Morning Beats

Consumers bear high spectrum costs in Nigeria, Ghana, others

Telecommunications consumers in Africa are said to be the ones bearing the brunt of high spectrum fees in the region, as untold cost are passed to them.Guardian

Again, SEC warns Nigerians to desist from investing in Ponzi schemes

The Securities and Exchange Commission (SEC) has again warned Nigerians against investing in schemes that offer unreasonable returns and not approved by the commission.Guardian

Inflation to fall further, increase calls for rate cut

The lower than expected increase in consumer prices recorded in the month of June has been projected to cause more decline in inflation level, reduce cost of borrowing by government and raise further call for interest rate cut.Guardian

PTAD pays N1.7bn pension arrears to 5,382 newly enrolled

The Pension Transition Arrangement Directorate (PTAD), said it recently paid a total sum of N1.7billion being outstanding pension arrears to 5,382 pensioners out of the 7,969 civil service pensioners, who were enrolled into its monthly payroll in March.Guardian

Experts worry about budgetting loopholes

Budget and tax experts from across the country, who yesterday gathered in Abuja, have expressed serious concern over loopholes in Nigeria’s budgeting system.Guardian

‘PIB will ensure transparency, growth in oil sector’

The Chairman, Strides Group, owners of Strides Energy & Maritime Ltd., an Offshore /Swamp Oil and Gas construction services company, Mr. Moritz Abazie has called on the National Assembly to expedite the passage of the remaining three parts of the Petroleum Industry Bill (PIB).Guardian

Lawmakers to hold capital market stakeholders’ forum

The Senate and House of Representatives’ Committees on Capital Market and Institutions, Securities and Exchange Commission and other Regulatory Agencies, are set to hold the second biennal Stakeholders’ Forum on the Capital Market on Monday, July 23.Guardian

Senate probes Kachikwu over alleged oil/ gas sector deals

The Senate yesterday asked its Committee on Petroleum Resources (Upstream) to investigate alleged irregularities in the oil and gas sector lease renewal.The Nation

CBN recovers N65b illegal bank charges

The Central Bank of Nigeria (CBN)  said it has recovered over N65 billion  wrongfully deducted and illegal charges from customers’ deposits and other transactions within the banking systemThe Nation

Nahco confirms new major investors own 16.7% stake

The board of directors of Nigerian Aviation Handling Company (Nahco) Plc yesterday confirmed that a new major investor has acquired 16.7 per cent equity stake in the ground handling company, confirming an exclusive report by The Nation.The Nation

Naira appreciates to N358.5/$

The Naira, yesterday, appreciated by 70 kobo to N358 per dollar in the parallel marketVanguard

FG unveils new national carrier, Nigeria Air, targets 81 routes

The Federal Government on Wednesday unveiled the branding and livery for the new national carrier, Nigeria Air, and stated that the airline would be inaugurated at the end of this year.Punch

Nigeria loses N72bn to gas flaring in three months

Oil and gas companies operating in the country flared a total of 85.81 billion standard cubic feet of natural gas in the first three months of the year, causing the country an estimated loss of N72.41bn.Punch

Senate okays N348bn subsidy payment to oil marketers

The Senate has approved the payment of subsidy claims totalling N348bn to oil marketing companies based on a request by President Muhammadu Buhari.Punch

FG seeks to reduce N183bn sugar import bill

The Federal Government is seeking more private sector investments in the sugar industry to reduce the huge amount being spent by Nigerians on the importation of the product.Punch