Dollar scarcity: Firms struggle to repay foreign loans:
Nigerian companies, which are exposed to foreign loans, are in for hard times due to the lingering foreign exchange crisis. ANNA OKON writes that most of them are finding it difficult to service the loans
Fuel scarcity likely to end in May –Marketers:
Contrary to the pledge by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, that lingering fuel scarcity in the country would end on or before Thursday, April 7, marketers and depot owners said on Sunday that consumers might have to endure inadequate supply of the product till May.
Housing finance: AfDB injects $8.2m into Shelter Afrique :
Shelter Afrique has received $8.2 million injection of equity from the African Development Bank (AfDB). Shelter Afrique is a pan-African finance institution which exclusively supports the development of housing and real estate sector in the continent.
Fuel crisis: IOCs agree to sell forex to oil marketers — NNPC :
ABUJA — The Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that a number of international oil companies, IOCs, in the upstream oil and gas sector have agreed to provide foreign exchange for oil marketing companies for the importation of premium motor spirit, also known as petrol.
Unity Bank MD Bags Top 25 CEOs Award:
Managing Director/CEO, Unity Bank Plc, Mrs. Tomi Somefun, has been honoured as one of the top 25 CEOs of Quoted Companies in Nigeria by Businessday Newspaper for the 2015 Financial Year. The award and dinner ceremony was held in Lagos recently.
Financial Losses to Online Fraud Declining, Say NIBSS, CBN:
The Nigeria InterBank Settlement Scheme (NIBSS), and the Central Bank of Nigeria (CBN), have assured Nigerians of continuous reduction in the financial losses suffered by bank customers through online theft.
NSIA records 20% growth in 2015 fiscal year
Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth funds, has recorded increase in its audited results for 2015, reflecting the fund’s fiscal position and investment activities for the year.
Banks channel forex to investors exiting equities, bond markets:
Foreign investors repatriating profits and others exiting the Nigeria equities and bond markets last week triggered a rise in foreign exchange (forex) disbursement by leading banks.
Issuing bonds, revamping economy:
For Nigeria, the worst era seems over. That was last January when crude oil price touched nearly $25 per barrel, with little hope that it would rebound. But the black gold has inched up slightly, touching $41 per barrel last March 30.But, there is still a decline on large chunk of government revenues. Low crude oil prices meant that the government must borrow to realise its spending plans.
Access Bank appoints non-executive director:
Access Bank has announced the appointment of Abba Mamman Tor Habib, as Non-Executive Director (ED).