Morning Beats

How Nigeria remains exposed to shocks

Besides the shallow trend of Nigeria’s economic diversification, the trade war between the United States (U.S.) and China is increasing its susceptibility.Guardian

‘Step up policy implementation to forestall another recession’

Market operators have stressed the need for the Federal Government to step up the implementation of various policies and reforms needed to boost economic growth and ultimately avert another round of recession in the country.Guardian

Business in Politics: A historically recommended mix

How should we define the role of policymakers in improving the efficiency of the economy’s primary participants? Here are lessons form the first time business had a definitive say in politics.Guardian

Banks, the challenges and real sector interventions

After the global financial crisis in 2008, central banks across the globe re-invented their policy basket, which saw the emergence of a renewed vigour in unconventional monetary policy.Guardian

Investors stake N7b in three banks’ shares

Trading in the shares of United Bank for Africa (UBA),  Guaranty Trust Bank (GTBank) and Stanbic IBTC Bank Plc, accounted for N7 billion deals, at the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE).Guardian

‘Expand market’s reach to gain from demutualisation’

For the much-awaited demutualisation of the exchange to attract huge investment needed to rejuvenate the stock market, experts have stressed the need for regulators to create more investible products and revive the second tier market before kicking off the process.Guardian

‘Fed Govt must tame spiralling inflation’

Though inflation rate has continued to drop in the past 14 months, it is still high at 11.14 per cent. Institute of Chartered Accountants of Nigeria (ICAN) President Razak Jaiyeola believes the government must work harder to tame itThe Nation

NSE to sanction seven banks, 21 firms for poor governance

The Nigerian Stock Exchange (NSE) may sanction 28 companies for failing to meet post-listing requirements, timely release of operational reports and financial statements.The Nation

NAICOM to publish names of Tier 1, 2, 3 firms in Oct.

The National Insurance Commission (NAICOM) is planning to publish the names of insurance firms and their categories next month, The Nation has learnt. The publication will show the firms that will operate as Tier 1, Tier 2 and Tier 3 under the new Tier-Based Minimum Solvency Capital (TBMSC) Policy.The Nation

Forex: CBN injects $303m, CNY 46.58m into retail SMIS

The Central Bank of Nigeria (CBN) has injected $303.91 million into the interbank retail Secondary Market Intervention Sales (SMIS).The Nation

Total’s $16bn Egina first oil under threat as Ladol sacks Samsung from dockyard

THE production of first oil from Total’s $16 billion Egina project is being threatened as the management of Lagos Deep Offshore Logistics, LADOL, banished Samsung Heavy Industries, SHI, from its dockyard.Vanguard

HI’18: Gross earnings of Tier-1 banks down by 0.9% to N1.3trn

There are indications that the    sluggish economic environment  may have taken a toll on tier-1 banks forcing their aggregate topline figures into negative position in the first half of 2018, H1’18.Vanguard

Lingering jitters in global markets expose NSE to more sell-offs

The Nigerian stock market may face further sell-offs in the coming weeks following the lingering crisis in the global economic space, investment experts have said.Vanguard

We’ll go after billionaire tax defaulters – FIRS

The Federal Inland Revenue Service will soon go after the bank accounts of defaulting taxpayers, who are raking in billions of naira in Nigeria and are not paying taxes, according to the FIRS Chairman, Tunde Fowler.Punch

FIRS to raise tax-to-GDP contribution by 20%

The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period.Punch

Power firms fail to provide meters for 58% of customers

Electricity consumers have expressed disappointment as nine of the 11 power distribution companies in the country have not supplied meters to more than half of their customers.Punch

‘Airports recorded 4.9% decline in passenger traffic in Q2’

The number of air passengers dropped by 4.9 per cent from 3.85 million in the first quarter of this year to 3.65 million in the second quarter, a report on the aviation sector released by the National Bureau of Statistics has revealedPunch

FG releases N9bn for 550 low-cost houses

According to the Federal Housing Authority, the low-cost houses, which shall be replicated in the all state capitals across the country, will be specifically for low income earners.Punch

Insurance sector grew by 6.07% in Q2 –NBS

The insurance industry, which accounts for 16.02 per cent of the financial sector, grew by 6.07 per cent in the second quarter of 2018 financial period, according to figures from the National Bureau of Statistics.Punch