Morning Beats

Nigerians are getting poorer, says IMF

nigeria’s people are getting poorer despite the country’s slow recovery from recession and economic reforms are urgently needed, the International Monetary Fund has said.Punch

SEC’s free e-dividend registration ends

The free e-Dividend registration exercise for shareholders of publicly-quoted companies in Nigeria has finally ended.Punch

FG to open first section of Apapa-Wharf road

The Director of Highways, South-West, Federal Ministry of Power, Works and Housing, Mr. Emmanuel Adeoye, has said the first section of the Apapa-Wharf Road will be opened to the public by the middle of this month.Punch

$2bn needed to revive Lagos-Kano rail line – Osinbajo

vice-President Yemi Osinbajo on Wednesday said Nigeria would need $2bn (N610bn) to revive the Lagos-Kano rail line as part of efforts to boost local and international trade along the northern and southern zones.Punch

Again, CBN warns against investment in Bitcoin, others

The Central Bank of Nigeria on Wednesday cautioned Nigerians to be wary of investments in cryptocurrencies, stating that virtual currencies were not legal tender in the country.Punch

TUC kicks against NNPC as sole provider of fuel

The National Executive Council of the Trade Union Congress of Nigeria has said that the current situation in which the Nigerian National Petroleum Corporation is the sole provider of fuel to the nation and absorbing subsidies is not healthy for the country.Punch

MTN eyes $5.2bn NSE listing in July

MTN Group plans to list its Nigerian unit worth $5.23bn by July in a debut Initial Public Offer on the Nigeria Stock Exchange and will raise fresh funds to reduce debt, according to pre-IPO presentation seen by Reuters.Punch

We’ll use infrastructure bonds to finance road projects – FG

The Federal Government on Wednesday announced that it would utilise infrastructure bond instruments from financial institutions and investors to finance the development of roads and bridges across the country.Punch

SME bank sought for micro-business financing

The case has been made for the establishment of a Small and Medium Enterprise (SME) bank to facilitate long-term financing of micro-businesses in Nigeria.Vanguard

FG appoints 3 pre-shipment agencies for non-oil export

IN a bid to curb the corruption that has characterized the inspection of export trade in Nigeria, the Federal Government through the Central Bank of Nigeria, CBN, has appointed three Pre-Shipment Inspection Agencies (PIAs) for non-oil export with a view to further enhance the nation’s export Vanguard

CCNN, Dangote Cement drive NSE capitalistion by N37bn

Gains recorded in two cement manufacturing interests namely, Dangote Cement Plc and Cement Company of Northern Nigeria, CCNN, today drove the Nigerian Stock Exchange, NSE, market capitalisation to a positive close after five days of negative activity.Vanguard

SEC to extend deadline for e-dividend

Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) may today announce the extension of the deadline for the registration for the electronic dividend (e-dividend) payment system, providing opportunity for a large number of shareholders to register.The Nation

Nigeria gas reserves up by 4.067tcf, says NNRC

Nigeria‘s natural gas re-serves have risen by 4.067 trillion cubic feet (tcf) from 187.998tcf in 2014 to 192.065tcf in 2015, the Nigerian Natural Resource Chapter (NNRC) has said.The Nation

Africa Prudential, United Capital declare N2.9b dividend

Shareholders of Africa Prudential (APR) Plc and United Capital Plc will receive N2.9 billion as total dividend payout for the immediate past business year.The Nation

CBN appoints inspection agents for non-oil exports

The Central Bank of Nigeria (CBN) yesterday announced the appointment of Pre-shipment Inspection Agents (PIAs).The Nation

Shrinking oil demand: SPE calls for investment in renewables

As global demand for fossil fuels begins to dwindle, Nigeria needs to increase its investments in renewable energy, the Society of Petroleum Engineers (SPE), Nigeria Council, has advised.The Nation

Barclays Africa to become Absa, again

Barclays Africa Group intends to change its name back to Absa, the banking group announced on Thursday morning after releasing its results for the year to end-December.Business Day

Steinhoff: mess began in central Europe

Steinhoff chairwoman Heather Sonn said it appeared that the group’s "accounting irregularities" related largely to its central European business.Business Day

Zamara set to build twin tower in Nairobi

Retirement funds manager Zamara intends to build a twin tower property with a total 46 floors in Nairobi’s Westlands area.Business Day

New projects to deny KenGen investors dividend

KenGen  investors are unlikely to enjoy a dividend in the next three years as the power generator moves forward with costly plans to increase generation, analysts say.Business Day

Coffee prices at Nairobi auction drop by nine per cent

Coffee prices at the weekly Nairobi auction have dropped by nine per cent, marking the first decline since the beginning of the year after a series of higher prices.Business Day

Eurobond set to ease interest rate on domestic borrowing

The yield or interest rate on domestic debt is likely to come down in the next few weeks on reduced government demand for cash as a result of the successful issuance of the sovereign bond, analysts have said.Business Day