NIGERIA NEWSPAPERS: TODAY'S THE BUSINESSDAY NEWSPAPER HEADLINES [20 MARCH, 2018]


Below are the headlines found on The Businessday Online Newspaper for today, Tuesday, 20 March, 2018.

Tue, 20 Mar 2018
Nigeria's foreign currency reserves is expected to hit $57 billion by year-end, several analysts and a senior official at the central bank told BusinessDay over the weekend. That works out to a 29.5 percent surge from current levels of $44 billion- which compares to South Africa's $50.5 billion reserve and Egypt's $38 billion as of... 

Tue, 20 Mar 2018
MTN Group is moving ahead with plans to list its Nigerian unit, the latest being the recent interviews held with predominantly Nigerian financial advisers over the weekend. Following the interviews held last weekend, MTN will in next ten (10) days appoint the successful advisers to the Nigerian listing, 'they will be predominantly Nigerians firms,' a...

Tue, 20 Mar 2018
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has denied allegations of environmental mismanagement in the Niger Delta levelled against it at the weekend by Amnesty International, reiterating its commitment to swift response to oil spill incidents as much as access and security conditions permit teams to mobilise and deploy to spill sites to... 

Tue, 20 Mar 2018
It is most likely that all 26 research institutes in Nigeria under the aegis of the Joint Research and Allied Institutions Sector Union (JORAISU) are still on strike as you read this piece. This is very unfortunate as one has not heard about any meaningful intervention on the matter by the FG since 2017. The... 

Tue, 20 Mar 2018
The impacts of foreign exchange movements have dealt a blow on Continental Reinsurance Plc's profit despite efficient underwriting performance. For the year ended December 2017, Continental Re's net income dipped by 20.57 percent to N2.47 billion as against N3.11 billion the previous year. The drop in profit was due to a 71.92 percent decline in... 

Tue, 20 Mar 2018
Julius Berger Plc, Nigeria's largest construction firm by market value, has enough cash to fund future expansion plans, pay dividend, and reduce debt. Julius Berger's free cash flow surged to N30.60 billion in December 2017 from a negative figure of N6.98 billion as at December 2016. Prompt payment by customers... 

Tue, 20 Mar 2018
Rocket Internet, the parent company of Jumia, a popular only shopping platform in Nigeria, is reportedly considering withdrawing its investment from the online retail store. According to a Reuters, which cited insider sources, the German start-up investor is exploring a stock market listing of Jumia. Rocket Internet helped in setting up Jumia in 2012 but... 

Tue, 20 Mar 2018
Transcorp hotels Plc has reported a moderate decline in its 2017 financial performance as the six weeks closure of Abuja airport for runway rehabilitation, coupled with the ongoing renovations/expansion at the Abuja Hilton hotels impacted business and in turn its revenues. Despite the headwinds, the hotel, sustained profitability, with a N12.9 billion turnover for the... 

Tue, 20 Mar 2018
Nigerian consumers have been told not to allow themselves to be taken for granted any longer as they should wake up to their rights. The Lagos State Consumers Protection Agency, LASCOPA and the Association of Advertising Agencies of Nigeria, AAAN made this call recently during the Brand Journalists Walk For Consumers Awareness organised by the... 

Tue, 20 Mar 2018
African sovereign have now issued $12.80 billion of Eurobond in 2018 ahead of a United States (US) Federal Reserve rate hike as investors continue to hunt for attractive yields. Ivory Coast sold $2.1 billion of bonds maturing in 2030 with a yield of 5.25 percent and 6.625 percent due in 2048. Egypt raised $4 billion... 

Tue, 20 Mar 2018
Private Equity investment in Nigeria continues to garner momentum, evidenced by a new report from the African Private Equity and Venture Capital Association (AVCA). Overall, the country witnessed 112 Private Equity (PE) deals valued at $7.81 billion between 2012 and 2017, underscoring the potential in Nigeria's investment scale amid a volatile and tough operating environment.... 

Tue, 20 Mar 2018
The nation's currency on Monday maintained gains over the U. S dollars as the Central Bank of Nigeria (CBN), injected another sum of $210 million into the inter-bank Foreign Exchange Market, in its desire to sustain liquidity in the forex market, and thereby ensuring that forex is available for customers' needs in various segments of... 

Tue, 20 Mar 2018
With the declaration of N2.45, N2.4 and 50k dividends per share by Zenith Bank, GTB and Stanbic IBTC respectively, total dividends declared year to date by companies listed on the Nigerian Stock Exchange (NSE) have risen to N213.75 billion, BusinessDay's 2018 Dividend Monitor shows. Announcing the results last week, Zenith Bank Plc, Nigeria's largest bank... 

Tue, 20 Mar 2018
Continental Reinsurance last Friday released its audited financial statement for the full year ended December 31, 2017. Gross premium rose by 32 percent to N29.7 billion compared with N22.4 billion made in 2016. Similarly, net insurance premium revenue trended upward by 6 percent to N23.1 billion in 2017 as against N21.8 billion realised in similar... 
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