10 September 2018
Power firms fail to provide meters for 58% of customers: Electricity consumers have expressed disappointment as nine of the 11 power distribution companies in the country have not supplied meters to more than half of their customers.(Source:Punch)
Airports recorded 4.9% decline in passenger traffic in Q2: The number of air passengers dropped by 4.9 per cent from 3.85 million in the first quarter of this year to 3.65 million in the second quarter, a report on the aviation sector released by the National Bureau of Statistics has revealed.(Source:Punch)
FIRS to raise tax-to-GDP contribution by 20%: The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period.(Source:Punch)
Insurance sector grew by 6.07% in Q2 –NBS: The insurance industry, which accounts for 16.02 per cent of the financial sector, grew by 6.07 per cent in the second quarter of 2018 financial period, according to figures from the National Bureau of Statistics.(Source:Punch)
CBN to Sell N1.024 Trillion Treasury Bills in Q4: The Central Bank of Nigeria (CBN) is to auction treasury bills worth N1.024 trillion in the fourth quarter of this year.(Source:Thisday)
Stakeholders Kick against Proposed Single Gateway for Telecoms: Telecoms stakeholders under the aegis of the Association of Licenced Telecoms Operators of Nigeria (ALTON) have rejected the proposed implementation of a Single International Gateway (SIG) for Nigeria.(Source:Thisday)
Equities Market Dips to 52-Week Low on Continuing Bear Run: The equities market fell to a 52-week low last week as the bears consolidated their hold on the market. The persisted selloffs in bellwether counters led to a decline of 2.3 per cent in the Nigerian Stock Exchange All-Share Index (NSE ASI) to close at 34,037.91.(Source:Thisday)
FMDQ: Investors Splash N99.5tn on Short-term Instruments: Investors desirous of quick gains from their investments have invested about N99.50trillion in short-term money market instruments in seven months on the platform of the FMDQ OTC Securities Exchange market.(Source:Thisday)
NSE to sanction seven banks, 21 firms for poor governance: The Nigerian Stock Exchange (NSE) may sanction 28 companies for failing to meet post-listing requirements, timely release of operational reports and financial statements.(Source:The Nation)
NAICOM to publish names of Tier 1, 2, 3 firms in Oct: The National Insurance Commission (NAICOM) is planning to publish the names of insurance firms and their categories next month.(Source:The Nation)
Forex: CBN injects $303m, CNY 46.58m into retail SMIS: The Central Bank of Nigeria (CBN) has injected $303.91 million into the interbank retail Secondary Market Intervention Sales (SMIS). This is in addition to the sale of Chinese Yuan (CNY) 46.58 million in the spot and short-tenored forwards.(Source:The Nation)
HI’18: Gross earnings of Tier-1 banks down by 0.9% to N1.3trn: There are indications that the sluggish economic environment may have taken a toll on tier-1 banks forcing their aggregate topline figures into negative position in the first half of 2018, H1’18.(Source:Vanguard)
Total’s $16bn Egina first oil under threat as Ladol sacks Samsung from dockyard: The production of first oil from Total’s $16 billion Egina project is being threatened as the management of Lagos Deep Offshore Logistics, LADOL, banished Samsung Heavy Industries, SHI, from its dockyard.(Source:Vanguard)
Reporting for EasyKobo on Monday , 10 September 2018 in Lagos, Nigeria