Top Financial News   

02 November 2018

CBN fixes N5bn capital base for Payment Service Banks: The Central Bank of Nigeria has stipulated N5bn minimum capital requirement for the Payment Service Banks in the country.(Source:Punch)


MTN issues frightened foreign investors — US, UK envoys: The envoys of the United Kingdom and the United States of America in Nigeria have said that the problems being faced by leading telecommunications giant, MTN, have scared investors from both countries from Nigeria, resulting in some of them pulling back and others withdrawing fresh offers and taking them to neighboring countries.(Source:Punch)


FG seeks $550m for two communication satellites: The Federal Government is seeking investors, who have the capacity to put down $550m for the acquisition of two new communication satellites for use by the Nigerian Communications Satellite Limited.(Source:Punch)


NSE suspends trading in Unity Bank, five others’ shares: The Nigerian Stock Exchange has suspended trading in the shares of Unity Bank Plc and five other listed companies.(Source:Punch)


DPR to suspend marketers over hoarding, fuel diversion: As part of moves to curb fuel scarcity during the Yuletide, the Department of Petroleum Resources says it will suspend errant marketers for six months if they hoard Premium Motor Spirit, popularly known as petrol, and other products during the period.(Source:Punch)

NNPC Shores up Fuel Supply with BP Oil Deal: The Nigerian National Petroleum Corporation (NNPC) Thursday said it had signed a six-month crude-for-product deal with BP Oil International Ltd, to supply Nigeria petrol ahead of the upcoming Yuletide and 2019 general elections.(Source:Thisday)


Banks Lose N12.06bn to Fraud in Six Months, Says CBN: The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion to fraud and forgeries in the first six months of 2018.(Source:Thisday)


Atiku Will Crash Petrol Price, PDP Assures Nigerians: The People’s Democratic Party (PDP) has assured Nigerians that its presidential candidate, Alhaji Atiku Abubakar, has worked out a pricing template that would immediately crash the pump price of petrol in the country.(Source:Thisday)


3 banks fail CBN’s liquidity ratio requirement: Three banks failed to meet the 30 percent liquidity ratio requirement of the Central Bank of Nigeria, CBN, even as investigations revealed prevalence of major foreign exchange malpractices in the banking industry.(Source:Vanguard)


NNPC, BP sign 6-month crude-for-product swap: The Nigerian National Petroleum Corporation, NNPC, yesterday, said it has signed a six-month crude-for-product swap agreement otherwise known as Direct Sale-Direct Purchase (DSDP) with BP Oil International Limited, the trading arm of British Petroleum (BP), for the supply of Premium Motor Spirit (PMS) also known as petrol.(Source:Vanguard)

Reporting for EasyKobo on Friday , 02 November 2018 in Lagos, Nigeria

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