10 August 2018

$43m debt: Shareholders reject sale of 9Mobile: Shareholders of 9Mobile have cautioned the Central Bank of Nigeria, the Nigerian Communications Commission and others involved in an ongoing negotiation to sell the telecommunication firm not to proceed with the transaction in view of a pending case before the Federal High Court in Abuja.(Source:Punch)

PenCom restores 25% lump sum payment to retirees: The National Pension Commission has suspended the payment of 20 per cent lump sum to retirees under the Contributory Pension Scheme  and directed all Pension Fund Administrators to revert to the old template of 25 per cent.(Source:Punch)

Power grid collapse persists, drops twice in two months: Nigeria’s electricity grid is still witnessing system collapse as it recorded total failure twice in the last two months.(Source:Punch)

Pension assets rise to N8.23tn: Total assets under the Contributory Pension Scheme rose to N8.23tn at the end of the second quarter of 2018.(Source:Punch)

NSIA raises NBET’s liquidity with $417.4m: The Nigeria Sovereign Investment Authority on Thursday announced the payment of a total of $417.46m to the Nigerian Bulk Electricity Trading Company Plc.(Source:Punch)

31,594 microenterprises receive FG’s interest-free loans: The Federal Government, through the Bank of Industry, has disbursed MarketMoni loans to 31,594 microenterprises in Lagos State.(Source:Punch)

Jaiz to commence disbursement of $20m SMEs fund:  The Managing Director, Jaiz Bank Plc,Hassan Usman has said the bank would soon begin the disbursement of the $20m facility for operators in the Small and Medium Enterprises sector of the economy.(Source:Punch)

NACCIMA lauds FG on 5% credit facility to MSMEs:  The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has commended the Federal Government for its recent decision to establish  a five per cent credit facility for the Micro, Small and Medium Enterprises sector.(Source:Punch)

Nigeria loses N5bn annually to barite importation: The President of Association of Miners and Processors of Barite (AMAPOB), Stephen Alao, yesterday lamented that Nigeria loses over N5 billion worth of foreign exchange annually to the importation of barite by the oil and gas industry.(Source:Daily Trust)

Manufacturers, banks seek free registration for start-ups, long-term dev’t plan:  The Board of Economists at Daily Trust has recommended that the Corporate Affairs Commission (CAC) should introduce free business registration for start-ups to boost economic growth.(Source:Daily Trust)

‘DisCos extort N2trn yearly from electricity consumers’:  Some electricity consumers under the aegies of Association for Public Policy Analysis (APPA) have alleged that the 11 Distribution Companies (DisCos) rake in over N2 trillion annually by giving customers unfair estimated bills.(Source:Daily Trust)

Nigeria, ASEAN trade volume hits $7.7b: The Malaysia High Commissioner-designate to Nigeria, Gloria Tiwet, has said trade volume between the Association of Southeast Asian Nations (ASEAN) and Nigeria in 2017  stood at $7.7 billion.(Source:The Nation)

Nigeria spends N4.6b on steel imports yearly, says minister: Minister of State for Mines and Steel Development, Abubakar Bawa Bwari has lamented that Nigeria spends up to $4.5 billion on steel imports yearly.(Source:The Nation)

Seme Customs Generates N576m, Seizes Illegal Alcohol: The Seme Command of the Nigeria Customs Service (NCS) has announced that it generated the sum of N575, 623,365.00 as revenue in the month of July, 2018.(Source:Thisday)

FG to inject N300bn into auto industry:  The Federal Government plans to inject N300 billion into the nation’s vehicle assembly plants as part of measures to accelerate the development of the automotive industry.(Source: Vanguard)

Reporting for EasyKobo on Friday ,10 August 2018 in Lagos, Nigeria