Top Financial News   

11 October 2018

IMF cautions Nigeria on external reserves depletion: The International Monetary Fund has said Nigeria needs to be cautious about the use of its foreign exchange reserves, saying oil prices could decline at any time.(Source:Punch)


Odu’a approves N277.7m dividend for shareholders: The Chairman, Odu’a Investment Company Limited, Olusola Akinwumi, has announced N698m as the profit before tax made by the conglomerate for the financial year ending December 31, 2017.(Source:Punch)


AMCON wants Polaris Bank sold in two years: The Asset Management Corporation of Nigeria has said it wants a quick sale of Polaris Bank, the lender created to take over the assets and liabilities of the failed Skye Bank Plc..(Source:Punch)


Nigeria, Afrexim hold talks for increased shareholding:  The Federal Government and the management of Afrexim Bank on Wednesday held talks on increasing Nigeria’s share in the pan-African export import bank.(Source:Punch)


NNPC faces pressure as petrol landing cost hits N205:  The landing cost of the Premium Motor Spirit (petrol) being imported into the country has risen to at least N205 per litre on the back of the recent increase in global oil prices, putting more pressure on the Nigerian National Petroleum Corporation.(Source:Punch)


Tax evasion: Buhari moves against errant offshore assets owners: President Muhammadu Buhari has stepped up the regulations on money laundering and tax evasion by signing Executive Order 008 entitled: ‘Voluntary Offshore Assets Regularisation Scheme’. (Source:Punch)

Airtel Extends 4G Launch to Major Cities in Delta: Airtel Nigeria has announced the launch of its 4G – LTE service in Delta State, covering major cities and towns including Warri, Effurun, Asaba, Kwale, Ughelli, Sapele, Okpanam, and Agbor, among others.(Source:Thisday)


Telecoms Growth, a Boost to Nigeria’s Economy, Says NCC: The rapid growth of the Nigerian telecommunications sector, which has an investment value of over $70 billion and contributing 10.5 per cent to Nigeria’s gross domestic product (GDP) is a clear reflection of its huge contribution to Nigeria’s economy, driven by standard regulation.(Source:Thisday)


AIICO Launches Agriculture Insurance to Boost Economy: AIICO Insurance Plc Wednesday launched AIICO Agriculture insurance as part of its contributions to the growth of agricultural sector and boost economic development.(Source:Thisday)

Nigeria Airways: FG to commence N22.6bn staff entitlement from Monday: Federal government is to commence payment of entitlement worth N22.6billion to all former staff of the defunct national carrier, Nigeria Airways, from Monday next week.(Source:Vanguard)


20 SMEs get Life Progress Booster’s N6m grant: Twenty Small and Medium Enterprises (SMEs) have received N6million boost from Life Continental Lager Beer development initiative tagged, Life Progress Booster.(Source:Vanguard)


GEEP: FG disburses N15.2bn loans to 300,000 beneficiaries: The federal government has disbursed N15.183 billion interest-free loans to over 300,000 beneficiaries across the country under the Government Empowerment and Enterprise Programme (GEEP).(Source:Vanguard)

Nigeria's Amcon Says Some Local Airlines May Collapse Over Debt: Some Nigerian airlines are facing the risk of collapse under the weight of huge debts, according to the country’s Asset Management Corporation of Nigeria, set up to rescue banks from bad loans.(Source:Bloomberg)

Reporting for EasyKobo on Thursday ,  11 October 2018 in Lagos, Nigeria

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