Top Financial News   

23 November 2018

 

2019 elections: CBN to monitor banks’ lending to politicians: The Central Bank of Nigeria on Thursday said it would monitor the rate at which banks provide loans to politicians to finance their campaign spending ahead of the 2019 general elections.(Source:Punch)

 

$3.12bn NLNG dividends: Senate asks CBN, NNPC to submit details of withdrawals: The Senate Committee on Gas has directed the Nigerian National Petroleum Corporation and the Central Bank of Nigeria to submit within one week, the schedules of the 45 withdrawals made from the account of the Nigeria Liquefied Natural Gas from 1999 till date.(Source:Punch)

 

FG to issue green bond in December: The Federal Government on Thursday announced that arrangements had been completed for the issuance of its second green bond in December 2018 to facilitate the funding of climate change projects across the country.(Source:Punch)

 

ICT sector attracted $8bn FDI in 3 years — Minister: Foreign Direct Investment in Information Communication Technology sector increased from $32bn in 2015 to $40bn in 2018, Minister of Communications, Mr Adebayo Shittu, has said.(Source:Punch)

 

Telecom operators worried by right of ways: Telecommunications companies that have been licensed to deploy metropolitan optics all over the country have raised concerns over high cost of Right of Way as well as vandalism of fibre optic cables.(Source:Punch)

 

Continuous postponement of Ogoni clean-up dangerous –CSOs: The continuous postponement of the proposed clean -up exercise of Ogoniland in the Niger Delta region may lead to problems for Nigeria in the near future, civil society organisations declared on Thursday.(Source:Punch)

 

NDIC: Mgt, directors of failed Skye Bank under probe: The Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) are monitoring the investigations of law enforcement agencies instituted against the directors and management of the failed Skye Bank Plc to determine their culpability in the failure of the bank.(Source:The Nation)


JP Morgan cuts oil price outlook: JP Morgan yesterday revised its outlook on Brent crude to $73 per barrel on average. The bank’s earlier forecast was for an average Brent crude price of $83.50 a barrel. It said increase in supply in North America that will occur in the second half of 2019 and will eventually pressure prices even lower in 2020, to an average $64.(Source:The Nation)

 

$8.1b: CBN, MTN on verge of striking deal: The Central Bank of Nigeria (CBN is on the verge of an agreement over a $8.1 billion dispute with South African telecoms giant MTN, its governor Godwin Emefiele said yesterday, declining to provide further details.(Source:The Nation)

 

Fed Govt mulls two additional satellites: The Federal Government is set to establish two additional satellites to support the Nigeria Communication Satellite  System (NigComSat) to complement the existing NigComSat.(Source:The Nation)

 

70% of workers in Nigeria, sub-Saharan Africa in vulnerable employment: About 70 per cent of workers in sub-Saharan Africa, including Nigeria, are in vulnerable employment, compared to a global average of 46 per cent.(Source:The Nation)


Why we retained tight monetary policy — CBN: The Central Bank of Nigeria, CBN, has said that the despite pressures to loosen its monetary policy stance the Monetary Policy Committee, MPC, decided to retain the tightening measures in view of its success so far and threats surrounding expansionary measures.(Source:Vanguard)


Senate expresses concerns over new minimum capital for MFBs: The Senate Committee on Banking, Insurance and Other Financial Institutions has expressed concern over the decision of the Central Bank of Nigeria (CBN)    to increase the minimum capital base of microfinance banks.(Source:Vanguard)


Flour Mills, CHI Plc Lead Gainers as Stock Market Records Marginal Growth: Flour Mills of Nigeria Plc and Consolidated Hallmark Insurance (CHI) Plc led the price gainers yesterday at the stock market as the Nigerian Stock Exchange All Share Index (NSE ASI) appreciated marginally by 0.05 per cent to close at 31,984.60 , compared with the depreciation of 0.78 per cent recorded the previous day. In all, 16 stocks appreciated compared with 13 stocks that declined.(Source:Thisday)

 

NCS Seme Command Rakes in N1.9bn in Two Months: The Nigeria Customs Service (NSE), Seme Area Command has announced improved revenue generation over the last two months, raking in N1.948 billion and several seizures during the period.(Source:Thisday)


W. Africa Crude-Nigerian export programmes trickle out; Angolan supply to drop: Spot trade in the West African market remained fairly sluggish on Thursday, as buyers waited for the bulk of the Nigerian export plan for January to emerge, while loadings in Angola are set to fall for a second month in a row that month.(Source:Reuters)


Reporting for EasyKobo on Friday , 23 November 2018 in Lagos, Nigeria


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