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BUSINESS NEWS BRIEF – SEPTEMBER 14, 2015

14
Sep

 

PUNCH

Inflation rises to 9.3% –NBS
The nation’s Consumer Price Index which measures inflation rose again in August to 9.3 per cent, an increase of 0.1 per cent over the July figure, and staying above the Central Bank of Nigeria’s target upper limit, the National Bureau of Statistics said in its monthly report on Sunday.[Read More…]

FG to raise bonds at lower yields
Yields on Federal Government bonds are expected to be stable at the next debt auction on September 16 after the Central Bank of Nigeria declined to sell short-dated Treasury bills to banks asking for higher returns in the last two weeks, Reuters has reported.[Read More…]

Interbank lending rate down as liquidity rises
The nation’s interbank lending rates fell 75 basis points to an average of 6.50 per cent on Friday from 8.25 per cent the previous week, as cash built up in the banking system, Reuters reported.[Read More…]

Cowry Asset completes N3bn Zamfara bond underwriting
Cowry Asset Management Limited says it has fully paid N3bn in fulfillment of its underwriting commitment under the N7bn Zamfara State Government Bond.[Read More…]

Bank customers’ BVN enrolment hits 20 million –NIBSS
Over 20 million customers have been enrolled by Deposit Money Banks in the ongoing Bank Verification Number exercise, the Nigeria Inter Bank Settlement System Plc has said.[Read More…]

Bad fuel: NCAA begins registration of oil marketers
The Nigerian Civil Aviation Authority says it is set to commence the official registration of all aviation fuel marketers in the country.[Read More…]

THISDAY

Companies Income Tax Lifts FIRS Collections to N1.19trn in Q2
The Federal Inland Revenue Service (FIRS) collected a massive N1.19 trillion in the second quarter of this year compared with N757 billion in the first quarter of the year, boosted by massive contribution from deposit money banks (DMB).[Read More…]

Pension Fund Administrators Pay Retirees N3.4bn Monthly
Pension Fund Administrators in Nigeria (PFAs) pay a total of N3.4 billion to retirees monthly under the programme withdrawal system of Retirement Benefit payment while insurers pay a total of N917 million under the Annuity system, National Pension Commssion (PenCom) said in a statement made available to THISDAY.[Read More…]

NNPC to Invite Firms to Tender for Crude Delivery Contract
A few weeks after the Nigerian National Petroleum Corporation (NNPC) cancelled the crude oil delivery contract for its refineries with Ocean Marine Transport (OMT) citing exorbitant costs and inappropriate process of engagement, it intends to retender the contract which will now be awarded on a stop-and-go basis.[Read More…]

Recapitalisation: 47 Market Operators Apply for Reclassification, Merger
With 17 days left for capital market operators to comply with the new minimum capital base set by the Securities and Exchange Commission (SEC) in 2013, 47 operators have applied to either merge or reclassify their businesses, THISDAY checks have revealed.[Read More…]

LEADERSHIP

TSA Enforcement Begins Tomorrow
After 48 years of non-compliance, all ministries, departments and agencies (MDAs) of government shall in the next 24 hours commence implementation of the Treasury Single Account (TSA), in line with the directive of the federal government.[Read More…]

Customs Delay BVN Registration In China, India
With only few weeks to the October 31 deadline, Nigerian bank customers living in India and China may have difficulty registering for their Bank Verification Number (BVN) as customs officials delay commencement of the registration process.[Read More…]

FAAN Loses N40m To Closure Of Benin Airport – Official
The Federal Airports Authority of Nigeria (FAAN) said on Sunday that it lost N40 million due to the closure of the Benin Airport for two months.[Read More…]

DAILY INDEPENDENT

CBN Recertifies 2,765 BDCs To Date
The Central Bank of Nigeria (CBN) has again recertified 77 more Bureaux De Change (BDCs) operators to continue in operation. This brings the total number of BDCs that have so far met the new capital requirement of N35 million to 2, 765 as at September 11.[Read More…]

THE GUARDIAN

BoI secures CBN licence, restructures operations
The Bank of Industry (BoI) has secured Central Bank of Nigeria’s (CBN) licence, having met the requirements set by the apex bank for all existing Development Finance Institutions (DFIs).[Read More…]

THE NATION

Greece, Nexim Bank partner on non-oil export
The Greek Ambassador to Nigeria, Mr AlekosIkonomopoulos, has indicated interest to partner with Nexim Bank in his country’s quest to develop the nation’s non-oil exports.[Read More…]

REUTERS

Stocks shrug off China data, Fed weighs on markets
Stocks rose on Monday, shrugging off tepid Chinese economic data while the dollar weakened before a U.S. Federal Reserve decision on whether to raise interest rates for the first time since 2006 later this week.[Read More…]

BLOOMBERG

China’s Stocks Decline Most in Three Weeks on Slowdown Concerns
China’s stocks slumped the most in three weeks as data over the weekend added to concern the economic slowdown is deepening and traders gauged the level of state support for equities.[Read More…]

 

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