Nigeria’s oil and gas sector gulps 777 billion Non-Performing loans

According to the latest data from the National Bureau of Statistics, the total non-performing loans in Nigeria as at the end of April 2019 stood at N1.69 trillion. Considering the total gross loans of N15.4 trillion, it means that non-performing loans constitute 10.83% of total gross loans. Click here for more.

Nigeria Ranks 143 In E-Government Index

Although Nigeria slipped two places in global e-Government development index to rank 143 out of 193, the Federal Government said it planned to lift the nation to the 50th position. Click here for more.

FSDH urges FG to issue zero-coupon bonds

The FSDH Merchant Bank has suggested that the Federal Government should consider issuance of zero-coupon bonds to manage the high interest expenses on the debt. Click here for more.

Inflation rate accelerates to highest level in 2019 as food prices soar

Nigeria’s inflation rate rose at a faster pace in May to the highest level this year as food prices continued to increase, according to data released by the National Bureau of Statistics (NBS) on Monday.   The Composite Price Index (CPI), which is a measure of the general change in the prices of consumer goods. Click here for more.

Investors Lose N40.63bn As NSEASI Dips By -0.37%; Close Below 30,000bpts

Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.37% to close at 30,046.70 points as against 0.06% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.75%. Click here for more.

CBN Says FDI Into Nigeria Has Not Dropped

It stated this while reacting to a report on Reuters, quoting World Investment Report, 2019, recently released by UNCTAD on Foreign Direct Investment to African countries. Click here for more.

Airtel Africa To List Simultaneously On NSE, LSE

Airtel Africa Ltd, a unit of India’s Bharti Airtel Ltd, says it intends to list its shares on the Nigerian Stock Exchange (NSE) at the same time as the London Stock Exchange (LSE). Click here for more.

We were not given fair hearing, Oando insists

Again, the embattled management of Oando Plc has accused the Securities and Exchange Commission (SEC), of not granting it fair hearing before dissolving its board of directors, and appointing an interim management to oversee its operations. Click here for more.

Dangote Cement eyes $700m forex earnings from terminals

The cement terminals being built by Dangote Cement Plc in Ibeshe, Lagos State and Onne, Rivers State, will fetch the company $700 million when completed, it was learnt yesterday. Click here for more.

Ellah Lakes Plc lists fresh 1.8 billion shares on the NSE

Ellah Lakes Plc, a leading Agribusiness company, earlier today listed an additional 1.880 billion ordinary shares of 50 kobo each on the Nigerian Stock Exchange. According to a statement signed by Elizabeth Ekpo, representative of the NSE’s Head of Listings Regulations Department. Click here for more.

IFC, subsidiary to sell stake in Ecobank

The International Finance Corporation and the IFC Asset Management Company, a wholly-owned subsidiary of IFC, are in advanced discussions to sell equity holding in Ecobank Transnational Incorporated. ETI, the parent company of the Ecobank Group, said the IFC and investment funds managed by the AMC had entered into a Share Purchase Agreement. Click here for more.