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Daily Business News Brief | Thursday, April  7th, 2022.


SIM-NIN: Deactivated subscribers want three-month extension, enrolment centres congested – Thisday

A large number of telecommunication subscribers trying to link their National Identification Number and Subscriber Identity Module together were left frustrated on Wednesday as heavy traffic on telecom networks slowed down the process.  This is coming after the Federal Government through telecom companies barred Nigerians who had not linked their SIMs and NINs together from making calls……………..read more

SIM-NIN: Deactivated subscribers storm telecom outlets, queues mount – Punch

Some telecommunication subscribers were left stranded on Tuesday after telecom companies barred their lines from making calls following a directive from the Federal Government.  The Federal Government had on Monday directed telecom companies to enforce compliance with its National Identification Number-Subscriber Identity Module policy by blocking outgoing calls on all unlinked lines after the deadline for the SIM-NIN verification expired on March 31…………….. read more

CBN fines three banks N800m over crypto transactions – Thisday

The Central Bank of Nigeria has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies.  According to a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc.  The report noted that the penalties were part of efforts by the apex bank to ensure that banks implement an order to block trading in cryptocurrencies due to the threat they pose to Nigeria’s financial system…………………read more

NNPC pays $3.68bn, owes Total, Agip, Shell $1.01bn cash call debts -Vanguard

The Nigerian National Petroleum Company Limited has so far paid a total of $3.68bn out of the $4.689bn cash call debt to five international oil companies that are its joint venture partners. The latest data obtained from the oil firm on Wednesday on the cash call arrears repayment showed that while the NNPC had completed the repayments to Mobil Producing Nigeria and Chevron Nigeria Limited, it was still owing three other IOCs.  The three IOCs include Shell Petroleum Development Company, Total Exploration and Production Nigeria, and Nigeria Agip Oil Company………………….read more

CIS launches Academy to train Capital Market Operators, Others – Daily Independent

The Chartered Institute of Stockbrokers (CIS) has launched an Academy to deliver high standard structured professional and post-graduate training for capital market operators, investors and the general public.  Speaking at the inauguration ceremony, the Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami explained that the establishment of the CIS Academy was coming at a time Nigeria economy is facing challenges, and required the right financial and fiscal policy interventions.  ……………………read more

Transcorp Hotels Announces N717m Dividend Payout to Shareholders– Thisday

Transcorp Hotels Plc paid a total dividend of N717 million to its shareholders at its 8th Annual General Meeting held in Abuja recently.   The Chairman of the Board of Directors, Mr. Emmanuel Nnorom stated that the Company closed the 2021 financial year strongly, with an impressive gross revenue of N22billion, surpassing its 2019’s pre-COVID revenue of N20billion………………………read more

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