Top Financial News   

28 March 2019

FG, states, LGs share N619bn: The Federation Accounts Allocation Committee on Wednesday distributed the sum of N619.85bn to the three tiers of government.(Source:Punch)


Investors oversubscribe March FGN Bonds by N140bn: The Debt Management Office on Wednesday said that FGN Bonds offered to investors for the month of March was oversubscribed by N140bn.(Source:Punch)


Electricity: TCN, Discos bicker over request to break monopoly: Different stakeholders in the Nigerian electricity industry on Wednesday bickered over request presented to the Nigerian Electricity Regulatory Commission by the Transmission Company of Nigeria to end the era of monopoly of electricity distribution by Distribution Companies.(Source:Punch)


Travelex, ABCON partner to access $20bn diaspora remittances: Travelex Nigeria and the Association of Bureaux De Change Operators of Nigeria have agreed to enter into strategic partnership that will enable the Bureaux de Change access over $20bn annual diaspora remittances into Nigeria.(Source:Punch)


Nigeria’s Manufacturing Index Expands Further: The Manufacturing Purchasing Managers’ Index (PMI) sustained its upswing in March as it increased to 57.4 index points.(Source:Thisday)


CBN to Reintroduce Cashless Policy Nationwide, Says Emefiele: The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has unveiled plan to extend the cashless policy nationwide almost two years after the policy was halted.(Source:Thisday)


Crude Oil Price Drops by 1% over Excess US Inventories: Oil prices sank about one per cent Wednesday after a United States government data showed that the country’s crude stocks unexpectedly rose last week as exports slowed due to a chemical spill at the country’s busiest energy port.(Source:Thisday)

FG targets more borrowings to fund 2019 budget –Finance Minister: Minister of Finance, Mrs. Zainab Ahmed, yesterday, restated the Federal Government’s commitment to tap concessionary long-term loans to finance its 2019 budget in addition to borrowing at home.(Source:The Sun)


FEC approves N4.26bn contracts:  The Federal Executive Council (FEC) presided over by President Muhammadu Buhari has approved contracts worth N4.26 billion, which cuts across petroleum, investment programme and information gadgets.(Source:The Sun)


IFC to work with Africa RE to develop Nigerian farmers insurance market: International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with Africa RE, a pan-African reinsurance company, to help small holder Nigerian farmers have easy access to insurance to protect their crops and livelihoods. (Source:The Sun)


NAICOM issues IFRS 9 guideline: The National Insurance Commission (NAICOM) has issued guideline for the implementation of International Financial Reporting Standards (IFRS) 9. This follows its adoption by both the regulator and operators.(Source:The Nation)

FAAN seeks N101b in 2019 budget: The Federal Aviation Authority of Nigeria (FAAN) is proposing a budget of  N101,673,038,972  for 2019 fiscal year.(Source:The Nation)

U.S. trade deficit shrinks on strong soybean, auto exports: The U.S. trade deficit narrowed by the most in 10 months in January as automotive exports rose and China likely boosted purchases of soybeans, driving the first increase in exports in four months and offering a respite to a flood of dour data on the economy.(Source:Reuters)


China makes unprecedented proposals on tech, trade talks progress - U.S. officials: China has made unprecedented proposals in talks with the United States on a range of issues including forced technology transfer as the two sides work to overcome remaining obstacles to a deal to end their protracted trade war, U.S. officials told Reuters on Wednesday.(Source:Reuters)

Reporting for EasyKobo on Tuesday , 26 March 2019 in Lagos, Nigeria

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