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FG owes five IOCs $1.15bn cash call arrears, clears $3.53bn debt

FG owes five IOCs $1.15bn cash call arrears, clears $3.53bn debt A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears repayment to the IOCs, leaving an outstanding balance of $1.15bn. The report, which was obtained from the Nigerian National Petroleum Company Limited, outlined the five IOCs to include Shell

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FCCPC, CBN, EFCC target illegal money lenders

FCCPC, CBN, EFCC target illegal money lenders A joint committee of the Federal Competition and Consumer Protection Commission (FCCPC), CBN and EFCC tackling violation of consumer rights in the money lending industry will soon shut down illegal businesses. Mr Babatunde Irukera, the Chief Executive Officer of FCCPC, told newsmen in Abuja on Sunday, that the enforcement would commence soon. Other

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BUSINESS Capital Inflow Crashes By 80%, As Foreign Investors Shun Nigerian Market Capital inflow to Nigeria has crashed by 80 per cent in two years, the Central Bank of Nigeria (CBN) reports have indicated. Specifically, capital inflow to Nigeria fell from $17.1bn in July 2019 to $3.4bn in July 2021. The apex bank reports showed that Nigeria recorded $17.1bn capital

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Daily Capital Market Round-up

The Bulls fought back from a huge loss yesterday to close the week with a gain of 0.54%.The All Share-Index (ASI) closed at 22,198.43 points as against 22,078.58 points recorded at the close of trading on Thursday. This abate the Year-to-Date (YTD) loss of the Market to 17.30%. Market Capitalization equally appreciated by 0.54% to close at N11.568 trillion as against N11.505 trillion recorded at the close of trading on Thursday. Market Breadth: Across

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