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MTN’s shares drop 23% after CBN’s $8.1bn sanction The shares of the MTN Group dropped as much as 23 per cent to a nine-year low, yesterday, a day after the Central Bank of Nigeria (CBN) ordered the telecoms firm to repatriate $8.1 billion alleged to have been sent abroad illegally. Guardian AfCFTA ratification deadline suffers setback with only seven signatories The African Continental Free Trade Agreement (AfCFTA), may not come into force anytime soon as only seven of the 22 countries needed to ratify it, have signed the deal. Guardian How Nigeria Airways ex-workers’ N45b benefit got stuck again Rumour of the Senate’s approval of N45 billion brought a huge sigh of relief to the retirees. Guardian ‘Capital importation may fall further in telecoms sector’ Capital importation of telecommunications companies, which fell by 94 per cent in second quarter, may fall further, if the economy continues its steep fall. Guardian Partnering for growth in Africa Many

Lafarge Africa plans EGM, seeks shareholders’ nod to raise N90b fresh fund The board of Lafarge Africa Plc, on Monday, wrote the Nigerian Stock Exchange (NSE), announcing plans for an Extra-Ordinary General Meeting (EGM), on September 25, 2018, Guardian Uncertainties, political tensions may cripple investment in Nigeria’s oil sector Stakeholders in the oil and gas, and investment sectors have said growing socio-economic uncertainties and political instability could further quash inflow of investment into the country Guardian Non-oil exporters advocate value-addition, revamped processes to check losses To reduce losses suffered from long haulage and shipping cycles as a result of prolonged rehabilitation of access routes leading to the ports, non-oil exporters are urging members to embrace value-addition, and re-jig their export processes as well as value-chain operations. Guardian Profit taking drags stock market indices by N57b Hopes for a bulls’ run dimmed

FG, AMCON undecided over Arik, Aero Contractors airlines The Federal Government is at the crossroads in deciding what to do with the duo of Arik Air, and Aero Contractors that are currently being managed by the Asset Management Corporation of Nigeria (AMCON). Guardian Used clothing as unlikely competition for Nigerian textile manufacturers For many micro and small businesses who deal in clothing and apparels, second-hand clothes from many developed countries dominate their stalls, except in cases where cheaper materials are imported from Asia or sub-standard materials smuggled from neighbouring countries Guardian One arms cache too many, a need for thorough investigation The recent seizure of a Russian vessel allegedly conveying illegal weapons to Lagos ports, which was intercepted in South Africa, brings to five this year, the number of times items relating to arms, ammunition and other security-related shipment are illegally imported smuggled into Nigeria through v

Tanker drivers commend government for improving road infrastructure The Petrol Tanker Drivers (PTD) branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has commended the Minister of Works, Power, and Housing, Babatunde Raji Fashola, on improvement in infrastructure development across the country. Guardian Bears emerge as index drops by 0.3% amid investors’ apathy The volatile pattern of the market, occasioned by the ongoing anxiety in Nigeria’s political environment has continued to drive cautious trading by investors on the Nigerian Stock Exchange (NSE), as the All-share index depreciates by 0.3% yesterday. Guardian Egina FPSO sail-away buoys oil, gas production increase Anticipated increase by 200,000 barrels of oil per day to Nigeria’s oil production (approximately 10 per cent of the country’s total oil production) received impetus following the successful sail-away of the Egina Floating, Production, Storage and Offloading (FPSO). Guardian

The Guardian eyes entry into the Nigerian Stock Exchange The President, National Council of the Nigerian Stock Exchange (NSE);The CEO, NSE, members of the Executive Committee; thank you so much for according Guardian Newspapers Limited Guardian Banking sector’s SANEF and search for 40m new identities The nation’s banking sector is taking another big leap and responsibility with the Shared Agent Network Expansion Facility (SANEF), as it pursues the realisation of a plan that wholly reflects commitments to achieving the 80 per cent target on financial inclusion, in about 28 months from now. Guardian Renewed interests in low price stocks buoy indices, pare losses At the end of transactions on Friday, the gains recorded from the previous session were enough to spur a rebound of the indices at the Nigeria Stock Exchange (NSE). Guardian Ilori, Apampa urge underwriters to build trust UNDERWRITERS have been urged to build Nigerians’trust in insurance penetration, experts

