PUNCH
We can save N985bn from 450 agencies – Adeosun
The Minister of Finance, Mrs. Kemi Adeosun, says she can save up to $5bn (N985bn) annually by cracking down on waste and leakages in over 450 Federal Government Ministries, Departments and Agencies.[Read More…]
FG to monitor crude oil movement electronically
The Federal Government on Tuesday said that it would be able to monitor the movement of crude oil and gas out of the country through the implementation of the e-Government Master Plan 2020.[Read More…]
THISDAY
Access Bank Shut as Enraged Customer Begins Execution of N636m Credit Judgment
Banking activities were on Tuesday grounded at all the branches of Access Bank within Enugu state as F. G. Onyenewe Motors Nigeria began the execution of a N636 million credit judgment it obtained against the bank.[Read More…]
GUARDIAN
CBN charges bank directors on corporate governance, money laundering
As part of efforts to combat financial crime and money laundry, the Central Bank of Nigeria has charged bank directors to devise effective ways to tackle the assessed high-level frauds bedevilling the industry.[Read More…]
Firms stake $2.2b on LFTZ as deep seaport gulps $1.65b
THE Lagos Free Trade Zone (LFTZ) has attracted not less than $2.2 billion (N438.4 billion) investment.[Read More…]
VANGUARD
FG to privatise pipelines network —Kachikwu
LAGOS—Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday said that the Federal Government is set to privatise the petroleum products pipeline network in the country to minimise the issue of perennial vandalism and ensure availability of products in the country next year.[Read More…]
LEADERSHIP
$14bn Needed To Revive Lake Chad – PMB
President Muhammadu Buhari yesterday in Paris asked developed countries to make strong financial commitments to the $14 billion urgently needed to revive the Lake Chad and save communities dependent on the river from extinction.[Read More…]
THE NATION
Nigeria’s largest power plant owed N40b
Nigeria’s largest power plant, Egbin Power Plc, said it is owed more than N40 billion ($202 million) and is facing persistent gas supply shortages despite boosting capacity, highlighting continuing challenges in ending daily blackouts since private companies took over the state utilities two years ago.[Read More…]
REUTERS
Asia stocks wary, dollar knocked after weak U.S. data
Asian stock markets wavered on Wednesday after downbeat U.S. manufacturing data raised questions about how aggressive the Federal Reserve would be when hiking interest rates, while the dollar retreated from 8-1/2-month highs.[Read More…]
BLOOMBERG
Hong Kong Yuan Interest Rate at Two-Month High on Funding Crunch
The cost of borrowing yuan in Hong Kong rose to a two-month high as a suspension of cross-border financing and a Dim Sum sovereign bond sale reduced the availability of funds.[Read More…]