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BUSINESS NEWS BRIEF – NOVEMBER 10, 2015

10
Nov

PUNCH

N1.04tn fine: MTN may sack Nigeria management
Indications have emerged that the MTN Group may this week call for the resignation of some management staff of its Nigerian subsidiary over the N1.04tn ($5.2bn) fine imposed on it by the industry regulator.[Read More…]

VANGUARD

CBN concerned about rising non-performing loans
The Central Bank of Nigeria, CBN, has warned of a grave financial crisis in the Nigerian banking sector in the remaining part of 2015, while it also raised an alarm of a likely increase in Non-Performing Loans, NPL, in the financial sector due to the exposure of banks to the oil and gas sector.[Read More…]

SEC urges compliance to Corporate Governance Code
The Director-General of the Securities and Exchange Commission, Mounir Gwarzo, has called for a strict compliance with Corporate Governance codes by companies operating in the country.[Read More…]

LEADERSHIP

Power: Nigeria’s N4bn Transformer Manufacturing Plant Underway
In its bid to actualise steady power supply in the nation, the Federal Government has announced plans to commence the construction of Nigeria’s N4 billion transformer manufacturing plant in Kogi State.[Read More…]

THE NATION

World Bank’s N100b erosion project cash for review
The World Bank said yesterday that it would begin a review of the $5000 million (about N100billion) Nigerian Erosion and Watershed Management Project (NEWMAP) in the country from January 5 next year.[Read More…]

GUARDIAN

NERC fines Abuja Disco N18m over electrocution of eight-year old
FOR alleged negligence leading to the electrocution of an eighth -year old child, Faithn Yakubu , the Nigerian Electricity Regulatory Commission (NERC) has fined the Abuja Electricity Distribution Company (AEDC) N18 million.[Read More…]

DAILY TRUST

CBN explains dollar glut in Bureau de Change market
The Central Bank of Nigeria has explained that because of the implementation of the Bank Verification Number (BVN) in the Bureau de Change transactions, only genuine buyers of the foreign exchange are entertained.[Read More…]

REUTERS

Asian shares slide to one-month low on Fed, global growth concerns
Asian shares slipped to one-month lows on Tuesday as the spectre of higher borrowing costs in the United States and slower global economic growth haunted riskier assets.[Read More…]

BLOOMBERG

Rand Plunge Has Investors Guessing: Will SARB Move Before Fed?
The rand’s plunge to a record against the dollar has shaken any complacency investors may have had about prospects for a South African rate increase this year.[Read More…]

How the Unshackled Ruble Has Changed Russia’s Economy Forever
Today marks the one-year anniversary of when the ruble was set free for the first time in its post-Soviet history.[Read More…]

fake richard mille
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