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NIGERIA NEWSPAPERS: TODAY'S THE BUSINESSDAY NEWSPAPER HEADLINES [31 JANUARY, 2018]


Below are the headlines found on The Businessday Online Newspaper for today, Wednesday, 31 January, 2018.

Wed, 31 Jan 2018
Questions were raised over the integrity and independence of Nigeria's apex capital market regulator, the Securities and Exchange Commission (SEC). This is as conflicting narratives emerged yesterday from Kemi Adeosun, Minister of Finance, and the suspended Securities and Exchange Commission (SEC) Director General (DG), Mounir Gwarzo at the opening of the one-day investigative public hearing... 

Wed, 31 Jan 2018
Having experimented the Market Development of Restructuring Initiative (MDRI) in the past eight years (from 2009-2017) with awareness creation, the promoter, National Insurance Commission (NAICOM) said its focus in the second phase will be collaboration with other sister regulatory agencies; enhanced market distribution channels and financial inclusion. Mohammed Kari, commissioner for Insurance speaking at a... 

Wed, 31 Jan 2018
Lagos State is inching closer to commencing the implementation of its 2018 budget of N1.046 trillion, as the Lagos State House of Assembly, Tuesday, passed the appropriation bill. BusinessDay gathers that the state governor, Akinwunmi Ambode, will in a matter of days, assent to the bill to complete the process of giving it legal backing... 

Wed, 31 Jan 2018
Insurance companies that were underwriting micro insurance products before the recently released revised guideline on micro insurance scheme by the National Insurance Commission (NAICOM), has been given 18 months to get microinsurance license or unbundle existing covers and transfer to other firms having the new license. According to the Commission, efforts to make existing insurance... 

Wed, 31 Jan 2018
Underwriting firm, Linkage Assurance Plc in collaboration with the Niger Delta University (NDU) has commenced moves to harness exceptional talents for the nation's insurance industry. The effort is targeted at giving opportunities to students of insurance, actuarial and financial management as well as those in mathematics and engineering sciences to make career in insurance and... 

Wed, 31 Jan 2018
Investors are betting on the ability or capacity of the management of Stanbic IBTC Holding Plc to use their assets in generating more profit or returns. This is because Stanbic IBTC Holdings has the strongest price-to-book ratio, which measures the stock price against the value of assets minus liabilities. The lender's stock has been rallying... 

Wed, 31 Jan 2018
Swiss Re has a foot print in Nigeria(holding 25 percent equity in Nigeria's Leadway Assurance). Just as it has in India, and both markets share in the need for increased expertise. Can Nigeria benefit, as did India recently' Reinsurance giant Swiss Re's Global Business Solutions division in India recently signed a memorandum of understanding (MoU)... 

Wed, 31 Jan 2018
Global banks are shifting priorities to digitisation, innovation and growth, citing cybersecurity as a major priority in 2018. According to the EY Global Banking Outlook 2018 released to BusinessDay, 85 percent of banks cite implementation of a digital transformation program as a business priority for 2018. The banks tap investment in technology to drive efficiency... 

Wed, 31 Jan 2018
Deposit money banks showed strength, beating other sectors in the equities market in 2017, according to a report by Afrinvest Securities Limited. Given the resilience demonstrated by the banks amidtougher operating conditions, the banking index was unsurprisingly the best performing sector in 2017, up 73.3 percent. Performance of the banks remained driven by resilient earnings,... 

Wed, 31 Jan 2018
Cummins Power Generation Nigeria Limited, leading power generating firm says its leadership is committed to keep operation going at the 16 gas fired power plants (100MW capacity) across Nigeria. The projects is the largest off grid Independent Power Producer (IPP) in Nigeria. The company observe that the recent national grid fall has made obvious the... 

Wed, 31 Jan 2018
As the Federal government intensifies effort to diversify the economy, the Nigerian Export Promotion Council (NEPC) is considering the option of adapting the Malaysian model as part of strategic collaboration to promote Nigeria's export trade. The Acting Executive Director of NEPC, Sidi-Aliyu, Abdullahi disclosed this while receiving in his office a delegation from Performance Monitoring... 

Wed, 31 Jan 2018
Crude oil price gained more momentum on the news that OPEC and non-OPEC oil producers planned to extend their cooperation indefinitely. In addition, weak dollar and a record streak of declines in American spare supplies of crude are helping to propel the oil prices. January 2018 is shaping up to be the best January for...  

Wed, 31 Jan 2018
The Standard Organisation of Nigeria (SON) has moved to adopt the International Organisation for Standardisation (ISO) 37001 as a new mode in business engagements in Nigeria,which would also assist it in fighting corruption through proper standardisation. Speaking in Abuja on Monday, the Director General of SON, Osita Aboloma while speaking on the adoption the ISO... View ArticleThe post SON adopts International standard for new business engagements model appeared first on BusinessDay : News you 

Wed, 31 Jan 2018
Over the past two years, the bulk of the Lagos State government revenue has been spent on capital expenditure, specifically physical and social infrastructural development. In 2017, 54 percent of the state's income was voted to infrastructure; in 2016, it was 58 percent and for 2018, a massive 67 percent capital expenditure is proposed. Such... View ArticleThe post Infrastructure deficit in Lagos: How taxation can help appeared first on BusinessDay : News you can trust. 

Wed, 31 Jan 2018
As the volume of imported items coming into the nation's seaports continue to pick up due to gradual recovery of Nigeria's economy, about 33 ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin-Can Island ports in Lagos fromJanuary 29 to February 19. The Nigerian Ports Authority (NPA)... View ArticleThe post Import volume stable as 33 ships head to Lagos ports appeared first on BusinessDay : News you can trust. 

Wed, 31 Jan 2018
The National Insurance Commission (NAICOM) on Monday said that the commission was currently leveraging on Governors Forum to enable more Nigerians to get insurance. The Deputy Commissioner for Insurance (DCFI), Mr Sunday Thomas, annou8nced this to the News Agency of Nigeria (NAN) at a seminar in Benin. The seminar, with the theme, 'Expanding Frontiers for... View ArticleThe post NAICOM collaborates with state governments on insurance appeared first on BusinessDay : News you can trust. 

Wed, 31 Jan 2018
Two months to end of the Voluntary Assets and Income Declaration Scheme (VAIDS) designed to shore up government non-oil revenue by growing the tax base and ensuring tax compliance, taxpayers and other stakeholders would need to play conscious role to make this effective. VAIDS is an initiative designed to encourage voluntary disclosure of previously undisclosed... View ArticleThe post VAIDS ends two months today, how to sustain its relative success appeared first on BusinessDay : News you can tr 

Wed, 31 Jan 2018
Barley two year ago, the Organisation for Economic Co-operation and Development (OECD) finalized the project on Base Erosion and Profit Shifting (BEPS) aimed at fixing international tax loopholes that collectively cost countries up to $240billion of forgone revenue which is about 10 percent of the global corporate tax revenue. Base Erosion and Profit Shifting refers... View ArticleThe post Strengthening tax treaties to fight tax avoidance appeared first on BusinessDay : News you can trust. 

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