AfDB Restates Warning On Rising Debts Among African Nations

Despite the low international debt threshold of many African countries, Nigeria inclusive, a message from the African Development Bank (AfDB) the weekend was that of caution and pursuit of growth with escalated obligations. Click here for more.

EU Observers Say Nigeria 2019 Elections Weren’t Transparent

Nigeria’s 2019 general elections won by President Muhammadu Buhari and his All Progressives Congress weren’t transparent and were marred by violence and harassment of voters, the European Union observer mission said. Click here for more.

Investors Lose N169.75bn WoW As NSEASI Dips By -1.27% To Close The Week Negative

Equities market closed Friday on a positive note, as NSEASI appreciated by 0.06% to close at 30,046.70 points as against 0.23% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.40%. Click here for more.

Why NNPC isn’t ripe for listing on NSE

In an interactive session with some stakeholders, the immediate past Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, spoke on some pertinent issues in Nigeria’s oil and gas industry. Click here for more.

CBN’s Life Support To FG Rises 780% To N8.12trn In 4yrs

Nigeria’s quest to fund an ambitious budget despite gaping revenue shortfalls has led the Federal Government’s outstanding loans/overdrafts owed to the Central Bank of Nigeria (CBN) to hit a whopping N8.1 trillion at the end of 2018. Click here for more.

CBN Wants C’River Anchor Borrowers’ Beneficiaries to Pay Back

The Central of Nigeria (CBN) has asked rice farmers in Cross River State who benefited from the Anchor Borrowers’ Programme to pay back the loans they collected in order not to stall the programme in the state. Click here for more.

DMO Lists FRN Dual-Tranche $2.5bn and Triple Tranche $2.86bn Eurobond on FMDQ OTC

At the listing ceremony Ms. Patience Oniha, Director –General,  Debt Management Office, Nigeria informed bond traders that the Eurobond listings, tied into the strategy of achieving a 60% domestic  and 40% foreign debt ratio for Nigeria. Click here for more.

NSIA grows assets under management to N617bn

The Nigeria Sovereign Investment Authority has grown its assets under management to $1.9bn (N617.69bn). The Managing Director and Chief Executive Officer, NSIA, Mr Uche Orji, said that as of the end of 2018, the NSIA had assets under management of $1.9bn (N617.69bn). Click here for more.

Going beyond N9tr asset with PenCom’s micro-pension plan

A significant growth in the pension industry’s asset size beyond the current value of N9.03 trillion is a new target. But it is riding on the expected success from the extension of the Contributory Pension Scheme (CPS) to the informal sector, while the flexibility of the operation is one of the incentives to encourage participation. Click here for more.

NSIA Grows Assets Under Management To N617bn

The Nigeria Sovereign Investment Authority has grown its assets under management to $1.9bn (N617.69bn). The Managing Director and Chief Executive Officer, NSIA, Mr Uche Orji, said that as of the end of 2018, the NSIA had assets under management of $1.9bn (N617.69bn). Click here for more.

Instant bank transfers rise to N41.48tn in five months

The value of transactions via the Nigeria Interbank Settlement System Instant payment system rose to N41.48tn in five months of this year as banks, fintechs and telecommunications companies intensify efforts to deepen financial inclusion. Click here for more.

Discos’ Debt To Transmission Company Hits N231bn

The indebtedness of power distribution companies to the Transmission Company of Nigeria has risen to N231bn as of March 2019. Nigeria has 11 Discos. The electricity generated by power generation companies is transmitted by the TCN to power distributors, who then distribute the product to final consumers. Click here for more.