Top Financial News   

17 October 2018


Inflation rate rises again, now 11.28%: The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation, with the rate rising from 11.23% in August to 11.28% in September 2018.(Source:Punch)

 

Row in Senate over $3.8bn subsidy payment probe: The Senate has begun a fresh investigation into the alleged illegal subsidy payment on Premium Motor Spirit (petrol) by the Nigerian National Petroleum Corporation.(Source:Punch)

 

Multinationals, others owe Nigerian media N8bn –Report: A new industry survey has revealed that over N8bn in unpaid fees by advertisers, many of whom are multinational companies, are currently hampering smooth operations of some media outfits and advertising agencies.(Source:Punch)

 

Insecurity threatens $14bn maritime sector earnings –FG:  The Federal Government has declared that the annual earnings of $6bn in freight cost and $8bn in oil and gas and other maritime activities have come under threat from pirate attacks, oil theft and other illegal activities militating against the growth of the sector.(Source:Punch)

 

Nigerian firms will construct $4.3bn NLNG Train 7 – NCDMB:  The engineering, procurement and construction of the planned $4.3bn Nigeria LNG Limited Train 7 plant will be done in-country by mostly indigenous companies, the Nigerian Content Development and Monitoring Board has said.(Source:Punch)

 

UBA’s gross earnings hit N375bn: United Bank for Africa Plc has announced its unaudited third-quarter financial results, with growth in gross earnings at N374.8bn, an 12.3 per cent increase when compared to N333.9bn recorded in the corresponding period of 2017.(Source:Punch)


CBN mandates DMBs, PSPs to investigate IT staff: The Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) and Payment Service Providers (PSPs) to conduct background checks on employees who implement, enforce and review their technical and physical security controls in order to tackle fraud perpetrated by bank staff.(Source:Vanguard)

 

Naira down to N364.33/$ in I&E window: The Naira, yesterday, depreciated to N364.33 per   dollar in the Investors and Exporters  (I&E) window even as the volume of dollars traded rose by 224 percent.(Source:Vanguard)


CBN Disburses N615bn to Farmers: The Central Bank of Nigeria (CBN) has disclosed that as at August 20 2018, the total amount released under the Commercial Agriculture Credit Scheme (CACS) to participating banks for disbursement since the inception of the scheme is N615.43 billion.(Source:Thisday)

 

NERC Moves against Abuse of Estimated Electricity Bills: The Nigerian Electricity Regulatory Commission (NERC) has disclosed it will stop the widespread abuse of its estimated electricity billing methodology by the 11 electricity distribution companies (Discos) in the country.(Source:Thisday)


FC targets $100tr for impact investing: The International Finance Corporation (IFC), a member of the World Bank Group, is working to make it easier for institutional investors who hold nearly $100 trillion in assets under management worldwide to enter the fast-growing impact investing market and contribute to achieving the Sustainable Development Goals by 2030.(Source:The Nation)


Reporting for EasyKobo on Wednesday ,17 October 2018 in Lagos, Nigeria


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