News Reports

Nigeria Stock Exchange (NSE)

NSE: Market indices rebound by 0.26% after four days decline

Seplat led the gainers’ table, growing by N25 to close at N760 per share

Minister of Finance, Kemi Adeosun

Tax: We’ve built social partnership with Nigerians – Adeosun

Nigeria’s tax base has risen to 19 million, she says.

Union Bank

Union Bank records N5.3 billion profit

The figure shows an improvement on the previous year despite non-declaration of dividend
Union Bank of Nigeria (UBN) Plc on Thursday released its first quarter result ended March 31, 2018 and the long-awaited 2017 audited result ended December 31, 2017.

Yewande Sadiku

Nigeria records $24.1 billion foreign investment in 2 years

The $6.3 billion capital inflow in the first quarter of 2018 is more than all inflows that came in 2016 and in third quarter in 2017.

MTN Nigeria office

MTN to raise N400 billion in Nigeria bond

The wireless carrier expects to list its Nigerian unit on the Nigerian bourse by the end of 2018.

Aliko-Dangote-1062x598

Forbe names Dangote 66th world’s most powerful person

The Nigerian businessman was ranked among 75 most powerful persons in the world.

Vice President, Yemi Osinbajo at the 20th Annual Tax Conference in Abuja

Nigeria to propose five tax amendment bills – Osinbajo

“Our tax system requires review, to among others, ensure removal of obsolete and contradictory clauses.”

NNPC TOWERS

NNPC among most transparent companies in Nigeria – Baru

“We are now probably one of the most transparent companies in this country.”

Reps urges Nigerian govt to halt sale of NLNG shares

The House says halting the sale is in the interest of the nation.

Vice President, Yemi Osinbajo

19 million Nigerians now pay tax – Osinbajo

The figure was 14 million last year.

Nigerian Senate

Senate committee to deliberate on Buhari’s request for promissory note programme

The president had in March written to the Senate seeking the establishment of a promissory note programme

MTN

U.S. withdrawal from Iran deal likely to hit MTN, company says

The South African operator says about 200 million euros of its money remains in Iran.

Central bank of Nigeria (CBN)

CBN boosts foreign exchange market with $210 million

The bank gave $100 million to authorised dealers in the wholesale segment of the market

Nigeria Stock Exchange

NSE: All-Share Index drops further by 0.04%

The market capitalisation closed lower, dropping by N7 billion or 0.05 per cent to close at N14.907 trillion

University of Lagos (UNILAG). [Photo credit: Students Nigeria]

Unilag plans to establish modular refinery

The refinery will serve as laboratory for students of the Faculty of Engineering

Comptroller-General of the Nigerian Customs Service, Hameed Ali

Tincan Customs generates N104.5 billion

The Command says it projected an income of N116 billion during the first quarter of 2018

Minister of Finance, Kemi Adeosun

UPDATED: World Bank officials to meet Osinbajo, Adeosun, govs over projects in Nigeria

The meeting holds on Wednesday.

International Monetary Fund (IMF)

IMF warns of rising African debt in spite of faster economic growth

Around 40 per cent of low-income countries in the region are now in debt distress or at high risk of it.

Naira Notes

Naira weakens marginally against dollar at parallel market

At the Bureau De Change, the naira traded at N362 to the dollar, while the Pound Sterling and the Euro exchanged at N502and N430, respectively

atm-machine-nigeria1

ATMs record transactions worth N1.56bn in Q1 – NBS

The number of banks staff decreased from 90,453 in the fourth quarter of 2017 to 89,608.

atm-machine-nigeria1

Banks are ripping us through ATMs, customers cry out

Many banks deliberately put maximum withdrawal at N10,000.

A local refinery used to illustrate the story

Nigeria approves 13 modular refineries – Baru

There were 35 applications for the refineries.

Kano-Katsina road construction

Africa needs $170bn annually to meet infrastructure requirement – AfDB

The bank says there is the need to diversify the sources of African development through promoting the private sector.

PENCOM

PENCOM sets July 1 for takeoff of multi-fund structure pension

Total Pension fund assets rises to N7.77 trillion.

Nigerian-Stock-Exchange

NSE: Indicators down by 0.48%

International Breweries recorded the highest loss, dropping N4.30 to close at N47.50 per share.