NIGERIA NEWSPAPERS: TODAY'S THE BUSINESSDAY NEWSPAPER HEADLINES [28 MARCH, 2018]


Below are the headlines found on The Businessday Online Newspaper for today, Wednesday, 28 March, 2018.

Wed, 28 Mar 2018
Nigeria’s apex capital markets  regulator  needs  to  wake  up  to  its  responsibil-ity  following  what  appears  a  classic  “pump  and  dump”  strategy  initiated  in  the  stock  market  by  Milost  Global  Inc,  various  analysts  BusinessDay spoke to say.Securities  and  Exchange  Commission  (SEC)  has  as  part  of  its  roles  to  protect  investors,  particularly  the  retail  investors  who have been reeling from the activities  of  the  purported  US-based private equity firm.Though, SEC said it is moni-toring developments and inves-tigating  affected  parties  which  will  be  followed  by  sanctions,  industry  players  are  worried  by  the regulator’s docile reaction.“The buck stops with the SEC but  it  looks  as  though  they  are  not playing their role and are not asking the right questions about Milost,”  a  source  familiar  with  the matter said.“The  statement  issued  by  Milost  explaining  the  MESA  is  fraught  with  factual  inconsis-tencies and rather than provide clarity of how it works, confused me the more,” the source said of Milost’s  signature  investment  strategy in the Nigerian compa-nies it has showed interest in, a scheme called the “Milost Equity Subscription Agreement.”The  MESA  instrument  is  aimed at funding “undervalued publicly  quoted  companies  all 

Wed, 28 Mar 2018
Ahead of the 2019 elections, former President Olusegun Obasanjo now sits as oracle that may determine victory for candidates and political parties especially the presidential election, a development that seems to suggest why many are flocking to his inspired Coalition of Nigeria Movement (CNM). This disclosure was made by the National Chairman of the National... View ArticleThe post 2019: Obasanjo is Nigeria's political 'oracle', any candidate he supports will win NUP chairman ap 


Wed, 28 Mar 2018
A popular adage says that he who brings home termites-infested firewood should not complain when the lizards pay him a visit. Former Chief of Army Staff, Theophilus Yakubu Danjuma, a retired lieutenant general of the Nigerian Army, is a man reputed for his taciturnity. But the deleterious exigencies facing the nation occasioned by the insidious... View ArticleThe post Herdsmen attacks: Now that Danjuma has spoken appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Contrary to speculations, OPEC's days are far from numbered. While global oil market dynamics may have changed, the Organisation of Petroleum Exporting Countries has proved that it still has a role to play. Crude oil prices fell under $30 a barrel for both Brent and West Texas Intermediate in 2016 prompting the oil cartel to... View ArticleThe post OPEC still has role despite changing global dynamics appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Soji Apampa is a co-founder of the Convention of Business Integrity, which represents Maritime Anti-Corruption Network (MACN) in Nigeria. In this interview with CHUKA UROKO and AMAKA ANAGOR-EWUZIE, he gives an insight into the reform that MACN is carrying out in Nigerian seaports in partnership with the Federal Government steering committees to reduce the propensity... View ArticleThe post We will rate clearance, marine sides of port operations Apampa appeared first on BusinessDay : News you ca 

Wed, 28 Mar 2018
Nigeria's quest for increased market penetration and enhanced contribution to GDP in the nation's insurance industry may not be far away again, given current technological revolutions going on in the market. BusinessDay findings show that there are strategic efforts and investment in technology by insurance companies towards better distribution of products, collection of premium and... View ArticleThe post Technology to trigger higher penetration for insurance appeared first on Busines 

Wed, 28 Mar 2018
SCIB Nigeria & Co. Ltd and their foreign partner, Aon Benfield, a global reinsurance broker with subsidiary in South Africa have reaffirmed their commitment to create more value for their clients in the Nigerian market. Relationship with both companies spanning eight years now, was further strengthened recently when both companies hosted their clients and business... View ArticleThe post SCIB, Aon Benfield seek more value services for Nigeria market appeared first on BusinessDay : News you c 

Wed, 28 Mar 2018
Continental Reinsurance Plc said the consolidated gross premium for the group rose by 32 per cent from N22.4 billion in 2016 to N29.7 billion in 2017 financial period. The company said the increase was mainly driven by strong aggregated growth from its operations in Africa. It noted that the underwriting profit, despite mixed performances at... View ArticleThe post Continental Re gross premium rises 32% appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
One of the largest consumer goods and healthcare firms in Nigeria will pay a juicy bonus to its shareholders. GlaxoSmithKline Nigeria Plc will distribute a N8.52 billion special dividend in 2017, according to information it posted on the website of the Nigerian Stock Exchange (NSE) The payout came on top of N480 million in regular... View ArticleThe post GSK shareholders to get N8.52bn special dividend appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Shehu Mikail, National President, Constance Shareholders Association of Nigeria (CSAN) has declared support for the National Insurance Commission's (NAICOM) directive to insurers to cut their huge management expenses. Mikail told the News Agency of Nigeria (NAN) on Monday in Lagos, that the cut would end unnecessary expenditures embarked on by some insurers as well as... View ArticleThe post Shareholders back NAICOM's directive to insurance operators on huge management expenses appeare 

