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$210m forex injection lifts naira The Central Bank of Nigeria (CBN) yesterday injected $210 million, to meet customers’ requests in various segments of the foreign exchange market The Nation Promasidor gets BoI’s N5.6b loan Promasidor Nigeria Limited, a leading food company, has secured a N5.6 billion credit from the Bank of Industry (BoI) to support its aggressive expansion programmes. The Nation CBN’s PMI shows manufacturing expanding The Manufacturing Purchasing Managers’ Index Survey conducted by the Central Bank of Nigeria (CBN) has shown   56.8 index points, indicating expansion in the manufacturing sector for the 16th consecutive month. The Nation Equities lose N456b in July despite H1 earnings Nigerian equities lost N456 billion in July as political risks overshadowed potential corporate earnings in first half. The Nation ‘Shell, NNPC still negotiating $10b Bonga field contract’ Royal Dutch Shell and its partners will decide next year on whether to

WAICA Re’s investors to get $2.5 million dividend WAICA Re has unveiled plans to offer $2.5 million dividend to investors, as the company grew its profit before tax for the financial year ended December 31, 2017, by 28 per cent. Guardian Lafarge Africa to reduce leverage position with N90b fresh capital Lafarge Africa Plc has announced plans to raise up to N90billion by way of rights to existing shareholders, subject to all corporate and regulatory approvals. Guardian Employers warn govts against multiple taxes The Nigeria Employers’ Consultative Association (NECA) has urged state governments to operate within the ambit of the law by creating an enabling environment for businesses to thrive and continue to contribute to the growth of the nation. Guardian LPG, kerosene consumer prices drop year-on-year Consumer prices of Liquefied Petroleum Gas (LPG/cooking gas), and national Household Kerosene dropped year-on-year in tandem with the declining inflation level

Reality dawns as debts wobble under sustainability test Nigeria failed the test conducted to determine its ability to sustain ongoing borrowings and their repayments in the next five and 10 years, an affirmation of the growing fears over increasing level of borrowings and huge costs incurred in servicing them. Guardian Why sector products are hard to sell in Nigeria Insurance business remains unviable and its products hard to sell in the Nigerian market place. Guardian Again, corporate profits take hit from socio-economic uncertainties The continued tensed political environment, reported killings across the country, coupled with election fears are not assuring to both domestic and foreign investors and it is already telling on corporate performance. Guardian NNPC, DPR must explain zero revenue remittance, says Auditor-General THE Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) have cases to answer over non-remittan

The Market opened on a positive note but lost the next two consecutive days but however gained for the next two days after to close on a positive note on Friday.  The Market gained three out of the five trading sessions of the week.  The All Share index gained 0.09 to close the week at 36,636.97. This brought the year to date return of the ASI to (4.20) still on the negative side of the number line. EQUITY A total turnover of 1.417 billion shares worth N16.739 billion in 19,832 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.665 billion shares valued at N14.834 billion that exchanged hands last week in 18,795 deals. ETPs Also traded during the week were a total of 344 units of Exchange Traded Products (ETPs) valued at N50,021.24 executed in 5 deals, compared with a total of 340 units valued at N33,660.20 that was transacted last week in 6 deals. BONDS A total of 7,518 units of Federal Government Bond valued at N7.668 m

NNPC calls for renewable energy revolution to end fossil fuel The Nigerian National Petroleum Corporation (NNPC) in Abuja on Wednesday said the world needs a clean energy revolution in order to break its inordinate dependence on fossil energy fuels. Guardian Liquidity crisis persists despite N701bn power sector intervention fund Despite approval by the Federal Executive Council (FEC), for a N701-billion Central Bank of Nigeria (CBN) facility to ameliorate liquidity crisis in the power sector, funding challenges remain a big issue. Guardian Sigma Pensions’ Sharia funds to drive private equity investments Sigma Pensions has commenced plans to boost investments in private equity through Ethical Funds otherwise known as Sharia Funds as part of efforts to increase the number of sources of capitals for borrowers Guardian Government to review free trade zones’ incentives for competitiveness The Nigeria Industrial Council and Competiveness Advisory Council has moved to

