In the news: How CBN is tackling inflation – Emefiele
| Punch
Govt revenue declined by N183.2bn in July The revenue accruing to the federation account from oil and non-oil sources recorded a decline of N183.26bn from N570.58bn received in the month of June to N387.31bn in July. FG may adopt selective minimum wage increase –Osinbajo Vice President, Yemi Osinbajo says the Federal Government may consider increasing workers’ remuneration package, especially bonuses of certain government agencies, instead of increasing wages across board. DMO puts MDAs’ outstanding loans at N178bn Ministries, departments and agencies of the Federal Government have loans amounting to N178.09bn to settle, the Debt Management Office has said. NLC opposes releasing N38bn to Discos for meters The Nigeria Labour Congress has criticized the moves by the Federal Government to release N8bn to the electricity distribution companies to procure prepaid meters. Investment inflow into Nigeria rises by 95% to $1.7bn –NBS The National Bureau of Statistics on Tuesday released the capital importation report, stating that investment inflows into the country rose by 95.02 per cent from $884.1million in the first quarter of this year to $1.79billion in the second quarter. This Day NSE Index Rises 1.03% as Bulls Regain Control of Market The Nigerian equities recorded a positive performance on Tuesday with the Nigerian Stock Exchange All Share Index (NSE ASI) appreciating by 1.03 per cent to close at 36,962.48. Forex Transactions on Investors & Exporters Window Hit $7.62bn The total turnover of forex transactions on the Investors and Exporters window stood at US$7.62 billion as at August 11. NNPC to Automate Crude Swap Process, Warns of Illegal Operators The Nigerian National Petroleum Corporation (NNPC) has said it will open up the process employed in its crude oil for product exchange scheme called Direct-Sale –Direct-Purchase (DSDP) to ensure that it is transparent from the beginning to its end point with its remittance of accrued revenues to the government. Guardian NNPC refunds of N450bn shared among states, local governments The Nigerian Extractive Industry Transparency Initiatives (NEITI) has disclosed that the Nigerian National Petroleum Corporation (NNPC), completed the refund of N450billion to the Federation Account by April 2017, which has been shared among states and local government councils. Amukpe-Escravos pipeline project ready for completion by Q3 The Amukpe-Escravos Pipeline Project (AEPP), a Joint Venture (JV) of the Nigerian National Petroleum Corporation (NNPC), and Pan Ocean Oil Corporation, has been scheduled to come on stream before the end of this third quarter (Q3). Vanguard CBN calls for import reducing policy as Nigeria’s monthly import bill rises by 95% to N588b The Central Bank of Nigeria, CBN, yesterday said the country’s average monthly import bill rose by 95 per cent to N588 billion in 12 years. Naira Watch: Naira gains as NAFEX records $100.29m The Naira Tuesday recorded marginal appreciation in the Investors & Exporters (I&E) window as the volume of dollars traded declined to $100.29 million. The Nation Union Bank seeks approval for N50b new capital raising Union Bank of Nigeria (UBN) plans to issue about 12.2 billion ordinary shares of 50 kobo each to existing shareholders and employees to raise N50 billion in new equity funds as the first generation bank looks beyond its centenary. Stock Exchange places 49 firms under caveat The latest tracker report on corporate governance, regulation and compliance indicated that 49 companies have pending and unresolved compliance and governance issues that place them below the high standards required of quoted companies. How CBN is tackling inflation, exchange rate volatility – Emefiele The negative impact of high inflation and exchange rate volatility has prompted the Central Bank of Nigeria (CBN) to tackle both developments head-on, its Governor, Godwin Emefiele, said on Tuesday.
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