CBN to reintroduce cashless policy nationwide, says Emefiele

March 28, 2019

Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), has unveiled plan to extend the cashless policy nationwide almost two years after the policy was halted. Emefiele said all necessary structures have been put in place to improve banking services in the country. He made this remark Wednesday during the First Bank of Nigeria’s […]

Investors oversubscribe March FGN Bonds by N140bn

March 28, 2019

The Debt Management Office on Wednesday said that FGN Bonds offered to investors for the month of March was oversubscribed by N140bn.  In a statement made available to our correspondent in Abuja, the DMO said it offered N100bn bonds but received a subscription of N240.6bn.  The DMO said, “The FGN Bond auction for March 2019 […]

FG, states, LGs share N619bn

March 28, 2019

The Federation Accounts Allocation Committee on Wednesday distributed the sum of N619.85bn to the three tiers of government.  The amount was shared from the statutory revenue generated in the month of February, and other sources.  Addressing journalists shortly after the meeting which was held at the headquarters of the Ministry of Finance, the Director of […]

NEM leads 19 laggards as bears maintain grip on NSE

Adesola AfolabiMarch 27, 2019

As the downward trend continues at the equities market, NEM Insurance Plc led 18 other stocks, declining by 5.53 percent to close at N2.23 per share on Wednesday. The decline recorded among laggards as well as some banking sector heavy weights such as Guaranty Trust Bank that dropped 3.7 percent, Stanbic IBTC that fell 5.2 […]

NSE admits Lafarge’s additional 7.43bn ordinary shares

Adesola AfolabiMarch 27, 2019

The Nigerian Stock Exchange (NSE) Thursday announced that it has admitted additional 7.43 billion ordinary shares of Lafarge Africa Plc on its trading platform. The NSE’s announcement which was conveyed in a statement released via its official website and signed by Lilian Dako on behalf of head, listings regulation department noted that the additional ordinary […]

Senate Committee on Local, Foreign Debt frowns at lopsided contract payment

March 27, 2019

The Senate Committee on Local and Foreign Debts has frowned at what it described as lopsided payment to local contractors. Shehu Sani, the chairman of the committee, made the remark when the Ministry of Finance and Debt Management Office appeared before the committee for their budget defence. Sani expressed concern that the debt repayment to […]

Lloyd’s of London suffers 1 billion pound loss due to natural catastrophes

March 27, 2019

The Lloyd’s of London insurance market recorded a loss of one billion pounds ($1.32 billion) in 2018 due to major natural catastrophes such as hurricanes and wildfires, it said on Wednesday. Lloyd’s, which started life in Edward Lloyd’s coffee house in 1688, insures complex risks from oil rigs to footballers’ legs. It houses around 80 […]

CBN wants oil marketers’ debts paid to improve financial system stability

March 27, 2019

By Moses Obajemu   The Central Bank of Nigeria (CBN) has urged the federal government to settle all outstanding contractor-related debts, especially debt owed oil marketers so as to improve the non performing loan position of banks in the country. The CBN position is contained in the communiqué issued at the end of the 123rd meeting […]

JUST IN: 2019 budget hits setback as Udoma, Ahmad, others shun Reps hearing

March 26, 2019

The 2019 budget, on Tuesday, encountered a major setback as heads of federal government’s ministries, departments and agencies (MDAs) shunned an invitation by the Joint House Committee on Appropriation, Finance, Aids, Debts and Management, among others. The affected heads of MDAs included Minister of National Planning, Udo Udoma; Minister of Finance, Aisha Ahmad; Group Managing […]