Monday, March 20, 2017
MARKET UPDATE
MARCH 16, 2017NIGERIA STOCK EXCHANGE (Market Closed) SUMMARY: All Share Index 25,418.08 Deals 2,468.00 Volume 280,945,416.00 Value 2,349,419,384.30Market Cap 8,796,717,470,596.41TOP GAINERS NB 133.84 (3.14) FO 48.93 (1.12) GUARANTY 25.8 (0.45) ZENITHBANK 14.55 (0.4) FLOURMILL 17.85 (0.35) TOP LOSERS 7UP 77.71 (-8.29) TOTAL 274.55 (-5.45) ASHAKACEM 9.5 (-0.5) DANGCEM 160 (-0.5) UACN 14 (-0.25) CBN EXCHANGE RATE(NGN)Buying:$USD 305.75 GBP 377.2344 EURO 327.9169 SWISS FRANC 302.715 YEN 2.695 Selling:$USD 306.75 £GBP 378.4682 EURO 328.9894 SWISS FRANC 303.7059 YEN 2.7038 CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) 51.15 Natural Gas 2.904 (-0.077) Gold 1226.10 (25.40) Silver 17.30 (0.377) Copper 2.679 (0.0225) Wheat 435.50 (-0.50) Coffee 141.55 (0.65) Cotton 78.05 (-0.03) Cocoa 2035.00 (-13.00)

Fredrick Nwabufo

    Malabu: Court returns OPL 245 to Shell, ENI

Malabu: Court returns OPL 245 to Shell, ENI

John Tsoho, justice of the federal high court, Abuja, has reversed his order revoking OPL 245, an oil block, from Shell Nigeria Limited and Eni.Shell and Eni had filed an application seeking the vacation of the order of interim forfeiture of OPL 245, which is considered as Nigeria's largest oil block.On Monday, the judge had adjourned the case to Friday [...]

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    THE INSIDER: The DSS letter that ‘nailed’ Magu

THE INSIDER: The DSS letter that ‘nailed’ Magu

For a second time, the senate on Wednesday rejected the nomination of Ibrahim Magu as the chairman of the Economic and Financial Crimes Commission (EFCC).The Department of State Services (DSS) wrote to the senate on Tuesday, affirming its security report, which indicted Magu of corruption.A source had told TheCable that the lawmakers would use the report as a basis for [...]

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    Drama continues as Ali fails to appear before senate, gets Thursday ultimatum

Drama continues as Ali fails to appear before senate, gets Thursday ultimatum

Hameed Ali, comptroller-general of the Nigeria Customs Service (NCS), on Wednesday failed to honour the invitation of the senate.Ali’s hearing was the first on the order paper of the senate for Wednesday.The senate had summoned Ali to appear before it in uniform over the customs' plan to seize vehicles without paid duty.He had written to the upper legislative chamber that [...]

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    Customs suspends inspection of duty payment on vehicles

Customs suspends inspection of duty payment on vehicles

The Nigeria Customs Service (NCS) says it has suspended its planned enforcement of duty payment on private vehicles.Joseph Attah, acting spokesman of the service, said this in a statement on Wednesday.He said the suspension of the action was to allow for discussions with the senate committee on customs and excise duty.“Following the unnecessary tension generated as a result of misconception [...]

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    Ali meets Saraki at national assembly

Ali meets Saraki at national assembly

Senate President Bukola Saraki met with Hameed Ali, comptroller-general of the Nigeria customs service (NCS), in his office at the national assembly complex.Ali arrived at the senate wing of the national assembly complex a few minutes before 6pm.This is coming a few hours after the senate reaffirmed its resolution to summon him over the customs' planned seizure of vehicles without [...]

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    EXCLUSIVE: I need legal advice on directive to appear in uniform, Ali writes Saraki

EXCLUSIVE: I need legal advice on directive to appear in uniform, Ali writes Saraki

Hameed Ali, comptroller-general of the Nigeria customs service (NCS), has written a letter to Senate President Bukola Saraki, saying he is seeking legal advice on the directive of the senate that he should wear a uniform, TheCable can report.The upper legislative chamber had mandated Ali to appear before it in a uniform.This was after the service announced that it would [...]

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    Finally, senate to hold confirmation hearing for Magu

Finally, senate to hold confirmation hearing for Magu

The senate will hold a confirmation hearing for Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), on Wednesday.Senate President Bukola Saraki announced this on Tuesday.This is coming a few weeks after President Muhammadu Buhari asked the senate to reconsider its decision to reject the appointment of Magu as EFCC chairman.Vice-President Yemi Osinbajo had sent a letter [...]

