PUNCH
CBN at loggerheads with FRC over Stanbic IBTC
The Central Bank of Nigeria on Tuesday faulted the regulatory decisions taken by the Financial Reporting Council of Nigeria against Stanbic IBTC Holdings Plc.[Read More…]
Exchange probes Oando after record loss
The Nigerian Stock Exchange has invited Oando Plc’s audit committee and its external auditors as part of the review of the delayed filing of the audited financial statements of the firm for the year ended December 31, 2014 as well as its results for the first and second quarters of 2015.[Read More…]
THISDAY
N1.04tn Fine: MTN Apologises, Seeks Leniency
Following the N1.04 trillion fine imposed on MTN Nigeria by the telecoms industry regulator, the Nigerian Communications Commission (NCC), for violating its directive on SIM card deactivation, it appears the telecoms company is already seeking pardon.[Read More…]
FG, World Bank Launch Initiative to Boost MSMEs
The federal government, in partnership with the World Bank on Tuesday launched the Growth and Employment (GEM) Equity Window, a grant scheme to support micro, small and medium scale enterprises (MSMEs) in the country.[Read More…]
DAILY SUN
NNPC cancels 44 oil-swap deals
IN a bid to entrench transparency in the oil sector, the Nigerian National Petroleum Corporation (NNPC yesterday, scrapped the highly controversial offshore processing arrangement (OPA) in favour of direct sale-direct purchase (DSDP).[Read More…]
VANGUARD
$1bn set top box manufacturing plant coming soon in Nigeria
COMMITTED to fast track digital switchover and bridge the digital divide in the country, Media Concepts International, MCI, a Set Top Box, STB, manufacturer licenced by the National Broadcasting Commission, NBC. in partnership with South Korea, KAON will commence building of a massive N197 billion ($1bn) manufacturing plant in Abule Egba, Lagos State[Read More…]
LEADERSHIP
Over $89bn Needed To Build Ibom Deep Sea Port
Over $80 billion spread over a ten year period will be needed to build the proposed Ibom deep sea port at Ibaka in Mbo local council of Akwa Ibom.[Read More…]
THE NATION
CBN: Oil, gas sector owes 23.8% of N13.5tr bank loans
Oil and gas owes 23.8 per cent of the N13.5 trillion loans given by banks to key sectors of the economy, the Central Bank of Nigeria (CBN) has said.[Read More…]
REUTERS
Asia surges with Japan, China stocks in lead; risk appetite lifts dollar
Asian shares surged on Wednesday following gains on Wall Street, with Japanese and Chinese stocks leading the way, while investors’ stronger appetite for riskier assets pushed up U.S. debt yields.[Read More…]
WRAPUP-Despite gloom, four U.S. shale oil firms lift output views
Nov 4 A handful of U.S. shale oil producers are pushing up their production forecasts, saying efficiency gains from drilling in prime rock are helping them eke out more crude in the middle of the worst price crash in six years.[Read More…]