In the news: Investors’ wealth appreciates further by N517 billion
The Association of Bureaux De Change Operators of Nigeria, the umbrella body of over 3,500 BDC operators licensed by the Central Bank of Nigeria in the country, has called on the regulator to extend the January 31 deadline set for the renewal of operating licence of its members to March 31, 2018.
In a sign that the scarcity of petrol in Nigeria could be more widespread than first expected, the Nigerian National Petroleum Corporation has issued a spot tender seeking 1,480,000 metric tonnes of petrol from January to April, on top of the existing term volumes it imports.
Affelka S.A., the majority shareholder of Seven-Up Bottling Company Plc, who is proposing to acquire all the outstanding and issued shares of SBC that are not currently owned by Affelka, has advised the company that the scheme consideration has been revised upwards to N125 per share.
The Edo State Government on Wednesday said it had signed a Memorandum of Understanding with a Chinese consortium for the construction of a modular refinery in the state.
Owing to buying pressure, the average bond yield declined by 0.12 per cent, to settle at 13.48 per cent at the close of trading on Wednesday.
The bulls strengthen their hold on the equity sector of the Nigerian Stock Exchange (NSE), yesterday, as more blue chip stocks joined the league of gainers, causing market capitalization to soar significantly by N517 billion.
As a key element of modern trade policy, the Federal Government, Tuesday, entered into agreement with leading trade law firm, King and Spalding, LLP, of Geneva, Switzerland, to provide legal services for Nigeria’s trade remedy legislation.
The Ministry of Power said it would soon introduce a new policy, targeted at expanding electricity distribution in the nation.
Governor Nyesom Wike of Rivers State will today present the state’s 2018 draft budget to the state House of Assembly.
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