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Daily Business News Brief
August 10th, 2022

10
Aug

H1 2022: Dangote Cement, MTN Lead Others in N330.9bn Tax to Revenue Agencies – Thisday
Amid severe macro economic challenges, a total of 18 companies operating in Nigeria and other African countries remitted N330.9 billion to revenue agencies in the first half (H1) of 2022, an increase of 35 per cent from N245.18 billion reported in the first half of 2021.  By law, companies operating in Nigeria remits Corporate Income Tax (CIT), Education tax, National Information Technology Development Agency tax (NITDA), and Nigeria Police Trust Fund levy………Read More

Nigeria, three others top World Bank debtors’ list – Thisday
Rising debt has pushed Nigeria up the World Bank’s top 10 International Development Association borrowers’ list.  The World Bank Fiscal Year 2021 audited financial statements, known as the IDA financial statement, showed that Nigeria was rated fifth on the list with $11.7bn IDA debt stock as of June 30, 2021.  However, the newly released World Bank Fiscal Year 2022 audited financial statements for IDA showed that Nigeria has moved to the fourth position on the list, with $13bn IDA debt stock as of June 30, 2022……...Read More

Banks Shun Lending to Real Sector as Deposit With CBN Surge by 12% – Thisday
Despite the 65 per cent Loan-to-Deposit (LDR) ratio policy of the Central Bank of Nigeria (CBN) which was aimed at forcing the hands of financial institutions to lend to the real sector of the economy, banks’ deposits with the CBN has continued to witness exponential growth hitting 12 per cent Year-on-Year (YoY) as at end July this year………..Read More

CBN to Fund Focal Commodities to Strengthen Naira – Punch
The Central Bank of Nigeria (CBN), has assured of its commitment to continue to fund 12 focal commodities that include cassava  through its Commodity Development Initiative (CDI).   The Director, Development and Finance Department, CBN, Mr Yusuf Yila, gave the commitment during the inauguration of the first cassava-based Sorbitol factory in Africa, Psaltry International Company Ltd, located at Ado-Awaye in Oke-Ogun area of Oyo State. …….Read More
As CPs, Bonds Listing on FMDQ, NGX Soar – Daily Independent
Following uncertainty surrounding access to fresh capital for expansion, companies have found solace in the Nigerian debt capital market. Kayode Tokede examines how Nigerian Exchange Limited (NGX) and FMDQ Exchange have facilitated growth and development in the Nigerian debt capital market and economy at large.  Aside from creating wealth and facilitating liquidity flow, Exchanges across the globe also play a vital role when companies seek to raise capital either through debt or equity financing…..…..Read More

Diesel hike: NRC reduces Lagos-Ibadan trips by 67% – Punch
The hike in diesel price has forced the Nigeria Railway Corporation to reduce the number of trips on the Lagos-Ibadan Train Service by about 66.67 per cent, it was gathered on Tuesday.  It was also learnt that the corporation had sent recommendations to the Federal Ministry of Transportation for an adjustment in the transport fare on the train service.  The Managing Director, NRC, Fidet Okhiria, told our correspondent that though the service was still running, its trips had been reduced due to the persistent hike in diesel price….…..Read More

Capital Hotels Crosses N10bn in Market Cap over Private Placement Listing – Punch
Capital Hotels Plc has crossed N10billion in market capitalisation on the Nigerian Exchange Limited (NGX) over its recently concluded 1,611,995,510 ordinary shares of 50 Kobo each per share offered through Private Placement to 22 Hospitality Limited. The notification by the NGX during the weekend noted that the company with additional 1,611,995,510 listing ordinary shares, bring its total issued and fully paid up shares increase from 1,548,780,000 to 3,160,775,510 ordinary shares of 50 kobo each…..…..Read More
fake richard mille
There are not many functions of richard mille replica, except for the basic time display, there is only a very powerful tourbillon function. Its time display function has only two hands, hour and minute hands. Although it cannot display the time accurately to the second, it has a good effect on the overall style of the watch. The diameter of the tourbillon is 10.90 mm, and its position is just in the mouth of the skull. It can be said that the position is very classic. When the watch is working, the tourbillon is spinning fast in the skull's mouth, faintly visible through the gaps of the cage-shaped teeth made of rose gold, giving people not only a mechanical beauty but also an indescribable feeling. It can be said that it is a kind of awe of death, or it is a shock of immortal imagery. In short, let go of your thinking, on this fast-moving tourbillon, your thoughts have no end. This watch also uses a back-through design. The movement of the movement and the operation of the tourbillon can also be seen through the back of the watch. This watch is also known as a fine product in terms of machinery.
The latest and best quality materials in today's watch field are used in conjunction with precious metals to make it surrounded by a luxurious and noble aura when it is born. The detailed processing of each screw and each plane is a manifestation of its high quality. It perfectly combines the unconventional skull design with the tourbillon technology that Richard Mille is famous for. It gives people visual enjoyment and brings us thinking about the ultimate problem of life, which is evocative. endless. Coupled with a movement that has applied many advanced technologies to show the beauty of machinery in front of people, its performance is beyond doubt!