|Economy|
Profit-taking halts bull run on the NSE: Profit-taking on the highly capitalised stocks halted a three-day bullish trading at the stock market on Thursday. Consequently, the  Nigerian Stock Exchange (NSE) All-Share Index declined by 0.26 percent to close at 42,918.55. The market had maintained a positive momentum since Monday, rising by 4.6 percent in the process. However, profit taking halted the positive move. Source: Thisday

New BDC guidelines to conserve Foreign Reserves — CBN : The Central Bank of Nigeria (CBN) has reiterated that the Bank’s modifications to the guidelines on the regulation of Bureaux de Change (BDCs) in Nigeria are aimed at conserving the country’s foreign reserves, among other objectives. The CBN had observed that many operators were only interested in widening margins and profits from the foreign exchange market, regardless of prevailing official and interbank rates. Source: Vanguard

|Banking|
Wema Bank half-year profit rises to N1.7 billion: Wema Bank has disclosed that its half-year pretax profit was N1.7 billion ($10.5 million), an increase of  266 percent from the N464.7 million the lender recorded in the same period last year. Gross earnings rose to N12.5 billion during the six months to June 30, against N10 billion a year earlier. Source: Businessday

|Infrastructure|
Ikeja Disco injects N1b in power infrastructure upgrade: The Ikeja Electricity Distribution Company (IKEDC) has injected about N1billion to improve electricity supply through the completed and ongoing projects within its network. The Managing Director and Chief Executive Officer of the company, Abiodun Ajifowobaje, disclosed that the company had spent over N1 billion on system development and projects completion as against the N600 million for quick intervention on transformers installations and pre-paid meter installations. Source: The Guardian