Fed Govt Lost N4.6tr To Import Waivers In Two Years
About N4.6 trillion was lost by the Federal Government to the waivers that were granted to importers in 2017 and last year, it was learnt yesterday. The loss was incurred through the Finance Ministry due to non-implementation of the Import Duty Exemption Certificate (IDEC) project. Click here for more.
$22.2m Abacha loot spent on empowerment schemes – FG
The Federal Government on Thursday said that it had spent $22.216m out of the $322m recovered loot from the late Head of State, Sani Abacha, on various empowerment schemes. The spending, according to the government, is part of the strategic efforts to lift millions of Nigerians out of poverty. Click here for more.
Harsh economy, sluggish growth shut down 18 reality TV shows
Nigerian companies are overburdened by the difficult operating environment occasioned by poor infrastructure and unfriendly government policies that have eroded consumer demand as well as their margins. This has forced the companies to rejig their marketing strategies by cutting down on social spending and other marketing platforms, including reality TV shows. Click here for more.
NPA Partners Navy on Maritime Security
The Nigerian Ports Authority (NPA) and the Nigerian Navy (NN) have resolved to work in unison towards ensuring the security and safety of the nation’s territorial waters and maritime domain. Click here for more.
Investors Gain N146.39bn As Market Sentiment Remains Positive
Equities market closed yesterday on a positive note, as NSEASI appreciated by 1.07% to close at 31,477.51 points as against 3.07% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 0.15%. Click here for more.
Treasury Bills Issuance Falls By N1.153tn In One Year
The Nigerian Treasury Bills issued and allotted fell by N1.153tn in the 2018 financial period. The total value of NTBs issued and allotted was N3.34tn apiece, indicating a decline of N1.153tn or 25.65 per cent below what was alloted in 2017. Click here for more.
Summary of FGN Bond Auction Results For May 2019
Auction Result for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 14.55%FGN APR 2029 (Reopening 10-Year Bond) & 14.80% FGN APR 2049 (Re-opening 30-Year Bond). Click here for more.
Investors Shows Stronger Demand For The 30 Year FGN Bond At The May 2019 Auction
At the May 2019 FGN Bond Auction held on Wednesday, May 22, 2019, the Debt Management Office (DMO) offered three (3) instruments for 5, 10 and 30-year tenors to the investing public, with a total amount offered of N100 billion. Click here for more.
Stamp Duty: 16 Commercial Banks Fail To Remit N1.6bn To FG – Reps
The House of Representatives has recommended that 16 commercial banks be penalised for not remitting N1.6 billion stamp duties into the federation account. The House made the recommendation on Thursday when it adopted a report on non-remittance of trillions of naira of stamp duties by financial institutions into the federation account. Click here for more.
At $67, Crude Oil Price on Track for Biggest Weekly Drop
Crude oil prices plunged to $67 per barrel Thursday, losing about five per cent as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months. Click here for more.
NERC Grants Kaduna, Eko Discos MAP Permit 3 Weeks After Deadline
The Nigerian Electricity Regulatory Commission (NERC) yesterday announced the issuance of permits to Companies that would operate the Meter Asset Provider (MAP) initiative in Kaduna Electricity Distribution Company (KEDC) Plc and Eko Electricity Distribution Company (Eko Disco) Plc. Click here for more.