In the news: CBN pumps 0m into the FX Market
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CBN Intervenes in Forex Market with Fresh $210m The Central Bank of Nigeria (CBN) on Monday injected another $210 million into the interbank foreign exchange market in its bid to boost liquidity in the market. Year-to-date Growth Hits 39.6% as Stock Market Rebounds The stock market returned to positive territory yesterday as it reversed the negative performance of the first trading day of the week. Saraki Accuses Anti-graft Agencies of Looting Recovered Funds, Property The Senate President, Dr. Bukola Saraki, Tuesday accused anti-graft agencies of looting funds and property recovered from corrupt persons. FIRS Hits 79.35% of 2017 Collection Target in 10 Months, Says Fowler The Federal Inland Revenue Service (FIRS) has said in Abuja that it generated N3.233 trillion in 10 months, an amount that represented 79.35 per cent of its collection target for 2017. NNPC Targets 15% Downstream Market Share, Builds Three New Mega Stations The Managing Director of the Nigerian National Petroleum Corporation (NNPC) Retail Limited, Mr. Yemi Adetunji, on Tuesday disclosed that the downstream retail subsidiary of the corporation has set its sights on taking and satisfying about 15 per cent of Nigeria’s downstream petroleum market share in the next one year. Imo Assembly Boycott 2018 Budget Presentation For the first time in the life of the Imo State House of Assembly since the current administration of Governor Rochas Okorocha, the Assembly would in unison raise issues of concern to the governance of the state and wellbeing of the people as members yesterday boycotted the presentation of the 2018 budget proposal scheduled for 10a.m. at the Assembly Complex. Punch FG opts against $550m Chinese loan for communications satellites The Federal Government has backed out of a plan to take a loan of $550m from the Chinese Export and Import Bank for the construction of two new communications satellites. Discos’ force majeure notice jeopardizing power generation The force majeure notice recently issued by power distribution companies and their disapproval of the eligible customer regulation of the Nigerian Electricity Regulatory Commission are jeopardizing power production in the country. Senators, Reps pick holes in 2018 budget proposal Both chambers of the National Assembly have berated the Federal Government’s 2018 budget proposal, saying its assumptions are unrealistic. Amnesty wants Shell probed for alleged abuses in Ogoniland Amnesty International on Tuesday said Royal Dutch Shell Plc should face investigations in three countries for alleged complicity in human rights abuses, including murder and rape, committed by the Nigerian military government in the oil-producing Ogoniland region in the 1990s. The Nation Import prohibition attracts $10b investment, says CBN The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, said the import prohibition policy of the apex bank has attracted investment valued at $10billion into the country. Nigeria’s pension fund assets under the Contributory Pension Scheme (CPS) have hit N7.164 trillion– as at September from the N7.094 trillion recorded in August. Adeosun: only 40m Nigerians pay tax Out of 70 million taxable adults in Nigeria, only 40 million pay taxes, the Minister of Finance, Mrs. Kemi Adeosun has said. UACN eyes mergers, acquisitions with new equity capital: With 10 subsidiaries in key sectors of the Nigerian economy, Nigeria’s largest and oldest business conglomerate, UAC of Nigeria (UACN) Plc will consider new acquisitions and mergers to further optimise the values of its existing businesses and take advantage of emerging opportunities in other sectors. Guardian Foreign capital inflow hits $4.145b in Q3, says NBS The National Bureau of Statistics (NBS) has said that the capital importation into the county recorded an increase to $4.145 billion in the third quarter of 2017. Continued importation of dirty fuel raises fears Experts warn of health and economic consequences following Federal Government’s failure to meet deadline on importation of high sulphur (dirty) fuels. Vanguard Interbank money market resists N90bn liquidity mop up Efforts by the Central Bank of Nigeria (CBN) to mop-up liquidity from the interbank money market proved abortive as the N90 billion treasury bills (TBs) issued on Monday was undersubscribed by 47 percent. Reuters OPEC heading for oil cut extension with a caveat OPEC and Russia are heading towards prolonging their oil supply cuts for the whole of 2018 but with an option to review the deal in June.
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