EFCC, SPIPRPP grill Adeosun over untoward activities as finance minister
BY OUR REPORTERS
February 11, 2019
By our Reporters In what appears to be an unfolding subtle probe into the tenure of former finance minister, Kemi Adeosun, business a.m. has been told by reliable sources close to the development, that she was forced back to the country two weekends ago to respond to some untoward issues pertaining to her time […]
FIRS shifts focus in 2019 to 85,000 millionaires defaulting in tax payment
Nse Anthony-UkoFebruary 9, 2019
Nigeria’s tax collection body, the Federal Inland Revenue Service (FIRS) said it will go after an estimated 85, 000 millionaires currently on its watch list for tax evasion and default this year. Tunde Fowler, executive chairman of the FIRS sounded this warning when he received Mohammed Adamu acting inspector general of police, (IGP) who paid […]
CBN rolls out anti money laundering/terrorism finance manual for its employees
Moses ObajemuFebruary 8, 2019
By Moses Obajemu The Central Bank of Nigeria (CBN) has rolled out an anti-money laundering/terrorism financing manual which contains policies and procedures to guide its employees and the apex bank itself to conduct business in accordance with the applicable anti money laundering laws and regulations. According to the CBN, the objective of the manual is […]
Bulls maintain firm grip on stock market, as index soars
Adesola AfolabiFebruary 7, 2019
The bulls continued their firm hold of the stock market during trading today, with bargain hunting in heavy weight banking stocks and few other bellwethers contributing to a sustained growth in the All Share Index (ASI) which rose by 2.0 percent to settle above 31,000 basis points on Thursday. The ASI improved further as share […]
MTN Nigeria to gradually introduce shares to Nigerian investors
Adesola AfolabiFebruary 7, 2019
MTN Nigeria has indicated that it is ready to list on the Nigeria Stock Exchange (NSE) by way of introduction by the first half of this year. Listing by introduction indicates that the company may likely be mandated to sell on the first day of listing and then can start selling gradually to interested investors, […]
The biggest bank merger in a decade comes as industry faces ‘tough’ growth outlook
Businessam StaffFebruary 7, 2019
The banking industry is heading into a difficult environment of slimmer margins and a slower economy and that’s why lenders are teaming up, analysts said. On Thursday, BB&T announced it will buy SunTrust Banks for $28.24 billion in an all-stock deal, or a 7 percent premium of $62.85 per share. The merged company will be […]
Oil slips as investors weigh up supply factors
Businessam StaffFebruary 7, 2019
Oil fell on Thursday after data showing a rise in U.S. inventories weighed on sentiment already rattled by the global economy, though prices were buoyed by the prospect that supply could fall short of global demand. Brent crude oil futures were last down 50 cents, or 0.8, at $62.19 a barrel by 1310 GMT. U.S. […]
Headline inflation to slow in January on tightened disposable income
Adesola AfolabiFebruary 7, 2019
Nigeria’s headline inflation is being projected to slide by 0.09 percent to 11.35 percent in January. This projection by analysts at Financial Derivatives Company is hinged on empirical findings of disposable income typically falling in January due to the exigencies of Christmas and payment of school bills. The National Bureau of Statistics (NBS) is expected […]
House of Reps probes PENCOM, vows to protect N8.9tr assets
Businessam StaffFebruary 7, 2019
The House of Representatives has started investigations into the activities of the National Pension Commission (PENCOM) from April 2017 to date. This followed alleged violation of the Act establishing the commission. The investigation began on Thursday in Abuja with a public hearing organised by an adhoc committee of the House. The Speaker of the House, […]
World shares go weak as data disappoints, dollar extends power surge
Businessam StaffFebruary 7, 2019
Mounting global growth worries thrust share markets into reverse on Thursday, while the dollar scored its longest winning run since a hot streak in early October that helped trigger a wave of worldwide ‘bear’ markets. Some poor earnings and weak data out of Germany ensured most of the main bourses were lower and kept MSCI’s […]