Morning Beats

Shareholders recapitalise Goldlink Insurance with N3.3b

THE shareholders of Goldlink Insurance Plc has  approved the re-capitalisation of the firm. The approval to raise N3.3 billion capital through right issue was given during the 20th Annual General Meeting (AGM) of the company for  the financial year ended December 31, 2015,The Nation

Flour Mills concludes N39.9b capital raising

Flour Mills of Nigeria Plc recorded full subscription to its recent N39.9 billion rights issue, increasing the equity base of Nigeria’s largest flour-milling conglomerate.The Nation

Foreign investors’ Q1 stakes on equities up by 80.9%

Foreign investors almost doubled their stakes on equities in the first quarter. Foreign Portfolio Investors (FPIs) report for the first quarter ended March 31 showed that transactions by foreign investors grew by 80.9 per cent to N381.82 billion in first quarter compared with N211.06 billion recorded in corresponding period last year.The Nation

Fuel price hike fear pushes up food, other prices

Prices of consumables and building materials have increased in anticipation of a possible hike in the price of petrol, it was learnt at the weekendThe Nation

Why Adeosun, Kachikwu, others shunned Reps fuel subsidy panel

Indications emerged at the weekend as to why Finance Minister, Mrs. Kemi Adeosun and her counterparts in the ministries of Petroleum Resources and Budget & National Planning jettisoned the probe panel set up by the House of Representatives to investigate the secret payment of fuel subsidy.The Nation

CBN raises 2018 money supply growth forecast to 10.98%

THE Central Bank of Nigeria (CBN) last week released its Monetary, Credit, Foreign Trade and Exchange Guidelines for the 2018 and 2019 fiscal years, raising its money supply growth forecast  for 2018 to 10.98 percent.Vanguard

Equities market to ride on Q1’18 results this week

CAPITAL market operators and investment bankers have projected that the equities market will record another positive close this week riding on the back of impressive first quarter 2018 (Q1’18) financial results released by quoted companies last week.Vanguard

PTAD adds 7,969 federal retirees to payroll

The Pension Transitional Arrangement Directorate says it has added 7,969 civil service pensioners to its payroll and they have started receiving regular monthly pensions.Punch

AMCON MD calls for stiffer regulation of aviation

The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria, Ahmed Kuru, has called on agencies that are saddled with the responsibility of regulating the aviation industry and other critical sectors of the economy to adopt the same template, which the Central Bank of Nigeria used in streamlining banking operations in the country.Punch

Give state tax agencies autonomy, Fowler tells govs

The Chairman, Joint Tax Board and Federal Inland Revenue Service, Mr. Tunde Fowler, has called on state governors to empower state internal revenue services by making them autonomous.Punch

Efficient tax system vital to economic growth, says FIRS

The Coordinating Director, Domestic Taxes Group/Special Adviser to the Executive Chairman, Federal Inland Revenue Service, Mr. Abiodun Aina, says efficient tax system is vital to the Federal Government’s quest to achieve sustainable economic growth and infrastructure development.Punch

FG borrows N5.5tn from pension savings, delays minimum payment

About two years after the Pension Fund Administrators started funding the Pension Protection Fund meant for financing minimum pension payment to retirees under the Contributory Pension Scheme, the Federal Government has yet to fulfil its own side of the funding arrangementPunch

Nigerians unofficially exporting $40bn goods annually, says NEPC

The Nigerian Export Promotion Council has said Nigerians are exporting goods worth over $40bn informally every year.Punch

Adekoje emerges as CIS president

Mr. Adedapo Adekoje, the 1st Vice-President of the Govering Council of the Chartered Institute of Stockbrokers, has been elected as the institute’s president as Mr. Oluwaseyi Abe retires.Punch

M-Kopa wins legal fight over taxation of solar televisions

Mobile phone-based solar products provider M-Kopa has won a legal battle against the taxman in a precedent-setting case that is expected to define how the Kenya Revenue Authority (KRA) deals with vendors of similar gadgets.Business Daily