Morning Beats

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 date.Guardian

Deregulation, panacea to oil crisis, says MOMAN’s ex-scribe Obafemi Olawore

Deregulation of Nigeria’s downstream oil industry has been identified as the panacea for the myriad of issues facing the sector, as non-government interference being practiced in developed countries will open up the sector for development.Guardian

CBN plans real sector single digit borrowing

Bank retains MPR at 14 per cent To encourage banks to give credit to the real sector of the economy, at single digit rates, the Central Bank of Nigeria (CBN), has offered to complement the banks.The Nation

PenOp, NSE strategise on multi-fund structure

The Pension Fund Operators Association of Nigeria (PenOP) members have met the Nigerian Stock Exchange (NSE) to discuss how the capital market can be developed, especially in light of the Multi-Fund Structure that was  kicked off by the pensions industry recently.Guardian

DMO eyes N208b Green Bond before year-end

The Debt Management Office (DMO) is planning a green bond programme before the end of the year to raise funds for environmental projects, a junior minister for the environment said at the weekend. Ibrahim Jibril said the capital market could see issues of around N208 billion ($682 million) this year to fund projects to reduce carbon emissions.The Nation

Oando, JVpartners boost road infrastructure

Oando Plc in conjunction with its Joint Venture (JV) partners, the Nigerian National Petroleum Corporation (NNPC) and Nigerian Agip Oil Company (NAOC), has commissioned road projects with drainage systems in its host communities in Imo, Rivers and Bayelsa states.The Nation

Buhari welcomes moves to import crude from Niger Republic

Nigeria, Niger sign MoU President Muhammadu Buhari yesterday hailed the move by Nigeria to import crude oil from Niger Republic.The Nation

NIPCO shareholders okay N563m dividend

Shareholders of NIPCO Plc have approved the payment of N563 million as dividends for last year.The Nation

Naira stable at N358/$

The naira Tuesday was stable at N358 per dollar in the parallel market.Vanguard

IMF says dollar over – valued

The International Monetary Fund (IMF) said on Tuesday that the U.S. dollar was over-valued, and that the value could add to growth risks and trade tensions.Vanguard

Dangote arranges $4.5bn financing for refinery

The President, Dangote Industries Limited, Aliko Dangote, has arranged more than $4.5bn in debt financing for his crude oil refinery project and aims to start production in early 2020.Punch