Morning Beats

Settlement on $300m FTZ facility subject to our terms, says LADOL

Lagos Deep Offshore Logistics (LADOL) Group is willing to settle with Samsung Heavy Industries (SHI) over ownership of the $300 million integration and fabrication yard at theGuardian

Stock exchange’s premium index gets 49 per cent returns in three years

After three years of establishment, the seven listed companies constituting the Nigerian Stock Exchange (NSE) Premium Board Index raised activities on the platform with a 48.53 per cent gain.Guardian

Why MPC will sustain hold on rates this week

While every one would want interest rate cut at the end of meetings by the policy making arm of the Central Bank of Nigeria (CBN), it would be hope deferred again for the 13th time, because of expected domestic and foreign backlash.Guardian

Non-oil sector not competitive to drive nation’s economy, say stakeholders

Despite Federal Government’s efforts at leveraging a vibrant non-oil sector to boost nation’s economy, the sector is still not competitive enough to drive the desired change in economic diversification, rapid revenue base expansion, sustainable growth and employment generation.Guardian

Insurance firms face hostile acquisition, mergers over low capitalization

More than two-thirds of insurance companies are valued below the minimum capital requirement to operate in the lowest rung of the proposed new insurance capital base, making most insurers susceptible to aggressive mergers and acquisitions.The Nation

Nigeria’s $22b remittances receipt highest in 2017, says report

Nigeria has been adjudged the biggest receiver of remittances on the continent in 2017, an Institute of Chartered Accountants in England and Wales (ICAEW) report has said. The Report, entitled,The Nation

‘Nigeria’s entertainment/media industry revenue’ll hit $9.9b by 2022’

Revenue from Nigeria’s Entertainment and Media (E&M) industry will reach $9.9 billion in 2020, PricewaterhouseCoopers’ (PwC) “Entertainment and Media Outlook: 2018 – 2022: An African Perspective” released last week said.The Nation

Skye Bank: Another blow to investors’ confidence

The Central Bank of Nigeria’s (CBN’s) weekend sudden turnaround and liquidation of Skye Bank Plc took the financial services sector by surprise.The Nation

From Skye Bank to Polaris: How poor corporate governance blew away N2trn assets

The Nigerian Stock Exchange, NSE has notified the investing public that the shares of Skye Bank Plc will be suspended from trading on the floor of the Exchange effective Monday, 24 September 2018.

TBMSC: NAICOM to order recertification of insurers quarterly

THE National Insurance Commission, NAICOM, says that insurance companies will have to renew their operating licenses every quarter when the Tier Based Minimum Solvency Capital, TBMSC, regime kicks-off.Vanguard

2019 polls: Foreign investors withdraw N435.41bn from stock market

Foreign portfolio investors have pulled out billions of naira out of the Nigerian stock market in recent months amid bearish sentiments, primarily due to the approaching elections.Punch

FIRS collects N13bn from billionaire tax defaulters

Less than a month after it commenced its substitution of accounts of recalcitrant billionaires who have not been paying commensurate taxes, the Federal Inland Revenue Service has announced the collection of N12.66 in tax revenue from this category of Nigerians.Punch