Morning Beats

NCAA gets N14.3b from ticket sales

The Nigerian Civil Aviation Authority (NCAA) yesterday said N14.339 billion was generated from the mandatory Ticket Sales Charges (TSC) between January and August this year.Guardian

TETFund keeps mum amid allegations of corruption

Amid allegations of abuse of office and corruption against its Executive Secretary, Dr. Abdullahi Baffa, the Tertiary Education Trust Fund (TETFund) has kept sealed lips over the disturbing development.Guardian

FMDQ weekly report

Commentary on the foreign exchange (FX) market with data for the week-ended August 31, 2018.Guardian

CWG, Global Spectrum, PPPN fail NSE’s listing requirement

CWG Plc, Global Spectrum Energy Services Plc and Portland Paints & Product Nigeria (PPPN) Plc have less-than-required minimum volume of shares for public trading in the stock market, a major infraction that may adversely affect liquidity and efficient price discovery on the companies.The Nation

‘Funding, non-implementation of new rate affecting pension growth’

The pension fund keeps rising, hitting N8.23 trillion in May. But its contribution to the gross domestic product (GDP) is five per cent.The Nation

Insurance firms brace for emergency capital raising

Insurance companies have launched plans for emergency fund raising at the capital market as consolidation looms in Nigeria’s most populous quoted industry.The Nation

CAC to register business names within six hours

The Corporate Affairs Commission says it is working towards the deployment of effective Information Technology application to ensure the registration of business names within a period of four to six hours.Punch

Tanker explosion: Insurers to compensate seven vehicles’ owners

Seven out of the 54 vehicles that were burnt in the tanker explosion that occurred on the Otedola Bridge end of the Lagos-Ibadan Expressway recently have been confirmed to have comprehensive insurance.Punch

Nigeria spends $2bn annually on honey importation

Nigeria spends over $2bn annually on the importation of honey, the Federal Government has said.Punch

Investors unwilling to buy stake in power assets – Discos

Nearly five years after the nation’s power sector was privatised, core investors in the electricity distribution companies say they have been unable to recoup their investment in the acquired assets.Punch

PFAs invest N11.36bn in infrastructure, eye airport projects

The Pension Funds Administrators have continued to raise their investments in infrastructure even as they move to extend their investment tentacles to the nation’s airports as assets under their management increasePunch

Population growth, GDP decline worry LCCI

The Lagos Chamber of Commerce and Industry has expressed concern over increase in population against declining Gross Domestic Product as shown in the report of the second quarter 2018.Punch

Shareholders kick against NAICOM’s new recapitalisation deadline

Shareholders in the insurance industry have rejected the change in the recapitalisation deadline given to underwriting firms to recapitalise from January 1, 2019 to October 1, 2018.Punch

Banks downsize loan portfolio by N855bn

In the face of a persisting difficulties in the macroeconomic environment as well as uncertainties in the political environment, current figures indicate that banks are downsizing their loans and advances to businesses in favour of investments in treasury instruments.Vanguard

External reserves to drop below $45bn in Sept

Nigeria’s external reserves are projected to fall below $45 billion at the end of September, the lowest in six months.Vanguard

FG okays $1.3bn for Lagos-Ibadan Expressway, four other projects

The Federal Government has set aside $1.3bn (about N468bn) from the National Sovereign Investment Fund to finance five critical infrastructure projects.Punch