Top Financial News   

13 November 2018

Diamond Bank denies talks about merger, acquisition: Diamond Bank Plc has said it is not in talks with any financial institution about merger and acquisition.(Source:Punch)


20 firms risk delisting from stock market: Twenty companies listed on the Nigerian Stock Exchange risk being delisted, our correspondent has learnt.(Source:Punch)


Power generation falls below 4,000MW as Discos reject load: Total electricity generation in the country has remained below 4,000 megawatts in recent months as low load demand by distribution companies tops the list of factors causing idle capacity in power stations.(Source:Punch)


Actis, Westmont joint venture acquires Four Points by Sheraton: A joint venture between investment firm, Actis and Westmont Hospitality Group, has acquired the 231-room Four Points by Sheraton in Victoria Island, Lagos.(Source:Punch)


E-payment reduces currency outside bank — CBN: The preference for electronics payment above cash is further driving down the currency outside the banks, data from the Central Bank of Nigeria has shown.(Source:Punch)


FG borrowed over N2tn to fund 2017 budget – DMO: The Federal Government borrowed a total of N2.32tn in 2017 to fund deficit in the budget, the Debt Management Office has said.(Source:Punch)

Management, Directors of Defunct Skye Bank Under Investigation, NDIC Insists: The Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) are monitoring the investigations the law enforcement agencies instituted against the directors and management of the defunct Skye Bank Plc determine their culpability in the failure of the financial institution.(Source:Thisday)


NERC: Gas Shortage Contributed 74% of Power Sector Limitations: The Nigerian Electricity Regulatory Commission (NERC) has disclosed that a larger part of the constraints experienced in the country’s electricity sector in the first quarter (Q1) of 2018, was contributed by shortage of gas to power generation companies (Gencos).(Source:Thisday)


Senate Proposes Bill on Energy Theft, Vandalism: Worried by incessant power challenges in the country caused partly by stealing energy and vandalisation of electricity facilities by disgruntled members of the public, the Senate Committee on Power, Steel Development and Metallurgy has disclosed its plan to harmonise all laws in the country dealing with energy theft and vandalism into single bill.(Source:Thisday)


Low capacity forces multinationals, high networth individuals to double-insure: Multinationals and high networth individuals are now engaging in double insurance by insuring same asset locally as well as offshore due to inadequate capacity of Nigerian insurance industry.(Source:Vanguard)


Nigeria’s average electricity tariff drops by 48% in 4 yrs: Nigeria’s average electricity tariff drops by 48 percent in four years to 8.10 cent per kilowatts hours, kWh, from 15.67 per cent recorded in 2014.(Source:Vanguard)


Teleology finally takes over 9mobile, appoints new directors: After about eight months when it made the initial $50 million nonrefundable deposit to acquire 9mobile, Teleology holdings has been given final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to own the telecommunications company.(Source:Vanguard)


SAHCO renews handling contract with Arik Air: Skyway Aviation Handling Company Public Liability Company (SAHCO) has renewed its ground handling contract with Arik Air.(Source:The Nation)

Reporting for EasyKobo on Tuesday , 13 November 2018 in Lagos, Nigeria

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