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This Day

NNPC Massively Stockpiles PMS to Sustain Price Crash

A daily record of operations of the Nigerian National Petroleum Corporation (NNPC) has disclosed the corporation’s plans to sustain the petrol pump price crash it started last week with a healthy build-up of stocks.

FG, IOCs Finalise Evaluation of Bids for $13.5bn Zabazaba Deepwater Project

The federal government, Nigerian Agip Exploration Limited (NAE) and Shell Petroleum Exploration and Production Company (SNEPCo) have completed the technical and commercial evaluation of bids for the main packages in the development of the $13.5 billion Zabazaba deepwater oil field in Oil Prospecting Lease (OPL) 245 within 14 months.

FG August N135 Billion Bond Fails with 41.5% Subscription

The federal government’s N135 billion bonds issued by the Debt Management Office in August was 41.5 per cent subscribed as the agency could only raise N56.05 billion from the auction.

CBN Pledges to Sustain Intervention in Forex Market

The Central Bank of Nigeria (CBN) at the weekend assured members of the public of its continued intervention in the interbank foreign exchange market in order to sustain liquidity and stability in the sector.

CBN Enforces Migration of Banks to Electronic Capital Importation Certificate

Desirous of enhancing foreign investment flow into the country, the Central Bank of Nigeria (CBN) has directed banks and other authorised dealers to immediately commence the issuance of electronic Certificates of Capital Importation (eCCI) with effect from today.

Kaduna Electric Dismisses Load Rejection Claim

Kaduna Electric has described as “factually incorrect”, the recent media report attributed to the Transmission Company of Nigeria (TCN) that it was rejecting power allocated to it for distribution to its customers.


Financial stocks lift NSE’s turnover by N17.5bn

Heavy transactions in the shares of some banks last week, lifted the volume of shares traded, as a turnover of 887.024 million shares worth N17.450billion was recorded in 16,955 deals by investors on the Exchange.

Poor electricity supply may persist as Discos reject 1000mw daily

It may take a longer time for the country to overcome its electricity supply challenges as the distribution companies (Discos) reject generated energy from power plants.

Fresh pressure on Nigeria over oil production cut as OPEC meets

The pressure on Nigeria to reduce its crude oil production figure of 1.8 million per day is expected to increase as the Organisation of Petroleum Exporting Countries (OPEC) meets on Friday, September 22, 2017 in Vienna, Austria.

Stockbrokers canvass easier access to ASeM Board for SMEs

Capital market stakeholders have urged regulators to make the listing requirements for accessing the Alternative Securities Market (ASeM) less stringent to attract more small and medium enterprises (SMEs) participation on the platform, and grow the primary market segment of the Nigerian Stock Exchange (NSE).


FG, states borrow N7.51tn under Buhari

The Federal Government under President Muhammadu Buhari and the 36 states of the federation as well as the Federal Capital Territory have borrowed N7.51tn in the last two years, statistics have revealed.

Arik shareholders sue FG, Ethiopian Airlines for N20bn

Shareholders of Arik Air Limited have filed a N20bn suit against the Federal Government and Ethiopian Airlines over recent claims of negotiations between them for the takeover of the airline.

N4.75tn pension funds invested in FG bonds, securities

About N4.75tn of the total funds under the Contributory Pension Scheme has been invested in the Federal Government’s securities.


CBN to step up liquidity mop up as N333bn hit interbank

The Central Bank of Nigeria (CBN) will this week step up its liquidity mop-up in a bid to offset impact of N333 billion inflows into the interbank money market.

Stanbic IBTC attracts N413.62bn capital inflows in H1

Stanbic IBTC Plc facilitated $589.84 million, an equivalent of N216.47 billion, capital inflow into the country in the second quarter, Q2, 2017, ranking it first among financial institutions that imported capital into Nigeria.

The Nation

TCN gets $1b for expansion, others

The Transmission Company of Nigeria (TCN) has secured about $1 billion from multilateral donors, including the government of Japan, to expand and rehabilitate its facilities.

Ship import dips to N319b on forex scarcity

Importation of vessels to Nigeria has dropped from N774billion ($2.15billion) in the last two years to N319 billion ($885.9million) due to scarcity of foreign exchange (forex).


Venezuela oil minister says inventories still too high

Venezuelan oil minister Eulogio Del Pino on Friday said global oil inventories remain too high and called on OPEC and other producers to review their global output reduction pact in order to support the sector.

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