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Business News Brief – August 17, 2015.

17
Aug

VANGUARD

Fidelity Bank’s listing of N30bn bonds to boost liquidity
The listing of Fidelity Bank’s N30 billion corporate bonds on the Nigerian Stock Exchange, NSE, is expected to boost liquidity in the Nigerian capital market.[Read More…]

Falling crude price: Value of oil, gas firms down by N273.4bn
The crash in the global price of crude oil has impacted negatively on the performance of the oil and gas sector in the nation’s capital market for the half year 2015.[Read More…]

NNPC to review PSC, JV contracts, others
The Nigerian National Petroleum Corporation, NNPC, yesterday, vowed to undertake a review of all Production Sharing Contracts, Joint Venture Agreements and all other contracts between it and its various partners.[Read More…]

NMRC to raise N29bn in fresh capital
Nigeria Mortgage Refinance Company (NMRC) has concluded arrangement to seek approval from members to raise additional equity capital of N28.5 billion via a shelf registration programme by the end of the month.[Read More…]

THISDAY

Shareholders Laud Somefun’s Appointment as Unity Bank MD
Some shareholders of Unity Bank Plc have applauded the appointment of  Mrs. Oluwatomi Ayodele Somefun as the new Managing Director of the bank, saying it was a good thing to have appointed a new CEO from within the bank.[Read More…]

Diamond Bank Harps on High Financial Standards for MSMEs
Head, Retail Directorate of the Bank Diamond Bank Plc, Aisha Ahmad has urged entrepreneurs of Micro, Small and Medium Enterprises (MSMEs) to imbibe the values of financial discipline and strict corporate financial management in the running of their companies so as to   sustain the rapid growth and development of the sector.[Read More…]

NERC: Judges, Court Injunctions Frustrating Power Sector Reform
The Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, has said injunctions against the commission and other power sector operators are frustrating  the federal government’s objective of ensuring an efficient and  competitive private sector-driven electricity industry.[Read More…]

NCAA Confirms 146 Private Jets in Nigeria
The Nigerian Civil Aviation Authority (NCAA) has confirmed that there are 146 corporate jets in the country of which only 46 were registered in Nigeria while 100 has foreign registration.[Read More…]

PUNCH

Oil companies owe FG N1.38tn–NEITI
Oil companies operating in Nigeria owe the Federal Government over $7bn (N1.38tn), the Nigerian Extractive Industries Transparency Initiative has said.[Read More…]

Dollar scarcity: Banks cut customers’ card spending abroad
Nigerian banks are fast running out of dollars to continue settling their foreign counterpart banks who undertake payments for transactions done overseas by Nigerian naira debit and credit cardholders.[Read More…]

FG, Lagos owe Ikeja Electric N5.27bn
The military, Federal Government ministries, departments and agencies as well as the Lagos State Government are owing Ikeja Electric a sum of N5.276bn for electricity supplied to them, our correspondent has learnt.[Read More…]

THE NATION

Banks to pay $2b on US foreign exchange settlement
Nine banks have agreed to pay $2bn (£1.3bn) in settlements to US investors over claims they rigged foreign exchange rates, according to lawyers.[Read More…]

LEADERSHIP

FAAN Issues Seven – day Final Notice To Debtors
The Federal Airports Authority of Nigeria (FAAN) has given all its debtors a seven – day final demand notice to settle their indebtedness on or before Aug. 24.[Read More…]

Benin Republic To Construct Railway Line, Road To Nigeria
The President of Benin Republic, Boni Yayi, has promised to construct railway line and a road to link up with Nigeria through Kebbi State. He has also proposed to build a dry port at Ilwa where the country also shares border with Nigeria.[Read More…]

RUETERS

Asia dragged down by volatile China stocks, dollar edges up
Asian stocks were dragged lower by volatile Chinese equities on Monday, as relative stability in the yuan failed to assuage underlying concerns that Beijing may push its currency further down after last week’s surprise devaluation.[Read More…]

Libya’s oil output 350,000 to 380,000 bpd -new eastern state oil firm chairman
Libya’s oil production is between 350,000 and 380,000 barrels a day, the new chairman of a state oil firm based in eastern Libya said on Saturday.[Read More…]

BLOOMBERG

Gold Advances to Extend First Weekly Increase Since Mid-June
Gold climbed, extending the first weekly increase since June, after China increased its bullion reserves and billionaire Stan Druckenmiller bought the metal.[Read More…]

fake richard mille
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