Daily Archives: May 31, 2018
OPEC May Oil Output Hits New Low On Nigeria, Venezuela – Reuters Survey
OPEC oil output fell to a 13-month low in May due to declining Venezuelan production, Nigerian outages and strong compliance with a supply-cutting deal, a Reuters survey found.
The Organization of the Petroleum Exporting Countries pumped 32.00 million barrels per day in May, the survey found, down 70,000 bpd from April’s revised figure. The May total is the lowest since April 2017, according to Reuters surveys.
FirstBank CEO Joins Global Influencers, Experts At t2018 FT Nigeria Summit, Cambridge Business
In furtherance of its thought leadership positioning, First Bank of Nigeria Limited is participating in the Financial Times Nigeria Summit and Cambridge Business in Africa Conference 2018, respectively scheduled for Lagos and London on May 30 – 31, and June 1 – 2, 2018. The Bank’s Managing Director/CEO, Adesola Adeduntan will be joining other distinguished global economic influencers to headline the two events.
NSE, LSE Set to Host 5th Dual Listing Conference in Lagos
The Nigerian Stock Exchange (NSE), in partnership with London Stock Exchange Group (LSEG) will host the 5th edition of the NSE-LSE Dual Listing Conference on Friday, June 1, 2018, at Wheathbaker Hotel, Ikoyi, Lagos, Nigeria.
Nigeria Stocks’ World-Beating Start To 2018 Is Out Of Steam … Risk-aversion prompting some investors to sell – SCM Capital … Investors see currency, country risks – NSE CEO
Nigerian stocks, world-beaters in January, have given up their gains for 2018 as risk-averse investors move their money elsewhere.
The Nigerian Stock Exchange All-Share Index dropped 1.1 per cent as of 1:52 p.m. in Lagos Thursday, leaving the benchmark 0.2 per cent lower for the year. The gauge has slumped 15 per cent from its mid-January peak.
CBN Assures Stable Naira Until Local Production, Exports Improve Significantly
The Central Bank of Nigeria (CBN) said the naira would continue to exchange at N360 to a dollar until production and export of goods increases significantly in the country.
Treasury Bills Worth N49.6 Billion Sold To Offset Maturing TBs
Treasury bills worth N49.6 billion has been sold by the Central Bank of Nigeria (CBN) via the primary market.
This exercise is expected to partly offset the maturing treasury bills worth N192.01 billion today.
Rates Herald Week With Sharp Drop
There was a significant drop in the money market rates in Nigeria at the first trading day of this week on Monday.
The Open Buy Back (OBB) and the Overnight rates depreciated by about 15 percent.
