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Monthly Archives: June 2019

Uncertainty, apathy sustain selloff as index falls further by 1.27%

Investors lose N125 billion in three trading days

Analysts optimistic, urge investors to position for capital appreciation The All-Share Index (ASI) and market capitalisation slumped by 1.27 per cent over sustained selloffs pressure and low turnover at the close of trading last week, following negative sentiments on medium and high ...

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Buhari directs CBN to blacklist firms still importing palm oil

Association urges stricter border control to check smuggling, others

President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist any firm, its owner and top management caught smuggling or dumping palm oil into the country. The presidential directive was disclosed by CBN Governor, Mr Godwin Emefiele, at ...

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AfDB restates warning on rising debts among African nations

AfDB restates warning on rising debts among African nations

Reinvests $103m earnings in business development Despite the low international debt threshold of many African countries, Nigeria inclusive, a message from the African Development Bank (AfDB) the weekend was that of caution and pursuit of growth with escalated obligations. Nigeria ...

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‘How Nigeria, others generated $67b insurance premium’

‘How Nigeria, others generated $67b insurance premium’

Experts link sector’s low penetration to operator inefficiency   Nigeria and other African countries were able to generate $676.7 billion insurance premium income, going by the records of the 46th Africa Insurance Barometer, a research report that covers African insurance market. ...

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NMU Quagmire: How NIMASA Flouted Due Process In Creating Maritime University

BEARS: Aggrieved Seafarers Hushed

·  NEEDS Assessment crucial to transforming maritime sector ·  Polytechnics, not universities germane to maritime sector growth By Kenneth Jukpor Few weeks after President Muhammadu Buhari declined assent to the bill seeking the establishment of Nigeria Maritime University (NMU) in Okerenkoko, Delta ...

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Toyinlicious Toyin

Toyinlicious Toyin

Mrs. Toyin Olawoye is a Director at Multistream Energy Ltd, a company she co-formed in 2011, providing financial advisory and consultancy services. She has successfully worked on originating transactions, capital raising, financing structuring and advisory. She is also involved, as ...

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BULLS: LASTMA Pay Hike

BULLS: LASTMA Pay Hike

While other State governments are grappling with minimum wage payment, the Lagos State Governor, Babajide Sanwo-Olu, has approved an increment in the monthly allowance of officials of the Lagos State Traffic Management Authority (LASTMA). The Governor’s Deputy Chief Press Secretary, ...

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BEARS: When It Rains!

BEARS: When It Rains!

Rain has been said to connote a renewal and rebirth. Spiritually, it has also been attributed to bring blessings. However, rain is also a symbol for ongoing misery and this best describes the situation in the photograph above as pedestrians ...

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Perils Of Illegal Oil Refining

Perils Of Illegal Oil Refining

“When you have bad governance, of course, resources are destroyed: The forests are deforested, there is illegal logging, and there is soil erosion. I got pulled deeper and deeper and saw how these issues become linked to governance, to corruption, ...

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Customs Destroy Frozen Turkey Worth N3.4million

Customs Destroy Frozen Turkey Worth N3.4million

Nigeria Customs Service (NCS) burnt over three hundred cartons of frozen turkey with a Duty Paid Value (DPV) of over N3.4million on Friday last week, at the Western Marine Customs Command, Lagos State. The Customs Area Controller (CAC) of the ...

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FG Procures Two Coaches For Lagos-Ibadan Rail Project

West Africa targets $57b investment, integrated ports, rail sector

The Federal Government has procured two coaches for the Lagos – Ibadan standard gauge railway. The Chairman, Nigerian Railway Corporation, Mallam Ibrahim Al- Hassan, said the coaches were shipped in from China to start passenger services from Lagos to Ibadan ...

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NCAA, NAPTIP Collaborate To Tackle Human Trafficking By Air

NCAA, NAPTIP Collaborate To Tackle Human Trafficking By Air

The Nigerian Civil Aviation Authority (NCAA), has partnered with the National Agency for Prohibition of Traffic in Person (NAPTIP), to collectively tackle the bane of human trafficking via the airports. The Director General (DG) of the NCAA, Capt. Muhtar Usman, ...

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How I Became A Link-Bridge Construction Expert- Ogungbe

By Alphonsus Effi Hon. Yommy Ogungbe is the Managing Director of Prinocc Limited, a construction company specialized in building link bridges. In this interview with MMS Plus newspaper, he explains his journey into the business, narrating the highpoints and challenging ...

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Puzzling Facts, Conflicting Figures, Bane Of Aviation Industry

Puzzling Facts, Conflicting Figures, Bane Of Aviation Industry

Conflicting figures are fast becoming the in-thing in local air travel business, and in-between is the credibility gap. It is often said in the telecommunications sector that data is life. In aviation, life abounds in facts and figures. In fact, ...

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Over 90% Of Seized Tramadol Imports From India – Customs

Over 90% Of Seized Tramadol Imports From India - Customs

* Importers have right to transfer consignments to any terminal By Kenneth Jukpor   Nigeria Customs Service (NCS) has revealed that over 90% of the tramadol seizures recorded in the country recently, came from India.   Customs disclosed this when ...

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Commission seeks compensation for services disruption from Multichoice

Commission seeks compensation for services disruption from Multichoice

The Federal Competition and Consumer Protection Commission (FCCPC), formerly known as Consumer Protection Council, has urged Multichoice, owners of digital satellite television (DStv), to begin moves that will ensure subscribers are compensated for disruption of services resulting from failed, faulty, ...

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NEPC tasks exporters, SMEs on access to AU’s procurement network

NEPC tasks exporters, SMEs on access to AU’s procurement network

Worried about the nation’s inability to benefit from the procurement programmes, despite being a key member of African Union (AU), the Nigerian Export Promotion Council (NEPC), has tasked exporters and entrepreneurs on the need to build capacity, and key into the ...

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Bears retain market hold amid depreciation in bellwether stocks

Investors lose N141 billion in five trading days at Nigerian bourse

The Nigerian Stock Exchange (NSE), resumed trading on a bearish note after the one-day holiday to mark Democracy Day celebration with 0.23 per cent decline on losses in 15 stocks. Specifically, at the close of trading yesterday, the All-Share Index ...

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OPEC projects challenging H2, moves to balance market supply

Oil inches above $60 as U.S. delays tariffs on Chinese goods

• Nigeria’s production still below budget benchmark Organisation of the Petroleum Exporting Countries (OPEC), yesterday, said it faces a challenging second half (H2) of 2019, with demand-dampening trade disputes combining with expected robust non-OPEC supply growth to complicate the producer ...

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