In the news: NSE’s market capitalization depreciates
| Punch
House probes TCN’s $1.5bn, $500m foreign loans The House of Representatives has queried loans totaling $1.5bn taken from foreign creditors by the Transmission Company of Nigeria. World Bank: We’re on the same page with FG on borrowing The World Bank says it is not in disagreement with the Federal Government on the need to borrow to finance infrastructure. Agip pushes ahead with 150,000bpd refinery plan The Nigerian Agip Oil Company, a subsidiary of Italian oil major, Eni, said it had begun feasibility studies for the construction of a new 150,000 barrels-of-oil-per-day refinery in the Niger Delta. Intels: Reps ask NPA to reverse contract termination The House of Representatives on Wednesday asked the Attorney-General of the Federation/Minister of Justice, Mr. Abubakar Malami, and the Nigerian Ports Authority to reverse the termination of the logistics contract between Intels Nigeria Limited and the NPA. NSE suspends trading on Oando shares The Nigerian Stock Exchange on Wednesday has said that it has suspended trading in the shares of Oando Plc from October 20, 2017. This Day Customs Revenue Fraud: N140bn Recovered From Erring Firms, Banks, Says Senate C’ttee The Senate Joint Committee on Customs, Excise and Tariff and Marine Transport has disclosed that about N140 billion has been returned to the coffers of the government by firms and banks found culpable in its investigations into revenue leakages in the Nigeria Customs Service. Kachikwu, Baru Meet Osinbajo on Zabazaba Oil Field, Other Industry Issues Away from the raging controversy over contract award and appointments in alleged breach of due process, the Minister of State for Petroleum, Dr. Ibe Kachikwu and Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, wednesday met Vice President Yemi Osinbajo in the State House, Abuja. FG Cautioned on Use of Corporate Tax Incentives to Achieve Projects Implementation The Civil Society Legislative Advocacy Centre (CISLAC) has cautioned the Federal Government to avoid institutionalizing a policy of granting long-term tax incentives to corporate businesses to achieve project implementation. Telcos Challenge NCC to Lead Mobile Money, Cashless Initiative Telecommunication Operators (Telcos) have called on the Nigerian Communications Commission (NCC) to take urgent steps to lead the mobile money and cashless initiative in Nigeria. Guardian NSE’s market capitalization depreciates further by N9.7b Transactions on the trading floor of the Nigerian Stock Exchange continued on a downturn trend yesterday, as virtually all the blue chip companies depreciated in price, resulting to a further decline in market capitalization by N9.7 billion. NBET pays N10.8b to Gencos for electricity delivered in July Nigerian Bulk Electricity Trading Plc. (NBET) has paid the Electricity Generation Companies (Gencos) the sum of N10.825 billion out of the total invoices of N45.24 for the energy delivered in July 2017. The Nation The Nigerian Liquefied and Natural Gas (NLNG) Limited has, in the past six years, paid $4.1billion in taxes, including Company Income of Tax (CIT), to the Federal Government. Business Day Indigenous oil firms step up production by 200% in June Sixteen Nigerian indigenous oil producers who operate in partnership with international oil companies called independents, accounted for over 7.486 million barrels of crude oil in June. |
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