The International Monetary Fund said it is resuming loan disbursements to Chad after the Central African oil producer reached an agreement in principal to restructure its more than $1 billion debt to Glencore and four banks.
The IMF also said in a statement late on Friday that it expects Chad’s economy to grow by 3.5 percent this year, after it contracted by 3.1 percent last year, assuming the terms of the February agreement with its lenders are implemented.

Investors and shareholders were left confused on Wednesday after Oando’s shares were placed on technical suspension again after an announcement that it had been lifted.

The shares had been placed on technical suspension during a disagreement between shareholders and the company’s management.

The Nigerian Stock Exchange had earlier notified Ayotola Jagun, the company’s secretary, of the resumption of normal trading activities on Oando’s shares.

The European Bank for Reconstruction and Development is eyeing a new wave of expansion into sub-Saharan Africa and new parts of the Middle East in the coming years that could raise its lending by as much as a third, its president told Reuters.

Set up in 1991 to invest in the ex-communist economies of eastern Europe and owned mainly by big Western governments, the EBRD has been rapidly expanding over the last decade to operate in more than 30 countries from Morocco to Mongolia.

But with capital still abundant, the bank is looking to advance further south and plans to get the ball rolling when its shareholders gather in Jordan next month for their annual meeting.

The Federal Government says the planned establishment of 14 rice mills in the country will attract N250bn worth of investments to the sector, as well as create job opportunities for youths. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh stated this recently at the AgroNigeria High-level Rice Conference in Abuja. He explained that the move would attract hundreds of billions of naira to Nigeria’s rice value chain.

The Nigerian Stock Exchange (NSE) is pleased to announce it will be migrating Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc to its Premium Board on Monday, April 16, 2018 sequel to them applying and meeting the Exchange’s listing requirements for the board.

The Premium Board is the listing segment for the elite group of issuers that meet the Exchange’s most stringent corporate governance and listing standards. The Board is a platform for showcasing companies who are industry leaders in their sectors. Premium Board features companies that adhere to international best practices on corporate governance and meet the Exchange’s highest standards of capitalization and liquidity. The Board gives a company access to a global pool of investors who are focused on companies managed in conformity to the highest standards in their target markets.

Nigerian financial institution Zenith Bank Plc is enhancing the ability of its customers to perform international transactions with the introduction of the Zenith Bank British Pounds and Euro Visa Debit Cards. The cards are designed to provide customers with more spend flexibility by enabling them access their Pounds and Euro domiciliary accounts from anywhere in the world.

The Naira, yesterday, appreciated for the first time this week by 57 kobo to N359.81 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market. Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E also known as Nigerian Autonomous Foreign Exchange, NAFEX,

Subsea 7 S.A. today announced the award of a substantial contract by Mobil Producing Nigeria Unlimited (MPN) for the Production Uplift Pipeline Projects (PUPP) in shallow water, offshore Nigeria, valued at about US$300 million.

The contract scope includes engineering, construction, transportation, installation and pre-commissioning of 20 km of 24 in. corrosion resistant alloy (CRA) pipeline between the Idoho Platform and the terminal onshore and of 2 km of 24 in. CRA pipeline between the Edop and Idoho Platforms, as well as associated topside modifications and tie-ins at both ends.

The National Bureau of Statistics (NBS), yesterday, said the average prices paid by consumers for Premium Motor Spirit (petrol), Kerosene, Liquefied petroleum gas (cooking gas) and Automotive Gas Oil (Diesel) dropped in March by 5.3 percent to N163.4 from N172.5 in February 2018 while price for Kerosene decreased by 6.79 percent to N269 in March from N288.57 in February 2018.

The Group Executive Director, Finance and Account of the Nigerian National Petroleum Corporation (NNPC), Mr Isiaka Abdulrazak said the corporation made a trading profit of N250 billion in 2016.

Abdulrazak stated this in a quarterly publication of the NNPC, a copy of which was obtained by the News Agency of Nigeria (NAN) on Tuesday in Abuja.

According to him, his office inherited 65 unaudited financial statements between 2011 and 2014.

He said that though, there were challenges that led to the backlog, a Project Steering Committee chaired by him was constituted to meet with auditors and all relevant stakeholders to identify and isolate key challenges and give them priority attention.