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BUSINESS NEWS BRIEF – Monday, April 25th, 2016

25
Apr

PUNCH

PH, Warri refineries now producing petrol – Kachikwu
The Minister of State for Petroleum Resources and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has announced that the Port Harcourt Refining Company and the Warri Refining and Petrochemical Company are now producing a combined volume of seven million litres of petrol daily.[Read More…]

CBN fines Zenith, UBA, GTBank, Sterling N3.2bn
The Central Bank of Nigeria has imposed a total fine of N3.2bn on United Bank for Africa Plc, Zenith Bank Plc, Guaranty Trust Bank Plc, and Sterling Bank Plc for committing various kinds of regulatory infractions.[Read More…]

Nigeria’ll be highest exporter of cement by 2018 – Dangote
The President, Dangote Group, Alhaji Aliko Dangote, has said that Nigeria will be the highest exporter of cement by the year 2018.Dangote stated this while receiving The Guardian Man of The Year 2015 award in Lagos.[Read More…]

DAILY TRUST

FG to settle creditors for states debt after relief
Further to the states’ debt repayment deferral for the month of March that was announced last Thursday, the Federal Ministry of Finance has said that the debt repayments due to the states’ creditors will be fully paid notwithstanding the deferral.[Read More…]

THISDAY

Buhari: Nigeria Derived No Benefit from Naira Devaluations in the Past
For the umpteenth time, President Muhammadu Buhari has insisted that he was yet to be convinced that the vast majority of ordinary Nigerians would derive any tangible benefit from a devaluation of the Naira.[Read More…]

Bond Yields Rise on Tight Market Liquidity
Bond yields climbed by 0.6 per cent last week as the market continued to price in tighter liquidity and higher interest rate expectation into valuation.[Read More…]

THE NATION

Interbank rate rises as market liquidity falls to N232.9b
The overnight interbank rate rose for the second consecutive week to an average of six per cent last Friday, from 4.5 per cent, as commercial lenders’ liquidity level dropped on payment for treasury bills purchases.[Read More…]

Nigeria’s LNG market shifts to Asia, Japan leads
With the discovery of shale gas in the United States, the Nigeria Liquefied Natural Gas Limited (NLNG) has shifted focus to Asia. Japan as one of its global biggest markets, The Nation has learnt.[Read More…]

LEADERSHIP

Forex: Petroleum Products, School Fees Take $20m From Reserves In 1 Week
Petroluem products and school fees accounted for over $20 million of the $45 million obtained from the Central Bank of Nigeria (CBN) by four banks last week for several purposes.[Read More…]

REUTERS

Asia stocks, dollar slip as markets await Fed, BOJ meetings
Asian shares and the dollar dropped on Monday as investors took profits from the currency’s recent gains ahead of central bank meetings in the United States and Japan this week.[Read More…]

BLOOMBERG

China Plans $11 Billion Second Chengdu Airport to Meet Demand
China plans to spend as much as 71.9 billion yuan ($11 billion) on a second airport in the southwestern city of Chengdu to help meet growing demand for air travel in the world’s second-biggest economy.[Read More…]

 

 

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