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

Whistle-blower policy, one of Buhari’s main achievements – Adeosun

The Minister of Finance, Kemi Adeosun, has said the whistle-blower policy of the federal government is one of the current administration’s successful initiatives. She said this on Tuesday in Abuja at a seminar organised by the Bureau of Public Service Reforms, BPSR, on “The Whistleblower Policy and its Implication for Public Servants’’. The policy was introduced in December 2016 by ... Read More »

CBN injects $364 m into Inter-Bank Forex Market

…Eases payment for Port charges to NPA, NIMASA   The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of Tuesday’s forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. ... Read More »

FIRS, others share data of high income earners

The Joint Tax Board (JTB) and the Federal Inland Revenue Service (FIRS) have started sharing data of high net worth individuals to profile income earners and taxpayers and get them to pay appropriate taxes. Twelve states have signed the Memorandum of Understanding (MoU) under the Voluntary Assets and Income Declaration Scheme (VAIDS). The JTB also announced yesterday that it had ... Read More »

Banks remove $1.2b 9Mobile debt from books

The 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year. The mobile company took the loan four years ago from a consortium of banks. It failed to repay the loan due to a currency crisis and the economic recession. In ... Read More »

FG approves N39 billion loan for supply of electricity meters —Fashola

The Federal Government has approved N39 billion loan to Electricity Distribution Companies (DISCOs) for the supply of meters, Minister of Power, Works and Housing, Babatunde Fashola, has disclosed. The minister made the disclosure on Monday in Kano at the 18th Monthly Power Sector Stakeholders Meeting hosted by Kano Electricity Distribution Company (KEDCO). He said the gesture was part of power sector recovery ... Read More »

Naira falls against dollar

The naira on Monday depreciated further against the dollar at the parallel market, exchanging at N367 to the dollar. The Nigerian currency lost one point from N366 posted on Friday, while the Pound Sterling and the Euro closed at N476 and N432. At the Bureau De Change segment, the naira was sold at N363 to the dollar, while the Pound Sterling and the ... Read More »

Ilegal Mining: 16 Chinese, eight Nigerians arrested in Zurak, Plateau State

….as Minister declares special mining zone in Zurak … illegal Mining kingpin, Usman Abubakar (aka Dan China) declared wanted by NSA   Sixteen Chinese nationals and eight Nigerians involved in massive illegal mining were on Monday arrested in Zurak, Wase Local Government, Plateau State on the orders of the National Security Adviser (NSA), Brig-Gen Babagana Monguno (rtd), when the NSA ... Read More »

US, FG back 20,000bpd oil refinery in Lagos

The construction of a 20,000-barrels-per-day crude oil refinery in Lagos by a Nigerian petrochemical and refining company has received a major boost with the signing of a grant by the United States Trade and Development Agency. Similarly, the Federal Government has pledged to provide the necessary support to the company towards the completion of the project aimed at ramping up ... Read More »

Nigeria to begin fertiliser exportation

The Executive Secretary of the Fertiliser Producers and Suppliers Association (FEPSAN), Alhaji Ahmed Rabiu Kwa, says Nigeria will begin to export fertiliser in the next five years going by the programme of the Presidential Fertiliser Initiative (PFI). Kwa in an interview with the News Agency of Nigeria (NAN) in Abuja said the PFI of the Muhammadu Buhari-led administration had seen ... Read More »

​DMO Solicits Media Support In Debt Management

The Director General of the Debt Management Office (DMO), Ms. Patience Oniha, has solicited the support of the media in informing Nigerians on the management of the country’s debt stock and government’s drive towards infrastructural development. Oniha, who made the call in Lagos weekend when she met some editors, gave the assurance that the DMO will continue to be in ... Read More »