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Tuesday, July 7, 2020

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...

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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