Morning Beats

Lotus Capital lists N1.49b fixed income fund on NSE

Lotus Capital Halal Investments Limited has listed its N1.49 billion fixed income fund on the memorandum board of the Nigerian Stock Exchange (NSE), paving the way for the trading of the units on the Exchange.The Nation

About N1.6tr pension fund underutilized

About N1.6 trillion pension fund, representing 20 per cent of the total N7.94trillion  available for investment in infrastructure and instruments has remained untapped,The Nation

Banks face tough margins as yields dip

Profit rises to N256b ABOUT two-thirds of banks witnessed a contraction in their profitability in the first quarter (Q1) of this year,  struggling between relatively steady income lines and declining yields on transactions.The Nation

Stock Exchange improves equities efficiency with new trading structure

The Nigerian Stock Exchange (NSE) will next week launch a new market structure aimed at creating an optimal market design, which facilitates improved market depth, liquidity provision and price efficiency.The Nation

Banks to tighten loan conditions amidst increased lending activities

BANKS said they will further tighten loan conditions in the third quarter 2018, Q3’18, even as they increase lending to the various segments of the economy.Vanguard

Terrorism undermines Nigeria’s GDP by $437m — Lloyds

LLOYD’s, world leading insurer, has warned that Nigeria could lose $437 million, about N157.32 billion, of its Gross Domestic Product, GDP, annually   to terrorism, to rank third in the world on forecast GDP loss. Vanguard

Dangote Sugar commits N121bn on backward integration programme

THE Chairman of Dangote Sugar Refinery, DSR Plc, Alhaji Aliko Dangote, has said that the company spent N121billion in 2017 in pursuit of its backward integration programme.Vanguard

OPEC’s decision to increase oil prices taken without Trump’s or political influence – Barkindo

The Secretary-General of OPEC, Mr Muhammad Barkindo, has dismissed suggestions that pressure by Mr Donald Trump, US President, played a role in OPEC’s decision to increase oil production.Vanguard

NNPC loses N547bn in three years

The group monetary loss of the Nigerian National Petroleum Corporation for 2015, 2016 and 2017 is N547bn, the latest review of the oil firm’s financial and operations reports in the period has revealed.Punch

External debt servicing may pose a problem ― Rewane

The Managing Director/Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has raised concern over the nation’s ability to service its foreign debts.Punch

Stocks fall further, NSE reviews market indices’ composition

The market capitalisation of equities listed on the Nigerian Stock Exchange continued its downward trend last week, falling by 2.74 per cent at the end of trading.Punch

PenCom allows pension contributors to pick investment options

Beginning from July, workers under the Contributory Pension Scheme will be allowed to go to their Pension Fund Administrators to choose how they want the money in their Retirement Savings Accounts to be invested so as to gain higher interest based on the new multi-fund structurePunch

Interbank lending falls as govt redeems N444 billion T-Bills

I&E Window transacts $900m, as reserves stagnate at $47.6 billion

There was near excess in the quantity of money in circulation last week, save for the increased mop up exercise by the Central Bank of Nigeria (CBN), following the repayments of N66.7 billion and N377.6 billion worth of Treasury Bills (T-Bills) and Open Market Operations.