Top Financial News   

29 October 2018

Airlines groan as FG delays VAT waiver implementation: Four months after issuing an Executive Order for the removal of Value Added Tax from air transportation, the Federal Government has failed to implement the directive.(Source:Punch)


We’re being forced to reduce generation – Power firms: Electricity generation companies in the country have said their power plants are being forced to operate below their optimal capacity levels.(Source:Punch)


Nigeria to benefit from UK’s £1.2bn digital inclusion fund: Nigeria is set to benefit from £1.2bn intervention fund, which the British government plans to pour into a number of countries to bridge access to communication.(Source:Punch)


CSCS to begin cross-border data exchange in Africa: The Central Securities Clearing System Nigeria Plc has completed an innovative pilot scheme that will allow cross-border data exchange in Africa.(Source:Punch)

FG’s unpaid subsidy arrears affecting our operations —Marketers: Depot and Petroleum Products Marketers Association, DAPPMA, said, yesterday, that unpaid subsidy arrears of over N650 billion by the Federal Government posed huge financial challenges to the downstream operations.(Source:Vanguard)


We inherited $63bn debt, borrowed $10bn since 2015 — Osinbajo: Vice President Yemi Osinbajo has said the Buhari-led administration inherited a debt of $63 billion and has only borrowed $10 billion since it took office in 2015.(Source:Vanguard)


PoS transactions rise by 57% to N1.6tr in Q3’18: Value of Point of Sale (PoS) transactions grew by 57 percent  quarter-on-quarter, QoQ, to N1.6 trillion in the third quarter of 2018, Q3’18, from N1.02 trillion in Q2’18, while    Nigerians opened 4.4 million bank accounts during same period.(Source:Vanguard)


Top banks struggle to grow earnings, profitability: Aversion for credit risk may have begun to take more serious toll on top banks in Nigeria, otherwise referred to as tier-1 banks.(Source:Vanguard)


PenCom Unveils Guidelines on Voluntary Contribution: The National Pension Commission(PenCom) has released official guidelines on voluntary contributions into the Contributory Pension Scheme (CPS).(Source:Thisday)


Consumer Confidence Projected to Rise in Q4: The Central Bank of Nigeria’s (CBN) Consumer Expectation Survey (CES) has predicted a positive outlook for next quarter as well as the next 12 months.(Source:Thisday)

Firms get 24 hours deadline to submit third quarter reports: Companies quoted on the Nigerian Stock Exchange (NSE) have up till the close of business tomorrow to submit their financial statements and reports for the third quarter of this business year.(Source:The Nation)

Reporting for EasyKobo on Monday ,29 October 2018 in Lagos, Nigeria

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