|Economy|
CBN’s N150b intervention eases liquidity squeeze: The monetary policy intervention of the Central Bank of Nigeria (CBN) averted further liquidity tightening in the system within the week, which would have driven rates up across the market. The CBN softened the system with the N150 billion Open Market Operations’ maturity at the end of the week, making the rates on securities to decline further, as the Call and Open Buy Back (OBB) declined by additional 50 basis points to close at 11 percent and 10.75 percent respectively. Source: The Guardian

Aregbesola wins Osun elections: The voters in Osun have endorsed the All Progressives Congress (APC) candidate, Governor Rauf Aregbesola in Saturday’s election with 394,684 votes while  Otunba Iyiola Omisore of the Peoples Democratic Party (PDP) got 292,747 votes. Source: The Nation

|Corporate|
Etisalat Nigeria and IHS sign tower sale, lease back agreement: Etisalat Nigeria has announced the sale of 2,136 of its towers to IHS Holding Limited (“IHS”) as part of a broader strategy to drive improvements in the quality of its network performance, and to accelerate the roll out of it’s 2G and 3G coverage. Etisalat partnership with IHS is designed to promote network sharing, ensure higher quality, sustain reliable mobile services, lower overall costs and also promote a cleaner environment through reduced diesel usage. Source: Businessday

|Oil & Gas|
Forte Oil records 152% increase in half-year profit: Forte Oil PLC (formerly AP Plc) announced its audited results for the half-year ended June 20, 2014, showing sustained growth across its bottom-lines. The company’s profit before income tax increased 152 percent to N4.19 billion compared to N1.66 billion recorded in H1 2013. Similarly, its revenue grew 33 percent to N79.61 billion as against the N59.96 billion recorded in the same period in 2013. Source: Thisday