Archived edition · 22:22 Lagos
Tuesday 29 September
- New articles analysed in today’s runs
- 32
- High-risk articles today
- 1
- Board appointments today
- 0
- Contract awards today
- 3
Key Developments
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Financial System Stability
The Central Bank of Nigeria (CBN) reports that ongoing FX reforms and recapitalization efforts are strengthening the national financial system ([theeagleonline.com.ng](https://news.google.com/rss/articles/CBMipAFBVV95cUxORFBjajBmb1ozMEgwTDhoMnp5Q0dXTllwUHNkeUxPTk45OTJBSFRycGlpMmJFa05NU0tDdXZ0bFhUVy04RDdXczJERkU3dHJGajF1U29kQnR3bDJiY0puNXFqS3FvQ253OFhhMHp5eUFiWk0xVEstaXBCNnY1OXZrYUh5cEIzM2M0RjFWQ1FHejBpRVdaRWF0UTB6WEtrY2RodVl4VA?oc=5)).
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NNPC Financials & Structure
NNPC reported a profit of N7.2 trillion despite revenue declines ([Vanguard News](https://news.google.com/rss/articles/CBMijwFBVV95cUxQdVJOZk91ZGFqaHJKWExNRnFJVTZVOFd2T213aGQ4bmxodXY3MllIM0lHbW9wYmJEdmxUaWtlR2xRYktCNzhkWGNHbEtkYzNfUEdrbWlLX0l6dmxsUGZIQ0twM1hSdXEwcXZsVjVudjgxbjBsUkdQLXVJUERvb1Ntb3Q2MmRRYjAycUdnNEVOONIBlAFBVV95cUxPQ0RZdGs1RDhtZTE4TEI1Y3Awdi1lZXVQTktBN0lCLXFvekZyam1NT0JuWWVxU2R3azFjcEFNRWc0V1FBM1I4S2FLNW44ZUlOd1J0TlpuZzVDeFNVeTZRSWpjNGdiNjZBWWhmeWs4ejRpM3Qtb2VrUUJBNF9YbXQ4Z0hmZDZ2NDcydmVMNGVxOUZnb05z?oc=5)), though the company confirms no fixed date for its proposed IPO ([Punch Newspapers](https://news.google.com/rss/articles/CBMiaEFVX3lxTE5VY29fS3laX09iMXpKczAxT0tBblN6T2tjRFhKVTRxdVJrSWZ4cU0yQXFUN1dpRC02ZXBIMzNQR2NkdmQ0TFl3Q19uVmlYeDhaZmxhTHFXVGlORm5BUXhHSTd4azNrQmcy?oc=5)).
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Trade & Infrastructure
DP World has partnered with TGI Logistics to deepen Nigerian trade ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMitAFBVV95cUxQUExVRDh5N01EaUN2cDY0OG11X0dzb2FmNTQ0SnpZaDI0M1I5U0NtVkQxVjBSRDhGLWdUN0Iyb1BTbHFva183Z2FVNWl6QXFJNUpWcWRrcTdzTEhRdU9Qc0pLMFBwQXdCTWhPVlJaeEJxSmlIcWEzWVVSUWRjYjBwd2lwOUVxeWQ0cjgyRmJHYmlqdlAxUVh0MW0xeksxdnlPTjdfazVFd3pxVVlzZGZCcm5CV3A?oc=5)), and the government is collaborating with UNIDO on a livestock tracking system for exports ([Punch Newspapers](https://news.google.com/rss/articles/CBMigwFBVV95cUxNQXgzMG1kSWFmczFnek5WaVZFaU4wN0drQ3lUZURCYnBVTThMSTFvUVp6X3o0VHZqY3ZfVkRwT0luODZNRzFxaTFZY1BkTm03bXJTNndRdzdHSkMwa0hLUkdBOWJsdGpSYjNEUmU5UzU1bG1wZWJ3dHhYbEJBNzQyaGxlYw?oc=5)).
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Other Sector News
Coremars entered the mutual fund market with a N1bn offer ([Punch Newspapers](https://news.google.com/rss/articles/CBMihwFBVV95cUxNY1hWQ2Y2VW05ajJGQXMwMFJKb1E0X0FjZFZRZGZGZGQ3NHRPWnBtVVJoV0pab0Zvd3IwZFVDZkRVUmpZZU85ek5hMWswaW1wcmNqSXN2bGljak9tN3FYWDBNSmdNQ0xpM1V5R1lUQlZlMkdORktmV2hPMHpOMTdOWk1uWHBlLTQ?oc=5)) and Continental Re launched a $156 million African market offer ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiqAFBVV95cUxPM2ZrdzRqWXZpN184NDNPWlFSUDlDZkVSQk1iMVdvdmplXzQ0dHFMc1RKU2xjMk5xS2t4bWx3T3RRNzYxV2FLeE44cGhGZlNSdDZXWVA2b0NScmZxRTNaSEs3Z21RTkdBQmJ0a290cGU0SGUzOGlVdlR1Sk9Id2VCQnctYU5GdHFiQlhzN09mMmkzQXZ0eHlaWVlSZEFvcTBJNXdTRTR5aWs?oc=5)).
High Risk Alerts
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Corruption Allegations
Former VP Atiku Abubakar is responding to reports concerning international corruption cases involving him and his former spouse ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi5AFBVV95cUxOZHE3NUQ1ODYyN00taUt4Z2xPQVBEUm9zVElvZnhnNVBBenFKQkNwajFZRF9GWVpwSjFhNWZDUkNwTVdfdmF5NlJQR3piQ3NhcFI1RTNDUmpNelJnTEZPR1FIZ3dQNWlBSENGbE9WUjcwYmk5UWxmeVVwQ3R1QWlESm0tcHJ5NWoweWd0TFo3dC1WTUhhLU1DZllEYlItNjZZd2VVMHk3U1RZaDk0ZS1YU3NEX3R1VkQtV09tWGFtSHZ6ZTdMOEtKZ1RKU3RoWUFpNGJUWlhMVDd0WlVoYUV5Wllva2w?oc=5)).
