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BUSINESS NEWS BRIEF – SEPTEMBER 07, 2015

7
Sep

PUNCH

Tax: FG to audit registered companies
The game appears up for most tax-evading companies in the country as the Federal Government would soon commence tax-audit of all the 450,000 firms operating in the country.[Read More…]

Electricity: FG seeks N45bn to reach 8,000MW
The Federal Government needs N15bn annually to generate 8,000 megawatts of electricity in three years, the Transmission Company of Nigeria has said.[Read More…]

CIS seeks AfDB support for commodities market development
The Chartered Institute of Stockbrokers says it plans to work with the management of the African Development Bank to ensure that the commodities market is viable and agro-allied companies are listed.[Read More…]

NNPC to recover N1.9tn from JV partners
The Nigerian National Petroleum Cooperation has commenced the process of recovering over $7bn (N1.4tn) in over-deducted tax benefits from joint venture partners on major capital projects.[Read More…]

Electricity: FG seeks N45bn to reach 8,000MW
The Federal Government needs N15bn annually to generate 8,000 megawatts of electricity in three years, the Transmission Company of Nigeria has said.[Read More…]

THIS DAY

NBET Signs Pioneer PPA for $1.5bn 300MW Zuma Coal Power Project
The Nigerian Bulk Electricity Trading Plc. (NBET) which is also known as the ‘bulk electricity trader’ has finally signed its first Power Purchase Agreement (PPA) on coal-to-power with Zuma Power for the construction of a 300 megawatts (MW) coal power plant in Itobe, Kogi State.[Read More…]

VANGUARD

BVN: 19m bank customers registered so far – CBN
Over 19 million bank customers have been registered under the ongoing Bank Verification Number, BVN, exercise taking place in the banking industry, the Central Bank of Nigeria, CBN, has said.[Read More…]

THE GUARDIAN

BoI partners Grow Africa on $60m venture capital fund for SMEs
The Bank of Industry (BoI) has partnered Grow Africa Equity Partners Limited to raise a $60 million Venture Capital Fund for small businesses, as part of its innovative financing scheme and efforts to expand intervention in the industrial sector from loan disbursements.[Read More…]

LEADERSHIP

NICON Insurance Moves To Dispose Of N20bn Assets
NICON Insurance, one of the top insurance firms in Nigeria, is reportedly selling N20 billion ($100 million) worth of its assets in a move to meet the insurer’s financial obligations and convert into cash assets that are no longer useful to the company.[Read More…]

NCC Releases Framework For 70/80GHz Band Licencing
The Nigerian Communications Commission (NCC has issued a draft licencing framework for the use of 70.80GHz spectrum band it intends to licence to telecom operators to address the growing demand for data-centric, high speed and high capacity networks that consumers are demanding to meet their bandwidth needs.[Read More…]

REUTERS

Oil prices fall on global glut fears, slowing U.S. jobs growth
Oil prices fell on Monday as oversupply concerns, a firmer dollar and lackluster U.S. non-farm payrolls data weighed on global markets, but a rebound in Chinese stocks after a two-day holiday helped prop up prices.[Read More…]

Asia subdued as China stocks see-saw after trading resumes
Asian stocks were subdued on Monday, lacking clear direction as Shanghai shares see-sawed in and out of the red after the Chinese markets resumed trading following a four-day long weekend.[Read More…]

BLOOMBERG

China’s Foreign Exchange Reserves Fall in August on Yuan Support
China’s foreign exchange reserves fell by a record last month as the central bank sold dollars to support the currency after the biggest devaluation in two decades spurred bets on continued weakness.[Read More…]

Europe Stocks Rebound From Weekly Drop as Glencore Leads Miners
The selloff that wiped out two days of European equity gains is showing signs of easing.The Stoxx Europe 600 Index advanced 1.1 percent to 356.83 at 8:09 a.m. in London. European stocks tumbled on Friday, deepening a weekly loss amid mixed U.S. jobs data as concern about the strength of the global economy and an impending Federal Reserve rate increase returned to center stage.[Read More…]

 

fake richard mille
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