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    Paid duty: Only vehicles on inter-state roads will be seized, says customs

Paid duty: Only vehicles on inter-state roads will be seized, says customs

The Nigeria Customs Service (NCS) says it will only seize vehicles without paid duty on inter-state roads.Joseph Attah, customs acting spokesperson, told TheCable on Tuesday.On March 2, the service announced that it would seize uncustomed vehicles (vehicles without paid duty) after April 12, and it directed owners of such vehicles to get the necessary customs documents before the deadline.It also [...]

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    Makarfi: Me, collect N50m from govs? We can’t even pay salaries!

Makarfi: Me, collect N50m from govs? We can’t even pay salaries!

The Ahmed Makarfi faction of the Peoples Democratic Party (PDP) has described as “a lie from the pit of hell” the allegation that it receives N50m monthly from governors who are members of the party.Cairo Ojougboh, deputy national chairman of the Ali Modu Sheriff faction of the party, had alleged that the national caretaker committee chaired by Makarfi receive N50 [...]

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    Makarfi committee collects N50m monthly from PDP govs, says Sheriff

Makarfi committee collects N50m monthly from PDP govs, says Sheriff

The Ali Modu Sheriff faction of the Peoples Democratic Party (PDP) has alleged that governors who are members of the party give N50m monthly to the Ahmed Makarfi faction as subvention.Cairo Ojougboh, a deputy national chairman of the Sheriff faction, said this at a news conference on Monday.He alleged that Makarfi and members of his faction were holding on to [...]

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    Again, court adjourns ruling on forfeiture of ‘Malabu oil block’

Again, court adjourns ruling on forfeiture of ‘Malabu oil block’

‎John Tsoho, justice of the federal high court, Abuja, has adjourned ruling on an application by Shell Nigeria Limited and Eni, seeking the vacation of an order of interim forfeiture of OPL 245.The judge took the decision to adjourn the case to Friday after Malabu oil and gas filed an application to be joined in the matter.On February 28, the [...]

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    Buhari writes national assembly, says ‘I have resumed’

Buhari writes national assembly, says ‘I have resumed’

President Muhammadu Buhari has resumed duties after a 49-day vacation in the UK.Femi Adesina, presidential spokesman, disclosed this in a statement on Monday.“In compliance with section 145 of the 1999 constitution (as amended), the president has formally transmitted  letters to the senate and the house of representatives, intimating the national assembly ‘that I have resumed my functions as the president [...]

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    Buhari’s return will douse tension, says Peter Obi

Buhari’s return will douse tension, says Peter Obi

Peter Obi, former Anambra state governor, says the return of President Muhammadu Buhari to the country will douse tension.He said this in a statement issued by his media office on Saturday.The president returned to Nigeria on Friday after a 49-day vacation in the UK. Before his return, there had been speculations over the state of his health, stoking tension in [...]

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    Destruction of refineries responsible for soot deposits, says Wike

Destruction of refineries responsible for soot deposits, says Wike

Nyesom Wike, Rivers state governor, says uncontrolled destruction of illegal refineries is partly responsible of the soot deposits in the state.Soot is a black substance that is produced when coal, wood or any item is burnt.According to Simeon Nwakaudu, Wike's media aide, the governor said this during the courtesy visit by Enobong Udoh, general officer commanding the sixth division of [...]

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    PDP: Nigerians deserve to know Buhari’s health status

PDP: Nigerians deserve to know Buhari’s health status

The Ahmed Makarfi faction of the Peoples Democratic Party (PDP) has urged the presidency to be more transparent in managing the health of President Muhammadu Buhari.The faction said this in a statement issued by Dayo Adeyeye, its spokesman, on Friday.While welcoming the president, who returned after a 50-day vacation in the UK on Friday, the faction said Nigerians deserved to [...]

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    Ibori, Sheriff, Yakubu and Emefiele — the biggest news makers while Buhari was away

Ibori, Sheriff, Yakubu and Emefiele — the biggest news makers while Buhari was away

A lot happened since President Muhammadu Buhari left Nigeria for the United Kingdom on January 19.There is no doubt that the president, who returned to Nigeria after a 50-day vacation in the UK on Friday, has met the country a little more different than he left it. While he was in the UK, there were wildfire rumours that he had [...]

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Exchange Rates

March 20, 2017USDGBPEUR
INTERBANK316.00392.15339.92
LAGOS449535470
KANO450545470
PH454547480
ABUJA450540472
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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