Morning Beats

Nigerian equities lose N200b amid global slowdown

Nigerian equities closed at the weekend with a net capital loss of N200 billion as investors reassessed portfolio compositions ahead of the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).The Nation

Expert seeks monitoring of livestock diseases

A consultant to the World Bank, Prof Abel Ogunwale, has called for an improved monitoring system by animal health authorities to prevent the spread of livestock diseases.The Nation

‘African insurance markets suffer from unhealthy competition, others’

African insurance markets suffer from cut-throat competition and excess capacity, African Insurance Organisation (AIO)Secretary-General, Prisca Soares has said.The Nation

Nigeria’s economic outlook bullish, needs more investments, says Renaissance Capital

Nigeria’s economy has the potential to double its current performance within the next 12 months, but the government needs to support economic growth with more investments in basic infrastructure, especially electricity.The Nation

CBN lifts retail SMIS with $293m foreign exchange injection

The Central Bank of Nigeria (CBN) at the weekend lifted the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market with the sum of $293 million.The Nation

MPC to retain policy rates as N266bn inflow boosts interbank liquidity

FINANCIAL market analysts were, weekend, united in their projections about the outcome of the Central Bank of Nigeria’s 118th Monetary Policy Committee, MPC, Vanguard

Forte Oil Plc: Facts behind the investors’ apathy

AS the bear run on equities listed on the Nigerian Stock Exchange, NSE, persists it seems that investors are more in the mood of negative bandwagon.Vanguard

Lack of trust, understanding prevent youths from embracing insurance

“I will rather put my money in a fixed deposit account than take up an insurance policy”, said Amalu Robinson, a graduate of University of Nigeria, Nsukka, UNN.Vanguard

Foreign investors rattle forex market

FOLLOWING the upsurge in demand for dollars last week by foreign investors, Nigeria’s foreign exchange market came under pressure with analysts in divergent views as to the impact on the market this week.Vanguard

Appetite for value stocks to drive equities market this week

ON the backdrop of the negative sentiment that prevailed in the equities last week, Vanguard

N29bn debt: AMCON takes over Sea Petroleum Oil & Gas Limited

ASSET Management Corporation of Nigeria, AMCON, has taken over the assets of Sea Petroleum Oil & Gas Limited due to failure to repay N20 billion debt owed Union Bank of Nigeria PlcVanguard

Investments in Lekki’ll make Lagos next business destination in Africa – Ambode

Lagos State Governor, Mr Akinwunmi Ambode on Sunday inspected the ongoing projects in the Lekki Free Trade Zone, saying the massive investments being jointly made in the axis by government and the private sector was targeted at making Lagos emerge as the next destination for business in Africa.Vanguard

N360BN TAX LIABILITY: Evaders have two months left to pay through VAIDS or risk severe punishment — FG

The Federal Government launched the Voluntary Asset and Income Declaration Scheme (VAIDS) on June 29, 2017 to address the problem of low tax compliance in the country and to generate the much-needed revenue for public expenditure.Vanguard

Buhari’ll receive passed 2018 budget this week – Reps

The House of Representatives has said that a clean copy of the 2018 budget will be on the table of President Muhammadu Buhari within one week from the date of passage.Punch

Naira devaluation unlikely before elections —Analysts

Analysts at FBNQuest Capital Limited have said that the monetary authorities are unlikely to devalue the naira or unify the exchange rates before the 2019 elections.Punch

Rising US interest rates threaten capital flows into Nigeria

Nigeria is not immune to the negative spillover effects of higher United States interest rates, which are capable of dampening foreign portfolio investors’ appetite for the nation’s financial assetsPunch

NNPC reduces loss by 77.1% as refineries perform poorly

The Nigerian National Petroleum Corporation reduced its group operational loss by 77.1 per cent, cutting it down by N5.3bn within a period of one month.Punch

FG okays six new fertilizer blending plants

The Federal Government has given approval to six additional blending plants for the production of fertilizer in the country under the Presidential Fertilizer Initiative.Punch

NSIA to manage $650m presidential infrastructure fund

The newly established $650m Presidential Infrastructure Development Fund is to be managed by the Nigeria Sovereign Investment Authority.Punch

Stanbic gets free CEO from head office

Stanbic Bank has made history in executive pay reporting with the disclosure that its chief executive, Greg Brackenridge, works for the company at no cost.Business Daily

Foreigners remove Sh5.3bn at the NSE Investors cash in on the blue chips since mid-April

Foreign investors have made net sales of Sh5.3 billion from the stock market in the last month on profit-taking activities, putting pressure on stock prices and pushing the main index down by six per cent over the period.Business Daily

T-bills hit record high on rush for one-year paper

Treasury bills subscription peaked to the highest level in the current fiscal year hitting an overall performance rate of 183.10 per cent, lifted by appetite for the one-year tenor paper.Business Daily

Steinhoff repurchased shares from its employee scheme

Steinhoff International repurchased 40.4-million shares from its employee share-participation scheme in a transaction valued at about R2.3bn just weeks before the December 2017 announcement about "accounting irregularities" wiped out most of the value of the shares.Business Day