Top Financial News   

26 September 2018

Economy may slip back into recession, CBN warns: The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat.(Source:Punch)


Nigeria needs $123.5m to develop industrial minerals – Report: 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)


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.(Source:Punch)


Gas flaring: FG gives oil firms 2019 deadline: Any oil company that cannot stop gas flaring by 2019 should stop producing, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said.(Source:Punch)

NNPC Moves to Halt Oil Workers’ Planned Industrial Action:  The Nigerian National Petroleum Corporation (NNPC) has indicated it would step in to stop oil workers under the aegis of the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) from going on a planned nationwide industrial action which could affect operations in the country’s oil industry.(Source:Thisday)


Equities Market Rebounds on Bargain Hunting in Bellwether Tickers: Gains by bellwether tickers lifted the market Tuesday after opening the week on negative note Monday. Highest capitalised stock, Dangote Cement Plc, Nestle Nigeria Plc, Nigerian Breweries Plc and FBN Holdings Plc are among the 26 stocks that led the rebound of the market.(Source:Thisday)


11Plc, ASCON Bicker over Asset Ownership: There seems to be no end in sight to the lingering dispute between 11Plc (formerly Mobil Oil Nigeria Plc) and ASCON Oil Company Limited as both oil companies have continued to lay claim of right of ownership of a filling station located on the Oshodi-Gbagada Expressway of Lagos State.(Source:Thisday)


Insurance Sector Losses N15bn as Investors Panic over Recapitalisation: The decision by the National Insurance Commission (NAICOM) to shift the recapitalisation deadline from January 1, 2019, to October 2018, is eroding the value of insurance stocks, a development capital market said can scare away more investors.(Source:Thisday)

Naira up to N363.72/$ in I&E window: The Naira, Tuesday, appreciated to N363.72 per dollar in the Investors and Exporters (I&E) window due to a 50 percent increase in volume of dollars traded.(Source:Vanguard)


NEPC, Edo eye $35bn int’l oil palm market: The Edo State Government in collaboration with the Nigerian Export Promotion Council (NEPC), will hold a one-day training for producers and processors of oil palm in the state to improve their capacity for post-harvest handling of the produce so as to tap the $35 billion international oil palm market.(Source:Vanguard)

Nigeria Sees `Happy' Resolution to $8.1 Billion MTN Dispute: After coming out all guns blazing, Nigeria’s central bank surrendered some ground in its tussle with MTN Group Ltd., pledging that a dispute over the repatriation of $8.1 billion in dividends from the country will soon be resolved.(Source:Bloomberg)

Reporting for EasyKobo on Wednesday , 26 September 2018 in Lagos, Nigeria

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