Nigerian equities traded almost on the balance last week as first-half earnings renewed investors’appetite for quoted shares. Benchmark indices at the Nigerian Stock Exchange (NSE) showed a marginal drop of 0.003 per cent last week, leaving the average year-to-date return almost unchanged at -11.17 per cent. The All Share Index (ASI)- the common value-based index […]

Investors could pay about N2.5 billion yearly as additional costs on transactions, following the Federal Government’s resumption of Value Added tax (VAT) collection on stock market transactions. Investors would pay an average of N2.49 billion yearly or N207 million monthly, based on transactions in the past two years. A five-year VAT exemption granted to the […]

THE Federal Government has initiated a legal process for a permanent takeover of an  account, which it believes  the Nigerian National Petroleum Corporation (NNPC) is operating without its knowledge. The First Bank of Nigeria (FBN) account has a balance of over N53 billion as at January (2019) ending. In the documents filed before the Federal […]

WEMA Bank Plc has announced N2.61 billion Profit Before Tax (PBT) in its half-year unaudited results for the period ended June 30, 2019. The result is a significant increase from N1.81 billion posted in 2018. Commenting on the results, the banks Managing Director/Chief Executive Officer Ademola Adebise, said: “The financial performance of the bank in […]

Operators in the insurance and pension industries have partnered the National Union of Road Transport Workers to introduce the Passenger Manifest Scheme. Under the scheme, all passenger vehicles under NURTW would begin the use of its unified and secured manifests nationwide with effect from August to ensure that all drivers and passengers’ information were digitally […]

The Federal Government, through the Nigerian National Petroleum Corporation, spent a total of N851.38bn ($2.79bn) on joint venture oil and gas assets in the first five months of 2019. The government has said it will reduce its stakes in the JV assets to 40 per cent this year but no time frame has been announced. […]

The Nigerian National Petroleum Corporation on Sunday announced that the Army Engineering Corps was set to demolish illegal structures erected along the Port Harcourt-Aba-Enugu-Makurdi oil pipeline corridor. The NNPC condemned what it called “flagrant and dangerous’’ violation of its pipeline right-of-way by some individuals and communities along the corridor of the system 2E pipeline network, […]

The pensioners of the Federal Airports Authority of Nigeria have given the management of the agency 14 days to address the withdrawal of some of their benefits or face industrial unrest. The pensioners, under the aegis of Nigeria Union of Pensioners, alleged that the new management stopped the emoluments which they had enjoyed for the […]