In the news: Stock Market hits nine-year high
Long queues of desperate motorists and other users of Premium Motor Spirit returned to many filling stations in Lagos and Ogun states on Saturday and Sunday after a brief relief from the severe scarcity of the product that rocked the country from December to early this month.
The Nigeria Extractive Industries Transparency Initiative on Sunday welcomed the decision by both chambers of the National Assembly to pass the Petroleum Industry Governance Bill and stated that it would help reduce the country’s over N200bn oil sector revenue losses.
The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has allayed the fears of Nigerians and the international community over the inability of the bank to hold the Monetary Policy Committee meeting earlier scheduled for Monday and Tuesday due to the non-confirmation of the MPC nominees by the Senate.
The elevated public debt-service cost in Nigeria and some other countries in Africa calls for concern, Moody’s Investors Service stated in a report at the weekend.
The Nigerian equities market sustained the bull run to hit a nine-year high last week following investors’ buying interest in Tier-2 banking stocks and some other bellwether stocks.
An Abuja-based media firm, Image Merchants Promotion Limited and its promoter, Mallam Yushau Shuaib, have slammed a N200million suit against Access Bank Plc. over an alleged unlawful freezing of their four different accounts with the bank in the past two years.
The Debt Management Office (DMO) will, this week, offer N110 billion worth of FGN bonds in commencement of its 2018 bond issuance programme, prompting expectations of reduced liquidity mop-up operations by the Central Bank of Nigeria (CBN).
The Financial Reporting Council of Nigeria has commenced measures to develop a new National Code of Corporate Governance.
About 7.5 million Nigerians were doing nothing between January 2016 and December 30, 2017, the National Bureau of Statistics has revealed.