2019 Budget Unsupportive of Economic Growth – Experts

As Nigerians continue to relish last week’s passage of the 2019 Appropriation Bill into law by the Senate, some financial analysts have said the budget may not support the growth of economy as expected. Click here for more.

I’ll tell Niger to use Kaduna port, not Lagos – El-Rufai

The Governor of Kaduna State, Nasir El-Rufai, plans to send a delegation to the Republic of Niger to tell it to start receiving goods at the Kaduna Inland Dry Port instead of using the seaports in Lagos State. El-Rufai disclosed this on Tuesday while speaking on the sidelines of the ceremony for the commencement of cargo delivery by rail to the Kaduna Inland Dry Port. Click here for more.

FG names Shell, Eni executives in $1bn bribery case

Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive Officers, were tied to more than $1bn in bribery payments. Click here for more.

Apapa gridlock eases as decongestion processes commence

Ijora Bridge, which is one of the two major routes to Apapa, Nigeria’s premier port city, has been largely free of its usual gridlock in the last four days as a result of the opening of the Lilypond Terminal, taking away a good number of container laden trucks off the bridge. Click here for more.

Investors Lose N37.76bn As Market Sentiment Remains Negative

Equities market closed yesterday on a negative note, as NSEASI depreciated by 0.34% to close at 29,096.41 points as against 0.05% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at  7.43%. . Click here for more.

NSE To List N8.5bn Corporate Infrastructure Green Bond

The Nigerian Stock Exchange is set to list North South Power Company Limited’s N8.5bn corporate infrastructure green bond on the floor of the Exchange today (Wednesday). The 15-year series 1 guaranteed fixed rate senior green infrastructure bond would be offered at 15.60 per cent and would mature in 2034. Click here for more.

FCCPC, SEC to Review Mergers

In order to ensure continuing and seamless commercial transactions and market operations, the Securities and Exchange Commission (SEC) and the Federal Competition & Consumer Protection Commission (FCCPC) formerly Consumer Protection Council (CPC) have come to a mutual understanding with respect to review all mergers and other business combinations or arrangements. Click here for more.

CBN Grants Advans-La Fayette MFB National Banking Licence

It said that as a member of the Advans Group, the bank was granted licence as a financial institution by the apex bank in 2012, and started offering a complete range of financial services and means of payment to its customers including savings accounts, current accounts and fixed deposit accounts.  Click here for more.

MTN Nigeria Registers 20.35bn Shares

MTN Nigeria Communications Plc on Tuesday announced that it had successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission. Click here for more.

Foreign Investments In ICT Exceed $42b

The Minister of Communications, Dr Adebayo Shittu yesterday said foreign direct investments (FDIs) in the information communication technology (ICT) sector have exceeded $42 billion. Click here for more.

Reasons to have more than one business account

There are many reasons for this, including security concerns and having the ability to track expenses. Setting up a second account can also be an opportunity to change banks, which might be a good idea if you can get a better deal with a different business banking provider. Click here for more.