Morning Beats

Nestle Nigeria optimistic of better returns

Shareholders get N33.7b dividend Nestle Nigeria Plc is optimistic the ongoing economic reforms and diversification agenda of the government will lead to better performance and returns to shareholders in the years ahead.The Nation

Multiple exchange rates ‘hurting capital inflows’

Foreign investors are still worried about the multiple exchange rates operating in Nigeria which remain a big challenge to foreign capital inflows, Global Chief Economist at Renaissance Capital (RenCap) Charles Robertson has said.The Nation

FinTech big threat to banks, says Emefiele

The Central Bank of Nigeria (CBN) has identified the rising influence of Financial Technology (FinTech) firms in providing financial services to consumers as a big threat  to banking.The Nation

A pension scheme for informal sector operators

The National Pension Commission (PenCom) is set to unveil the micro pension scheme for the self-employed and workers in the informal sector to join the Contributory Pension Scheme (CPS).The Nation

NSE gives Union Bank, Transcorp, four others more time on shareholding restructuring

Authorities at the Nigerian Stock Exchange (NSE) have granted six companies further extension of the deadline to restructure their share capital in a way to dilute the overconcentration of shares and free more shares for minority shareholders.The Nation

Fed Govt invests $10b in infrastructure, says Osinbajo

Vice-President Yemi Osinbajo yesterday said the Federal Government had invested about $10 billion in infrastructure development in the last three years.The Nation

Naira appreciates to N361.41/$ in I&E window

The Naira, yesterday, appreciated slightly to N361.41 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.  Vanguard

Reps seek N500bn recapitalisation for FMBN

The House of Representatives on Tuesday asked the Federal Government to recapitalise the Federal Mortgage Bank of Nigeria to the tune of N500bn.Punch

FG woos 190 investors from 40 countries

The Federal Government is targeting to get fresh investments from over 190 investors from 40 countries in key sectors of the economy.Punch

Nigerian crude oil cargoes struggling to find buyers

Nigerian crude oil grades continued to struggle on Tuesday, weighed down by a surplus of unsold June loading cargoes as the July programmes emerged.Punch

CBN to release $2.5bn currency swap framework next week

The Central Bank of Nigeria will next week release the framework that will guide the implementation of the $2.5bn currency swap deal between Nigeria and China.Punch

FG moves to review tax laws to woo investors

The Federal Government is making moves to review the country’s tax laws as part of efforts to attract investors and create an enabling environment for businesses to thrive.Punch

Petroleum sector generates N12.132b tax in three months

Nigeria’s petroleum sector contributed Value Added Tax (VAT) of N12.132 billion during the first quarter of 2018, data from the National Bureau of Statistics (NBS) has shown.Guardian

Kenyan firm clinches deal to digitise Zimbabwe bank

A Kenyan based global software company has secured a contract to digitise the operations of a Zimbabwean commercial bank.Business Daily