Top Financial News   

19 November 2018

Oil marketers decry subsidy debt payment’s delay: The Major Oil Marketers Association of Nigeria and the Depot and Petroleum Products Marketers Association of Nigeria have decried the delay in the payment of outstanding subsidy debts owed by the Federal Government.(Source:Punch)


FG, states, LGs got over N6tn in nine months – FAAC: Revenue disbursements by the Federation Account Allocation Committee to the three tiers of the government hit N6.226tn in the third quarter of 2018.(Source:Punch)


Petrol subsidy rises as NNPC increases imports by 34%:  The nation imported a total of 15.21 million litres of petrol in the first nine months of this year, up from the 11.33 million litres imported in the same period in 2017.(Source:Punch)


Investors unveil new real estate firm, target first-time buyers: To help bridge the housing gap in the country, investors have unveiled a new real estate firm, known as Eximia Realty Company Limited.(Source:Punch)


FG in talks with Transnet for railway concession –Amaechi: Last week, GE said it was withdrawing from the railway concession in line with its strategy to exit the transportation business.(Source:Punch)


Moody’s Highlights Benefits, Risks in China Loans to Nigeria, Others: China’s increased lending to governments in Sub-Saharan Africa has the potential to support economic growth, but also amplifies credit risks for countries with already high debt burdens and deteriorating external positions, Moody’s Investors Service has said in its latest report.(Source:Thisday)


Insurance Sector Weakest Link in Nigerian Economy: The insurance sector has been described as the weakest link in the Nigerian economy because of the low capital base of operators.(Source:Thisday)

Stock market in Q1’18: Investors gain N1.38trn in 3month: Despite the bearish trend that prevailed in the equities market on the Nigerian Stock Exchange, NSE, for most part of March 2018, activities in the market ended the first quarter, Q1’18, on a bullish note, resulting in N1.38 trillion gains to the investors.(Source:Vanguard)

Africa  records 11.26 % increase in premium income: African Reinsurance Corporation said that in spite of the huge losses and catastrophe that hit the insurance sector in recent times, it recorded 11.65 percent increase (year-on-year) in its premium income for the  nine months financial period ended September of 2018 (9M’18).(Source:Vanguard)

MPC to maintain rates to sustain foreign portfolio inflows: As dollar inflow into I&E falls by 42% CBN defends naira in I&E with $4.35bn in 3 months.(Source:Vanguard)

Collective investment is safer mode to enter capital market — Emerging Africa Capital’s CEO: Mrs Tonyi Sanni, CEO, Emerging Africa Capital Group, who is also the president, Corporate and Individual Investment Advisers, spoke to Financial Vanguard on activities of the Collective Investment Scheme, CIS, and how to make it more viable and attractive to investors.(Source:Vanguard)

Investors dump Lafarge Africa’s shares on disappointing Q3 earnings: Shares of Lafarge Africa Plc fell by 28.6 percent in three weeks as equity investors continue to sell-off the shares following the release of a disappointing quarter three and nine month earning reports by the company.(Source:Vanguard)


FG, others shared N2.28tr in 3rd quarter of 2018 – NEITI Revenue disbursements by the Federation Account Allocation Committee (FAAC) to the three tiers of government have witnessed a steady increase in three consecutive quarters  of this year with N2.28 trillion shared  in the third quarter of 2018, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its Quarterly Review.(Source:Daily Trust)

The worst days are over – Unity Bank CEO: The Managing Director and Chief Executive Officer (MD/CEO) of Unity Bank, Oluwatomi Somefun, in this interview, talks about the struggles of the bank in the last three years and declares that, “It’s a new dawn for everyone at Unity Bank.(Source:Daily Trust)

Reporting for EasyKobo on Monday , 19 November 2018 in Lagos, Nigeria

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