CBN’ll use BVN to blacklist loan defaulters –Emefiele
The Central Bank of Nigeria under the auspices of the Bankers’ Committee has concluded plans to use the Bank Verification Number of customers to blacklist loan defaulters from accessing further loans in the nation’s banking system.
FG reviewing non-performing privatised firms’ operations — BPE
The Bureau of Public Enterprises says it has started reviewing privatised public enterprises that have failed to live up to expectation.
577 firms bid for NNPC insurance renewal contract
The Nigerian National Petroleum Corporation on Sunday said it had opened 577 bids submitted by firms seeking to secure the insurance renewal contract for the corporation’s oil and non-oil assets.
Capital market operators seek single licence from CBN, SEC
Capital market operators on Sunday called on the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to grant them single dealing licence to access discount window.
FG plans N110bn bond auction this month
The Federal Government, through the Debt Management Office, is scheduled to hold the last bond auction for the year on December 13, 2017.
Discos installing substandard prepaid meters, says TCN
According to the Market Operator, a department in the TCN, many substandard meters are being given out by Discos to electricity consumers, a development that will attract sanctions if not stopped.
FG Earned $7bn from Addax Petroleum Since 2009, Says Oil Firm
Addax Petroleum Development (Nigeria) Limited, which operates Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC) PSC has produced 425 million barrels of crude oil and generated over $7 billion in revenue to the Nigerian government since 2009 when SINOPEC took over the company.
Flour Mills Applies to Raise N40 Billion via Rights Issue
Flour Mills of Nigeria Plc (FMN) has applied to the Nigerian Stock Exchange (NSE) to raise about N39.856 billion from the existing shareholders.
Equities Market Sustains Rally on Strong Investor Sentiment
The bulls remained in control of the equities market as the market recorded its third consecutive gain on sustained strong investors’ sentiments.
FX Window Records $1.11bn Transactions in One Week
The level of activities on the Investors and Exporters (I&E) foreign exchange (FX) window strengthened to $1.110 billion in just one week, compared with the $759.2 billion recorded the preceding week.
CBN Mulls Reducing CRR for SME-friendly Banks
As part of efforts to encourage commercial banks to lend more to operators of micro, small and medium scale enterprises (MSMEs), the Central Bank of Nigeria (CBN) is considering lowering the cash reserve requirement (CRR) for SME-focused banks.
Banks Urged to Enhance Private Sector Credit
The President of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola has advised commercial banks in the country to increase credit to the private sector to grow the economy.
Forex market gets $514m boost ahead of Yuletide
The Central Bank of Nigeria (CBN) ended foreign exchange (forex) market transactions for the week with $303.9 million, as it earlier in the week, sold $210 million to sustain liquidity.
Probe reveals N30b oil revenue ‘hidden’ by NNPC
Full disclosure in the administration of crude sales remains an issue at the Nigerian National Petroleum Corporation (NNPC) despite current efforts at enthroning transparency in the conduct of government business.
Senate urges caution on review of privatised firms
The Senate has advised the Federal Government to exercise caution in the review of privatised enterprises by the past governments so as not to scare away foreign investors from the country.
Nigerian capital market issuances hit N1.55trn in September – SEC
The Securities and Exchange Commission (SEC) on Sunday said that the total value of issuances in the Nigerian capital market amounted to N1.55 trillion in September.
Forex restriction on 41 items good for economy, says CBN
The Central Bank of Nigeria (CBN) has said that restriction of access to foreign exchange (forex) on the 41 items has had a positive impact on the economy.
CBN unveils new measures to create jobs
Central Bank of Nigeria (CBN) has unveiled two-policy measures designed to accelerate the growth of the nation’s Gross Domestic Product (GDP), boost non-oil export revenue and facilitate job creation.
Nigerian finance minister says gave no order to halt Oando inquiry
Nigeria’s finance ministry has not interfered in an inquiry by the country’s market regulator into oil company Oando, the finance minister, who last week suspended the Securities and Exchange Commission’s head, said.
Helios, others bid for Nigerian telecoms firm 9mobile
Private equity firm Helios Investment Partners has submitted a bid to acquire Nigeria’s 9mobile under a sale process aimed at finding new investors for the debt-laden telecoms firm.