MARKET UPDATE
AUGUST 22, 2017NIGERIA STOCK EXCHANGE (Market Open) SUMMARY:All Share Index 36,584.44Deals 3,729.00Volume 368,381,759.00Value 6,272,685,687.99Market Cap 12,609,660,207,550.90TOP GAINERSBETAGLAS 59.84 (2.51)FLOURMILL 31 (2.49)NB 2.49 (2.48)GUARANTY 40.7 (1.2)UNILEVER 46 (0.5)TOP LOSERSNESTLE 1200.01 (-9.99)DANGCEM 215.62 (-9.38)STANBIC 38.11 (-0.74)WAPCO 58.5 (-0.5)ZENITHBANK 24 (-0.28)CBN EXCHANGE RATE (NGN)Buying:$USD 304.7GBP 392.4536 EURO 358.571SWISS FRANC 315.2939 YEN 2.7941 Selling:$USD 305.7£GBP 393.7416EURO 359.7478SWISS FRANC 316.3286YEN 2.8033CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) $50.79Natural Gas 2.96 (0.067)Gold 1295.70 (4.10) Silver 17.025 (0.025)Copper 2.985 (0.0455)Wheat 410.25 (-5.75)Coffee 130.45 (-1.25)Cotton 67.44 (0.16)Cocoa 1890.00 (-32.00)
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BUSINESS

Total, Worldline Partner with African Fintech On Digital Solution for Retail Networks

Total (www.Total.com) and Worldline [Euronext: WLN] (www.Worldline.com) signed binding technological, commercial and financing agreements with African fintech InTouch (www.InTouchgroup.net) on July 13, 2017. Under the agreements, Total and Worldline will support the deployment of the Guichet Unique solution in eight African countries — Burkina Faso, Cameroon, Côte d’Ivoire, Kenya, Mali, Morocco, the Republic of Guinea and Senegal. Guichet Unique provides retail networks with ... Read More »

CBN injects $195m into Forex market Ahead of MPC Decisions …Offers $100m to Wholesale segment;

Ahead of the decisions of the Monetary Policy Committee (MPC) on Tuesday, July 25, 2017, the Central Bank of Nigeria (CBN) on Monday, July 24, 2017 boosted liquidity in various segments of the inter-bank foreign exchange market with the total of $195 million. At Monday’s Forex trading, the CBN offered the sum of $100,000,000 as wholesale interventions and allocated the sum of ... Read More »

OPEC Asks Nigeria, Libya To Maintain Current Oil Output

Nigeria and Libya have been asked to keep their current oil output levels, and they remain exempted from current cut-back agreement among Organisation of Petroleum Exporting Countries and non-OPEC producers. This was decided at an emergency meeting of oil ministers from the OPEC and non-OPEC frontline producers like Russia today in St Petersburg, Russia aimed at discussing the state of ... Read More »

Osinbajo Seeks Oil, Gas Sector Reform In Africa

Nigeria’s Acting President, Professor Yemi Osinbajo, has restated the need for African leaders to come up with reforms that will ensure development in the oil and gas sector. Professor Osinbajo expressed confidence that such reforms would go a long way in cushioning the losses incurred as a result of the fall in the price of oil. He said this on ... Read More »

3000MW Power Generation Plan On Course – Ambode

…Lagos, A Shining Example Of Sustainable Development – ICAN President Lagos State Governor, Mr Akinwunmi Ambode on Monday said his administration has already embarked on reform aimed at generating 3000MW of power within the next few years, adding that the initiative, which is on course, would go a long way in scaling up the State’s economy and make life more comfortable for ... Read More »

Financial Technology Association Makes A debut In Nigeria

  A new Group known as the – FinTech Association of Nigeria (FTAN) has made its debut in the country. A statement by the promoters of the Association at the weekend hinted that FTAN has been duly registered with the Corporate Affairs Commission, Abuja. According to the Statement signed by Femi Awoyemi, “The principal object of FTAN is to serve as ... Read More »

N249.6b Funds: Fed Govt urges banks to Take Denial To Court

Banks denying their alleged link to the hoarding of funds due to the Federal Government have been asked to direct their denial to the court. A Federal High Court in Lagos, on Thursday, granted an ex-parte application by the office of the Attorney General of the Federation (AGF) for an order directing the banks to remit the funds to the Federal ... Read More »

Over $100m required to rebrand Etisalat – Experts

Emerging Markets Telecommunication Services Limited, EMTS previously trading as ‘Etisalat Nigeria’ and now 9mobile requires an estimated $100million to perfect the complete reengineering of its network. Although the new management team led by Mr Boye Olusanya was noncommittal at the ceremony to unveil its new logo in Lagos, The Nation reliably gathered that in order to achieve this seamless process ... Read More »

Agriculture, Access to Electricity, Entrepreneurship will create jobs in Africa, says Elumelu

  The Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Tony O. Elumelu, CON, has called on African leaders and development institutions to help address the deepening job and employment crisis bedevilling the continent by lending support and paying more attention towards the agricultural sector, creating access to electricity and developing entrepreneurship.   Elumelu who said this ... Read More »

Council On Works Calls For Provision, Standardization Of Road Signage Nationwide

The National Council on Works rose from its 23rd Meeting in Abuja Thursday with a call on governments at all levels in the country to adhere strictly to the provision and standardization of road traffic signage in order to reduce the incidence of road accidents and ensure comfort and safety for travellers on the nation’s highways.     The Council Meeting, which ... Read More »