Top Financial News   

05 December 2018


States to get $700m for public finance management reforms: President Muhammadu Buhari on Tuesday said the Federal Government would release $700m to states to improve the level of governance and public finance management.(Source:Punch)

 

Over N244.8bn lost to breaches in Forcados pipeline – NNPC: The Nigerian National Petroleum Corporation said on Tuesday that over $800m (N244.8bn) had been lost to breaches in the Trans Forcados Pipeline, one of the nation’s key export routes, this year.(Source:Punch)

 

NCC suspends allocation of 5G frequency: The Nigerian Communications Commission has suspended the allocation of frequency spectrums that are likely to be approved by the International Telecommunications Union for 5G network services.(Source:Punch)

 

Nigeria loses $3bn annually to illegal trade in gemstones: Nigeria loses about $3bn annually to illegal export of gemstones, stakeholders in the mines and steel industry have said.(Source:Punch)


NNPC loses over $800m revenue to contract breaches:  The Nigerian National Petroleum Corporation  (NNPC) yesterday said it lost over $800million revenue to all the stakeholders owing to breaches of contracts of its old regime.(Source:The Nation)

 

Lafarge Africa to sell N89.21b rights issue at N12 per share: The board of Lafarge Africa Plc yesterday announced that the company will be raising N89.21 billion in new equity funds through a rights issue at N12 per share.(Source:The Nation)

 

$15,000 special Xmas intervention sale to BDCs begins tomorrow: The $15,000 weekly Yuletide special intervention foreign exchange (forex) sales to Bureau de Change (BDC) operators commences tomorrow, the Central Bank of Nigeria (CBN) has announced.(Source:The Nation)


Govt, Corporate Bodies Raise N4.9trn from Capital Market in Two Years: The federal government and corporate organisations raised about N4.978 trillion from the nation’s capital market in 2016 and 2017, according to data from the Securities and Exchange Commission (SEC).(Source:Thisday)

 

Fashola: Four Turbines at Kaduna Power Plant Ready: The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said four out of the eight turbines installed at the site of the 215 megawatts (MW) Kaduna power plant have been completed and ready to begin producing electricity to the national grid.(Source:Thisday)

 

PenCom Reiterates Plan to Establish Micro Pension Scheme: The National Pension Commission (PenCom) has restated that the micro pension scheme to cater for Nigerians in the informal sector will commence in the first quarter of 2019.(Source:Thisday)


Reporting for EasyKobo on Wednesday , 05 December 2018 in Lagos, Nigeria

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