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Tackling low cassava yield Cassava is a key tuber crop that can help Africa overcome its reliance on food imports for Africa. But experts are concerned that average yield per hectare is still between 10 and 20 tonnes. The Nation GTB records N52.6b profit in 3 months Nigeria’s most capitalised financial institution, Guaranty Trust Bank (GTB) Plc recorded modest growths in key performance indicators in the first quarter of this year with pre-tax profit for the three-month period rising to N52.62 billion. The Nation $16.8b NLNG dividends not remitted to Federation Account, NEITI insists The Nigeria Extractive Industries Transparency Initiative (NEITI)   Executive Secretary, Dr. Waziri Adio, yesterday insisted that the Nigerian Liquified Natural Gas (NLNG’s) $16.8billion accruable dividend between 2000 to 2015 was not remitted to the Federation Account. The Nation Govt’s policies impeding ease of doing business, claims MAN The Manufacturers Association of Nig...

Too Battered to Fail: Bonds in the Gulf Are a Safe Place to Hide Investors’ appetite for risk is back, but most of the issues that soured the mood across emerging markets last week are a tweet away from flaring up again. When that happens, the Gulf’s beleaguered bonds will offer refuge. Bloomberg Investors Are Getting Worried About an Inverted Yield Curve To Citigroup Inc., the chances are slim that the U.S. enters a recession anytime soon. Officials at the Federal Reserve feel the same way. Bloomberg World Bank: Nigeria’s, others’ GDP will rise to 3.1% Sub-Saharan Africa is on course for economic growth of 3.1 per cent this year, the World Bank said yesterday. This is marginally slower than it previously forecast but faster than last year’s, thanks to rising commodity prices. The Nation Shell gets 12-year $40-100/bbl operational benchmark Royal Dutch Shell has pegged its operational outlook at between $40 and $100 per barrel of oil from this year to 2030. ...

Glaxo, Novartis Join $4 Billion Gates-Led Push to Fight Malaria GlaxoSmithKline Plc and Novartis AG will contribute research funds to an almost $4 billion global effort to combat malaria as drug-resistant strains of the disease threaten to undo years of progress. Bloomberg KPMG South Africa Fights for Survival KPMG LLP’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals. Bloomberg Liberian President Weah Orders Probe of Exxon's 2013 Oil Deal Liberian President George Weah ordered a probe into Exxon Mobil Corp.’s 2013 deal for drilling rights off the coast of the West African nation, according to his office. Bloomberg UnityKapital becomes Veritas Kapital Assurance The Nigerian Stock Exchange (NSE) has changed the name of UnityKapital Assurance Plc to Veritas Kapital Assurance Plc. The NSE also changed the company’s trading ...

Awolowo: Nigeria can generate N5tr yearly from mining The Nigerian Export Promotion Council (NEC) yesterday said the country is capable of generating   N5 trillion yearly from mining and solid mineral exportation. The Nation JP Morgan: Oil prices won’t go higher than $70 Oil prices at $70 may be the top of the range in the price of oil that would be seen over the next few years, chief global strategist at JPMorgan Asset Management, The Nation UBA, Access Bank, 2 others scale up to NSE’s premium board United Bank for Africa (UBA) Plc, Access Bank Plc, Lafarge Africa Plc and Seplat Petroleum Development Company Plc were yesterday scaled up from the main board of the Nigerian Stock Exchange (NSE) to the elite premium board. The Nation New cyber espionage campaign targets Africa Kaspersky Lab has uncovered a new cyberespionage campaign that is targeting high-profile organisations from around the world with a focus on the Middle East and North Africa. The Natio...

Custodian and Allied grows profit by 37% to N7.3b Custodian and Allied Plc witnessed significant improvement in its profitability in 2017 as the group’s profit after tax rose by 37 per cent from N5.3 billion in 2016 to N7.3 billion in 2017. Gross revenue increased from N38.55 billion in 2016 to N43.05 billion in 2017. The Nation NSE fines African Alliance N46.1m for late account submission Firm records N21b negative reserve The Nigerian Stock Exchange (NSE) has imposed a fine of N46. 1 million on African Alliance Plc for breaking its rule on account submission. According to NSE X-Compliance Report, released on April 12, 2018, the   fine is for late submission of its 2015 and 2016 audited accounts The Nation Fidson Healthcare increases dividend payout by 300% The Board of Directors of Fidson Healthcare Plc has approved a 300 per cent increase in dividend payout for the 2017 business year as the healthcare company grew its net profit by 238 per cent during the year...

The Nigerian Stock Exchange resume to full 5 days trading after the Easter holidays. The Market lost three days out of the five days trading session second week in April. The Market continue to react to the results released at the close of business last week. It was a cautious week of trading still and April continue to look murky. The Q1 2018 has started coming in with Forte Oil blazing the trail, we await Market responses to more of these in the coming days. The All Share index gained 0.21%to close the week at 40,928.70. This brought the year to date return of the ASI to 7.02%. EQUITY A total turnover of 1.415 billion shares worth N19.644 billion in 20,659 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.765 billion shares valued at N26.562 billion that exchanged hands last week in 20,265 deals. ETPs Also traded during the week were a total of 616,587 units of Exchange Traded Products (ETPs) valued at N9.185 million e...

Adeosun appoints Uduk Ag. SEC D-G The Minister of Finance, Mrs. Kemi Adeosun, has appointed Mary Uduk as acting Director-General of Securities and Exchange Commission (SEC) Vanguard NAL workers’ pension: Aviation unions issue fresh ultimatum Aviation unions have issued a fresh 14-day ultimatum to the Federal Government to pay ex-workers of the defunct Nigeria Airways. Punch Lagos trade fair complex generates N500m revenue in four months The Executive Director, Lagos Trade Fair Complex Management Board, Mrs. Lucy Omosefe-Ajayi, said the board recorded more than N500m in the first quarter of 2018. Punch Ogun debt profile about N103bn – Amosun The Ogun State governor, Senator Ibikunle Amosun, says the debt profile of the state   as of Thursday April 12. 2018 stands at N103bn. Punch NNPC subsidiary’s profit drops by 34% The National Engineering and Technical Company Limited on Friday announced that its profit before tax for the 2017 financial year dropped by ...