| Punch
Dangote Cement, Dangote Sugar, Ecobank top equity losers’ chart The Nigerian stock market continued in losses on Tuesday after Dangote Cement Plc, Dangote Sugar Refinery Plc and Ecobank Transnational Incorporated Plc recorded major losses in their share prices. Average T-bills yield closes higher at 14.57% The secondary market for Treasury bills was bearish for the second successive day of trading this week as the average yield closed higher at 14.57 per cent, gaining 1.13 per cent. NCC, CBN seek to curb financial frauds The Nigerian Communications Commission and the Central Bank of Nigeria are to sign a Memorandum of Understanding to curb the use of telecommunications networks to defraud bank customers. FBN Holdings renames merchant banking, asset management businesses FBN Holdings Plc has announced the renaming of all entities under its merchant banking and asset management group. Lafarge disagrees with workers over expatriate dominance The management of Lafarge Africa Plc has disagreed with some of the workers over the alleged dominance of expatriates in the Mfamosing plant of the cement manufacturer in Cross River State. This Day IMF: Fed Tightening May Squeeze Portfolio Flows to Nigeria, Others A key question facing global investors today is what impact the US Federal Reserve’s monetary policy normalisation process will have on capital flows to emerging markets and other economies such as Nigeria that had enjoyed huge flows in recent times, a report by the International Monetary Fund (IMF) has stated. Transactions on FMDQ OTC Exchange Rise to N130tn in 11 Months Transactions in the fixed income and currency markets rose by 21.9 per cent to hit N14.85 trillion in November from N12.18 trillion in October. Militancy, Political Uncertainty Seen as Key Risks for Nigeria, Others Following Nigeria’s exit from recession in 2017, investor sentiment across West Africa is likely to experience uplift in 2018, a report has stated. Oando Shareholders Insist on Forensic Audit Shareholders under the aegis of the Oando Shareholders Solidarity Group (OSSG) have picked holes in recent claims by the management of the company that it dragged the Securities and Exchange Commission (SEC) to court to protect shareholders’ interest. Punch NSE adds Sterling Bank, Skye Bank, others to most influential stocks’ groups THE Nigerian Stock Exchange (NSE) is expected to move Sterling Bank Plc, Diamond Bank and three other stocks to the top index of 30 most capitalised stocks in the forthcoming review of the stock market’s indices. Senate panel seeks liquidation of NNPC The Senate committee on Finance yesterday recommended the liquidation of state-run oil firm, the Nigeria National Petroleum Corporation (NNPC) over huge funds unaccounted for. PFAs pay N4b to 12,464 disengaged workers from pension contributions A bout N4billion were disbursed to 12,464 workers, who lost their jobs across the country, from their pensions contributions in the third quarter of 2016. The money was paid to them by their various Pension Fund Administrators (PFAs). Reuters Benin withdraws telecoms licence for Globacom unit in renewal dispute Benin’s telecommunications regulator has withdrawn the operating licence of Nigerian mobile telecoms company Globacom’s local unit in a dispute over new terms, according to a document seen on Tuesday. Bloomberg Nigeria’s Buhari Says He’ll Punish Corruption in Spy Agency Nigerian President Muhammadu Buhari pledged to penalize officials involved in diverting more than $43 million cash belonging to the country’s spy agency to a private residence in the city of Lagos. |
