Morning Beats

PenOp: contributors’ change of PFAs to happen soon

Association gets first woman president Lack of biometrics has been hindering the implementation of the transfer window platform that will enable pension contributors and retirees change their Pension Fund Administrator (PFAs),The Nation

Lagos contributes 75% to workers’ health insurance scheme, says Ambode

Lagos State Government has contributed 75 per cent to Health Insurance Scheme provided for its workers,The Nation

Support private sector with capital, LCCI urges NSE

The Lagos Chamber of Commerce and Industry (LCCI) has advised the Nigerian Stock Exchange (NSE) to mobilise investment funds for the private sector.The Nation

Manufacturing sub-sectors grow

A report released by the Central Bank of Nigeria (CBN) has shown that 12 of the 15 sub-sectors of the manufacturing sector recorded a growth in April.The Nation

Satzenbrau gets international recognition for taste and quality

IN recognition of Guinness Nigeria’s commitments to quality and excellence, Satzenbrau Premium Pilsner Lager has been awarded Gold in the 2018 Monde Selection Awards in Brussels, Belgium for taste and quality.Vanguard

No taxation, no representation: Can you demand what you haven’t contributed to build?

PROFIT making in Nigeria is almost entirely based on skirting the rules and very few realise their business model is precariously constructed upon a small mountain of illegalitiesVanguard

CBN test reveals loopholes in banks’ anti-money laundering system

Majority of the Deposit Money Banks in the country failed an anti-money laundering system examination conducted by the Central Bank of Nigeria, a report by the CBN has revealed.Punch

Nigeria’s unemployment, poverty rates increased in 2017 – World Bank

Nigeria’s unemployment and underemployment rates increased in 2017, the World Bank has said.Punch

Workers oppose 5% petrol levy, power sector privatization

Nigerian workers on Tuesday kicked against the introduction of a five per cent levy on the Premium Motor Spirit, popularly called petrol, as proposed in the Petroleum Industry Governance Bill that was passed recently by the National Assembly.Punch

Shareholders divided over CBN’s plan to sack bank chiefs

Capital market shareholders have expressed divergent views on the recent decision by the Central Bank of Nigeria (CBN) to sack CEOs and chairmen of banks that fail to publish theirGuardian

Government urged to create enabling business environment

Investors seeking opportunities in the country have emphasized the need for government to implement the right policies that would enhance the growth of business activities by creating an enabling environment for businesses to thrive in the country.Guardian

Not Everyone Gets Why OPEC Is Determined to Stick With Cuts

OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target. The primary justification for doing so looks shaky.Bloomberg

Safaricom to launch messaging app linked to M-Pesa

Safaricom,  Kenya’s biggest telecoms company, is piloting a social messaging app that will link to its mobile money platform in an attempt to move the company into the application business, the company said on Tuesday.Business Daily

US rejection of duties exemption threatens 7,500 jobs in SA

The US rejects SA's bid for an exemption from steel and aluminium tariffs; but they may contravene WTO rulesBusiness Day

Investors may get Old Mutual break-up bonanza

Shareholders in the two companies that will come out of Old Mutual’s break-up may get extra cash via special dividend payouts after they list in London and Johannesburg in June.Business Day