It was a three days trading at the Nigerian Stock Exchange, with the Federal Government declaring Tuesday and Wednesday as public holidays for the Muslim faithfuls. The All Share index gain marginal in what seems to be a Sallah gift to the Market after a dismal opening on Monday before the break. The index was up 0.45% to close the week at 35,426.17. This brought the year to date return of the ASI to (7.37%) on the negative side of the number line. The bear ruled supreme with a market breadth of 30 in favor of the losers. EQUITY A total turnover of 968.947 million shares worth N10.246 billion in 9,654 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.147 billion shares valued at N12.546 billion that exchanged hands last week in 16,649 deals. ETPs Also traded during the week were a total of 9,205 units of Exchange Traded Products (ETPs) valued at N201,119.15 executed in 4 deals, compared with a total of 1,793 units valued

Nigeria’s oil export earnings decline 21% amid rising prices Nigeria’s net oil export earnings this year (between January and July), have declined by about 21 per cent compared to 2017 performance.August 2018 data obtained from Guardian Privatisation Council appoints transaction advisers for BPE The National Council on Privatisation (NCP), has approved the appointment of advisers for three transactions undertaken by the Bureau of Public Enterprises (BPE), for the current year, as part of the Federal Government’s reform strategy. Guardian Eaton raises stake in NEM, buys 130 million shares Eaton Acquisitions Limited, an investment company that focuses on identifying listed companies with high growth potential and investing, has announced the completion of the purchase of 130 million shares of NEM Insurance Plc. Guardian U.S. import of Nigeria crude in record fall United States (U.S.) crude oil imports from Nigeria in July plunged to its lowest level in three year

Why multinationals, IOCs defy listing on NSE An IPO is the first time that the stock of a private company is offered to the public. Smaller, younger companies seeking capital to expand often issue IPOs, but this can also be done by large privately owned companies looking to become publicly traded. Guardian Buhari to commission $250m International Breweries in Ogun President Muhammadu Buhari will on Tuesday, next week inaugurate the $250million state-of-the-art International Breweries in Ogun State. Guardian NNPC, others sign pact to develop Bayelsa state’s oil communities The Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture have signed a Global Memorandum of Understanding (GMoU) with KEFFES Rural Development Foundation (KDRF) to better the lot of host communities in Bayelsa State. Guardian ‘Buhari should woo Chinese investors to fix power sector during Beijing visit’ On

  Political tension, sell-off sustain pressure on NSE’s indices Political tension ahead of the 2019 general elections, persistent sell-offs, as a reaction and bargain hunting by investors, have continued to spur free fall of equity prices. Guardian NSE’s ‘bell ringing’ elicits reactions, as stakeholders differ on market’s impact With the myriads of problems facing the nation’s stock market, stakeholders have expressed divergent views on the relevance of the routine ‘Bell Ringing’ exercise at the Nigerian Stock Exchange (NSE) and the impact on the market. Guardian Emefiele, Elumelu, IMF for market dealers’ confab The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele; Chairman of UBA, Heirs Holdings and Transcorp, Tony Elumelu; and the Country Chief, International Monetary Fund (IMF), Amine Mati, are among the dignitaries who have confirmed their attendance at the 2018 Financial Markets Conference, organised by the Financial Markets Dealers Association (

The All Share index lost marginal as the last minutes rally on Friday save us another scandalously week of trading. The index was down 0.51% to close the week at 35,266.29. This brought the year to date return of the ASI to (7.78%) solidifying itself on the negative side of the number line. The bear ruled supreme with a market breath of 40 in favor of the losers.  EQUITY A total turnover of 1.147 billion shares worth N12.546 billion in 16,649 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 925.630 million shares valued at N8.333 billion that exchanged hands last week in 15,565 deals. ETPs Also traded during the week were a total of 1,793 units of Exchange Traded Products (ETPs) valued at N282,571.59 executed in 9 deals, compared with a total of 1,727 units valued at N333,925.78 that was transacted last week in 9 deals BONDS A total of 2,647 units of Federal Government Bond valued at N2.725 million were traded this wee