Commercial Operations Begin On Lagos-Ibadan Railway In September – NRC

The transportation of passengers, goods and services on a commercial basis will commence on the Lagos-Ibadan railway between September and October this year, the Nigeria Railway Corporation has said. Click here for more.

Power Crisis Worsens as National Grid Collapses Again

Nigeria’s feeble national grid collapsed again yesterday morning just about 43 days after the last collapse on May 9, 2019, the Transmission Company of Nigeria (TCN), has disclosed. Click here for more.

NERC Earned N6bn In 2018, Spent N4.9bn On 7 Commissioners, Others

The Federal Government generated N5.994 billion from licence fees and regulatory charges in 2018 but spent N4.938bn on salaries, post-employment benefits and other allowances for the seven commissioners and 165 support staff at the Nigerian Electricity Regulatory Commission (NERC). Click here for more.

Pensions: Katsina, Imo, 19 others not remitting deductions from workers’ pay

Since the implementation of the Pension Reform Act in 2004 by the National Pension Commission, a total of 21 state governments have yet to remit pension deducted from workers’ pay. Part of the objectives of the Pension Reform Act is to ensure that every person who worked either in the public service of the federation. Click here for more.

Investors Gain N50.93bn WoW As NSEASI Inches Up By 0.39% To Close The Week Positive

Equities market closed today on a positive note, as NSEASI appreciated by 0.73% to close at 29,966.87 points as against 0.47% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.66%. Click here for more.

NASD OTC Market CAP Increased By 3.01% WoW To Close At N536.20bn

As at close of trade week on 28 June 2019, market Capitalisation increased to ₦536.20 billion from last week’s previous ₦520.52 billion, which shows a 3.01% increase in Capitalisation. Also the USI for the week ended 28 June 2019 recorded a increase from 724.52 points to 746.34 points. Click here for more.

Stock market slumps by N479bn in June

The nation’s stock market slumped by 3.55 per cent in June as investors recorded losses totalling N479bn. The market, which opened the month of June with a market capitalisation of N13.685tn, a value recorded on May 31, 2019, closed 1102.5 basis points lower at a market capitalisation of N13.206tn on Friday, June 28, which was the last trading day in the month. Click here for more.

CBN Injects $242.04m, CNY 32.3m Into Retail SMIS

In continuation of its intervention in the inter-bank foreign exchange market, the Central Bank of Nigeria (CBN) on Friday, June 28, 2019, injected the sum of $242.04million into the retail Secondary Market Intervention Sales (SMIS) and CNY 32.3million in the spot and short tenored forwards segment of the inter-bank foreign market. Click here for more.

FMDQ weekly report

Commentary on the Foreign Exchange (FX) market with data for the week-ended June 28, 2019. The Small and Medium-scale Enterprises (SMEs) and the Retail (Invisibles) segment. Click here for more.

Osun Set To Disburse N615m Soft Loans To Small Businesses

Osun State Government is set to begin the disbursement of over N615 million to micro and small businesses, General Manager of Osun Micro-credit Agency, Mr. Dayo Babaranti said at the weekend. Click here for more.

OPEC+ Is Close To Finalizing A Charter For Long-Term Cooperation

OPEC+ nations are close to finalizing a “charter” for a long-term alliance, with a document likely to be signed as soon as this week, said two delegates. Members of the group received a revised draft of the document on Sunday that appeared to have broad support. Click here for more.