Business

Central bank of Nigeria (CBN)

Nigeria’s outstanding domestic debt stands at N12.4 billion – CBN

The bank says the figure represents a decrease of N146.35 million or 1.16 per cent when compared to N12.59 billion in 2017.

foodstuffs

Increase in food prices made inflation rise in April -NBS

The bureau said the high inflation was caused by increase in prices of some foodstuff.

The Director General, Bureau of Public Enterprises (BPE), Alex Okoh

Court insists BPE DG must appear in person in contempt case over ALSCON

The court wants Mr Okoh to show why he should not be committed to prison for the BPE’s flouting of a Supreme Court’s order on ALSCON’s ownership.

Patience Oniha

N100 billion worth of bonds up for subscription on May 22 – DMO

The five-year re-opening bonds of N35 billion will mature in April 2023.

Vice President Yemi-Osinbajo

Nigerian govt to stop patronizing individuals, firms owing AMCON – Osinbajo

AMCON pegs outstanding debts from various obligors at over N5 trillion.

nigerian_stock_exchange

Bears persist on NSE, indices down by 0.22 per cent

The market capitalisation closed lower at N10.678 trillion against N10.701 trillion recorded on Monday.

Microsoft (Photo Credit: v3.co.uk)

Microsoft to invest $100 million on Nigeria, Kenya tech hubs

The tech firm says it will hire 100 developers by the end of 2019, and expand to 500 by the end of 2023.

Stanbic IBTC Bank fined N2 billion for violating CBN guidelines, other offences

Details of the fines are contained in Stanbic’s financial statement for the year ended December 2018

Nigerian Stock Exchange (NSE)

NSE delists Newrest ASL, market capitalisation loses N141 billion

The All-Share Index declined by 1.26 per cent or 363.37 points to close at 28,484.44 compared with 28,847.81 achieved on Friday.

Dollar and Naira bills [Photo credit: NairaFX]

Naira remains stable at N359 to dollar at parallel market

The Pound Sterling and the Euro traded at N417 and N402, respectively.

President Buhari with Nigerian governors

Combined FAAC allocations for 2017, 2018 inadequate to fund 2019 budgets of 35 states – NEITI

Total disbursements to the States dropped below N2trillion first time since Q2 2018.

Godwin-Emefiele

CBN Scandal: Leaked audio authentic but selective, bank says; claims no money lost

The audio, published by Sahara Reporters, shows confused CBN officials led by Mr Emefiele discussing how to resolve a scandal.

Corporate Affairs Commission (CAC) Head Office

CAC extends registration window for small businesses by 90 days

The new extension will end on August 13, CAC says.

FAAC meeting

States right to demand review of revenue sharing formula — RMAFC

Under the current sharing formula, the federal government takes the lion share of 52.68 per cent from the Federation Account.

900,000 meters to be distributed in three years –AEDC

The distribution of the meters will be done over the next three years in Abuja, as well as Niger, Kogi, and Nasarawa States.

Godwin Emefiele

Nigeria equities market defies Emefiele’s reappointment, down by N20bn

Market capitalisation, which opened at N10.860 trillion shed N20 billion to close at N10.840 trillion.

Over $900 million found in secret non-TSA accounts — Rep panel

The House accuses the NNPC, NPA, FIRS, Nigeria Customs Service as well as other ministries and banks of various infractions.

Fruits

Consumer protection agency warns against use of carbide, other chemicals to ripen fruits

The Commission advised consumers to exercise caution and vigilance by examining what they purchase and intend to consume.

NCC Headquarters used to illustrate the story.

NCC begins new round of SIM registration compliance audit

NCC says it wants to establish a clean and credible SIM registration database in the country.

Minister of Trade and Investment, Okechukwu Enelamah

African Trade Agreement: Nigeria losing nothing by not signing – Enelamah

Two officials hint Nigeria may soon sign the agreement.

Facebook

Facebook, CCHub to mentor 12 startups in Nigeria, Ghana

Facebook and CcHUB have started accepting applications for Season 2 of the FbStart Accelerator.

Naira Notes

Naira remains stable at parallel market

The Pound Sterling and the Euro traded at N472 and N402, respectively.

NCC flags off Phase 2 of SIM registration verification, compliance audit

NCC aims to establish a credible SIM registration database in the country.

Agip Head office in Lagos

Nigerian govt appeals dismissal of multi-million dollar debt recovery suits against Agip Oil, Brasoil

The Nigerian government wants the court of appeal to set aside the decision of the federal high court dismissing its claims.

MTN

SEC approves MTN’s application to be registered in capital market

The issue of MTN enlisting its shares in the Nigerian capital market has lingered since 2013.