Morning Beats

LCCI faults Customs indiscriminate invoice valuation queries

The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern over indiscriminate valuation queries of the invoice of imported items by the Nigeria Customs Service (NCS).The Nation

Exporters hail govt on exportation from Ikorodu terminal

The Federal Government has been given the tumbs up for exporting agricultural produce through the Ikorodu Lighter Terminal. Over 30 export laden containers were moved by barges from the terminal to Lagos sea port as part of measures to decongest the ports and boost the economy.The Nation

Terminal operators get two weeks to clear N40b debts

Terminal operators indebted to the Nigerian Ports Authority (NPA) have two weeks  to pay up or be sanctioned.The Nation

Operators fault Sirika on N516b debts

Are airlines owing aviation agencies and some companies  N516 billion on fees,levies and navigational charges? This is the nut to be cracked as operators refuted the claim of Minister of State, Aviation,The Nation

‘MDAs’ IT security projects largely compromised’

The Management of the National Information Technology Development Agency (NITDA) has lamented that 95 per cent of the information technology (IT) security projects in Federal Government ministries, departments and agencies (MDAs) are compromised.The Nation

Telcos plan to ride on digital advertising

Mobile phone companies are expected to maintain their advertising budgets at between three and four per cent of revenue in the next fiscal year. despite margin pressure as the need to deliver product messaging has become critical amid brutal price competition, The Nation

Equities open withN140b loss as selloff continues

Nigerian equities lost N140 billion in five hours of trading yesterday at the Nigerian Stock Exchange (NSE), extending the downtrend to its sixth consecutive trading session. The Nation

CBN stops charges on BTA, PTA, school fees, medicals

The Central Bank of Nigeria (CBN) yesterday abolished all charges on the sale of foreign exchange for invisible transactions such as Business Travel Allowance (BTA), Personal Travel Allowance (PTA),The Nation

N500b National Venture Capital Fund coming for entrepreneurs

Former Central Bank of Nigeria (CBN) Deputy Governor, Kingsley Moghalu, has called for the creation of N500 billion Venture Capital Fund to support entrepreneurship and boost the economy.The Nation

NSE approves delisting of Seven-Up after takeover bid

The Nigerian bourse has approved the voluntary delisting of Seven-Up Bottling Co after it received a takeover bid from its majority shareholder aimed at restructuring the soft drinks bottler. The Nation

Nigeria’s oil, gas sales rose to N1.22trn in 2017

Nigeria crude and oil gas sales rose sharply to N1.22 trillion in 2017, according to data obtained from the Central Bank of Nigeria, CBN.Vanguard

How insecurity dissuades American investments in Nigeria — US Consul General
The Consul General, United States of America, USA, embassy in Nigeria, Mr John F. Bray, has identified security challenge as one of the foremost issues that dissuade the influx of American investments to Nigeria.Vanguard

Nigeria’s leasing industry grows to N1.3trn
The volume of leasing business in Nigeria crossed a trillion Naira mark.Vanguard

Gas supply, others deny Nigeria’s power sector N40.55bn revenue in one month
DESPITE over 192 trillion standard cubic feet of gas reserves yet to be tapped, power plants in the country still lack adequate gas to run turbines, giving rise to N40.548 billion revenue losses by the sector in one month.Vanguard

NIRSAL moves to address N2.7tn post-harvest losses

The Nigeria Incentive-based Risk Sharing System for Agricultural Lending has signed a Memorandum of Understanding with Riela Projects GNA Limited to boost commercial agriculture in the country.Punch

Funders ‘force’ Christo Wiese to dump Steinhoff shares

The sale is believed to have been forced on Wiese by his funders, which include global banks.Business Day south Africa

Rand see-saws on Zuma recall reports

Besides the ‘Zexit’ drama dragging on, Tuesday is a busy day with SA’s fourth-quarter unemployment data and results from Kumba, Harmony, PanBusiness Day South Africa

Bank of Baroda confirms closure of South African branches

The instruction is said to have come from the bank’s headquarters in IndiaBusiness Day South Africa

UK regulators fret about banks’ exposure to interest-free cards

Britain’s banks are booking future credit card income long before it materialises, prompting concerns about the accounting practiceBusiness Day South Africa

Bad loans dim prospects of private sector

The outlook for the private sector credit remains downcast this year due to rising non-performing loans and banks’ preference for government debt to minimise risk.Business Daily Africa

Low demand, competition sharply cut wheat prices

Wheat flour prices have dropped significantly as stiff competition among millers and low demand from customers force the processors to review the cost.Business Daily Africa