Naira depreciates to 365/dollar despite CBN interventions

The naira depreciated marginally by 0.55 per cent at the parallel market week-on-week to close at N365 on Friday.

Banks borrow N671bn from CBN in five days

Deposit Money Banks in the country borrowed the sum of N671.47bn from the Central Bank of Nigeria in the past five working days, data from the CBN have revealed.

Nigeria, others need commodity-price surge to avert debt crunch–IMF

The sub-Saharan Africa faces a potential debt crunch unless commodity prices improve and boost the pace of economic growth, the International Monetary Fund has said.

Fuel queues return to Lagos, persist in Abuja, others …as oil workers begin strike today

The lingering petrol scarcity in many parts of the country grew worse on Sunday in Lagos, Abuja, Nasarawa, Kaduna and Niger states as many filling stations were shut.

NSE weekly equities’ turnover hits N51.5bn

A total turnover of 1.852 billion shares worth N51.523bn in 23,863 deals, were traded last week by investors on the floor of the Nigerian Stock Exchange.

$2.8bn pipeline contract will change Nigeria’s energy landscape – Presidency

The Presidency on Sunday said the nation’s energy landscape was set for a major change with the award of a $2,809,522,548.36 gas pipeline contract approved by the Federal Executive Council as proposed by the Ministry of Petroleum Resources.

This Day

Dangote Accuses BUA of Stealing and Illegally Mining Limestone

The management of Dangote Group has accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease No. 2541 located in a boundary town of Oguda/Ubo in Okene, Kogi State.

Banking Industry Fraud Drops by 38% in Two Years

The Central Bank of Nigeria (CBN) at the weekend disclosed that despite the increase in the value and volume of electronic payment transactions this year, there have been decline in fraud cases.

DMO to List Green Bond for Easy Trading and Liquidity

Investors staking their funds in the Federal Government maiden N10.69 billion Green Bond have been assured of liquidity as the Debt Management Office (DMO) said the bond would be listed on the Nigerian Stock Exchange (NSE) and FMDQ OTC Securities Exchange.

Guardian

Multiplicity of taxes discourages investments, says Adeosun

The Minister of Finance, Kemi Adeosun has stressed the need for salary earners operating other businesses to also pay tax from their profits in order to help grow the economy.

No intentions to undermine SEC’s authority, Oando insists

In response to the decision by the Securities and Exchange Commission (SEC) to commence a forensic audit into the affairs of the company, Oando Plc has reiterated that its management has not taken any action to undermine the authority of the Commission.

The Nation

NSE places 44 companies on red alert

The Nigerian Stock Exchange (NSE) authorities have placed 44 companies on red alert, raising a caution to investors to beware of underlying corporate governance abuse.

Lafarge Africa closes application for N132b rights issue

Lafarge Africa Plc at the weekend closed application list for its N131.65 billion rights issue, rounding off the subscription to its major capital raising aimed at deleveraging its balance sheet and rebuilding a more supportive capital base.

Reuters

Nigerian oil union calls for strike after talks hit deadlock

A major Nigerian oil union said on Saturday it would launch a strike from Monday after talks aimed at resolving a dispute with domestic oil and gas companies reached a deadlock.