Top Financial News   

24 September 2018

2019 polls: Foreign investors withdraw N435.41bn from stock market: According to the latest data from the Nigerian Stock Exchange, a total of N435.41bn was withdrawn from the market from January to July this year, compared to an outflow of N236.32bn in the same period in 2017.(Source:Punch)


FIRS collects N13bn from billionaire tax defaulters: Less than a month after it commenced its substitution of accounts of recalcitrant billionaires who have not been paying commensurate taxes, the Federal Inland Revenue Service has announced the collection of N12.66 in tax revenue from this category of Nigerians.(Source:Punch)


Textile industry to attract N610bn investment: The Nigerian cotton industry will soon receive an investment of $2bn (N610bn) that will enable the country to create its first ever cotton value chain sector.(Source:Punch)


Nigeria records $45.7bn investments in six months: The Nigerian economy recorded a total investment commitment of $45.7bn in various sectors of the economy within the first six months of this year.(Source:Punch)

Stock Market Recovers N78bn as Three Weeks Decline is Halted:  The Nigerian bourse recovered part of losses of recent weeks as bargaining hunting in value stocks across sectors lifted the Nigerian Stock Exchange All-Share Index (NSE ASI) by 0.66 per cent to close at 32,540.17.(Source:Thisday)


NCC: Charges, Destruction of Telecoms Facilities, Will Hinder 30% Broadband Penetration: The Chairman, Board of Commissioners, Nigerian Communications Commission (NCC), Olabiyi Durojaiye has warned that indiscriminate charges on telecoms operations by various state governments, coupled with the destruction of telecoms facilities, will impede the planned achievement of 30 per cent broadband penetration, unless new measures are taken.(Source:Thisday)


Customs Seizes Contraband Goods Worth N414.7m: The Nigeria Customs Service (NCS) has announced its seizure of contraband goods worth NN414.71 million smuggled into Nigeria through the land borders across the country.(Source:Thisday)


BPE: FG Spent N13tn to Set up 590 Dysfunctional Enterprises in 23 Years: Between 1975 and 1998, a period of 23 years, the federal government spent N13 trillion to set up 590 public enterprises that hardly returned any reasonable profits or service gratification to it or Nigerians, the Bureau of Public Enterprises (BPE) has disclosed.(Source:Thisday)

From Skye Bank to Polaris: How poor corporate governance blew away N2trn assets: The Nigerian Stock Exchange, NSE has notified the investing public that the shares of Skye Bank Plc will be suspended from trading on the floor of the Exchange effective Monday, 24 September 2018.(Source:Vanguard)


TBMSC: NAICOM to order recertification of insurers quarterly: The National Insurance Commission, NAICOM, says that insurance companies will have to renew their operating licenses every quarter when the Tier Based Minimum Solvency Capital, TBMSC, regime kicks-off.(Source:Vanguard)

TCN raises Okpella substation by 300%, installs 30 transformers: The Managing Director of the Transmission Company of Nigeria (TCN), Mr. Usman Gur Mohammed, said the capacity of Okpella Substation has risen by 300 per cent and that TCN has installed 30 transformers in the past 15 months.(Source:Daily Trust)

Reporting for EasyKobo on Monday , 24 September 2018 in Lagos, Nigeria

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