Morning Beats

Banks’ assets hit N34.6trn in 2017
The total assets and liabilities of deposit money banks in Nigeria rose  N34.6 trillion, in 2017.Vanguard

Nigeria makes N7.3tr from oil in 2017—CBN
Nigeria’s total revenue from crude oil rose by 29 percent to N7.3 trillion in 2017, reflecting impact of increases production and in crude oil price.Vanguard

Bank failures: NDIC vows to enforce corporate governance
Nigeria Deposit Insurance Corporation (NDIC) has reiterated its zero tolerance stance against all forms of malpractices, vowing to enforce good corporate governance and transparency to minimise risk of bank failures.Vanguard

Naira depreciates to N360.40/$ in I&E
The naira Thursday depreciated to N360.4 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.Vanguard

Lennox Mall opens in Lekki
Leading indigenous retail giant, Hubmart Stores Limited, has continued in its tradition of bringing satisfaction close to the homes of its teeming customers by opening in Lekki, Lagos, a new outlet called Lennox Mall located beside ”The Place”, Lekki Phase1.Vanguard

MTN Nigeria to list its shares on NSE this year
MTN Nigeria, yesterday, discussed plans to list its shares on Nigerian Stock Exchange, NSE, at its board meeting,  with the aim to launch its Initial Public Offering,  IPO, this year.Vanguard

Fitch affirms Sterling Bank’s ratings

Fitch Ratings has affirmed Sterling Bank’s Long-Term Issuer Default Rating (IDR) of ‘B-’ and National Long-Term Rating of ‘BBB-(nga)’ with a stable outlook for reasons that include its coherent strategy and ability to attract more stable deposits in challenging operating conditions.The Nation

Nigerian firm emerges top at African mining contest

A Nigerian firm, Thor Exploration Limited (also known as Segilola), a gold mining company operating in Osun State, has emerged winner of the 2018 Investment Battlefield for their gold exploration project in the Southwest state.The Nation

Hollandia Evaporated Milk: raising the bar in dairy drink

For a brand that has positioned itself in the minds of consumers as the benchmark for quantity and quality in the evaporated milk category, Hollandia Evaporated Milk  may easily pass for an “all-rounder milk”, which can be used for traditional and non-traditional purposes.The Nation

Oil price slips below $65/bbl

Oil price continued its fall for a fifth day as surging U.S. output and a rising dollar sent crude to its biggest drop in two months. Futures fell as much as one  per cent in New York after Department of Energy data showed U.S. crude production jumped to a record 10.25 million barrels a day last week.The Nation

NEXIM to exporters: access N500b export fund

The Nigerian Export-Import Bank (NEXIM) has called on Small and Medium Scale Entrepreneurs in the Southeast and Delta State to avail themselves of the N500 billion Export Stimulation Facility (ESF), and the N50 billion Export Development Fund being managed by the bank to boost their businesses.The Nation

$2.5bn foreign borrowing’ll not increase total debt – DMO

Everest Amaefule, Abuja The planned borrowing of $2.5bn from foreign sources will not increase the nation’s total debt commitment, the Debt Management Office has assured Nigerians.Punch

Osinbajo inaugurates N4.1bn beverage plant, seeks foreign investments

Ozioma Ubabukoh Vice President Yemi Osinbajo has called on multinational companies to create more job opportunities for Nigerians through sufficient investments in the country.Punch

Ban on Nigeria’s beans export still in force – EU

Okechukwu Nnodim, Abuja The European Union on Thursday insisted that Nigeria must implement appropriate risk management measures and provide required guarantees before it could export dried beans to Europe.Punch

Govt to redeem N762.5bn T-bills with planned Eurobond sale

Stanley Opara with agency report The Federal Government is planning to redeem N762.5bn ($2.5bn) worth of Treasury bills from the proceeds of its planned $2.5bn Eurobond,Punch

Solid minerals export’ll decongest seaports —NPA MD

Anna Okon The Managing Director, Nigerian Ports Authority, Hadiza Bala Usman, on Wednesday inaugurated the first export of manganese, a solid mineral, from the Ikorodu lighter terminal, Lagos.Punch

Fear in Stock Market Spurs South African Fund Manager's Quiet Picks

A sharp slide from record levels has created pockets of opportunity in South African equities, according to a $3 billion fund manager.Bloomberg

Global Stock Slump Continues; China Gets Hit Hard: Markets Wrap

The sell-off in global stocks that briefly looked to have ended mid-week has come back, tipping markets from the U.S. to Asia into declines exceeding 10 percent from their January highs. China, where retail investors dominate, got hit particularly hard Friday.Blomberg

Jim Rogers Says Next Bear Market Will Be Worst in His Life

Jim Rogers, 75, says the next bear market in stocks will be more catastrophic than any other market downturn that he’s lived through.Bloomberg

Cut the risk: how to diversify your investments

Stories abound about a great-uncle who bought shares in a single investment, forgot about it and died before he could find out he was a multimillionaire as a result of his single punt.Business Live SouthAfrica

MTN plans to raise R6-billion from Nigeria share sale

The MTN Group plans to raise about $500-million (approximately R6-billion) from the sale of shares in its Nigerian business during the first half of the year, fulfilling the terms of a deal struck with the West African nation to settle a record fine, according to people familiar with the matter.Business Live South Africa