Business54 Videos

‘VAT increase will pressure stock price, reduce patronage’

Capital market experts have faulted the proposed upward review of Value Added Tax (VAT), saying its implementation would further depress stocks’ price and increase transactions cost in the bourse. Already every purchase or sale of shares by stockbrokers to investors attracts five per cent VAT as commission on the Nigerian Stock Exchange (NSE). Operators, who […]

AMCON seeks reintroduction of Failed Bank Act

Worried by the resurgence of huge toxic loans in the banking sector, the Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru, yesterday, in Lagos, called on the financial regulators to revisit the Failed Bank Act, to make bankers accountable for their actions. He equally urged banks to immediately strengthen […]

MTN IPO to be executed in two phases amid row with FG

The long-awaited listing of the shares of South Africa-based, mobile network provider, MTN, will now be executed in two phases for better value, which will commence at the end of the second quarter or at the latest early third quarter.The phased listing, which will not be as big and extensive as initially anticipated, is to […]

IMF moves against early retirement in developing nations

The International Monetary Fund (IMF), has warned developing nations to be wary of early retirement and attendant effect on the economy. This is as IMF has projected at least two per cent rise in the global Gross Domestic Product (GDP) of cost of public pensions by 2050. According to the world monetary body, many emerging […]

South Africa central bank still sees 2019 growth at 1.7 pct

South Africa’s central bank still expects the economy to grow by 1.7 percent this year and 2 percent in 2020, governor Lesetja Kganyago said on Wednesday after the latest fourth-quarter data showed an annualised growth of 0.8 percent. Kganyago said rising fuel and electricity prices posed a domestic risk to the inflation outlook, while the […]

NSE set to list 30-year FGN Eurobond

The Nigerian Stock Exchange (NSE), will on Thursday, March 7, list 5 tranches of the Federal Government (FGN) Eurobond. They include; 7.143%, 12-Year, $1.25billion FGN Eurobond; 7.696%, 20-Year, $1.25billion FGN Eurobond; 7.625%, 7-Year, $1.118billion FGN Eurobond; 8.747%, 12-Year, $1billion FGN Eurobond; and 9.248%, 30-Year, $750million Eurobond under the auspices of Nigeria’s newly established Global Medium […]

FG boosts financial inclusion with TraderMoni

With over 23 million Nigerians financially excluded, the introduction of TraderMoni by the Federal Government in conjunction with Bank of Industry could not have come at a better time. According to a 2018 World Bank report, 6% of Nigerian adults use a mobile money account; this is small compared to 21% in sub-Saharan Africa overall. […]

CBN governor restricts forex for textile products

Central Bank of Nigeria (CBN) Governor Godwin Emefiele yesterday described as wicked his alleged removal from office. He insisted that he had not received any memo from the presidency directing him to leave. Emefiele debunked the rumour yesterday in Abuja at a stakeholders’ meeting with textile manufacturers and cotton farmers where he announced the inclusion […]

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