Nigeria in 1min: Economic, Business and Financial Headlines – 220818

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Wednesday, August 22, 2018 / 7:00 AM / Proshare News

 

PROSHARE ECONOMY

Export in Q4 2017 stood at N3.7bn – NSC - Export of locally produced goods stood at N3.7 billion in the fourth quarter of 2017, the Executive Secretary of the Nigerian Shippers’ Council  (NSC), Barr. Hassan Bello, has said. Source Daily Trust Read more 

FMB seeks N500b for recapitalisation - The Federal Mortgage Bank (FMB), is seeking Federal Government’s approval for N500 billion  to enable it recapitalise the financial institution Source THE NATION Read more

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PROSHARE BUSINESS

FG, oil majors lose N195bn to pipeline shutdown - The shutdown of the Trans-Ramos Pipeline since May has cost the Federal Government, Shell, Total and Nigeria Agip Oil Company Limited at least $640m (N195bn) in lost revenue. Source Punch Read more 

Tax evasion: FG makes N13.8 bn from whistleblowing policy - The Federal Government yesterday disclosed that it had generated N13.8 billion from the whistle-blowing policy on tax evasion. Source Daily Trust Read more 

Cohen pleads guilty and implicates Trump  - Donald Trump faced the most dramatic legal crisis of his presidency after his long-time lawyer pleaded guilty to arranging payments “at the direction” of his former boss during the 2016 campaign to silence two women who alleged they had affairs with Mr Trump. Source FT Read more 

Ethiopian Airlines, Zambia to relaunch national airline at cost of $30 million - Ethiopian Airlines has signed a shareholding agreement with Zambia’s main develoment agency to relaunch the southern African country’s flag carrier at an initial cost of $30 million. Source Reuters Read more 

China sells diesel to South Africa as refiners seek new export markets - State-run oil company Sinopec is selling diesel as far afield as South Africa as China’s refiners seek homes for their surplus fuel in the latest sign of troubles in the domestic refining business. Source Reuters Read more 

Russia signs military deal with the Central African Republic - agencies - Russia and the Central African Republic (CAR) signed a military deal on Tuesday paving the way for Moscow to step up training of CAR’s armed forces, Russian news agencies reported. Source Reuters Read more 

South Africa's Shoprite logs first annual profit drop in 19 years - Africa’s biggest grocer Shoprite reported its first annual earnings decline in 19 years on Tuesday, due to a currency devaluation in Angola and a lacklustre showing in its home South African market and elsewhere on the continent. Source Reuters Read more 

Oil edges up as U.S. crude stocks fall, Iran sanctions weigh -  Oil prices rose on Wednesday, supported by a drop in U.S. crude inventories and a weaker dollar, along with concerns about a potential shortfall of Iranian oil from November due to U.S. sanctions. Source Reuters Read more 

China Shipowners Stop Hauling Iranian Oil as U.S. Sanctions Near -China’s shipowners are shunning Iran’s oil, while the OPEC producer is using its own tankers to supply top customers as impending U.S. sanctions threaten to disrupt global crude trade. Source Bloomberg Read more

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PROSHARE TECHNOLOGY

Only 49% of Nigerians have bank accounts, says report - Latest report from the Lagos Business School (LBS), has revealed that 49 per cent of Nigerians have viable bank accounts thus making the country’s financial inclusion efforts move at a slow pace. Source Guardian Read more 

Sallah: Banks recorded 278,966 failed instant pay transactions - Bank customers experienced 278,966 failed electronic payment transactions on the Nigeria Interbank Settlement System Instant Pay platform on Tuesday. Source Punch Read more

 

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