Morning Beats

New major investors acquire 16.75% stake in Nahco

Investors have concluded transfer of about 16.75 per cent equity stakes in Nigerian Aviation Handling Company (Nahco) Plc, raising  possibility of changes in the shareholding structure of the ground handling company.The Nation

AfDB okays $12b for energy

The African Development Bank (AfDB) has committed $12 billion to its New Deal on Energy for Africa programme. Sub-Saharan Africa  has 14 per cent of the world’s population and accounts for four per cent of global energy investment.The Nation

Investors face downtime in second half as uncertainties stoke fears

Investors in the capital market will struggle with low returns in the second half of this year and may end the year with less-than-previously projected returns as macro-economic risks combine with political risks to weaken the immediate return horizon for Nigerian assets.The Nation

CBN: financial inclusion to add $36b deposits to banks

Banks’deposits are expected to rise by $36 billion in 2025, a financial inclusion report released by the Central Bank of Nigeria (CBN) has shown. The Exposure Draft of the Financial Inclusion Strategy signed by CBN Director, Development Finance Department,The Nation

Customs Service rake-in about N13b cash in Lagos

The Nigeria Customs Service (NCS) has raked-in about N13billion at one of its commands in Lagos, it was learnt.The Nation

FG’s borrowings for 2018 budget to hit N2tr — FSDH

Says naira devaluation will worsen public debt FSDH Merchant Bank has  projected that the federal government will borrow up to N2 trillion to finance its budget in 2018, Vanguard

Turnover in I&E rises 24% to $29.7bn in H1’18

THE volume of dollars traded in the Investors and Exporters, I&E, window rose by 24.2 percent to $29.7 billion in the first half of the year, H1’18, from $23.9 billion traded in 2017.Vanguard

11 banks net N143bn from accounts maintenance charges

CUSTOMERS of eleven banks have paid N143 billion as Account Maintenance Fee, AMF, since 2016 when it was introduced by commercial banks.Vanguard

Cadbury outlines measures to sustain profitability in 2018

CADBURY Nigeria Plc has listed the major areas of concentration for the Board and management that will help the company in its drive to sustain the growth achieved in 2017 after a rebound to profitability from the 2016 losses.Vanguard

MTN hasn’t filed application for IPO – SEC

The Securities and Exchange Commission on Sunday said it had not received any application from MTN Nigeria Limited regarding its proposed initial public offering.Punch

Retirees kick as pension operators slash lump sum to 20%

A new template recently given to the Pension Fund Administrators by the National Pension Commission for the calculation of retirement benefits to Contributory Pension Scheme retirees has led to the reduction in lump sum being paid out and this is generating concerns among some pensioners,Punch

Dangote dangles fuel marketing licences at cement distributors

For their continued loyalty, the management of Dangote Cement Plc has announced cash and kind rewards and priority distributorship licences as soon as Dangote’s refinery project comes on stream next year for the cement distributors.Punch

NGPTC posts N6.1bn profit, to deliver pipeline projects

The Group Managing Director, Nigerian National Petroleum Corporation, Maikanti Baru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company, a subsidiary of the NNPC.Punch

Shareholders demand forensic audit report on Oando

Shareholders under the aegis of Proactive Shareholders Association of Nigeria have called for the release of the forensic audit report on Oando Plc.Punch

Predominance of rights issues and ownership structure challenges

With the prevalence of rights issues in the nation’s capital market in 2017, stakeholders have raised concerns of possible effect on ownership structures of listed firms that embarked on the exercise.Guardian