Thursday, May 10, 2018

Oluseyi Awojulugbe

    Senate: 2018 budget to be passed May 16

Senate: 2018 budget to be passed May 16

The senate says the report on the 2018 budget will be considered and passed on May 16, 2018 -- six months after it was presented by President Muhammadu Buhari.Aliyu Sabi Abdullahi, senate spokesman, made this known on Wednesday while addressing a press conference.Abdullahi said the committee on appropriation is working to ensure that the budget is laid next Tuesday."It was [...]

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    MTN to raise N400bn on NSE after listing

MTN to raise N400bn on NSE after listing

Ralph Mupita, chief financial officer at MTN Nigeria, says the company hopes to raise N400 billion from its debt issuance when it gets listed on the Nigerian Stock Exchange later in the year.Speaking in a Bloomberg interview, Mupita said the proceeds will be used to fund local investment and replace existing debt.Getting listed on the stock exchange had been one [...]

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    Nigerian firm emerges Africa’s ad agency of the year

Nigerian firm emerges Africa’s ad agency of the year

Noah’s Ark Communications Limited, a Nigerian firm, has been announced as Africa's advertising agency of the year at the 2018 African Cristal Awards.The company bagged a total of 10 awards at the event which recently held in Marrakesh, Morocco.The awards include Festival Grand Prix (The Grand Cristal) for ‘Prayer Warrior’ TVC ad for Airtel, another Grand Prix in the African Culture [...]

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    Osinbajo says number of tax compliant Nigerians up by five million

Osinbajo says number of tax compliant Nigerians up by five million

Vice President Yemi Osinbajo says the number of tax compliant Nigerians has increased by five million to stand at 19 million from the 14 million earlier recorded.Speaking on Wednesday at the opening ceremony of the 2018 edition of the Chartered Institute of Taxation of Nigeria (CITN) conference, Osinbajo said Nigeria still has a long way to go to catch up with the [...]

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    PHOTOS: Toolz launches lingerie line for plus-size women to ‘feel confident’

PHOTOS: Toolz launches lingerie line for plus-size women to ‘feel confident’

Tolu Oniru-Demuren, media personality better known as Toolz, says her newly launched lingerie line for plus-size women hopes to help them feel confident and love themselves. [...]

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    MTN: Trump’s Iran decision may affect business

MTN: Trump’s Iran decision may affect business

MTN Group, South African telecommunications company, says US President Donald Trump's decision to pull out of the nuclear accord with Iran may make it difficult to repatriate funds from the country.In a statement released on Wednesday, the company said this may cause its share price to plummet.Trump had announced on Tuesday that the US would reintroduce economic sanctions on Iran, [...]

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    PIB: Don’t shower lawmakers with gifts, Saraki warns oil companies

PIB: Don’t shower lawmakers with gifts, Saraki warns oil companies

Senate President Bukola Saraki has warned oil companies not to induce lawmakers during the consideration and passage of the fiscal and host communities bill.The bill is one of the four parts of the petroleum industry bill.According to a statement by Sanni Onogu, Saraki’s chief press secretary, the lawmaker made this statement while speaking on Tuesday.The bill, which seeks reforms in [...]

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    Fashola complains about quality of completed houses in Kebbi

Fashola complains about quality of completed houses in Kebbi

Babatunde Fashola, minister of works, power and housing, asked the contractors to improve the quality of the house they built in Birnin Kebbi.On an inspection visit to the project sites, the minister said the federal government will not accept the project if it is not carried out within specifications.He observed that most of the roofing of the bungalows in the [...]

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    Budget delay eroding 2018 positive sentiments

Budget delay eroding 2018 positive sentiments

A high degree of confidence and optimism remains over Nigeria’s overall growth outlook, following the economic recovery witnessed in recent months.Higher oil prices, easing inflationary pressures and ongoing foreign exchange stability have been critical, not only in cultivating, but also maintaining the positive sentiment.However, there is a growing sense of unease over the failure of Nigeria to pass the 2018 [...]

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    IMF raises red flag on increased borrowings by Sub-Saharan African countries

IMF raises red flag on increased borrowings by Sub-Saharan African countries

Abebe Aemro Selassie, director of the African department at the International Monetary Fund (IMF), says the risk of countries in Sub-Saharan Africa slipping into debt distress is increasing.Speaking on Tuesday at the unveiling of the African Economic Outlook report in Accra, Selassie attributed this growing risk to heavy borrowing encouraged by “insatiable investor demand”.The fund projected that the region’s economy [...]

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    REVEALED: FG spent $36.3bn on fuel importation in five years

REVEALED: FG spent $36.3bn on fuel importation in five years

The Central Bank of Nigeria (CBN) says Nigeria spent $36.3 billion on the importation of petroleum products between 2013 and 2017.Speaking on Monday at a public hearing organised by a house of representatives committee, the apex bank said the figure is part of the $119.4 billion spent on importing commodities during the same period.The committee is investigating the state of [...]

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    SEC: Companies may raise all-time high N200bn from debt sales in 2018

SEC: Companies may raise all-time high N200bn from debt sales in 2018

The Securities Exchange Commission (SEC) says companies may raise as much as N200 billion from the sale of debt instruments in 2018.If actualized, this would be the highest ever in the country's history.According to SEC, five companies have already submitted plans for debt sales totaling N60.5 billion.It said improved liquidity on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange [...]

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    NSE fines seven banks for delayed financial results

NSE fines seven banks for delayed financial results

The Nigerian Stock Exchange has fined seven financial institutions for not filing their financial results before the regulatory due date.According to the listing rules provided by the stock exchange, companies are expected to submit their financial year-end result latest by 90 days after the end of each year.Quarterly results are also expected to be submitted at most 60 days after [...]

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    You can now file for divorce online — in the UK

You can now file for divorce online — in the UK

The UK ministry of justice has introduced online divorce applications in England and Wales to make the process easier for interested parties.NAN reports that the whole process from payment to providing supporting evidence can now be carried out online. [...]

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    Media experts lament popularity of fake news

Media experts lament popularity of fake news

Media experts have lamented the increasing trend of fake news because of the adverse effects it would eventually have on journalists and media houses.Speaking at the 2018 edition of the annual Gold Medal Lecture of the Public Relations Consultants Association of Nigeria (PRCAN) in Lagos, they attributed the increasing trend to social media.Emevwo Biakolo, pioneer dean of the School of [...]

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    Hurricane Heist, Avengers … 10 movies you should see this weekend

Hurricane Heist, Avengers … 10 movies you should see this weekend

Some movies leave one with a feeling of glee while some poorly executed flicks make one want to puke, punch someone and throw a tantrum – all at once.To help you avoid such a situation that’d leave you fuming out of the cinema in utter disgust, TheCable Lifestyle recommends the following movies. [...]

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Exchange Rates

May 09, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS360495436
KANO360494435
PH361494430
ABUJA360495430
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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