Top Financial News   

25 September 2018


Govt to sell N289bn assets to fund budget: The Federal Government will offer 10 state-owned companies for sale to selected investors and the public in the fourth quarter to raise N289bn toward funding the 2018 budget, the Bureau of Public Enterprises said.(Source:Punch)

                 

Traders seek ECOWAS intervention as Ghana shuts 400 Nigerian businesses: The National Association of Nigerian Traders on Monday stormed the Economic Community of West African States’ secretariat located in Abuja to protest the alleged closure of shops belonging to Nigerians in Ghana.(Source:Punch)

 

CBN to review our $2.63bn penalty – Stanbic IBTC: The Central Bank of Nigeria has said it will review its decision on the $2.632bn regulatory fine it imposed on Stanbic IBTC Bank Plc on the basis of the Certificates of Capital Importation to MTN Nigeria Communications Limited.(Source:Punch)

 

FG acquires drilling rigs for minerals exploration: In a bid to make the mining sector to contribute more to the Gross Domestic Product, the Federal Government has acquired two drilling rigs to be used in the exploration of minerals deposits across the country.(Source:Punch)


Crude Oil Price Hits Four-year High after OPEC Rebuffs Trump:  Crude oil prices jumped more than two per cent to a four-year high yesterday after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by United States President Donald Trump for action to raise global supply.(Source:Thisday)

 

Power Gencos Gear Up for Force Majeure Over N600bn Debt: Electricity generation companies (Gencos) in Nigeria’s power sector may be forced to declare force majeure on their operations anytime soon on account of accumulated debts owed them by the market since 2013, a document seen by THISDAY has disclosed.(Source:Thisday)

 

TCN Installs 30 Power Transformers in 15 Months: The Transmission Company of Nigeria (TCN) has disclosed that within the last 15 months, it had installed 30 transformers across the country to upgrade its electricity transmission capacity.(Source:Thisday)


Customers meet seamless services at Polaris Bank: POLARIS Bank Limited, PBL, resumed banking activities yesterday across the branches of the former Skye Bank Plc, recording relative calm and seamless services with customers.(Source:Vanguard)

 

Naira now N364.28 per dollar: The Naira on Monday weakened against the dollar at the investor’s (I&E) window, exchanging at N364.28, weaker than N363.68 traded on Friday.(Source:Vanguard)


Nigeria’s Cocoa Crop Shows High Mold Levels: Initial harvests of Nigeria’s main-crop cocoa arriving at ports and warehouses are showing high levels of mold in the major producing southwest region due to a prolonged wet season, according to commodities inspection agents and buyers.(Source:Bloomberg)


Reporting for EasyKobo on Tuesday , 25 September 2018 in Lagos, Nigeria

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