Morning Beats

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Gains, pains of multiple exchange rates, by IMF

The exchange rate regime to be adopted by a country is dependent on many factors. They include the economic policy being implemented and the International Monetary Fund (IMF).
FG directs MDAs to authenticate Tax Certificates before payment
The Federal Government has mandated all Ministries, Departments and Agencies (MDAs) of government and the Federal Inland Revenue Service (FIRS) to authenticate all Tax Clearance Certificates (TCCs) presented by companies and individuals engaged in public procurement processes.Vanguard
PenCom approves N1.8bn for enbloc, foreigners’ pension
The National Pension Commission, PenCom, has granted approval for the enbloc payment of N1.81 billion to 3,403 retirees being the entire balances in their Retirement Savings Account, RSA, in the fourth quarter of 2017.Vanguard
N1.6 trillion released for capital projects in 2017 budget – Adeosun
THE Federal Government has announced that a total of N1.6 trillion (N1,580,270,755,084.44) capital cost was released to Ministries, Departments and Agencies for the 2017 federal budget. Vanguard

PenCom lauds pensions reforms, N8 trillion record
The National Pension Commission (PenCom) has commended the series of reforms in the sector, which has raised accumulations from contributors to N8trillion, as well as brighter hopes to retirees.Guardian

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Nigerian Stock Exchange This Week

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The Market returned to its five days trading after the sallah break of last week. It wasn't a great week for the Market even as it climax the end of trading for the month of August.  The Market opened on a negative notes on Monday, however, made a bold return on Tuesday but to frizzle out for the rest of the week with a three days consecutive losses.  The All Share index lost in what seems to be the bear dominated week. The index was down  1.63% to close the week at 34,848.45. This brought the year to date return of the ASI to (8.88%) on the negative side of the number line. The bull had a larger share of the Market though, with a breadth of 3 in favour of the Bulls. However this is little to little to reflect on the overall Market as highly capitalized stocks shed weight.  EQUITY A total turnover of 1.533 billion shares worth N23.026 billion in 17,009 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 968.947 million shares
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