Morning Beats

Nigeria, others lose $3.5b to cyber crime

Nigeria, Tanzania, Ghana, Kenya and Uganda – together lost $3.5 billion to cyber crooks last year, a cyber security firm Serianu, has said.The Nation

CWG eyes New York listing

The Chief Executive Officer, CWG Plc, Mr. James Agada yesterday said the management of the firm has designed a roadmap that would eventually lead to its cross-listing in either New York, London or NASDAQ.The Nation

UBA targets higher returns as shareholders get N29.1b dividend

Directors of United Bank for Africa (UBA) Plc yesterday assured that the bank will continue to improve its performance as shareholders unanimously approved the distribution of N29.1 billion as cash dividend for the 2017 business year.The Nation

World Bank Group’s shareholders back $13b capital package

The World Bank Group’s shareholders yesterday endorsed a $13 billion paid-in capital increase and  a series of internal reforms.The Nation

Crown Flour Mill set to boost agriculture

The Managing Director, Crown Flour Mill, Anurag Shukla has expressed the readiness of the firm to partner with the Federal Government to develop agriculture in the country.The Nation

Ex-NNPC GMD seeks hike in petrol price to N171 per litre

The former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Engr. Funsho Kupolokun, yesterday advised the Federal Government to muster the courage and completely deregulate the downstream oil sector to end the era of subsidy.The Nation

NSE: Trading resumes on downward trend, down by 0.12%

The Nigerian Stock Exchange ( NSE ) market indices resumed for the week on Monday on a negative trend dropping by 0.12 per cent.The Nation

Excess crude income hits $65.4m daily

NIGERIA’s excess crude account is set to swell as the price of Bonny Light leaps towards $75 per barrel in the international market.Vanguard

Naira depreciates to N360.54/$ in I&E window

The Naira commenced the week with 12 kobo depreciation to N360.54 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market. Vanguard

TCN commissions 100MVA transformers, assures incremental power supply

THE  Transmission Company of Nigeria (TCN) yesterday commissioned 100 MVA transformers at 132/33KV Alimosho substation, in a bid to boost electricity supply to residents within Ikeja Disco.Vanguard

Nigeria tops remittances to Sub-Saharan Africa with $22bn- World Bank

The World Bank, yesterday, said that Nigerians living abroad (Diaspora) sent home $22 billion in 2017, the highest in the Sub-Saharan region, and the fifth highest in the world.Vanguard

Pending FY, Q1 results will provide support for equities market

As equities market continues to swing up and downward, capital market operators have said that pending full year as well as quarter one (Q1) financial results that just started trickling in, will set the tone for the equities market this week.Vanguard

Why budget may not be passed today – Investigation

The planned passage of the 2018 budget today (Tuesday) by the National Assembly is no longer feasible.Punch

FG targets fresh investments in auto sector

The Federal Government is targeting fresh investments in the auto industry through the National Automotive Industry Design and Development Bill.Punch

Oyo-Ita blames Discos for power failures

The Head of Civil Service of the Federation, Mrs. Winifred Oyo-Ita, on Monday heaped the blame for persistent power failures in homes across the country on the electricity distribution companies.Punch

Nigeria not ready for post-oil economy, say Fashola, others

Nigeria has not shown enough readiness to commence the journey into a post-oil economy, the Minister of Power, Works and Housing, Babatunde Fashola, has said.Punch

Dangote Cement Appoints Ex-Xstrata CEO, Cherie Blair to Board

Dangote Cement Plc appointed former Xstrata Plc Chief Executive Officer Mick Davis as a non-executive director alongside Cherie Blair, a lawyer and the wife of ex-U.K. Prime Minister Tony Blair, as Nigeria’s largest company looks to strengthen its board.Bloomberg