Top Financial News   

03 December 2018 

Nigeria’s inflation rate will rise to 11.4%, says CBN: Nigeria’s inflation rate is expected to rise to about 11.4 per cent for the rest of this year till mid-2019, the Central Bank of Nigeria has said.(Source:Punch)


Subsidy debts: Oil marketers give FG 7-day ultimatum: Oil marketers have issued a seven-day ultimatum to the Federal Government for the payment of all outstanding subsidy debts, including foreign exchange differentials and interest rate component, owed to them.(Source:Punch)


Privatisation: Discos fail to deliver five years after – FG: Five years after the privatisation of Nigeria’s power sector, electricity distribution companies have still not met their various performance agreements, the Federal Government has said.(Source:Punch)


Lafarge Africa expends N168m on community projects in Ogun: The Country’s  Chief Executive Officer,   Lafarge Africa,  Michel Puchercos, has disclosed that the firm had spent  N168 million on various community projects, cutting across education, health care delivery, economic empowerment, agricultural production and elderly care support programmes in Ogun State.(Source:Punch)


Nigeria cut food imports, saved $21bn in 34 months — Emefiele: The Central Bank Governor, Godwin Emefiele, has said that Nigeria’s monthly food import bill fell from $665.4m in January 2015 to $160.4m as of October 2018.(Source:Punch)


Annual domestic debt servicing goes up by N247bn: The Federal Government spent N247.46bn more in servicing the domestic component of its public debt in 2017 than it spent in 2016, investigation has shown.(Source:Punch)


NAICOM to extend bancassurance to microfinance banks: As part of efforts to increase insurance coverage, the National Insurance Commission and insurance companies are planning to extend the bancassurance strategy to the microfinance banks.(Source:Punch)

Nigeria’s Manufacturing Index Rises Further in November: The Central Bank of Nigeria’s (CBN) Manufacturing Purchasing Managers’ Index (PMI) stood at 57.9 index points in November, indicating an expansion in the manufacturing sector for the 20th month.(Source:Thisday)

Electronic Initial Public Offerings to Commence in Nigeria in 2019: The nation’s capital market will begin to witness the issuance of electronic initial public offering from 2019.(Source:Thisday)


Dana Air Resumes Operations after NCAA Re-certification: One of Nigeria’s major carrier, Dana Air has announced that it would resume operations after concluding its recertification exercise conducted by the Nigerian Civil Aviation Authority (NCAA).(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)

Presidency, Finance Ministry delay Nigeria’s membership of ATI: The Presidency and the Federal Ministry of Finance are yet to sign the African Trade Insurance, ATI, treaty thus delaying the country’s membership of the regional body.(Source:Vanguard)


Divergent naira outlooks as CBN increases forex intervention to forestall depreciation: The foreign exchange market is enveloped with a cloud of uncertainty, with analysts offering divergent outlooks over direction of naira exchange rate this week, following last week’s sharp depreciation of the nation’s currency in the parallel market last week.(Source:Vanguard)


CBN injects $331.22m, CNY51.86m into retail secondary market: The Central Bank of Nigeria (CBN) has continued its intervention in the retail Secondary Market Intervention Sales (SMIS) by injecting a total of $331.22 million in that segment of the market, in addition to CNY51.86 million in the spot and short-tenored forwards segment.(Source:Daily Trust)

Reporting for EasyKobo on Monday , 03 December 2018 in Lagos, Nigeria

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