Report
Research Team

Nigeria Coverage Aug 30 - Sep 5

• Pension fund assets reach NGN 8.23tn at end-June
• Government seeks USD 2bn in back taxes from MTN Group
• CBN forex reserves decrease by 2.7% m/m to USD 45.8bn at end-August
• Number of electricity consumers with prepaid meters up 2% q/q to 1.62mn in Q2
• Shares worth USD 64mn traded on NSE in week ended Aug 31
• NSE broad index drops 4.5% m/m as of end-Aug
• ExxonMobil says oil production threatened by blockade
• Capital inflows slow in July as tighter global liquidity bites
• China to provide USD 328mn loan for telecom infrastructure
• CBN's manufacturing PMI strengthens further in August
• President Buhari leaves to China to attend Africa-China cooperation summit
• Senate Speaker Saraki publicly declares his bid for presidency
• Executive returns key Petroleum Industry Governance Bill to parliament
• Net foreign portfolio equity swing to positive in July
• Theresa May pledges GBP 10.5mn for fight against terror and human trafficking
• CBN orders 4 banks and MTN to refund USD 8.1bn for breaching FX rules
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