Evening Briefing: Today’s top news

Evening Briefing: Today’s top news

Good Evening

Here’s your today’s brief, enjoy!

Today’s quote of the day is below,hope it inspires you

“Do something that your future self will thank you for”

1. SEC to partner with EFCC on market infractions

Mounir Gwarzo, the Director-General of the Securities and Exchange Commission (SEC), says the body would partner with the EFCC to provide efficient and effective policing of the capital market. Naif Abdulsalam, SEC’s Head of Corporate Communications, said in a statement in  Abuja on Sunday. Read more here https://goo.gl/Zz1klZ

2. Relief for banks as Nigeria’s Oil industry on cusp of cash flow recovery

The world’s major oil and gas companies including those in Nigeria will turn cash flow positive for the first time in three years in 2017 if the Opec production cartel succeeds in keeping the oil price above $55 a barrel. That is the conclusion of Wood Mackenzie, the respected energy consultancy, in a new report. Read more here https://goo.gl/QbWjHJ

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3. FG sets aside N185bn in 2017 budget for new initiatives

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, said in Abuja the Federal Government had earmarked N185 billion in the 2017 budget for new initiatives. Udoma announced this at Public Presentation of the 2017 Budget Proposals in Abuja. The minister identified the initiatives as the Social Housing Programme; Special Economic Zone Projects. Read more here https://goo.gl/YXeiXJ

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4. FG procures N400mn vehicles to intensify monitoring of mining activities

The Federal Government on Monday unveiled and commissioned a fleet of project vehicles which, it said, were procured to help intensify its surveillance activities of the mining sector, with a view to further expanding the scope of its contribution to the Nigerian economy. Read more here http://www.businessdayonline.com/fg-procures-n400mn-vehicles-intensify-monitoring-mining-activities/

5. CBN calls for bids in special fx auction

The central bank on Monday asked banks to submit bids for a “special currency auction” to clear the backlog of matured outstanding dollar obligations for selected sectors of the economy, traders said on Monday. The central bank instructed commercial lenders to submit backlog dollar demand from fuel importers, airlines, raw materials and machinery for manufacturing, Read more http://www.businessdayonline.com/cbn-calls-bids-special-fx-auction/

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6. Nigeria offers bond-investors highest yield in almost 2 years

To lure investors to the long end of its yield curve while securing some wiggle room for domestic debt servicing in the short-term, Nigeria offered to pay bondholders higher than it has ever paid in more than a year. Read more https://goo.gl/wxX8PA

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7. Obaseki budgets N150bn for 2017 fiscal year

  • to borrow N25billion to fund the budget
 In his first budget presentation since assumption of office as the elected governor of Edo State, Godwin Obaseki Monday presented a budget of N150billion for the 2017 financial year  to the State House of Assembly for consideration and approval. Read more here http://www.businessdayonline.com/obaseki-budgets-n51bn-2017-fiscal-year/godwin-obaseki-560x390
8. IMF Head Christine Lagarde convicted in French negligence trial

International Monetary Fund Managing Director Christine Lagarde was found guilty of one count of negligence by a French court, Bloomberg News reports.  Despite the conviction the judge said there was no need for a sentence. Read more here https://goo.gl/zAbf0T

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