The Nigerian Exchange Limited (NGX) has imposed N32.74 million fine on eight quoted companies for failure to file their unaudited financial statements for the first quarter this year after the regulatory due date. According to the fine information contained in the Exchange’s X-Compliance report, the affected companies comprised Presco Plc, Ardova Plc, Briclinks Africa Plc, […]
The Centre for the Promotion of Private Enterprise (CPPE), one of the leading organized private sector advocacy groups in Nigeria, has advocated some policy options the Federal Government should urgently explore to combat the growing constraints hampering business operations and improved performance of the nation’s economy. A statement issued by the Director/CEO of the group, […]
The Nigerian National Petroleum Company (NNPC) Limited and the African Export-Import Bank (Afreximbank) today signed a Commitment Letter and Termsheet for an emergency $3 billion crude oil repayment loan to ensure improved FX earnings by Nigeria from crude oil exports. The signing ceremony, which took place at Afreximbank’s headquarters in Cairo, Egypt, based on the […]
….as oil production declines 13.6% With fuel consumption rate by consumers continue to plummet by the day following adjustments of their travel schedules occasioned by the fuel subsidy regime, data on petroleum products importation indicated that Nigeria’s fuel imports fell to 106,000 barrels per day (bpd) in July 2023. The drop in volume as reflected […]
The Association of Bureau De Change Operators of Nigeria (ABCON), the umbrella group of Bureau De Change (BDC) operators in the country has called on the Central Bank of Nigeria (CBN) to allow its members collaborate with it in its current efforts to boost liquidity in the nation’s foreign exchange (FX) market. The President of […]
The Central Bank of Nigeria (CBN) on Monday hinted of its plans to take new measures to stabilize the Naira exchange rate against other foreign currencies in the foreign exchange markets in furtherance of its measures to ensure that the FX unification policy impacts positively on the nation’s economy. The Acting Governor of the CBN, […]
With dwindling foreign exchange (FX) accruals into the nation’s foreign reserves and inability of the Central Bank of Nigeria (CBN) to moderate the current depreciation of the Naira in the FX markets, financial experts at Bancorp Securities Limited on Monday predicted bearish outlook on the value of the Naira in the FX markets this week. […]
…Initiative ‘ll boost equities market liquidity – SEC The National Pension Commission (PenCom) has hinted of its plan to release new draft guidelines to Pension Fund Administrators (PFAs) for securities lending as part of its efforts to boost investment in the nation’s pension sector. The commission’s Head of Investment Supervision, Mr. Ibrahim Kangiwa, who made […]
The Chief Executive Officer of the NGX Regulation Limited (NGX RegCo), Ms Tinuade Awe, has charged business owners in the country on the need to incorporate Environmental, Social, and Governance (ESG) considerations into their business strategies to enhance their financial reporting standards and governance practices. The investment expert gave this advice during a Roundtable with […]
The Central Bank of Nigeria (CBN) has released its Consolidated Financial Statements for the past seven years spanning 2016-2022 financial years as the National Assembly, civil society organizations’ (CSOs) and stakeholders’ agitations for the apex bank to comply with the nation’s financial reporting guidelines remained unabated. The Consolidated Financial Statements showed that in the 2022 […]