Morning Beats

CBN bars banks with huge bad loans from paying dividends

The Central Bank of Nigeria has stopped the payment of dividends to shareholders by Deposit Money Banks and discount houses with huge bad loans and low capital base.Punch

Reps demand N800bn supplementary budget for fuel marketers

The House of Representatives is unhappy over the lingering scarcity of petrol in the country and has asked the Executive to submit a N800bn supplementary budget to the National Assembly to offset the debts allegedly owed fuel marketers.Punch

FG, states fail to fund workers’ retirement accounts

Many workers who are retiring under the Contributory Pension Scheme are either unable to get their pensions or earning ridiculously low stipends because the government has been inconsistent with the remittance of its deductions into their Retirement Savings Accounts,Punch

Stakeholders optimistic about real estate growth

Despite the poor performance of the real estate industry and the lull in the property market in recent times, stakeholders have expressed optimism of a full recovery this year.Punch

NIPPs: FG, states, LGs miss out on $2.7bn profit

Fluctuations in the exchange rate of the naira to the United States dollar, vandalism of gas pipelines and violence in parts of the country are preventing the sale of 10 electricity generation plants under the National Integrated Power Projects.Punch

Firm commences recycling of e-waste in Lagos

Hinckley Recycling says it has commenced recycling operations for the safe and responsible processing of all electronic waste streams at the first government approved e-waste recycling facility located in Ojota, Lagos.Punch

Trapped funds: Union Homes’ depositors petition Reps

Depositors of the defunct Union Homes Savings and Loans have petitioned the House of Representatives seeking help for the refund of their trapped funds in the mortgage bank.Punch

Dana signs interline, aircraft agreement with Asky Airlines

Dana Air and Lome, Togo-based Asky Airlines, have signed an interline agreement, which is a commercial pact between two carriers in which one airline can sell the other’s segments, and each will maintain its own code, allowing customers to easily identify the operating airline.Punch

NAICOM bars insurers from sending representatives to CEO events

The Commissioner for Insurance, Alhaji Mohammed Kari, has warned underwriting firms against sending representatives to attend meetings organised by the National Insurance Commission for chief executive officers.Punch

64% of vehicles on Nigerian roads run on fake insurance — NIA

ONLY about 36 percent of vehicles plying Nigerian roads are currently insured as records indicate that most of the vehicles run on fake insurance certificates.Vanguard

Axa Mansard empowers youths on financial security
AXA Mansard Insurance, member of the AXA Group, has taken its social investment programme to educating members of the National Youth Service Corps, NYSC, on different solutions available for their financial security, health and general well-being.Vanguard

We would put more pressure on govt over N220bn MSMED fund – MD, BBB MfB
What are your expectations for the microfinance sub sector in 2018?

NB beats Forte Oil, others to early release of 2017 financials
DESPITE its huge operations, Nigerian Breweries, NB Plc has beaten all quoted companies by coming out first with the full year ended December 31, 2017 financial statement.Vanguard

Eurobond: Nigeria external reserves to hit 54 months high of $45bn
NIGERIA’s external reserves will  rise to 54 months high of $45 billion this month following the conclusion of federal government’s $2.5 billion Eurobond this week. The Eurobond, which commenced last week with the announcement of its pricing on Thursday, will be concluded on Friday.Vanguard

Industrial goods sector to benefit from increased CAPEX

AGAINST the bear run that ruled the stock market last week and saw all the sectors close in the red, investment bankers and stockbrokers have said that the industrial goods sector will benefit immensely from the proposed N2.4 trillion capital expenditure in the 2018 budget.Vanguard

Why we ‘re focusing on external borrowing — Oniha, DMO boss
Some financial analysts have expressed concerns that Nigeria’s foreign debt is moving towards the pre-2005 level and that we may fall into the problem of foreign debt trap again. What is your reaction?Vanguard

Anxiety over new NSE trading rules

The new pricing rule introduced by the Nigerian Stock Exchange (NSE) has continued to elicit mixed reactions from stakeholders in the capital market, many of who have expressed fears about the likely outcome of the regulatory move.The Nation

KenGen signs fresh deal to upgrade Masinga dam wall

Power producer KenGen  is moving to raise the Masinga hydroelectric dam’s wall and install equipment that will pump downstream water back to the dam to ensure a steady supply of the cheap power it produces throughout the year.Business Day Kenya

Investor gets Sh27m for Safaricom IPO refunds delay

A stockbroker, who delayed crediting Safaricom  IPO shares into an investor’s CDS account, has been dealt a major blow after the court ordered him to pay the client Sh27 million in compensation.Business Day Kenya

Fish exports earn more than imports

Kenya earned much more from fish exports in the last three years than it paid for imports despite rising volumes shipped in and an outcry over foreign sea food flooding the local market.Business Day Kenya