Morning Beats

Reality dawns as debts wobble under sustainability test

Nigeria failed the test conducted to determine its ability to sustain ongoing borrowings and their repayments in the next five and 10 years, an affirmation of the growing fears over increasing level of borrowings and huge costs incurred in servicing them.Guardian

Why sector products are hard to sell in Nigeria

Insurance business remains unviable and its products hard to sell in the Nigerian market place.Guardian

Again, corporate profits take hit from socio-economic uncertainties

The continued tensed political environment, reported killings across the country, coupled with election fears are not assuring to both domestic and foreign investors and it is already telling on corporate performance.Guardian

NNPC, DPR must explain zero revenue remittance, says Auditor-General

THE Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) have cases to answer over non-remittance of revenues to the Federation Account for several months, a new report  has shownThe Nation

Allianz Group completes Ensure’s acquisition

Allianz Group has completed the acquisition of 99.03 per cent of the shares in Ensure Insurance Plc from its core shareholder, Greenoaks Global Holdings Ltd. (GGH), the Group’s Africa Regional Chief Executive Officer (CEO), Coenraad Vrolijk has said.The Nation

AfDB boosts Afreximbank’s trade finance with $900m

The African Development Bank President, Adeniyi Adesina, has said the lender has provided trade finance lines of credit of $900 million trade finance mitigation support to promote Afreximbank’s trade finance activities.The Nation

CEOs anxious over insurance industry recapitalization

THERE is anxiety in the insurance industry over the recapitalisation directive issued by the National Insurance Commission (NAICOM) to Chief Executive Officers (CEOs).The Nation

CBN injects $340m, CNY 69m into Retail SMIS

THE Central Bank of Nigeria (CBN), at the weekend, injected $340 million into the interbank retail Secondary Market Intervention Sales (SMIS).The Nation

NBC pledges continued investment in glass bottle

NIGERIA Bottling Company, NBC, bottlers of Coca Cola has said it will continue to invest in glass bottles as content container for its brands as it is more environmentally friendly, and helps the consumer to have a healthier drink.Vanguard

FMDQ shareholders approve N5bn capital raise, name change

SHAREHOLDERS of FMDQ OTC Plc have approved the plan by the Board of Directors to raise N5 billion fresh capital to further boost its operation.Vanguard

CIS pledges commitment with NASS to amend investment laws

THE Chartered Institute of Stockbrokers, CIS, has emphasized its commitment to work with the National Assembly to amend some relevant investment laws that impede Nigeria’s economic development.Vanguard

Pension fund assets hit N8.14tn — PenCom

The National Pension Commission said on Sunday that the total pension fund assets stood at N8.14tn as of May this year, the News Agency of Nigeria reported.Punch

Itakpe-Ajaokuta-Warri rail ready next year — Minister

The Itakpe-Ajaokuta-Warri standard gauge rail line will be ready for commercial use next year, the Minister of Transportation, Rotimi Amaechi, has said.Punch