Business

Indications emerged at the weekend that the Federal Government has finally succumbed to stakeholders’ pressure by removing Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG) popularly called cooking gas. With this development, consumers should expect a crash in the price of cooking gas by about 20 percent. Currently, a 12.5kg bottle of gas sells for N4,300 and is expected …

Read More »

The nation’s foreign commercial loans have risen to $8.8bn, an analysis of data obtained from the Debt Management Office has shown. A further analysis of the debt statistics shows that the commercial debts make up 39.87 per cent of the nation’s $22.07bn external exposure. Three years ago, March 31, 2015, the country’s exposure to foreign commercial loans stood at $1.5bn. …

Read More »

The Federal Mortgage Bank of Nigeria (FMBN) is to commence the implementation of a Rent-To-Own Housing Scheme. This follows the approval of the plan that will provide affordable houses for Nigeria workers, by the board of the organization. The FMBN Rent-to-Own scheme is an innovative, affordable housing product, which provides an easy and convenient payment plan towards home ownership for …

Read More »

For the 2018 half year, the Nigerian Aviation Handling Company of (NAHCO) Plc recorded a turnover of N4.64billion, representing  25 per cent increase when compared to the same period in previous year.  The ground handling company has also within the period attracted more clients to its fold, thereby retaining its status as a  leader in the sub-sector.  A statement by Mr. Tayo …

Read More »

Ag. Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk has enjoined investors in the capital market that bought shares with different names to regularise their accounts in order to get the benefit of their investments. This is even as the Capital Market Committee (CMC) has extended the forbearance period to December 31, 2018to enable investors regularise …

Read More »

Relief is on the way for the estimated over 7 million passengers plying Lagos roads on a daily basis, as Heritage Investment Services Limited (HIS), has signed a memorandum of understanding (MoU) with Tuchi Technologies Nigeria Limited to provide affordable mass transit for commuters in Lagos metropolis, which Heritage Bank Plc is the banker to the project. Besides HIS and …

Read More »

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has said that MTN must list on Nigerian Stock Exchange on or before May 2019 as contained in the agreement over the 2015 fine settlement between it and the telecom company. Speaking in an interactive session with newsmen in his office in Abuja recently, Danbatta also …

Read More »

The total pension assets under the Contributory Pension Scheme (CPS) have risen from N7.52 trillion as of December 2017, to N8.23 trillion in June 2018. The Acting Director General of National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, who disclosed this at the third annual conference of the National Association of Insurance and Pension Correspondents (NAIPCO) held in Lagos yesterday, attributed …

Read More »

Guaranty Trust Bank Plc Wednesday August 8, 2018 released its audited financial results for the half year ended June 30, 2018, showing positive performance across all financial indices. The board of directors of the bank also recommended an interim dividend of N8.8 billion, which translates to 30 kobo per share. GTBank posted gross earnings of N226.6 billion, showing an increase …

Read More »

…To Constitute Fintech Committee The Securities and Exchange Commission (SEC), has again reiterated that the December 31st 2018, as final day given to shareholders to regularize multiple names on their investment in the equities market remains sacrosanct. This is even as it said that, in view of the impact of technology in the financial market, the commission would constitute a …

Read More »