In the news: Naira appreciates to N366/$

By August 31, 2017Research

In the news: Naira appreciates to N366/$

Punch

FG awards $5.8bn Mambilla power plant contract

The Federal Executive Council on Wednesday approved the contract for the engineering work of the Mambilla Hydro Electric Power Plant in Taraba State at a sum of $5.792bn.

Lagos to build 57 computerised vehicle inspection centres

The Lagos State Government says it plans to build 57 state-of-the-art computerised vehicle inspection service centres for testing vehicles before being issued road worthiness certificates.

Oil industry stakeholders await Egina FPSO integration

Stakeholders in the Nigerian oil and gas industry are awaiting the integration of the Egina Floating Production Storage Offloading facility in the country as the project nears completion.

This Day

 Fidelity Bank Grows Profit after Tax by 66% to N9bn in Six Months

Shareholders of Fidelity Bank Plc should expect a bounteous harvest at the end of the current year given its impressive performance for the half year (H1) ended June 30, 2017.

 Allianz Buys Nigerian Insurer for $35m

Germany’s Allianz plans to pay $35 million for 98 per cent stake in Nigerian insurer, Ensure Insurance, in a push for growth in Africa, where many people are uninsured..

Japanese Miniso’s $1.5bn International Investment Enters Nigeria

The federal government’s quest for foreign direct investment (FDI) has yielded yet another positive boost as Miniso, a top Japanese designer brand and market leader, has opened its world-class outlets across the six high-brow shopping malls in Lagos.

Vanguard

BoI, Oxfam partner to empower 4,000 farmers

The Bank of Industry (BoI) has signed a partnership agreement with Oxfam to disburse N200 million to empower about 4,000 farmers in Nasarawa, Benue and Plateau States, under the Federal Government’s Government Enterprise and Empowerment Programme (GEEP).

Naira appreciates to N366/$

The Naira yesterday appreciated for the second consecutive day to N366 per dollar in the parallel market, even as investors traded $84 million in the Investors and Exporters (I&E) window.

Guardian

FG begins disbursement of N5billion loan for miners

Despite the limited access to finance, and illegal artisanal mining activities, federal government has commenced disbursement of N5 billion to artisanal and small-scale miners in the country.

Bloomberg

Chinese Oil Giant Sinopec Probed by the U.S. Over Nigeria Bribery Allegations

U.S. authorities are investigating China Petroleum & Chemical Corp. over allegations that the state-controlled oil producer paid Nigerian officials about $100 million worth of bribes to resolve a business dispute, according to people familiar with the probe.

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