Wed, 28 Mar 2018
Analysts at ARM Securities Limited have placed BUY ratings on Seplat Petroleum Development Company Plc. (Seplat)'s stocks, citing improved cash flow generation and higher receipt from crude oil lifted from OML 55 as the major reasons for the recommendation. 'Given the foregoing, we see the potential for a strong run up in Seplat's shares over... View ArticleThe post ARM places BUY ratings on Seplat's stocks appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Either consciously or lack of proper guidance, returns on investment (RoI) on vehicles have continued to impact negatively for many vehicle owners and fleet operators out of ignorance on how best to keep their vehicles in good condition. You can go anywhere you want to at any time in the comfort of your four wheels.... View ArticleThe post Depreciation value over irregular auto care appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Continuous retiree engagement has been identified as key in the promotion of the Contributory Pension Scheme (CPS) and the overall success of the pension reforms in Nigeria. The Pension Reform Act 2004 was the institutional basis for pension in both private and public sector of the country. Prior to the reform, the Defined Benefits Scheme... View ArticleThe post How to sustain success of pension reforms Trustfund appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
In line with its commitment to facilitate an effective and efficient integrated transportation system, the Lagos state government has commenced pilot operations at its Ferry terminal at Ipakodo in Ikorodu. With this development, there has been a turnaround renovation of the Ikorodu Terminal to upgrade the facility to a world-class, robust and accessible hub for... View ArticleThe post Lagos moves to revamp water transportation appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Baobab Microfinance Bank Nigeria, a subsidiary of Microcredit Group, a leading financial inclusion group operating across Africa and China has rebranded to unleash potentials of its customers. Formerly Microcredit Nigeria, Baobab as a new identity comes with four commitments to offer simplified services to its customers to allow them to focus on what really... View ArticleThe post Baobab rebrands Microcredit to unleash customers' potentials appeared first on BusinessDay : News you can trus 

Wed, 28 Mar 2018
Deposit money banks borrowed a total of N27.47 trillion from the Central Bank of Nigeria (CBN)'s discount window known as Standing Lending Facility (SLF), in the first half of 2017, showing a deteriorating liquidity condition of the industry. This represents an increase of 440.7 percent over the level of N5.08 trillion borrowed over the corresponding... View ArticleThe post Banks access N27.47trn from CBN's discount window appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
The Central Bank of Nigeria (CBN), deposit money banks, Mobile Money Operators, and Super Agents are to roll-out a 500,000 shared agent network within two years, to deepen financial inclusion in the country. The agreement entails an aggressive rollout of 500,000 agent network within two years to offer basic financial services, such as Cash-in, Cash-out,... View ArticleThe post CBN, Banks others to roll out 500,000 shared agent network appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
The Spark by BusinessDay is monthly magazine inserted in the BusinessDay newspaper. The Spark was created to empower Nigerian youth and create opportunities for aspiring young entrepreneurs. One of the many ways the Spark is encouraging and empowering Nigerian youth, is by providing opportunities for aspiring entrepreneurs to apply for cash grants that will take... View ArticleThe post The Spark empowers Funmi Tuoyo with a cash grant of NGN 100, 000 appeared first on BusinessDay : News you can t 

Wed, 28 Mar 2018
The multilateral convention to implement tax treaty related measures aimed at preventing Base Erosion and Profit Shifting (BEPS) will enter into force on July 1, 2018. This development marks a significant step in international efforts to update the existing network of bilateral tax treaties and reduce opportunities for tax avoidance by multinational enterprises. Base erosion... View ArticleThe post Multinationals to get little opportunities for tax avoidance appeared first on BusinessDay : News 

Wed, 28 Mar 2018
Since the approval of the revised National Tax Policy (NTP), a new air of expectations of a simplified tax compliance regime has been awaited with baited breath. Such expectations has not happened by accident but is rather a culmination of fervent yearnings for a systemic shift to a saner tax regime at all tiers of... View ArticleThe post Prescriptions for an effective tax regime in Nigeria appeared first on BusinessDay : News you can trust. 

Wed, 28 Mar 2018
Self-employed taxpayers have 48 hours to file their Personal Income Tax (PIT) returns for 2017 tax year as provided in Section 41(1) of the Personal Income Tax (PIT) Act. The deadline for filing PIT returns for the 2017 tax year is 31 March 2018. By virtue of Section 41 of PITA, a taxpayer is required... View ArticleThe post Self-employed taxpayers have 24 hours to file PIT returns for 2017 appeared first on BusinessDay : News you can trust. 
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