NIGERIA NEWSPAPERS: TODAY'S THE BUSINESSDAY NEWSPAPER HEADLINES [7TH FEBRUARY, 2018]


Below are the headlines found on The Businessday Online Newspaper for today, Wednesday, 7th February, 2018.



Wed, 07 Feb 2018
Access into the major economic gateways, Apapa and Tin-Can Island seaports by motorists, commuters and port users, has again become a hard nut to crack as the traffic gridlock into the Apapa port city, worsened in the past few days, without any hope in sight. This comes as the management of the Nigerian Ports Authority... 

Wed, 07 Feb 2018
Industry regulator, the National Insurance Commission (NAICOM) has identified consumer relationship behaviours with service providers, including underwriters and intermediaries that undermine service efficiency and compliance. The commission pointed that its responsibility to give adequate protection to the consumer is weakened, when the consumer does not play according to the rules guiding the contract of insurance.... 

Wed, 07 Feb 2018
Nigeria's insurance industry, like many other countries of the world are looking to take advantage of micro insurance to deepen penetration and protection gap among consumers, who do not buy into conventional products, either for reason of cost or cultural believe. This led to the recent release of micro insurance guideline by the insurance regulator.... 

Wed, 07 Feb 2018
Retirement period is a time when we quit active service. It is a phase of our lifetime that has its own starting point, but unfortunately nobody knows the end point. The value of a prudent plan has never been more critical than it is today- as the economy is volatile and uncertain, the savings rate... 

Wed, 07 Feb 2018
The 82 percent slump in the valuation of Lagos-based e-commerce company, Konga, to $35 million from as high as $200 million, particularly stands out after an outright acquisition by Zinox, an integrated Information Communication Technology (ICT) solutions conglomerate. The 81 percent naira devaluation against the US dollar perhaps offers the best possible explanation for Kongas... 

Wed, 07 Feb 2018
The time has arrived for private equity (and venture capital) investment to begin to flow into certain strategic segments of the Nigerian Entertainment and Media sector, according to Olumide Mustapha, a media and entertainment attorney. Gold mine Entertainment and media (E&M) is a gold mine of a business that is equally precarious in the most... 

Wed, 07 Feb 2018
Financial services holding company, Atlas Mara Ltd, increased its stake in Nigerian lender, Union bank to 48 per cent, following a recent rights offering by the latter. Atlas Mara fully subscribed to the rights related to its established 44.5 per cent holding and also acquired through the issue a further 3.5 per cent stake in... 

Wed, 07 Feb 2018
As the exchange rate volatility that saw the naira surrender half its value against the dollar in 2016 cools, the business case for Nigeria is perhaps steaming hot. In this interview, senior members of the private equity team of Lagos-based legal powerhouse, Udo Udoma and Belo Osagie (UUBO), talked to Lolade Akinmurele on recent trends... 

Wed, 07 Feb 2018
The Insurance Industry Consultative Council (IICC) has promised to collaborate with the Media in realising its objective of creating a positive image for the insurance industry. IICC noted that the media is a critical partner in the growth of the industry, emphasizing the need for more collaboration in areas of training and education for better... 

Wed, 07 Feb 2018
Rating agency Fitch questions whether the reinsurance market can sustain the rate rises seen at the January renewals throughout 2018 and beyond, as long as capital levels, including from insurance-linked securities (ILS) players, in the sector remain high and excess capacity is there to be deployed. Reinsurance softening continues, price floor elusive 'Intense market competition... 

Wed, 07 Feb 2018
Businesses that want to reduce incidences of downtime in their operation over power challenges, has a model in MainOne Data Center also known as MDXI which has disclosed that it has achieved almost 100 percent uptime availability. Gbenga Adegbiji, general manager, MDXI said that the company has been able to attain this level with over...

Wed, 07 Feb 2018
CourierPlus Services Limited, a wholly owned Nigerian Logistics Company has entered into a strategic franchise partnership with Priority Express Services (PES) to deliver courier and logistics services to corporate organisations, government agencies and individuals in Ghana. Operating out of Accra, Ghana's capital, both companies will collaborate to provide efficient services within one of Africa's booming... 

Wed, 07 Feb 2018
Electronic Commerce (e-Commerce) is to be a new branch of study at the Rivers State University (RSU), formerly University of Science and Technology (UST), in Port Harcourt boosted by the Heritage Bank Managing Director, Ifie Sekibo. The CEO has also risen to the occasion to provide needed facilities at a newly unveiled electronic library at... 

Wed, 07 Feb 2018
Arik Air is resuming its Garden City Express which enables customers to fly direct to the heart of Port Harcourt City from MMA2 terminal in Lagos. The daily flight service which commences on February 12, 2018 will depart from Murtala Muhammed Airport Terminal 2 (MMA2) Ikeja, Lagos and arrive at the Nigeria Air Force (NAF)... 

Wed, 07 Feb 2018
The President, Abuja Chamber of Commerce and Industry, Adetokunbo Kayode, said the economic and diplomatic ties between China and Nigeria had impacted positively on both nations. Kayode said this at the annual reception by the Chinese Economic and Commercial Counselor, Zhao Linxiang, in Abuja. He said in a statement by Mr Gena Lubem, Media and... 

Wed, 07 Feb 2018
Deposit Money Banks (DMBs) profit increased by more than 60 percent in the last one year, mainly driven by increases in interest income. Banking sector net interest income is the difference between the revenue that is generated from a bank's assets and the expenses associated with paying out its liabilities. Yahaya Shehu, a member of... 

Wed, 07 Feb 2018
The Central Bank of Nigeria (CBN) and the UK Trade and Investment have endorsed the Business Continuity Management System (BCMS) and the Information Security management System (ISMS) Certification of Fidelity Bank plc. The 22301 BCMS was developed to protect companies from the risks associated with downtime, which could occur due to unexpected disruptions or disasters.... 

Wed, 07 Feb 2018
Nigeria's currency market maintained stability as the Central Bank of Nigeria (CBN) on Monday injected another $210 million, which helped shore up the value of the naira. The apex bank intervention was part of measures to ensure the availability of forex and also meet customers' requests in various segments of the market. Figures obtained from...

Wed, 07 Feb 2018
A consumption tax is essentially a tax on the purchase of a good or service. It may take different forms such as sales taxes, tariffs, excise or other taxes on consumed goods and services. It has the distinct feature of not penalizing savings unlike income taxes. Consumption tax is charged in different forms in several... 

Wed, 07 Feb 2018
The Nigerian Voluntary Asset and Income Declaration Scheme (VAIDS) which is expected to last for nine months after its take-off on July 1, 2017 will end on March 31, 2018. The Scheme which is a nine-month tax amnesty given to every Nigerian especially the high net worth individuals (HNIs) covers the whole array of taxes.... 
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