Punch

FG confirms MTN’s N50bn payment, says negotiations continue:
The Federal Government on Thursday confirmed that MTN Nigeria had made a payment of N50bn towards resolving its protracted dispute with the Nigeria Communications Commission over a fine of N1.04tn.

Naira weakens to 330 as dollar demand surges:
The naira weakened to 330 against the United States dollar on Thursday, from 300 where it closed on Wednesday, foreign exchange dealers said.

Oil firms’ cash flows worsen, banks jittery:
Nigerian indigenous oil and gas firms are recording negative cash flows as the plunge in global oil prices lingers, a development that has sent shivers down the spines of many banks.

Naira already devalued, 28 professional associations insist:
The naira is already devalued whether the President Muhammadu Buhari-led Federal Government accepts it officially or not, 28 professional associations registered in the country have said.

Thisday

Citigroup Sees Vanishing Nigerian Deals on Devaluation Fears:
Citigroup Incorporated said deals in Nigeria have plummeted because investors are too scared to spend money when it’s expected that the naira will have to be devalued.

GTI Microfinance Bank Harps on Savings, Investments:
The Managing Director of GTI Microfinance Bank, Mrs. Tolulope Opayinka has assured budding entrepreneurs that it would provide amenable financial support to help drive the growth of their businesses as part of its commitment to promote the development of micro, small and medium enterprises (MSMEs).

Nigeria’s Crude Oil Languishes, Awaits Buyers:
While Asian traders were mopping up Angola’s crude oil, Nigeria’s crude remains in ample supply, languishing as it waits buyers.

The Nation

Forex speculators count losses on CBN measures:
There are strong indications that the efforts of the Central Bank of Nigeria (CBN) to stabilise the naira may have started yielding results.

NIPC to set up Investment Facilitation Fund:
The Nigeria Investment Promotion Commission (NIPC), has unveiled plans to set-up a special development fund called the Investment Facilitation Funds (IFF).

Vanguard

Economic reforms, passage of bill will boost Nigeria’s economy —Control Risks :
Control Risks, a global risk consultancy firm, yesterday said that the Federal Government fight on corruption, economic reforms and quick passage of some important bills before the National Assembly will boost the economy.

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