Trade Uncertainty Rising In Nigeria, Says IMF

The International Monetary Fund has expressed concern over the rise in trade uncertainty in Nigeria and many other economies amid the escalating trade tensions between the United States and China. Click here for more.

Nigerian Oil Exports at Year’s High as Militancy Recedes: Chart

Nigeria’s oil exports rose to the highest this year in August even as OPEC seeks to restrict output to stabilize prices. Flows from Africa’s top producer have rebounded strongly from the 2016 lows, driven by an end to militant attacks on oil assets and the coming on stream of the 200,000 barrels a day Egina platform. Click here for more.

FG, States, LG Share N3.84tr In First Half Of 2019

The federal, states, local governments and others shared N3.84trn between January and June this year, data contained in the latest edition of NEITI Quarterly Review, showed. Click here for more.

Disbursements To States Stay Above N200bn Monthly

The disbursements to state governments from the Federal Account Allocation Committee has remained above N200bn on a monthly basis since January this year, the latest quarterly report put together by the Nigeria Extractive Industries Transparency Initiative has revealed. Click here for more.

Investors Lose N27.59bn As NSEASI Dips By -0.21% To Open The Week Negative

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.21% to close at 27,089.84 points as against -0.39% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.81%. Click here for more.

NAICOM Approves 2 New Takaful Insurance Companies

The National Insurance Commission (NAICOM) has granted approval in principle to Cornerstone Takaful Insurance Company Ltd and Salam Takaful Insurance Company Ltd as composite Takaful operators to transact both family and general Takaful businesses in Nigeria. Click here for more.

Contractors in CBN, Ministries and MDAs inflated contracts by N26.86 billion – Reports 

The Bureau of Public Procurement (BPP) has disclosed that it saved N26.86 billion for the Federal Government in 2018, through a downward review of inflated contracts by the ministries and agencies of government. Click here for more.

Access Bank recover N14 billion in bad loans after merger with Diamond Bank

Access Bank Plc released its 2019 Half Year results showing pre-tax profits rose from N45.8 billion to N74.1 billion. This is the first half-year results since the bank consummated its merger with Diamond providing investors with a glimmer into how the merger is panning out. Click here for more.

Flour Mills shareholders get N2.89bn increase in dividend

Shareholders of Flour Mills of Nigeria Plc have seen N2.89bn increase in dividends as the company proposed a payment of N1.20 dividend per share for the 2018 financial year. The shareholders approved the payment of the dividend at the company’s Annual General Meeting in Lagos. Click here for more.

Sustained lack of policy structure, harmony affecting economy

After 100 days in office for his second term, some members of the organised private sector have described the nation’s economic policy space as one that remains unclear and fragmented within the arena of key public authorities and agencies. Click here for more.

Stop N305/Dollar Official Exchange Rate, LCCI Tells CBN

The Lagos Chamber of Commerce and Industry has advised the Central Bank of Nigeria to discontinue the official exchange rate of N305 to one United States dollar. It said that the multiplicity of rates was inimical to economic diversification and urged the apex bank to allow the market to drive the forex rate. Click here for more.

Nigeria Loses 10,000 Barrels Of Crude Oil Daily – Shell

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has decried the spate of attack on pipelines and other oil assets in the Niger Delta region stressing that the country loses about 10,000 barrels of oil from its pipelines to crude oil theft daily. Click here for more.