The nation’s external reserves have hit $34bn from $33.6bn attained on October 25, the Central Bank of Nigeria has stated.
The International Monetary Fund has advised the Federal Government to urgently revisit tax holidays and exemptions given to companies.
The Minister of Finance, Mrs. Kemi Adeosun, on Sunday said that the recoveries, which the Federal Government had made through the implementation of the whistle-blower policy, had exceeded its expectations.
Transmission Company of Nigeria says it has yet to access the power infrastructure expansion loans totaling $1.5bn from foreign creditors.
The Federal Government recorded a 49 per cent shortfall in non-oil revenue needed to finance the 2017 budget, figures obtained from the Budget Office of the Federation have revealed.
The Central Bank of Nigeria has injected $285.7m into the Inter-Bank Foreign Exchange Market to meet requests in four sectors of the economy.
The Central Bank of Nigeria (CBN) has reiterated its resolve to heavily sanction exporters that fail to repatriate their export proceeds within the stipulated days for oil and gas as well as for non-oil exports.
The Nigerian stock market remained bearish last week to close 0.34 per cent lower despite impressive nine months results by most companies and the decision of the MSCI to retain Nigeria indexes in the MSCI Frontier Markets.
Global oil supply rose 90,000 b/d in September to 97.5 mb/d as non-OPEC output edged higher with output standing at 620,000 b/d higher than last year.
Following the intense weakening of Nigeria’s macroeconomic environment, resulting in the deterioration of asset quality and rise in non-performing loans (NPLs) in the banking industry, the International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to consider asking the country’s lenders to recapitalize.
Nigerian Breweries posted revenue of N254.7 billion in 2017, up from N222.7 billion in the corresponding period of 2016.
The Association of Bureaux De Change Operators of Nigeria (ABCON), an umbrella body of Bureaux de Change (BDCs) operators is seeking the intervention of the Central Bank of Nigeria (CBN) over what it described as “burden” on operators in the form of charges for transactions by banks.
Stock market investors have expressed concern over the alleged N104million fraud levelled against the Director General (DG), Securities and Exchange Commission (SEC), Mounir Gwarzo, saying that such crisis would definitely have a multiplier effect on market.
Oil and gas logistics giant and port concessionaire, INTELS Nigeria Limited (INL), is in fresh trouble as the Oil and Gas Free Zones Authority (OGFZA) has ordered a comprehensive audit of a decade of its operations (2006-2016).
Union Bank of Nigeria (UBN) Plc will today close application for its N50 billion rights issue which was opened on September 20, 2017.
Quoted companies that have not submitted their operational reports and financial statements for the third quarter must submit their reports to the Nigerian Stock Exchange (NSE) before the close of work tomorrow in order to avoid poor corporate governance tag and sanctions that may range from N100,000 to about N100 million.
Guinness Nigeria Plc has secured additional N39.7 billion new equity funds from its existing shareholders as shareholders picked up the entire rights offered by the brewer.
The interbank money market will this week enjoy inflow of N214 billion which will reinforce the volume of idle cash (excess liquidity) in the market leading to further moderation in cost of funds.
Cumulative interest income from fixed income securities of nine Nigerian banks that have released third quarter (Q3) 2017 results spiked by 58.64 percent to N484.46 billion in the three months ended September 2017.
Fitch Ratings has affirmed Kaduna State’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B’ and National Long-Term Rating at ‘A+(nga)’.