Top Financial News   

28 November 2018


Debt: FG cuts Treasury bills issuance by N1.27tn: As part of efforts to manage its debt profile, the Federal Government reduced the total Nigerian Treasury bills issued and allotted by N1.27bn in June this year to N1.65tn from N2.92tn in the same period of 2017, according to figures obtained from the Central Bank of Nigeria.(Source:Punch)


Domestic gas consumption to reach 500,000 metric tonnes –Petroleum Ministry: Domestic gas consumption in Nigeria has witnessed a recent increase  from 390,000 to 490,000 metric tons with a potential of hitting 500,000 milestone in the near future.(Source:Punch)


Tax tribunal begins hearing of 209 cases worth over N205bn: The newly inaugurated Tax Appeal Tribunal on Tuesday began its sitting on tax related cases with a warning that it would not tolerate any delay tactics during adjudication of tax disputes.(Source:Punch)


Investors snub oil, bank stocks, others: Investors in the equities market have turned to insurance stocks as they snubbed those of oil, banks, consumer goods and industrial sector on Tuesday.(Source:Punch)


Senate to FG : Suspend Planned 500% Increase in Tariff on Alcoholic Beverages: The Senate yesterday directed the federal government to suspend the implementation of the proposed 500 per cent hike in excise tariff on alcoholic beverages and tobacco products.(Source:Thisday)

Orjiako Realises N710m from Sale of Shares in Seplat: The Chairman of Seplat Petroleum Development Company Plc, Dr. A.B.C Orjiako,   has  sold  1.2 million ordinary shares  of his holdings in the company between October10 and November 1, 2018.(Source:Thisday)


Fitch Upgrades UBA to ‘B+,’ Stable Outlook: Fitch ratings has upgraded United Bank for Africa Plc Long Term Issuer Default Rating (IDR) to ‘B+’, with stable outlook.(Source:Thisday)

Makers of alcoholic drinks raise stakes with sachet packaging:  Producers of alcoholic drinks are increasingly adopting sachet packaging to deepen market share for their products.(Source:Vanguard)

FG earns N10.5bn from FGN Savings Bond in 18 months: The Federal Government has raised about N10.5 billion from the Savings Bond in the nation’s capital market since it was floated in March 2017.(Source:Vanguard)


States IGR rises 28% in H1’18: The Internally Generated Revenue (IGR)   of the 36 states in Nigeria rose by 28 percent or N127 billion to N579.49 billion in the first half of 2018 (H1’18) from N453 billion generated in H1’17.(Source:Vanguard)

Stock Exchange lifts suspension on Great Nigeria Insurance: The Nigerian Stock Exchange (NSE) on Monday lifted suspension on trading in the shares of Great Nigeria Insurance (GNI) Plc, after the insurance company submitted its relevant financial statements to the Exchange.(Source:The Nation)


CBN injects $210m into wholesale forex segment, others: The Central Bank of Nigeria (CBN) yesterday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.(Source:The Nation)


NCC, telcos disagree on SIM swap fraud: The Nigerian Communications Commission (NCC) yesterday in Lagos, faulted attempt by the telcos in the country to absolve themselves of complicity in ongoing subscriber identity module (SIM) swap fraud.(Source:The Nation)

Nigeria awards mining exploration contract to 10 mining, consulting firms: Nigeria has awarded a mining contract to ten exploration and consulting companies as part of the country’s efforts to develop the sector, the mining and steel development minister said on Tuesday.(Source:Reuters)

Nigeria LNG offers December cargo - sources: Nigeria Liquefied Natural Gas (NLNG) has offered a cargo for loading in December, three industry sources said on Tuesday.(Source:Reuters)

Reporting for EasyKobo on Wednesday , 28 November 2018 in Lagos, Nigeria

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