Exit from recession still fragile, says CBN
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday said the 0.55 per cent Gross Domestic Product growth rate, which took the economy out of recession, was still fragile.
Banks, pension managers, others stake N105bn on sukuk bond
The Islamic sukuk bond recently issued by the Federal Government was oversubscribed by more than N5bn, the Debt Management Office said on Tuesday.
N336bn released for capital projects in first quarter – Adeosun
The Federal Government has said it has released a total sum of N336bn for the implementation of capital projects contained in the 2017 budget.
NSE Index Falls Further Despite 164% Rise in Trading Value
The Nigerian equities market recorded a mixed performance on Tuesday, as the Nigerian Stock Exchange (NSE) All-Share Index(ASI) fell further while value and volume of trading surged by 164.8 per cent.
10 Banks Facilitate N55.6tn Investments on FMDQ OTC Exchange
Access Bank Plc, Stanbic IBTC Bank Limited, Ecobank Nigeria Limited and United Bank for Africa (UBA) Plc, led the banks that facilitated highest trading value on the FMDQ OTC Securities Exchange between January and July 2017.
Statoil plans $10b investment for Nnwa-Doro, Agbami offshore fields
Statoil has unveiled plans to increase its investment in Nigeria with more than $10 billion, having set a goal to satisfy the country’s growing population’s demand for increased energy with natural gas.
Government justifies N701bn power sector’s payment assurance guarantee
The Minister of Power, Works and Housing, Babatunde Fashola has said that the N701billion-payment assurance guarantee Power Sector Recovery Programme (PSRP), is consistent with Section 76(2)(b) of the Law, which seeks to ensure that producers of power recovered their investment and some profit.
SEC, Oando get 14-day ultimatum to resolve alleged N799b shareholders’ liabilities
The House of Representatives Committee on Capital Market and other Institutions has issued the Securities and Exchange Commission (SEC) and Oando Plc a two-week ultimatum to resolve all lingering issues bordering on the N799 billion stakeholders’ liabilities.
Deductions take toll on 11 states’ FAAC allocation
The National Bureau of Statistics (NBS) has said 11 states lost a huge part of their August 2017 allocation to deductions.
NCC: telecoms sector investments hit $70b
The Nigerian Communications Commission (NCC) yesterday said total investments attracted by the telecoms sector to the country have reached $70billion.
Guinea Insurance plans N1b new capital raising
The board of Guinea Insurance Plc has approved a new capital raising of N1 billion as part of efforts to boost the operations and capital adequacy of the insurance company.
Nigeria asks Senate to amend law for govt to settle 2.7 trillion naira debt: Nigeria’s government has asked parliament to amend its spending law to enable a debt program to settle 2.7 trillion naira ($8.6 bln) worth of obligations including pensions and salary arrears, according to a letter from Vice President Yemi Osinbajo.