In the news: Equities Market Opens Week Bearish
Shareholder groups under the aegis of the Trusted Shareholders Association of Nigeria and the Oando Shareholders Solidarity Group have vowed to resist any attempt to frustrate the forensic audit of Oando Plc’s financials as ordered by the Securities and Exchange Commission.
Nigeria spent a total of $197.29m to service foreign debts in the third quarter of this year, the Debt Management Office said on Wednesday.
The Managing Director, Nigeria Export Processing Zones Authority, Mr. Emmanuel Jime, says the agency has licensed three new Free Trade Zones.
As fuel queues grew shorter at some filling stations in Lagos on Tuesday, oil marketers under the aegis of the Depot and Petroleum Products Marketers Association said they did not have Premium Motor Spirit in their tanks.
JP Morgan Chase & Co, which has presence in Nigeria, has paid $2.8m fine to the United States regulator to settle charges that its broker-dealer unit lacked sufficient controls to safeguard customer securities from several countries including Nigeria over more than eight years.
The Central Bank of Nigeria (CBN) has postponed until further notice it earlier directive for banks to adhere to settlement banking arrangement for all clearing sessions.
The Nigerian equities market commenced the week on negative note on Wednesday as investors continued to sell to meet cash needs in this festive period.
Oil price on Wednesday hit $67 per barrel for the first time since May 2015, before dropping to $66.27 despite the supply disruptions in Libya and the North Sea.
The Nigerian Stock Exchange, NSE, said it would soon introduce guidelines for creation, listing and trading of derivative products on its platform.
The December 31, 2017 deadline for the handover of 9mobile, Nigeria’s fourth largest telecommunications service provider to one of the five potential investors has been postponed to January 2018.
Ibe Kachikwu, Nigeria’s minister of state for Petroleum Resources has said Nigeria would review the list of companies allowed to participate in the Direct Sale of Crude Oil and Direct Purchase of Products (DSDP) programme on suspicion of profiteering and lack of capacity as fuel queues resurfaced to mar the Christmas holidays.