CAPITAL MARKET
SEC Approves Seven NGX’s Derivatives Contracts
Nigerian Exchange Limited (NGX) has received approval for seven derivatives contracts from the Securities and Exchange Commission (SEC). The approved contracts are: Access Bank Plc Stock Futures; Dangote Cement Plc Stock Futures; Guaranty Trust Bank Plc Stock Futures; MTN Nigeria Communications Plc Stock Futures; Zenith Bank Plc Stock Futures; NGX 30 Index Futures, and NGX Pension Index Futures. This Day
Exchange raises over N4.7 trillion through fixed income in H1
The Nigerian Exchange (NGX) Limited has said that with the listing of Coronation Merchant Bank (MB) Funding SPV Plc N25 billion on its platform, it has supported the Federal Government and corporate entities to raise over N4.7 trillion from the capital market through the fixed income segment in the first half (H1) of 2021. The five-year 6.25 per cent Series 1 fixed rate subordinated unsecured bonds were listed on the NGX at the weekend. The Guardian
Central securities depositories get new framework
The Securities and Exchange Commission has issued an interoperability/financial infrastructure link framework among central securities depositories to enhance the efficiency of trading, settlements and aligning the market with international best practices. SEC said in a statement on Sunday that the issuance of the framework was essential as the Nigerian capital market had witnessed significant growth in the last few years in size, participation and tradable instruments. Punch
ECONOMY
PIB: Dangote refinery, others to buy crude in naira
Holders of refining licences in the country can pay for domestic crude oil supply in naira, according to the Petroleum Industry Bill passed by the National Assembly on Thursday. Companies holding refining licences include Dangote Oil Refinery Company, Waltersmith Refining & Petrochemical Company Limited, OPAC Refineries, Niger Delta Petroleum Resources, BUA Refinery & Petrochemicals and Edo Refinery and Petrochemical Company Limited. Punch
NNPC, Partners Achieve 30% Oil Production Cost Reduction
The Nigerian National Petroleum Corporation (NNPC) in collaboration with other oil exploration and production companies operating in Nigeria have brought down the cost of oil production in the country by 30 per cent. The Group Managing Director of the NNPC, Mallam Mele Kyari, disclosed this recently on ‘The Morning Show,’ on Arise News Channels, THISDAY’s sister broadcast station. High cost of oil production in the country became a front burner last year at the heat of the COVID-19-induced oil market crash as Nigerian oil companies. This Day
NEPZA, NSC to boost non-oil sector
The Nigeria Export Processing Zones Authority has said that it is willing to partner with the Nigerian Shippers Council to scale-up the country’s non-oil sector. A statement by its Head, Corporate Communications, Martins Odeh, quoted the Director General, Adesoji Adesugba, as disclosing this in a congratulatory message to the newly appointed Executive-Secretary of the NSC, Mr Emmanuel Jim. The statement was titled ‘NEPZA seeks multiple partnerships with NSC to jerk-up FG’s non-oil sector deliverables. Punch
AfCFTA’ll not lead to dumping in Nigeria, says Adebayo
The African Continental Free Trade Agreement (AfCFTA) would not allow products without identification of origin for exportation. The Minister for Industry, Trade and Investment, Mr Niyi Adebayo, who stated this during a two-day tour to Delta State, assured that Nigeria would not be a dumping ground for unidentified products from other African countries when AfCFTA is activated. Punch
