GRF DALLEY NEWSLETTER 0037 – A COMPILATION OF LEGAL NEWS AND EVENTS
CBN injects $195m ahead of MPC decisions
The Central Bank of Nigeria (CBN), yesterday, boosted the foreign exchange market by offering a total of $195m in three segments of the market, ahead of today’s Monetary Policy Committee’s decisions, even as the naira appreciated to N360.31 per dollar
NNPC subsidiary, NETCO, records N5.1bn profit for 2015, 2016 financial year
The breakdown shows that N1.4 billion was recorded for 2015 while N3.7 billion was recorded for 2016. NETCO was established in 1989 to acquire engineering technology through direct involvement in all aspects of engineering in the oil, gas and non-oil sectors of the economy.
NPDC targets 500,000bpd oil production by 2020
The Managing Director of NPDC, Mr. Yusuf Matashi, who disclosed this in Benin, said the planned increase in the company’s equity production was due to the ongoing transformation in NNPC.“
CBN, Aviation Ministry open talks to crash interest rate to 9%
Nigeria’s apex bank had left the country’s key interest rate unchanged at 14 per cent for more than a year, but ahead of plans to concession key airports to private firms, aviation ministry’s policymakers believe there is need to cut down interest rate to single digit and provide a special funding window particularly for local investors interested in the airports. The government’s vision is to create one or two hubs from the concessioned airports.