FG Spent N3.3tn In Six Months, Says Minister

The Federal Government has spent the sum of N3.39tn within the first six months of this year to finance the 2019 budget. She gave the indication in Abuja on Monday during a public presentation of the 2020 budget, which was submitted by President Muhammadu Buhari. Click here for more.

FG Allocates N1.33trn To Top 12 MDAs

The Federal Government has allocated over N1,322.92 trillion for capital expenditure to top 12 Ministries Departments and Agencies (MDAs). This was even as it admitted that it was  responsible for the failure of  the Public Private Partnership (PPP) projects in Nigeria. Click here for more.

Customs ban exports, imports via land borders indefinitely

The Nigeria Customs Service on Monday announced an indefinite ban on importation and exportation of goods through the land borders. Comptroller-General, NCS, Col. Hameed Ali (retd), who stated this at a press conference in Abuja, also said Niger Republic had placed a ban on export of rice to Nigeria as a result of Nigeria’s border closure. Click here for more.

Investors Gain N11.52bn As NSEASI Inches Up By 0.09% To Open The Week Positive

Equities market closed yesterday on a positive note, as NSEASI appreciated by +0.09% to close at 26,557.44 points as against -0.19% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.50%. Click here for more.

Index records 7.8% loss in Q3 over uncertainties

For the third quarter ended September 30, 2019, performance of many listed firms at the Nigerian Stock Exchange (NSE), continued the depreciated due to uncertainties and absence of clear economic policy direction. Click here for more.

DMO Lists Series II FGN ₦15bn 7-Year Green Bond on NSE

The Nigerian Stock Exchange (NSE) (“NSE or The Exchange”) is pleased to announce the listing of the Federal Government of Nigerian (FGN) N15 billion Green Bond on its daily official list, by Debt Management Office (DMO) on Monday, October 14, 2019. The 7-year Green bond issued at coupon rate of 14.50% on June 13, 2019, is due to mature on June 13, 2026. Click here for more.

PFAs Invests N1.03tn Pension Funds In Banks

The Pension Funds Administrators increased the pension funds invested in the banking sector to N1.03tn as of the end of July. Figures obtained from the National Pension Commission revealed that this amounted to 11.03 per cent of the total pension funds which was N9.36tn in the period under review. Click here for more.

MfBs float firm to deepen financial inclusion

The microfinance banking sector of the economy has floated a company, known as Microfinance Development Company Limited, to address the problem of lack of wholesale funds for the sector, and boost operations. Click here for more.

Julius Berger diversifies into oil & gas industry

Julius Berger Nigeria Plc has announced its diversification into the oil and gas industry by acquiring a 20 per cent equity stake in Petralon Energy Limited. The firm said in a statement on Monday, which was made available to the Nigerian Stock Exchange, that the acquisition was in line. Click here for more.

Online transactions rise by N12.8 trillion  

The value of online transaction made in Nigeria has increased from N36.49 trillion between January and June 2018 to N49.35 trillion between same period in 2019. This represents an increase of 33.8%, data obtained from the Nigerian Inter-Bank Settlement Scheme disclosed. Click here for more.

OPEC: Nigeria Rallies African Producers, Gets Sudan’s Pledge on Cut

Ahead of the next meeting of the ministers of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria has begun to rally African countries who are members of OPEC, in its bid to ensure the continent plays by the rules in the production limitation agreement reached by the cartel and its allies led by the Russian Federation. Click here for more.