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CBN Audit Disputes
The House of Representatives is scrutinizing the FRC's position on the CBN's audited accounts following concerns raised by Special Investigator Jim Obazee ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMilAFBVV95cUxNRjd0aUZJM1VNbk52dVNzVTljT29QemlTRlZ0UGlmUE44TVBYeWh4OWpWbGN6QkZBb3g0UVhJRVI2RzdoQ2pNWnE4RDBqNWlCV1AwbGl4Z1p6RTJ6R25WSm5zQ3hEcS1WQWppUUliblM4clc0X2M4dXNZTS03YmJMNnNiREJ3R0pUWkZFdTNGMHR0aFhh?oc=5)).
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Project Legal Disputes
Arbitration persists regarding the Mambilla hydropower project, involving former Attorney General Abubakar Malami ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiogFBVV95cUxPeEdnWUNoS3pvc3dmQ2pmVnRUdGZsSmU3NVRjVlFaa0hnOUktejNicnN1eVZxd3RBU2hsd1JIN3N5ckJhZW1Kc0YySmtYNVJwSFVqV2JJb2Z6eUlvdVY3czhhN3BjZTZHdHVWQXNLU01ucnZVaEFod05udTliSkxPaUNYcVdSY3lfTVlfQ1N1Ny1kZTgtLUpfZGlscjllMkZSRGc?oc=5)).
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Financial Crimes
The EFCC is investigating a suspect arrested at Kano airport with $265,000 in cash ([premiumtimesng.com](https://news.google.com/rss/articles/CBMixwFBVV95cUxPMGlNb1JqLU1STmpXS19aWDVKalVuZlZiZGtfVjd3SldnM1h4R3UxZEFvUk9yenVaemJhU1FRSjZIMEtnSjhjUzFXTFFOVEZoZm55S1lRN3p1M0tqUVFhYXh0YzBCNHp3dnBEUHA5WVYzZG1rUUJSaDM2MjJZTTZETFcwclQyaEk0SzFnQlBKLThaNF9XVnJFUG16QjBqcF84MkJVd3dGSVg2aU9fbDY2TlBpZXU5YXN5WngzVVNsaU1ZRTBYMW8w?oc=5)).
Beneficial Ownership & PSC Disclosures
No PSC disclosures were identified in the provided dataset.
Procurement & Board Changes
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Security Procurement
The Sokoto State government allocated N1.59 billion for the purchase of 30 Hilux vans ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMinwFBVV95cUxOVUZza2RqbUE3U3NVMThJVGNrTlZPZWlYNjk5WE1IZU02b0puYWhHS2JWU3lZUm5jU05YWlpQaTZMQXEtWkV0UEJhaW1uaFZ3WWlxa05jNGk0VW1jUFFSLWFUM0p4NXhkVWxXbkVicE54T2h3cks1U3RmNll1d1lieU0zOFNIVF9QSktyZVEySW9Hd0dnRlBWMGZrUVdjdUk?oc=5)).
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Infrastructure Partnerships
NNPC Biofuels and Ogun-Osun River Basin Development Authority signed an MoU for a €256 million bioethanol plant ([Punch Newspapers](https://news.google.com/rss/articles/CBMilwFBVV95cUxOa0hxVzA5WEVxblZtY0NqVnFiWWc5QTBJQ0trYm9yRUFTNnd4cUxLbUFQckVCR0g1MUlMS29Wc3JEMWVqcnQzZ3dHMUVNYjZUVWE0c0huZERzVzI2aWhxWWZ6SmtHV0JnQV9KRHNPbHpBVXYyUmhIdlhLS3hRZmFTN0YyV2FhU2IzQXN4eUhMWGZmcDM0MGtV?oc=5)).
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Refinery Revamp
Official Ojulari detailed the selection of Chinese firms for the revitalization of Nigerian refineries ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMiyAFBVV95cUxOS0JrVEZFMWkwZk5vMWdNemxzSGgxNGk2Rkh2bllKUU1ucFYyTmhCWTN1ZG5rcU03ZE96QzFFcDExYWlTVERFUXZwckgwN0hTdFZGel8tNnk1SnNyMmw0NU42RGhHajNzcFpZTGx6MHpDVV9XUTRqbkk2b1ZTNEs5aERRQlpoRkZZbFpHRVY5aUxaNVl2TkRuVUtZTS0zRHhLY2RIa1ZhUHJKWDBQSVZqZ1IxdXZub2x2SEVlaS11THpRcDdsbWdLbQ?oc=5)).
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Other activity
CSOs are demanding independent verification of public projects linked to allegations against Adeola ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi4gFBVV95cUxPaXhPLWFIaUtDclpWN090d0xaOW0ydnNmQTAtb1g0ZTlaZV9YY3B4Y2RncHA5UEMtVTZkQzVDa01MeW52ZVllQmtzTHR0R00zczBJWjBxZXJsVFRtTjFrb3pqYzdlYlNfM0hINUgzMk1zT2N5RU9aeE5xRkdidnVsc2NxUTVDdUF0TFAwODJHMlJYWEsya2pBZ200SUU5WjZUSEJQV0xET0RNUTBEUjl2ZFdoY0VHUm9KeTJxRm9qUzF1bjBSM0FBek1KYzUyakVMbzVUUjJRVHY0Zkx6T1NCM1ln?oc=5)).