In the news: Pension assets rise to N7tn
Members of the House of Representatives are unimpressed with what they term “poor capital releases” for the 2017 budget just as President Muhammadu Buhari is set to lay the 2018 estimates before the National Assembly.
Company secretaries and legal teams of 19 Deposit Money Banks in the country will on Tuesday hold an emergency meeting to fashion out modalities to comply with a court order directing commercial banks to freeze bank accounts without the Bank Verification Number and publish names and details of the customers.
The total assets under the Contributory Pension Scheme rose to N7.09tn as of the end of August, this year.
The latest monthly oil and gas report released by the national oil firm showed that the cumulative capacity utilization of the nation’s three refineries dropped further from 12.73 per cent in June to 11.94 per cent in July 2017.
Evans Medical Plc, on Friday, informed its shareholders and other stakeholders as well as the Nigerian Stock Exchange of the move by Skye Bank Plc and First Bank of Nigeria Limited to take over the company.
Dangote Cement, with plants spread across Africa, has maintained its dominance in the Nigeria domestic cement market accounting for 65 per cent of the Nigerian market volume.
The Central Bank of Nigeria (CBN) last week auctioned treasury bills worth N133.79 billion via primary markets.
The value of investments in the Nigerian fixed income market in the first nine months of 2017 is put at N102.88 trillion.
The scramble to acquire 9mobile, Nigeria’s fourth largest network operator, promises to be very competitive, as 16 firms have submitted expressions of interest (EoIs) to Barclays to bid for 9mobile.
The Debt Management Office (DMO) has clarified the plans of the federal government to source funds from the international financial markets.
In a series of rebounds recorded by early birds in the nine-months 2017 financial results season, stocks of Cement Company of Northern Nigeria Plc, CCNN, returned to double digit last weekend on the strength of the impressive results it announced that day.
Lafarge Africa Plc has returned to profitability and has concluded plans to issue N25billion in Commercial Papers from a 60billion programme in October and list on the Financial Market Derivative Quote.
Shareholders of Wema Bank Plc have approved the plan by the bank to reduce its share premium capital by N40.172 billion to N8.698 billion from N48.870 billion.
The Nigerian Stock Exchange (NSE) has downgraded Seven-Up Bottling Company Plc from its special pricing status category following the depreciation in share price of the company.
Shareholders of three Nigerian subsidiaries of Anheuser-Busch InBev have approved the plan by the world largest brewer to merge and consolidate its Nigerian businesses under a publicly quoted entity.
Heavy transactions in the shares of some banks, especially GTBank and Zenith Bank, last week, lifted the volume of shares traded.
BW Offshore wins 4-year contract extension offshore Nigeria: Sendje Berge Limited, a subsidiary of BW Offshore Limited, has now agreed terms of a contract extension for the FPSO Sendje Berge with Addax Petroleum Exploration (Nigeria) Ltd on the Okwori field offshore Nigeria which have been duly submitted to relevant Nigerian Authorities for their review and approval.