Foreign carriers dominate as local air travel market shrinks Poor outing of Nigerian airlines on international routes, has forced the actual air travel market in the country to shrink. Estimates of capacity and frequencies recorded at the airports are Guardian Regulators yet to conclude deal on sale of 9Mobile The meeting convened by the Central Bank of Nigeria (CBN), Nigeria Communications Commission (NCC) and other stakeholders to conclude the 9Mobile sales and take a stand on the deal may have ended without any agreement reached. Guardian LASACO unveils solutions for accident victims As a strategy of boosting its customer satisfaction drive, LASACO Assurance Plc has unveiled a speedy and more responsive claim settlement solution that would make policyholders get compensation under their motor insurance policies faster. The Nation Customs arrests 10, seizes contraband worth over N1.1b Contraband worth N1.1billion were impounded between the middle of last month a

Seaport operations flounder in Apapa traffic As struggle to sanitise the ports continues, leaving activities of importation and exportation of goods in the doldrums. The terminal operators are counting their losses. Guardian Investors lose N93 billion as MPC maintains status quo The decision by the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), to maintain status quo for the tenth consecutive session triggered renewed profit-taking at the Nigeria Stock Exchange (NSE) yesterday, causing investors’ wealth to dip by N93billion. Guardian CBN holds monetary rates steady for two years Foe the 12th consecutive time in two years, the Central Bank of Nigeria (CBN) has retained all the monetary policy rates for the country. Guardian First Bank to redeem $300m debt two years ahead A fortnight from now, First Bank of Nigeria Limited will redeem its $300million fixed rate subordinated Note held by FBN Finance Company B.V., with two years before the due da

Nigeria’s inflation drops to 11.23% Inflation has dropped for the 17th consecutive times since January 2017, the National Bureau of Statistics (NBS) report indicates. The Nation Osinbajo advises bourse on long term capital provision The Federal Government has urged capital market operators to rise to the challenges of providing long term capital needed to fund development. The Nation NAHCO assures higher return on business diversification drive Nigerian Aviation Handling Company (Nahco) Plc would take advantage of Nigerian economic diversification and government policies to boost its business diversification and increase returns to shareholders. The Nation Agric value to hit N91trl Nigeria’s agricultural sector would be yielding about $256 million, (about N91trillion) by year 2050, an expert said yesterday. The Nation High spectrum prices hit Nigeria, others Spectrum prices in Nigeria and other developing countries are, on average, more than three times higher

U.S. firms in Nigeria generate N2.6tr United States’ companies operating in Nigeria generated revenue worth more than N2.6 trillion in 2017, a survey conducted by the American Business Council, in collaboration with Guardian Allianz Group acquires Ensure Insurance with 99% complete shareholding Allianz Group said it has completed the acquisition of 99.03 per cent of the shares in a Nigerian insurer- Ensure Insurance Plc, from its core shareholder- Greenoaks Global Holdings Limited (GGH) Guardian ARM Life pays N412m claims, restrategises life business ARM Life Insurance said it paid a total of N412 million claims to policyholders to further underscore the company’s commitment to prompt settlement of payments and efficient customer services. Guardian ‘Anchor borrower fund not for defaulting farmers’ The Central Bank of Nigeria (CBN) has restated its resolve not to fund defaulting farmers under its pet-project- Anchor Borrowers Programme (ABP). Guardian NIA to firm

The Market opened on a negative note and continued through Thursday  the 4th trading day of the week to halt temporarily with a marginal gain on Friday. The Market lost four out of the five trading sessions of the week.  The All Share index lost  2.11 to close the week at 36,603.44. This brought the year to date return of the ASI to (4.29) on the negative side of the number line. EQUITY A total turnover of 1.665 billion shares worth N14.834 billion in 18,795 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.219 billion shares valued at N17.333 billion that exchanged hands last week in 17,362 deals. ETPs Also traded during the week were a total of 340 units of Exchange Traded Products (ETPs) valued at N33,660.20 executed in 6 deals, compared with a total of 79,304 units valued at N1.491 million that was transacted last week in 18 deals. BONDS A total of 17,251 units of Federal Government Bond valued at N17.943 milli