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BUSINESS NEWS BRIEF – Wednesday, April 6th, 2016

6
Apr

THE GUARDIAN

Fuel queues end by weekend, says Kachikwu
“Hopefully by tomorrow (today) and Thursday, the fuel queues in Abuja should be over. Hopefully, the same thing will happen in Lagos, and thereafter by the weekend, we should see Kano, Katsina, Sokoto, Port Harcourt and Warri get off the queue list.”[Read More…]

THE NATION

$40m inflows push foreign reserves to $27.9b
Official foreign exchange reserves increased marginally by $40 million in March on a 30-day moving average basis to $27.9 billion, data from the Central Bank of Nigeria (CBN) have shown.[Read More…]

LEADERSHIP

Gov Ikpeazu Signs 2016 Budget Into Law
The Abia State Governor, Dr Okezie Ikpeazu has signed  into law, the 2016 budget of N101. 4 billion.The appropriation law, No 1 of 101.4 billion is made up of 59.2 billion recurrent expenditure and 42.1 capital expenses.[Read More…]

GTB Shareholders Approve N52bn Dividend
Shareholders of Guaranty Trust Bank Plc have approved a total dividend payout of N52.09 billion for the 2015 financial year.The shareholders gave the approval in Lagos, yesterday at the bank’s Annual General Meeting (AGM).[Read More…]

PUNCH

W’Bank, FG to remove solid mineral sector’s obstacles
The Federal Government on Tuesday said it had entered into a partnership with the World Bank Group to address the challenges facing the solid minerals sector in the country.[Read More…]

DMO to borrow N110bn via bonds
The Debt Management Office has said it will raise N110bn ($553m) in naira-denominated bonds on April 13.[Read More…]

THISDAY

NAHCO Invests N2bn on Equipment, to Pay N325m Dividend
Nigerian Aviation Handling Company Plc, (nahco aviance) invested N2 billion on re-fleeting of ground support equipment (GSEs) and inaugurated its  warehouse in Enugu, Enugu State  in 20156 as part of efforts to deliver improved services to customers.[Read More…]

VANGUARD

Nigeria’s Terms of Trade improves in Q4 2015-CBN
THE Central Bank of Nigeria (CBN) yesterday said that the country’s Terms of Trade (TOT) improved in the fourth quarter of 2015. The CBN disclosed this in its Terms of Trade Bulletin for the fourth quarter released yesterday.[Read More…]

Africa Finance Corporation grows asset by 25% in 2015
AFRICA Finance Corporation (AFC) said its 2015 fiscal year results despite a difficult operating environment, delivered strong underlying operating results. It said it achieved 25 per cent growth in its balance sheet, with total assets in excess of $3.2 billion.[Read More…]

DAILYTRUST

Electricity: FG dissolves task force, constitutes power team
The Federal Government has disolved the Presidential Task Force on Power (PTFP) set up by former President Goodluck Jonathan to monitor the implementation of the Road Map on Power, while creating a Power Team in the Vice President’s office, the Daily Trust has learnt.[Read More…]

REUTERS

Asia stocks at three-week lows as China worries grow; oil up
Asian stocks held near three-week lows on Wednesday as concerns about the underlying strength of the Chinese economy dogged investors.[Read More…]

BLOOMBERG

Pfizer to Terminate $160 Billion Merger With Allergan
Pfizer Inc. decided to terminate its $160 billion merger with Allergan Plc, a person familiar with the matter said, marking an end to the largest-ever health-care acquisition as officials in Washington crack down on corporate inversions.[Read More…]

 

 

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