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BPE to open IPOs for Eleme, SAHCOL, others Within the next two months, the Bureau of Public Enterprises (BPE), plans to make public share offerings for some of the privatised state-owned enterprises. Guardian Polaris committed to improved service, customers, says CEO Polaris Bank Limited Group Managing Director/Chief Executive Officer, Tokunbo Abiru, has pledged the commitment of the new bank to deliver on its mandate to all stakeholders, even as he expressed appreciation to customers for their patronage, support and loyalty. Guardian Government committed to industrial policy implementation The Federal Government has expressed commitment to the industrial policy in a bid to improve local production and enhance competitiveness. Guardian KiaKiaFx, Turtlewax BDC partner to deepen foreign exchange market KiaKiaFX and TurtleWax Bureau de Change (BDC) have partnered to deepen the foreign exchange (forex) market and services, through robust technology and customer fri

Settlement on $300m FTZ facility subject to our terms, says LADOL Lagos Deep Offshore Logistics (LADOL) Group is willing to settle with Samsung Heavy Industries (SHI) over ownership of the $300 million integration and fabrication yard at the Guardian Stock exchange’s premium index gets 49 per cent returns in three years After three years of establishment, the seven listed companies constituting the Nigerian Stock Exchange (NSE) Premium Board Index raised activities on the platform with a 48.53 per cent gain. Guardian Why MPC will sustain hold on rates this week While every one would want interest rate cut at the end of meetings by the policy making arm of the Central Bank of Nigeria (CBN), it would be hope deferred again for the 13th time, because of expected domestic and foreign backlash. Guardian Non-oil sector not competitive to drive nation’s economy, say stakeholders Despite Federal Government’s efforts at leveraging a vibrant non-oil sector to boost nation

NDIC seeks collaboration, strong ethical banking standards The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has stressed the need for effective collaboration between. Guardian Investors chide judiciary for delaying market cases   Dissatisfied by the delay in adjudicating capital market-related cases, investors have stressed the need for the judiciary to give priority to such cases, and stop granting unnecessary orders to perpetrators of fraudulent activities. Guardian Telecoms operators need $450b for 1.5 billion offline users The United Nations (UN) has estimated that to connect the next 1.5 billion that are yet to come online across the globe, telecoms operators would need over $450 billion. Guardian NCC rallies telecoms consumers to quality service delivery Nigerian telecoms regulatory agency, the Nigeria Communication Commission (NCC), has pledged to empower telecoms’ consumers with adequate infor

CBN, government, financial institutions promise to tackle MSMEs’ challenges The Federal Government, Central Bank of Nigeria (CBN) and other financial institutions in the country yesterday in Abuja said challenges confronting Micro, Small and Medium Guardian Stock market’s indices dip further by 0.5% Equity transactions sustained sliding profile for the fifth consecutive trading sessions, occasioned by heavy profit taking, causing the All-Share Index (ASI) to plummet further by 0.5 per cent. Guardian ‘Why Nigerians must insist on transparent oil licensing process A report conducted by the Natural Resource Governance Institute (NRGI) in 2017, has noted that the weakest link in the nation’s oil and gas industry, especially in terms of value addition, is in the area of licensing. Guardian FIRS freezes 6,772 accounts, generates N3.5 trillion The Federal Inland Revenue Service (FIRS) has said it generated N3.5 trillion for Federal Government between the months of Janu

BoI, CEXIM seal $500m pact for refineries, gas recovery The Bank of Industry (BoI), and the Export-Import Bank of China (CEXIM), have signed a Memorandum of Understanding (MoU), to provide a credit line of up to $500 million Guardian FrieslandCampina to stake €23m in local milk production Royal FrieslandCampina has announced plans to invest €23 million in local milk production, as part of its Dairy Development Programme (DDP) in Nigeria, the company’s Global Chief Executive Officer, Hein Schumacher, has said. Guardian Regulators withhold data on kerosene importation as scarcity worsens Industry regulators, the Department of Petroleum Resources (DPR), and Petroleum Products Pricing Regulatory Agency (PPPRA), have declined to produce importation data for kerosene as scarcity hits the market with price differentiation Guardian Market indices plunge further by N155billion The reign of the bears persisted yesterday, following sell pressure by investors on the Nigerian

How Nigeria remains exposed to shocks Besides the shallow trend of Nigeria’s economic diversification, the trade war between the United States (U.S.) and China is increasing its susceptibility. Guardian ‘Step up policy implementation to forestall another recession’ Market operators have stressed the need for the Federal Government to step up the implementation of various policies and reforms needed to boost economic growth and ultimately avert another round of recession in the country. Guardian Business in Politics: A historically recommended mix How should we define the role of policymakers in improving the efficiency of the economy’s primary participants? Here are lessons form the first time business had a definitive say in politics. Guardian Banks, the challenges and real sector interventions After the global financial crisis in 2008, central banks across the globe re-invented their policy basket, which saw the emergence of a renewed vigour in unconventional

FG pensioners yet to receive 33.3% pension arrears Retirees across the country have confirmed that they are yet to receive complete payment of the 33.3 per cent pension arrears, meant for Federal Government pensioners under the Defined Benefit Scheme (DBS), by the Pension Transitional Arrangements Directorate (PTAD). Guardian Why investors own 100% of mining projects, by Bwari Minister of State for Mines and Steel Development, Abubakar Bawa Bwari, has said that investors now own 100 per cent of mining projects in the country, as stipulated in the Minerals and Mining Act 2007. Guardian AfDB, NEXIM, BoI support Lagos SMEs’ gathering The African Development Bank (AfDB), Nigerian Export-Import Bank (NEXIM) and Bank of Industry (BoI) are identifying with a convention of small and medium-size enterprises (SMEs) holding in Lagos. Guardian Oil demand to hit 100 mbpd sooner than projected, says Barkindo The Secretary-General, Organisation of the Petroleum Exporting Co

Over 300 pensioners sent home at PTAD’s stakeholders’ forum Over 300 pensioners, who came for the second Interactive Stakeholders Forum, organised by the Pension Transition Arrangement Directorate (PTAD), for federal pensioners. Guardian Forex irregularities scare marketers off kerosene importation Oil marketers in Nigeria are still reluctant to resume the importation of Dual Purpose Kerosene (DPK), after abandoning the venture for over two years on the grounds of unprofitability. Guardian Security experts warn FG on rising online breaches Cyber Security experts have called on the Federal Government not to treat the rising cyber security breaches in the country with levity. Guardian On the MTN dividend payments saga In case you have been out of the loop recently, you may have missed out on the saga involving the Central Bank of Nigeria (CBN), MTN, and a couple of banks. According to the CBN, MTN in collusion with banks “illegally” repatriated dividends worth just

NCAA gets N14.3b from ticket sales The Nigerian Civil Aviation Authority (NCAA) yesterday said N14.339 billion was generated from the mandatory Ticket Sales Charges (TSC) between January and August this year. Guardian TETFund keeps mum amid allegations of corruption Amid allegations of abuse of office and corruption against its Executive Secretary, Dr. Abdullahi Baffa, the Tertiary Education Trust Fund (TETFund) has kept sealed lips over the disturbing development. Guardian FMDQ weekly report Commentary on the foreign exchange (FX) market with data for the week-ended August 31, 2018. Guardian CWG, Global Spectrum, PPPN fail NSE’s listing requirement CWG Plc, Global Spectrum Energy Services Plc and Portland Paints & Product Nigeria (PPPN) Plc have less-than-required minimum volume of shares for public trading in the stock market, a major infraction that may adversely affect liquidity and efficient price discovery on the companies. The Nation ‘Funding, non-im

The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares