Nigeria in 1min: Economic, Business and Financial Headlines – 140518


Monday, May 14, 2018 / 7:10 AM / Proshare News



What To Expect From The Markets This Week - 120518 - According to the recently published FMDQ bulletin, the total turnover of fixed income instrument in March 2018 stood at N6.74 trillion, reflective of a 7.4% increase in turnover when compared to the previous month. Source Proshare Read More 

Nigeria-China Trade: Having Banking Representative Offices in Beijing - The decision by the Central Bank of Nigeria (CBN) to execute a bilateral currency swap agreement with the Peoples Bank of China (PBoC) was long in coming. Source Proshare Read More 

A’Ibom, Delta, Rivers Get N143bn As States Share N593bn In Q1 - Akwa Ibom, Delta and Rivers States received the lion share of N143 billion, as 36 states of the federation withdrew about N593.1 billion from the Federation Account as revenue generated in the first quarter of 2018. Source Leadership Read More 

Port Operator Rakes In N14.3m From Access Cards System - Port and Terminal Multi Services Limited (PTML), may have generated N14.3million from the biometric access control cards for freight Forwarders and clearing agents operating in the terminal, LEADERSHIP investigation has shown. Source Leadership Read More 

N1.5tn spent on capital projects in 2017 – Adeosun - The Minister of Finance, Mrs. Kemi Adeosun, has said more than N1.5tn was spent on capital infrastructure in 2017. Source Punch Read More 

FG saves N128bn in bank charges through TSA - Since the introduction of the Treasury Single Account in September 2015, the Federal Government has saved a total of N128bn from charges imposed by banks for managing funds belonging to the Ministries, Departments and Agencies of the government. Source Punch Read More 

NCAA Suspends First Nation Airways’ Operations - The Nigerian Civil Aviation Authority (NCAA) has suspended the Air Operator’s Certificate (AOC) of First Nation Airways indefinitely. Source Thisday Read More 

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NSEASI Inches Up by 0.26% to Halt Downtrend; Records -0.48% Loss WoW - Equities market closed today on a positive note, as NSEASI appreciated by +0.26% to close at 41,022.31. basis points as against -0.40% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.27%. Source Proshare Read More 

Unilever Nigeria Plc Holds 93rd AGM; Declares N2.87bn Dividends - Unilever Nigeria Plc. has declared a dividend of N2.87bn following the approval by the company’s shareholders at the 93rdAnnual General Meeting of the Company held in Lagos today at the Muson Centre. Source Proshare Read More 

Corporate Earnings for the Week Ending 040518 – UBN Declares N5.29bn PAT in Q1 2018 Results - LINKASSURE and UBN 12% and 3% gains respectively while DIAMONDBNK that released its FY2017 and Q1 2017 financial statements today recorded 5% loss. Source Proshare Read More 

CBN sustains liquidity mop up as N330bn inflow hits interbank - THE aggressive liquidity mop up operations conducted by the Central Bank of Nigeria (CBN) last week is expected to persist this week as inflow of N330 billion boost interbank money market liquidity. Source Vanguard Read More 

Commercial Paper issuance hits N1trn on FMDQ reforms - Following an extended period marked by a dearth of activity, significantly weakened issuer interest and diminished investor confidence, the Nigerian Commercial Paper (CP) market is cranking back to life, as registered CP Programmes on the FMDQ OTC Securities Exchange platform have crossed N1 trillion. Source BUSINESS Read More 

Nigeria recorded 194 pipeline vandalism cases, says NNPC - The Nigerian National Petroleum Corporation (NNPC) says the nation recorded 194 cases of pipeline vandalism between January 2017 and the corresponding period of this year Source Guardian Read More 

FAAC: We’ve kept up with $5.1bn JV cash call repayment plan — NNPC - The Nigerian National Petroleum Corporation, NNPC, said yesterday it had so far kept to the terms of the agreement on the $5.1 billion repayment plan entered into with international oil companies in respect of the Joint Venture Cash Call, JVCC. Source Vanguard Read More 

Bonga Produces 763mn Oil Barrels In 16yrs – Shell - Shell Nigeria Exploration and Production Company (SNEPCo) yesterday disclosed that it has delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017. Source Leadership Read More 

Statoil Loses 5% Stake in Agbami Oilfield, To Pay Chevron $1.1bn - Norwegian oil firm, Statoil, has lost an arbitration dispute to the tune of $1.1 billion against its partners, including Chevron and Petrobras, over the redetermination of shares in Nigeria’s largest deepwater oilfield Source Thisday Read More 

Power: N1tn debt threatens NBET existence - The Federal Government has warned that massive indebtedness by power distributors to the Nigerian Bulk Electricity Trading Company may lead to the death of the firm Source Punch Read More 

Gas supply to power sector rises by 89% - The Nigerian National Petroleum Corporation has announced that it has increased the supply of gas to the power sector by 88.89 per cent. Source Punch Read More 

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Ghana sells $2 bln Eurobonds at issuer-favoured yield: sources - Ghana sold $2 billion worth of dual-tranche Eurobonds with 10- and 30-year maturities on Thursday and it will pay issuer-desired yields, government and transaction sources said. Source Reuters Read More 

Oil ebbs from multi-year highs on surge in U.S. drilling, Iran sanctions opposition - Oil prices on Monday fell away from last week’s multi-year highs as a relentless rise in U.S. drilling activity pointed to increased output, while resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran. Source Reuters Read More 

Goldman Eyes Multibillion Dollar Deal to Fuel Saudi Expansion - Goldman Sachs Group Inc. has approached a Saudi state-owned entity about a multibillion-dollar deal, according to the bank’s chief executive officer for the Middle East and North Africa. Source Bloomberg Read More 

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DBN to deploy $1.3b as loans to MSMEs - THE Development Bank of Nigeria is set to deploy $1.3 billion as loans to Micro, Small and Medium Enterprises (MSMEs) in the country. Source Bloomberg Read More 


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