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Monday, August 10, 2020

Singapore-based Noodle maker plans $1bn biggest regional port in Nigeria’s Lagos

The Tolaram Group, maker of Indomie Noodles, is building the biggest port in West Africa on the east side of Lagos with $1bn facility from China, according to the Financial Times. A report in Financial Times on Tuesday said the Singapore-based company was set to...

Nigeria plans ‘Jollof Bond’ to tackle infrastructure deficit, threatens MTN on fraudulent USSD charges

looks at proposal from Deutsche Bank and World Bank in 2020 As CBN Says Nigerian banks healthy Nigeria Minister of Finance has said that the bilateral meeting with the UK authorities was to explore areas of cooperation on the debt instrument on the proposed Jollof bond, Naija247news...

Nigeria fines banks $1.3 bln for failing to meet loan deadline -sources

* Central bank has set minimum 60% loan-to-deposit ratio * Several banks have missed September deadline * Mid-tier lender FCMB says it was fined $46 mln * Central bank trying to boost lending to support growth (Adds comment from FCMB Bank) By Chijioke Ohuocha LAGOS, Oct 3 -...

Homelessness rise in Nigeria as housing sector crisis worsens aided with forced evictions

ABUJA – Nigeria is gripped by a crisis that has left Africa’s most populous country ill-equipped to properly house its inhabitants, said a United Nations rapporteur who also called for an end to the forced evictions of entire communities. The United Nations estimates that...

Nigeria eyes lower stakes in oil JVs in bid to spark foreign investment

Nigeria's oil minister says he wants to reduce the government's stake in its joint venture businesses with foreign companies in an effort to encourage more foreign investment. Newly appointed Minister Timipre Sylva says lowering the government's stake to 40% from 55%-60%, raising the country's oil...

China Invests $16 Billion in Nigeria’s Oil Sector

ENUGU, NIGERIA - Chinese investment in Nigeria's oil and gas industry has reached $16 billion, according to Nigeria's state-run oil company. While Nigeria's oil industry welcomes China's interest, analysts worry about a lack of transparency in the sector and slow development of the country's...

Nigeria seeks to capture over 50 million unbanked population with new banking license

The Central Bank of Nigeria (CBN) has issued licenses to five new banks, according to three banking sources familiar with the matter, who spoke to us. Sources say the CBN is being driven by the need to attract new investments into the sector and serve...

Experts call for more Real Estate Fund Listings on NSE to address Nigeria’s 20m housing deficit

Experts call for more Real Estate Fund Listings on NSE to address Nigeria's 20m housing deficit, according to the Only three REFs listed on the NSE, which are Union Homes Real Estate Investment Trust, Skye Shelter Fund and UPDC Real Estate Investment Trust. According to...

Investors target higher yields on TBs as DMBs lose N660bn current account deposits

By Babajide Komolafe The Central Bank of Nigeria (CBN) is expected to offer higher yields on treasury bills to be auctioned this week in a bid to mop up N786 billion inflow into the interbank money market this week. This follows...

Nigeria starts sale of $326mln debut sovereign sukuk to fund road infrastructure

Godwin Okafor with Agency Report LAGOS, Sept 14  - Nigeria has started the sale of a 100 billion naira ($326 million) debut sovereign sukuk on the local market to fund road infrastructure, the Debt Management Office said on Thursday. The seven-year Islamic bond which is structured...
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