of the $3.3bn Floating Production, Storage and Offloading unit.(Source:Punch)

Maritime to lead economic diversification — Buhari: President Muhammadu Buhari, yesterday said that the Federal Government is repositioning the Nigerian maritime sector to take a leading position as alternative source of revenue in growing the economy with its economic diversification program.(Source:Vanguard)

GEEP: BoI disburses N15bn loans to 400,000 micro-enterprises: THE Bank of Industry (BoI) has so far disbursed N15 billion loans to about 400,000 micro-enterprises under the Government Enterprise and Empowerment Program (GEEP) of the federal government.(Source:Vanguard)

Naira depreciates to N363.06/$ in I&E window:  The Naira, yesterday, depreciated to N363.06 per dollar in the Investors and Exporters (I&E) window as the volume of dollars traded dropped to $131.82 million.(Source:Vanguard)

May’s Visit: Nigeria’s business community expresses optimism on improved trade relationship: The business community in Lagos says the visit of British Prime Minister, Theresa May, will deepen existing bilateral relationship between the two countries.(Source:Vanguard)

Services, trade account for 55% of economy: The Director General of the Nigeria Office for Trade Negotiations (NOTN), Ambassador Chiedu Osakwe, has said that services and trade account for 55 per cent of the Nigerian economy.(Source:Thisday)

Apapa port records N57bn export in seven months, as command gets new Controller:  The Apapa Area Command of the Nigeria Customs Service said a total of 343,471 metric tons of agricultural produce, mineral resources and other exportable valued at N57 billion were exported out of Nigeria through the Apapa port between January and July 2018.(Source:Thisday)

Firm, AfDB, NDF to launch $58m off-grid energy fund:  Nigerian off-grid energy investment company, All On, has announced its partnership with African Development Bank (AfDB), Nordic Development Fund (NDF), Global Environment Facility (GEF) and Calvert Impact Capital (CIC) towards a $58 million first close for the Off-Grid Energy Access Fund (OGEF).(Source:Thisday)

CBN maintains N15b T-Bills collateral for settlement banks: The Central Bank of Nigeria (CBN) has asked settlement banks to provide clearing collateral of not less than N15 billion worth of treasury bills for them to perform settlement roles.(Source:The nation)

Nigeria saves $800m from rice production:  The Bank of Agriculture (BoA) on Wednesday disclosed that the Federal Government has saved about 800 million dollars by encouraging local production of rice in the country.(Source:The nation)

Reporting for EasyKobo on Thursday ,30 August 2018 in Lagos, Nigeria