Morning Beats

Nigeria, Korea seal economic development deal

Nigeria and Korea Republic are committed to working together to achieve sustainable economic development in Nigeria, the Minister of State, Budget and National Planning, Mrs. Zainab Ahmed has said.The Nation

NNPC’ to list 40% of shares on NSE

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said 40 per cent of the shares of the Corporation would be floated on the Nigerian Stock Exchange (NSE) when the Petroleum Industry Governance Bill (PIGB) gets  Presidential Assent.The Nation

‘Load rejection led to dip in power supply’

The Nigerian National Petroleum Corporation (NNPC) says the drop in power generation could have been triggered by continuous rejection of load by electricity distribution companies (DisCos). Its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, explained in a statement.The Nation

Nigeria, India trade hits $12b

The trade volume between India and Nigeria hit $12 billion between April 2017and March 2018, Indian High Commissioner to Nigeria, Nagabhushana Reddy, has said.The Nation

Manufacturing, agric sectors to get fixed interest rate on loans

Banks are now to give credit to the manufacturing and agricultural sectors at fixed interest rate which will run for a period of seven years.Vanguard

NSE: Bears dominate as stock market hits 52 weeks low

The equity market closed lower on Thursday as the bears continued to dominate market, with the Nigerian Stock Exchange, All Share Index, ASI shedding further, by 1.3 percent to close at 34,618.43 points, thus hitting its 52-week low.Vanguard

Freezing customers’ bank accounts over tax payment default, threat to economy – LCCI

The Lagos Chamber of Commerce and Industry (LCCI) on Thursday decried freezing of customers’ bank accounts based on “disputed tax assessments’’ by Federal Internal Revenue Service.Vanguard

States failed to remit N41bn VAT – FIRS

The Federal Inland Revenue Service has accused state governments of failing to remit Value Added Tax to the tune of N41bn to the Federal Government’s coffers.Punch

43% of Nigerians remain financially excluded ―LBS

The Lagos Business School has revealed that 43 per cent of Nigerians are financially excluded.Punch

Forex inflow hit $91bn in 2017 – CBN

The Central Bank of Nigeria, says the aggregate foreign exchange inflow into the country stood at $91 billion in 2017.Punch

Return 5% lump sum to retirees, PenCom orders PFAs

The National Pension Commission has directed the Pension Fund Administrators to pay additional five per cent lump sum to retirees that were initially paid 20 per cent of total balance in their Retirement Savings Accounts on retirement.Punch

CBN allays fears over falling external reserves, capital outflows

The Central Bank of Nigeria has said the recent decline in the nation’s foreign exchange reserves and capital outflows from the country are not a cause for worry.Punch