Chijioke Ohuocha

UPDATE 1-Nigeria to pick advisers for $3.3 bln Eurobond via open bids -DMO

14 Feb 2020

ABUJA, Feb 14 Nigeria plans to appoint advisers for a $3.3 billion Eurobond issue through an open competitive bid process and expects to complete an approval process for the sale soon, the Debt Management Office (DMO) said on Friday.

Nigeria grants FX access for milk imports to six mostly foreign firms

13 Feb 2020

ABUJA, Feb 13 Nigeria's central bank has lifted restrictions on buying U.S. dollars to pay for milk imports for six firms, after measures introduced last year to boost local dairy production and conserve foreign currency reserves riled businesses.

UPDATE 2-Nigeria offers longer-term naira contracts to lure investors, shore up FX reserves

13 Feb 2020

* * Forwards price naira at much weaker level in one-year (Adds naira rates, analyst comments, background)

Nigerian stocks fall to 3-week low as funds exit

03 Feb 2020

ABUJA, Feb 3 Nigerian stocks declined 1.08% on Monday to a more than three-week low as investors sold off shares from across the board after weak sentiment hit equities.

Foreign investors bought fewer Nigerian stocks last year -bourse

24 Jan 2020

LAGOS, Jan 24 Foreign investors bought fewer Nigerian stocks in 2019 than the previous year, stock exchange data showed, after hopes for reforms that could lift Africa's biggest economy faded.

Nigeria's lender Access acquires Kenya's Transnational Bank

17 Jan 2020

NAIROBI/LAGOS Nigeria's top lender by assets, Access Bank , has acquired Kenya's Transnational Bank, the Kenyan central bank said on Friday.

Foreign investors bought less Nigeria bonds last year: debt office

16 Jan 2020

LAGOS Foreign investors cut their participation in Nigerian government bond auctions last year, buying just 4.39% of all bonds issued compared with the previous year when they bought 10.99%, a debt office presentation showed.

Nigeria seeks to boost revenue, support small firms with new finance law

13 Jan 2020

LAGOS Nigerian President Muhammadu Buhari has signed into law a new bill that seeks to boost government revenue through a rise in the value-added tax rate while at the same time supporting small businesses in Africa's biggest economy.

UPDATE 1-MTN Nigeria rises 10% after $2 bln tax case withdrawn

13 Jan 2020

LAGOS, Jan 13 MTN Nigeria shares rose 10% on Monday to their highest in two weeks after the country's attorney general withdrew a $2 billion tax demand against the South African telecoms firm.

CORRECTED-Nigerian stocks fall for seventh session to one-month low

10 Dec 2019

LAGOS, Dec 10 Nigerian stocks fell to their lowest level in a month on Tuesday after shedding 1.11% as shares of the two most capitalised companies Dangote Cement and MTN Nigeria declined.

World News