Morning Beats

SEC fails corporate governance test

The Securities and Exchange Commission (SEC) has not published its yearly reports and accounts for four years, The Nation discovered at the weekend. This is a violation of the Investment and Securities Act (ISA) 2007, Code of Corporate Governance and extant rules at the capital market.The Nation

Leadway supports new capital regime, reclassification

More firms will soon be finding their voice and position as Leadway Assurance steps forward to support the introduction of the solvency requirement for insurers from January 1, next year.The Nation

Underwriter assures investors of better investment return

Guinea Insurance Plc has assured shareholders of improved returns on investment, even as the investors applauded the company’s board for outstanding performance in the financial year ended December 31, 2017.Guardian

Investors lose N295b in seven months as politics weighs in

Piqued by estimated N295 billion losses suffered by investors in the last seven months, stakeholders have warned political parties and their representatives to desist from actions that portend further risks or trigger more panic in the market.Guardian

Financial stocks contribute 59.23% to total equity turnover

The financial services industry (measured by volume), dominated in volume terms at the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE), with 824.153 million shares valued at N9.274 billion traded in 11,620 deals.Guardian

‘Nigerian equities are long-term play’

The decline in the returns from the nation’s equities market has been a source of concern to investors, but also presents an opportunity for bargain hunters in high-value stocks to position for long-term gains. Guardian

Africa50 mobilises funds for $108b yearly infrastructure gap

Africa50 has emerged a key player in driving infrastructure investments with commercial rates of return in the region, in effort to bridge the continent’s infrastructure financing gap estimated at $108 billion, after two years operations. Guardian

NIBSS seeks more collaboration for financial inclusion

There is still more to do by all stakeholders in the quest for 80 per cent financial inclusion rate by 2020, especially as cash continue to dominate transactions in the country, the Nigeria Interbank Settlement System (NIBSS) has noted.Guardian

Nigeria deep in $30tr global loss to inequality

An economist and former Chairman of the United States Federal Reserve, Ben Bernanke, once said: “Income inequality is troubling because, among other things, it means that many people in our society do not have the opportunities to advance themselves….No economy can succeed without a high quality workforce, particularly in an age of globalisation and technical change.”Guardian

Dangote refinery’ll boost Nigerian crude oil sale – Edwin

The Group Executive Director, Dangote Industries Limited, Devakumar Edwin, has said the oil refinery being built by the company will provide a ready market for the nation’s crude oil.Punch

Why some retirees earn lower pensions

Pensions earned by a retiree under the Contributory Pension Scheme can be affected by the number of years the worker must have made contributions into the Retirement Savings Accounts.Punch

Lagos-Ibadan rail: FG to deploy 16 locomotives, 40 coaches, others

The Federal Government will deploy about 16 locomotives, 40 coaches and 120 wagons in the standard gauge Lagos-Ibadan rail line that is currently under construction.Punch

Seven banks make N8.58bn fresh investments in software

A total of seven Deposit Money Banks reported fresh investments worth N8.58bn in software in the first three months of the year in order to deliver seamless banking services to customers.Punch

‘CBN’s Anchor Borrowers’ Programme creates 1.5 million jobs’

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending on Sunday said about 250,000 direct jobs and 1.25 million indirect jobs had been created under the Anchor Borrowers’ Programme of the Central Bank of Nigeria.Punch