1. CBN Floods Forex Market With $457m
2. Naira stable at N385/$ as CBN injects $453.3m
3. Oil Rises Above $52 as Saudis, Russians Back Longer Supply Cut
4. ExxonMobil, PENGASSAN row threatens oil production
5. NNPC, JV Partners to Grow Domestic Gas Supply to 5bcf/d in Three Years
6. NUJ, Chinese association sign pact on training, information exchange
7. Enyeama, Ikeme Shortlisted for Pitch Awards
CBN Floods Forex Market With $457m
The Central Bank of Nigeria (CBN), on Monday, injected the sum of $457.3 million into various segments of the money market. A statement from the apex bank showed that both the spot and forwards segments of the market received a boost, with $267.3 million while the wholesale segment got $100 million. Also, the SME and invisibles segments comprising of basic travel allowance, tuition fee and medical got and $50 million and $40 million respectively.
Naira Stable At N385/$ As CBN Injects $453.3m
The Central Bank of Nigeria (CBN) yesterday injected $457.3 million into various segments of the foreign exchange market, even as the naira remained stable at N385 per dollar in the parallel market. Meanwhile the CBN also disclosed that the Investors and Exporters (I&E) foreign exchange window has so far attracted $600 million from autonomous sources and from the apex bank.
Oil Rises Above $52 As Saudis, Russians Back Longer Supply Cut
The price of crude oil hit its highest point in more than three weeks on Monday, topping $52 per barrel after Saudi Arabia and Russia said the supply cuts by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members should last till 2018. Energy ministers from the two countries said on Monday that supply cuts should be prolonged for nine months, until March 2018. That is longer than the optional six-month extension specified in the OPEC-led deal.
ExxonMobil, PENGASSAN Row Threatens Oil Production
The dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria and a subsidiary of United States’ ExxonMobil Corporation took a turn for the worse on Monday as the union extended its industrial action to other international oil companies operating in the country. This followed the rejection of the directive by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, by the Mobil Producing Nigeria Branch of PENGASSAN that the industrial action should be suspended.
NNPC, JV Partners To Grow Domestic Gas Supply To 5bcf/d In Three Years
The Nigerian National Petroleum Corporation (NNPC) has said that it would collaborate with its joint venture partners to increase the amount of gas available to Nigeria’s domestic economy in 2020 to about five billion standard cubic feet per day (5bscf/d). The corporation said in a recent statement from its Group General Manager Public Affairs, Mr. Ndu Ughamadu, in Abuja that the development would help the federal government’s plan to have more gas sent to Nigeria’s industries to stimulate economic growth in the country.
NUJ, Chinese Association Sign Pact On Training, Information Exchange
Last weekend, Nigeria Union of Journalist reviewed its cooperation with its Chinese counterpart – All China Journalists Association (ACJA), with the signing of Memorandum of Understanding in skills and knowledge exchange. The event, which held at the premises of Leadership newspapers, Abuja, brought together the management of NUJ leadership and a number of journalists from China. While the NUJ’s chairman, Abdulwaheed Odusile, signed on behalf of the body, ACJA was represented by the Editor, China News Service, Zhang Mingxin, and supported by the Press Attache, Chinese Embassy in Nigeria, Huang Shuming.
Enyeama, Ikeme Shortlisted For Pitch Awards
The usual suspects, Vincent Enyeama, John Mikel Obi and Carl Ikeme among others have been shortlisted in their respective categories for the Nigeria Pitch Award which enters its fifth edition. The awards jointly organised by Matchmakers Consult International and the Nigeria Football Federation (NFF), is slated to hold in Uyo at the weekend of Nigeria versus South Africa match for the qualification for 2019 Africa Cup of Nation.