Top Financial News   

11 September 2018

CBN licenses 366 new BDC operators: The Central Bank of Nigeria issued new operational licenses to 366 Bureau De Change operators between January 2018 and May 31, 2018, a new report by the apex bank indicated.(Source:Punch)


Shareholders threaten to sue NAICOM over recapitalization deadline: The Independent Shareholders Association of Nigeria has threatened to sue the National Insurance Commission if it insists on implementing its recapitalization date for the insurance industry.(Source:Punch)


MTN seeks restraining order against CBN, AGF: MTN Nigeria disclosed on Monday that it had applied to the Federal High Court in Lagos for an order restraining the Central Bank of Nigeria and the Attorney General of the Federation and Minister of Justice from taking further actions against it.(Source:Punch)


FG, states, LGs share N2tn in three months: Increase in crude oil price as well as domestic oil production raised the nation’s revenues from oil, which made the three tiers of government to share N2tn in the second quarter of this year.(Source:Punch)


NCC, CPC investigate teleco sector: The Nigerian Communications Commission (NCC) and the Consumer Protection Council (CPC), yesterday in Abuja, inaugurated a joint investigative committee for consumer issues in the telecommunications industry.(Source:The Nation)


CBN: banks’ e-payment transactions hit N99.29tr: The  value  of  electronic  payment transactions has risen by 39.7 per cent to  N99.29 trillion in one year.(Source:The Nation)


Equities hit 15-month low with N155b loss: Nigerian equities continued on the negative trend yesterday as the stock market reopened to large and open sell orders, which overwhelmed bargain-hunting activities.(Source:The Nation)

Liquidity Crisis/Inadequate Tariffs: A key function of the Nigerian Electricity Regulatory Commission (NERC) as contained in section 32(d) of the Electricity Power Sector Reform (EPSR) Act 2005, is to ensure that the prices charged by licensees are fair to customers and sufficient to allow the licensees to finance their activities and to allow for reasonable earnings for efficient operation.(Source:Thisday)


Air Passenger Traffic Grew 23.9% in H1 2018, Says NBS:  The National Bureau of Statistics (NBS) has disclosed that a total of 7,503,408 passengers passed through Nigerian airports in the first half of 2018, representing a 23.9 per cent growth from the 6,054,319 passengers recorded in the first half of 2017.(Source:Thisday)

Modular refineries: FG secures N179.9bn loan from China, eyes 100,000 jobs: The Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the establishment of modular refineries and the Flare Gas Recovery Program in Nigeria.(Source:Daily Trust)


Forex: CBN injects $303m, CNY46.58m into market: The Central Bank of Nigeria (CBN), on Friday injected the sum $303.91 million into the interbank retail Secondary Market Intervention Sales (SMIS). This is in addition to the sale of CNY46.58m in the spot and short-tenored forwards.(Source:Daily Trust)

Reporting for EasyKobo on Tuesday , 11 September 2018 in Lagos, Nigeria

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