At N513m, Securities Lending on NGX Hits Historical Record – Thisday
The Nigerian Exchange (NGX) Limited has disclosed that value of Securities Lending market increased to N513million as at 20 August 2021. According to NGX’s most recent report, there has been an uptick in stakeholders’ participation as 2.3 million units of MTN Nigeria valued at N395.6 million was borrowed. Securities lending is the market practice of transferring shares for a fee from a holder (the lender) to another party (the borrower), with the borrower agreeing to return the securities to the lender either on demand or at the end of the agreed loan term……………read more
NNPC pegs 2022 base oil price at $57/barrel – Punch
The Nigerian National Petroleum Corporation on Wednesday provided a base crude oil price scenario in the medium term, stating that the commodity was pegged at $57/barrel for 2022. Group Managing Director, NNPC, Mele Kyari, who disclosed this in a statement issued by the firm in Abuja, also said the base oil price for 2023 was $61/barrel. Kyari explained that the assumptions were arrived at after a careful appraisal of the three-year historical dated Brent oil price average of $59.07/barrel premised on Platts Spot Prices……………..read more
CBN Approval Delays GTCO, Stanbic IBTC H1 2021 Audited Result – Thisday
Guaranty Trust Holdings Company (GTCO) Plc has joined Stanbic IBTC Holdings Plc and United Bank for Africa (UBA) Plc to explain the delay in the release of half year (H1) audited result for the period ended June 30, 2021. The Company Secretary/General Counsel, GTCO, Erhi Obebeduo in a statement yesterday said the Holdings company has taken steps to finalise the audited H1 financial statement (AFS) for the period ended June 30, 2021 with the external auditors and some submitted to the Central Bank of Nigeria (CBN) for approval before release of some to the market………………….read more
Nigeria’s data usage rises by 202% in three years – Punch
Data usage in Nigeria surged by 202.08 per cent in three years, according to data from the Nigerian Communications Commission. According to the subscriber/network data reports of 2018, 2019, and 2020, data usage rose from 68,154.12 terabytes in 2018 to 125,149.86TB in 2019 and 205,880.4TB in 2020. The total national and local outgoing voice calls were 121,935,927,123.15 in 2018. The calls grew to 149,584,465,210 in 2019 to 150,825,830,687.40………………read more
CBN threatens prosecution of forex policy defaulters – Punch
Banks have warned that defaulters of the new foreign exchange policy may face criminal prosecution by the Central Bank of Nigeria. The banks in emails to their customers said that defaulters of the new FX foreign exchange policy may face sanctions such as being barred from accessing FX from the official FX market, restrictions on their bank accounts as may be determined by the CBN as well as criminal prosecution………………..read more