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BUSINESS NEWS BRIEF – SEPTEMBER 03, 2015

3
Sep

 

VANGUARD

Reps summon Finance Ministry, others over budget

Members of the House of Representatives yesterday summoned Finance Ministry, Budget Office, Fiscal Responsibility Commission, National Planning Commission, Debt Management Office and Revenue Mobilisation, Allocation and Fiscal Commission to explain why the 2015 Appropriation Act is not being implemented.[Read More…]

NPA introduces e-invoicing system, customer portal

Nigerian Ports Authority, NPA, yesterday, in Lagos introduced an electronic “Revenue Invoicing Management System and Customer Portal”in a bid to lower operational cost and shorten the time for documentation for port users.[Read More…]

THISDAY

Nasarawa to Get $1 Billion Investment from China

The Chinese government has given indications of plans to invest $1 billion in Nasarawa State in the next five years through an investment firm, Tongyi Group, as part of its strategic partnership to enhance trade and commerce between Nigeria and China.[Read More…]

VP Outlines Buhari’s Economic Programme

In what appears to be the unveiling of the economic programme of the President Muhammadu Buhari administration almost 100 days after assuming office, Vice-President Yemi Osinbajo has said the way forward for the country is social sector investment – investing in the people, education, job creation, national school feeding scheme, conditional cash transfer and reflating economies of the states as indices that will boost the economy.[Read More…]

Kachikwu: We Saved $287m in Port Harcourt Refinery Turnaround Maintenance

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu, has said Nigeria has saved over $287 million from the turnaround maintenance (TAM) of the Port Harcourt Refinery, Eleme.[Read More…]

PUNCH

CBN puts MSME financing gap at N9.6tn

The Central Bank of Nigeria has put the funding gap for the Micro, Small and Medium Enterprises sector at N9.6tn.The Assistant Director, Development Finance Department, Mr. Jonathan Tobin, gave the figure while speaking at the MSME development fund workshop organised by the Bankers Committee in Abuja.[Read More…]

States delaying N338bn bailout –CBN

The Central Bank of Nigeria has said states yet to receive their shares of the N338bn bailout for the payment of workers’ outstanding salaries are responsible for the delay.[Read More…]

AfDB expands African bond index

The African Development Bank on Wednesday said it had expanded its bond index as part of its commitment to bringing transparency to most liquid African bond markets.[Read More…]

UPDC to pay N859m dividend

UACN Property Development Company Plc has received the approval of its shareholders to pay N859.4m as dividend to its shareholders for the 2014 financial year.[Read More…]

No plan to sell refineries – NNPC

The Federal Government has said it has no plan to sell any of the refineries, but may encourage joint venture investments in the facilities.[Read More…]

Shell lifts force majeure on Bonny Light exports

The Shell Petroleum Development Company of Nigeria Limited has lifted the force majeure on Bonny Light exports following the repair and re-opening of the Trans Niger Pipeline and Nembe Creek Trunkline.[Read More…]

THE GUARDIAN

CBN renews partnership with Digital Encode over e-fraud

The Central Bank of Nigeria (CBN) has re-appointed an indigenous information security firm- Digital Encode Limited, as the sole technical partner to the Nigerian Electronic Fraud Forum (NeFF).[Read More…]

Nigeria to export 68 crude oil cargoes next month

Nigeria has concluded plans to export about 68 cargoes of about 2.04 million barrels per day (totalling 63.1 million barrels) of crude oil in October, the highest level this year.[Read More…]

LEADERSHIP

PenCom Enforces Remittance Of Workers’ Salaries To Pension Manager

Companies and establishment who deduct salaries of their employees but not remitting same to the designated pension managers will soon soon face the law.[Read More…]

Adamawa Has 3,000 Ghost Workers – HoS

Adamawa State government has uncovered over 3,000 ghost workers following the introduction of e-payment salary system in the state.This was disclosed by the head of civil service (HoS) Mr. Musa Kaibo, while briefing stakeholders over some of the achievements recorded through the introduction of the e-payment system in Yola.[Read More…]

BUSINESSDAY

Emerging central banks step in to curb currency falls

Central bankers across emerging markets are being forced into action to stem falls in their currencies, especially after China allowed its yuan to weaken to four-year lows.
A JPMorgan index tracking 22 emerging market currencies has hit successive record lows this year.[Read More…]

REUTERS

Asia shares stage patchy recovery but volatility seen staying high

Asian shares struggled to recover on Thursday with volatility remaining high, while emerging economy and commodity-linked currencies softened as investors worried about the global repercussions of slower growth in China.[Read More…]

BLOOMBERG

European Stocks Accelerate Gains Before ECB Amid China Holiday

European stocks rose for a second day as investors look for guidance from a European Central Bank meeting after a volatile month.With markets in China, the center of recent global turbulence, closed for a holiday, investors will focus on ECB President Mario Draghi, paying attention to any language indicating that a quantitative-easing program could be expanded.[Read More…]

fake richard mille
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