The Federal Government on Monday offered for subscription two-year savings bond at 10.34 per cent and three-year savings bond at 11.34 per cent, the Debt Management Office (DMO) has said. According to the offer circular obtained from the DMO website, the two-year bond will be due in June 2020, while the three-year bond will be due in June 2021.

The Management of the Nigerian National Petroleum Corporation (NNPC) says it is fine tuning strategies to improve its position as a fully integrated national energy company. The Group Managing Director of the Corporation, Dr. Maikanti Baru, disclosed this at this year’s NNPC First Quarter 2018 Top Management Steering Committee (Steerco) Meeting held at the NNPC Towers in Abuja, Nigeria’s capital.

The Nigerian National Petroleum Corporation, NNPC, on Monday declared that it has no obligation to respond to the Freedom of Information, FoI, request made by human rights lawyer, Mr. Femi Falana(SAN), on fuel importation and sundry matters. The Corporation in a letter by its lawyer, O. B. Omale, addressed to Falana, said the law that established NNPC, precludes it from one of the government’s body under obligations to disclose information under the FoI Act.

Nigerian National Petroleum Corporation (NNPC) has dismissed rumours of an approved N36billion compensation said to be due to Alesa-Eleme community in Rivers State as royalty for playing host to the Port Harcourt Refining Company, a subsidiary of the corporation. The corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, traced the origin of the phantom compensation story to a traditional ruler, regarded as a claimant to the Alesa-Eleme traditional stool.

The appreciation recorded by Nigeria’s currency- naira in the various segments of the foreign exchange market last week is expected to persist this week, even as the external reserves continued on a downward trend, falling by $177 million in two weeks. This is due to increased dollar sales by the Central Bank of Nigeria, CBN, in its effort to stem the depreciation of the naira.

The Central Bank of Nigeria (CBN) continued its intervention on the Interbank Foreign Exchange Market. The CBN on Friday with an injection of 331.41 million dollars to alleviate dollar shortages. The funds were allocated to companies in the agricultural, airline, petroleum and machinery sectors.

The United States of America dollar, on Friday, June 1, edged higher after posting its biggest monthly rise since November 2016 in May against a basket of rivals .DXY. It headed back towards a 6-1/2 month high of 95.03 hit earlier this week. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.2 percent at 94.154.

Visa payment systems crashed yesterday, causing chaos in Cambridge and across the UK. However, the payment network has said it’s systems are back up and running following yesterday’s crash. It also said the crash was not a result of “unauthorised access or malicious event”. But it apologised, saying it fell “well short” of its goal to "work reliably 24 hours a day".

Emerging reports say Nigerians who consume alcoholic beverages and tobacco will from today (Monday) pay more for the products as the new excise duty rates approved by President Muhammadu Buhari in March come into effect. This was made known by the Minister of Finance, Mrs. Kemi Adeosun, on Sunday in Abuja.

The Minister of Budget and National Planning, Senator Udo Udoma, has restated that Nigeria’s economic outlook for 2018 and over the medium-term is very positive. He indicated that the government was rolling out initiatives, such as the Economic Recovery and Growth Plan focus labs, aimed at attracting sufficient private sector investments to ensure that the country would achieve the growth target of seven per cent by 2020.