Friday, February 12, 2021
‘Nigeria Needs More Foreign Direct Investments to Fund Capital Projects’
A securities dealer and Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu, has said that Nigeria needs appropriate policies that would attract Foreign Direct Investments (FDIs) into the country. He stressed that FDI is an important source of capital funding for a country like Nigeria. Read more
Ecobank Nigeria Announces $300m Bond Pricing
Ecobank Nigeria announced that it has successfully priced its $300 million bond issuance maturing in February 2026, with settlement of the debt instrument to take place on February 16, 2021. According to a statement from the bank, the fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange. Read more
Nigeria targeting 30% electricity from renewables by 2030 – Osinbajo
Vice-President Yemi Osinbajo on Thursday has said Nigeria plans to have 30 per cent of its electricity supply from renewables by 2030. According to a statement by his Senior Special Assistant on Media and Publicity, Laolu Akande, the Vice-President said this in his message delivered virtually at the inauguration of a 1.12 MW Captive Solar Hybrid Power Plant at the Abubakar Tafawa Balewa University, Bauchi. Read more
We lack power to audit NNPC, CBN, others – AuGF
The Acting Auditor General for the Federation, Adolphus Aghughu, said on Thursday that his office lacked the constitutional power to audit the Nigerian National Petroleum Corporation, the Central Bank of Nigeria, the Nigerian Ports Authority, and other big federal agencies. Aghughu said this when the Senate Public Account Committee screened him ahead of his appointment’s confirmation by the Senate. Read more
Banks’ lending rates discouraging productivity, say manufacturers
Most manufacturers have said the commercial banks’ lending rates are discouraging productivity in the nation’s manufacturing sector, the Manufacturers Association of Nigeria has said. MAN revealed in a report that 71 per cent of Chief Executive Officers interviewed “disagreed that the rate at which commercial banks lend to manufacturers encourages productivity in the sector.” Read more
NIMASA rates Lagos best in maritime safety
The management of the Nigerian Maritime and Safety Agency (NIMASA) has rated Lagos as the best state in Nigeria in terms of maritime safety. Speaking during a courtesy visit to Lagos State Governor, Babajide Sanwo-Olu, at the Lagos House, Ikeja, the Director-General, NIMASA, Dr. Bashir Jamoh, said despite the widespread insecurity in the maritime sector, Lagos waterways have achieved a reasonable level of security. Read more
Regulate cryptocurrency transactions, CBN urged
Experts have urged the Central Bank of Nigeria (CBN) to put measures in place to regulate the transaction of cryptocurrency rather than banning it. The CBN had last Friday issued a directive to deposit money banks (DMBs), non-financial banks and other financial institutions not to provide banking services to entities dealing with cryptocurrencies. Read more
Experts urge assets privatisation, securitisation to finance budget deficit
The Federal Government has been urged to finance its N5.2 trillion budget deficit through privatisation of moribund assets and securitisation through conversion to marketable instruments. Read more
