1. Find Out Who The Bank Debtors Are – Banks are exposing the businesses and people behind the mountain of debts threatening to kill the sector – courtesy of a Central Bank of Nigeria (CBN) directive that expired at the weekend.Barring unforeseen developments, some of the banks will begin the publication of their debtors’ list today
2. [NOW, WHO IS KING?] Naira Trades for N210 with the Price ‘Expected’ to fall even Lower – Reports reaching Nairametrics suggest black market operators are currently buying dollars from speculators at a price of N210. They are in turn selling to Speculators at a price range of N215 to N220 depending on where you are buying from.
3.Buhari Appoints New GMD For NNPC – Find Out Who. President Muhammadu Buhari has approved the appointment of Dr. Emmanuel Ibe Kachikwu as the new Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC).
4. [DEBTORS LIST] Fidelity Bank Names Starcomms Limited, 25 Others in N6.126bn Debt – In line with the bankers’ committee directive, Fidelity Bank Plc put the amount of debt owed by its delinquent debtors at N6.126 billion
5. [WINTER IS COMING] First Bank’s Rising Loan Losses Is About To Spell Doom for Its Balance Sheet –FBN Holding Plc (FBHN) is on dangerous grounds as Non Performing Loans (NPLs) spiked in the half year 2015 period. The high level of NPLs will continue to exert strong pressure on FBHN balance sheet, with possible effect on credit extension or loans to customers.
6. All NNPC Group Executive Directors Sacked – Nairametrics has learned that all of the Nigerian National Petroleum Corporation Group Executive Directors (GEDs) have been sacked effective immediately. This news comes only one day after President Buhari appointed Emmanuel Ibe Kachikwu as the Group Managing Director of the NNPC.
7. CBN Issues New Circular Explaining How You Can Now Buy BTA, PTA and How You Can Withdraw You FX from Your Bank – The Central Bank of Nigeria released a circular Wednesday confirming its support for the decision by deposit banks to stop receiving forex cash deposits.According to the circular dated August 5th, the CBN further instructed that “for prior foreign currency lodgments made before the date of the release of the circular the account holder has the option of either withdrawing the amount by “foreign currency cash or the Naira equivalent”.
8. [Ooops] MTN CEO Admits Etisalat is Currently ‘Better’ – MTN Group has provided a negative outlook for its operations in Nigeria according to Reuters. The company confirmed amongst others that its position as number on in its biggest market is now being threatened by a far superior Estisalat.
9. [Revealed] Why The Demand For Nigeria’s Crude Oil Is Low – A new report by the New York-based Natural Resource Governance Institute has said that market demand for Nigerian barrels has fallen dramatically due glut of light sweet oil in the Atlantic market, weaker refining margins, the return of more Libyan crude to the market, and the collapse of the US market for Nigerian oil.According to the report released on Tuesday, most Nigerian crude sells at a premium to Brent, a widely used pricing benchmark, adding that those premiums weakened from around a typical $2.50 per barrel to just 50 cents or less in 2015, and could stay depressed for some time.
10. How to Choose Between Paying Rent or Mortgage – Uyi and his wife just got back from a friend’s house warming where they had so much fun eating, drinking and sharing jokes. They share a special bond with their friend and couldn’t be happier seeing their friend fulfill a livelong dream of owning a home. Uyi had thought about buying a home too and quit paying the N2million he pays annually in house rent……
