The African Export-Import Bank (Afreximbank) has pledged to support Angola’s trade with 2 billion dollars. The Bank President, Dr Benedict Oramah, who made the pledge during an audience with President João Manuel Gonçalves Lourenço of Angola in Luanda said that the amount would include various trade financing facilities for essential imports.

The Federation Accounts Allocation Committee (FAAC) says members have agreed on the transfer of N24.5 billion to the excess crude account. Mahmoud Isa-Dutse, Permanent Secretary in the Ministry of Finance, made this known on Wednesday while addressing journalists at the end of the meeting.

The Acting Chairman of Nigeria’s Fiscal Responsibility Commission (FRC), Mr Victor Muruako, says more than N650 billion has so far been remitted as operating surplus into the Consolidated Revenue Fund (CRF) in the last two years. Muruako said it was part of the FRC’s mandate to ensure that scheduled corporations under the Fiscal Responsibility Act (FRA) 2007, remit 80 percent of its operating surplus into the CRF.

The federal government has approved the relocation of pipelines along the Escravos channel to curb delay in supply of petroleum products and reduce under-recovery. In a statement released by Ndu Ughamadu, Nigerian National Petroleum Corporation (NNPC) spokesman, said the relocation is to make allowance for the dredging of Warri Escravos Seaport.

The globally renowned aircraft manufacturer, Boeing, has met with the Federal Government to discuss the setting up of a national carrier for Nigeria. Although the government did not disclose if it had chosen Boeing as its partner for setting up an airline for the country, it stated that the meeting with the aircraft manufacturer was in furtherance of its resolve to establish “a new carrier soon.”

The Central Bank of Nigeria has urged customers to report banks that refuse to sell Basic Travel Allowance and Personal Travel Allowance to them. The apex bank said this in a statement on Tuesday. It said it has reliably gathered that some banks are turning back customers that come to purchase BTA/PTA and forex for pilgrimage.

The Nigerian Stock Exchange, public and private sector executives in the capital market have indicated the need for discretion in investment decisions especially by retail investors. The Cowry Asset Management Limited speaking against the backdrop of declining foreign investors’ interest in equities in the first quarter of 2018, Q1’18,

Nigeria’s daily oil output has dropped by 150,000 barrels per day (bpd) as a result of the shutdown of Nembe Creek Trunk Line belonging to Shell Petroleum Development Company (SPDC) Nigeria limited shutdown. In its 2018 budget, the Federal Government had earlier projected to produce 2.3 million bpd at the reference price of $51 per barrel. But with this development, the target would not likely be met.

South Africa’s rand weakened in cautious trade early on Friday as investors took profits from a rally in the previous session ahead of a ratings decision by S&P Global. At 0640 GMT the rand was 0.42 percent weaker at 12.4675 to the dollar. That was down from Thursday’s one-week best of 12.3850, touched briefly as the South African Reserve Bank kept interest rates unchanged, citing slightly higher inflation risks.

The Fiscal Responsibility Commission (FRC) says the nation raked in N5.043 trillion as federally collected revenue in 2016, indicating a shortfall of N1.063 trillion from N6.107 trillion compared to 2015. The figure is contained in the commission’s 2016 Annual Report and Audited Accounts made available to news reporters on Tuesday in Abuja.