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Daily Business News Brief | Friday, April  8th, 2022.

8
Apr

NGX Fosters Sustainable Financial Products Associated with Climate Change, Environmental Challenges – Thisday

With sustainable finance gaining momentum globally, governments and corporate issuers are paying increasing attention to environmental, social and governance (ESG) factors, and investors, regulators and other stakeholders are encouraging more robust ESG practices……………read more

Currency in circulation falls by N42.43bn in two months – Punch

CURRENCY in circulation fell by N42.43bn between January and March, figures obtained from the Central Bank of Nigeria have revealed. The CBN revealed in its data on currency that the currencies, which stood at N3.29tn as of the end of January, fell to N3.25tn by the end of March. The CBN recently warned Deposit Money Banks against accepting mutilated naira notes, explaining that they were not the real currencies in circulation…………….. read more

Nigeria, others at high risk of debt distress, IMF warns – Thisday

Nigeria and 72 other countries are at high risk of debt distress or already in debt distress, according to a new report by the International Monetary Fund.  The report, titled “Restructuring debt of poorer nations requires more efficient coordination,” noted that low-income countries face fewer debt challenges today than they did 25 years ago, thanks in particular to the Heavily Indebted Poor Countries initiative, which slashed unmanageable debt burdens across sub-Saharan Africa and other regions…………………read more

NNPC pays $3.68bn, owes Total, Agip, Shell $1.01bn cash call debts -Vanguard

The Nigerian National Petroleum Company Limited has so far paid a total of $3.68bn out of the $4.689bn cash call debt to five international oil companies that are its joint venture partners. The latest data obtained from the oil firm on Wednesday on the cash call arrears repayment showed that while the NNPC had completed the repayments to Mobil Producing Nigeria and Chevron Nigeria Limited, it was still owing three other IOCs.  The three IOCs include Shell Petroleum Development Company, Total Exploration and Production Nigeria, and Nigeria Agip Oil Company………………….read more

2022 budget deficit jumps to N7.35tn, Buhari to borrow N965bn – Thisday

The President, Major General Muhammadu Buhari (retd.), has written a letter to the House of Representatives, informing the parliament that the deficit in the 2022 Appropriation Act has risen by N965.42bn to N7.35tn.  Consequently, the President said the Federal Government would borrow funds to fill the gap.  Buhari, therefore, called for an amendment to the Federal Government’s budget and the fiscal framework for 2022……………………..read more

fake richard mille
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