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


Below are the headlines found on The Businessday Online Newspaper for today, Wednesday, 21 March, 2018.

Wed, 21 Mar 2018
Rear Admiral SAG Abbah, the Flag Officer Commanding (FOC), Western Naval Command of the Nigerian Navy, is under pressure to end his good work of effectively managing the traffic and insecurity menace in Apapa and its environs, BusinessDay has learnt. At  a  stakeholders  meeting  held  in  Lagos  on  Tuesday  in-volving  representatives  of  the  International  Oil  Companies  (IOC),  truck  drivers  and  truck  owners,  Pipelines  and  Product  Marketing  Company  (PPMC)  and top hierarchy of the Nigerian Navy  including  Rear  Admiral  SAG  Abbah,  who  decongested  Apapa,  it  was  complained  that  truck operators at the ports and oil majors were facing difficulties getting  their  trucks  and  trailers  into the port and tank farms. BusinessDay  understands  that the purpose of the meeting was  not  to  attack  the  officers  of  the  Nigerian  Navy  for  the  good work they are doing in managing the traffic menace in Apapa, but to negotiate on a better way to man-age  the  movement  of  trucks  and  trailers  without  hindering  busi-ness  activities  at  both  the  ports  and oil tank farms.  It  was  believed  that  the  top  hierarchy  of  the  Nigerian  Navy  has some very good ideas on how to end the inefficiency at the port, which  elongates  the  turnaround  time  of  trucks  calling  at  the  na-tion’s seaports.Before  now,  businesses  and  commuters  including  residential  owners have been having trouble accessing Apapa port city, follow-ing  the  traffic  congestion  on  the  roads leading to Nigeria’s busiest seaports,  Apapa  and  Tin-Can  Island ports.As  a  result,  there  was  an  in-crease in man-hour loss on Apapa roads  due  to  the  bad  traffic  situ-ation  such  that  commuters  were  left with the only option of either making  use  of  one-way  (driving  against  traffic)  or  spending  over  four to five hours on the road, just to have access into Apapa.  There  are  over  200  tank  farms  with  thousands  of  trucks  waiting  to  load  petroleum  products,  add-ing  to  the  gridlock  for  a  port  that  handles  more  than  60  percent  of  Nigeria’s cargo and generates some 70 percent of customs revenue.In  2017,  duties  from  Ports  to-taled  more  than  N1  trillion  ($2.8  billion)  up  from  just  under  N900  billion the previous year.The  gridlock  was  largely  due  to poor management of traffic on roads leading to Apapa as drivers of  trucks,  oil  tankers  and  other 

Wed, 21 Mar 2018
Jim Ovia will earn N12billion as total dividend income from Zenith Bank Plc in the 2017 financial year. The bank's shareholding analysis shows Ovia as the Chairman/Non-Executive Director of Zenith Bank Plc directly owns 2.94billion or 9.38 percent of Zenith Bank Plc shares while he indirectly own 1.59billion units of the bank's shares. The Board... View ArticleThe post Zenith Bank puts N32bn dividend income on table for Ovia, Stanbic nominees appeared first on BusinessDay : News you ca 

Wed, 21 Mar 2018
As the Federal Government 31 March deadline for enforcement of Voluntary Assets and Income Declaration (VAID) draws closer with affected tax payers struggling to comply, insurers under the umbrella body of the Nigerian Council of Registered Insurance Brokers (NCRIB) have demanded for fiscal responsibity. Fiscal responsibility implies a government pursues the appropriate level of government... 

Wed, 21 Mar 2018
Motor Third Party Insurance for private vehicles is N5, 000.000 and anything less than N5, 000 is fake'so, don't buy. The benefit of having a third party insurance policy is huge because it protects against third party damage. This means that in the event of an accident occurring, the policy holder has a third party... 

Wed, 21 Mar 2018
There is a pressing need for continuous education and enlightenmentto enable successful take-off of the much-expected micro pension initiative in Nigeria. While, the release of guideline by the National Pension Commission (PenCom) is being awaited,a consistent and strategic stakeholder engagement is critical. This will help build the needed relationship, trust and make marketing of the... 

Wed, 21 Mar 2018
International Monetary Fund (IMF) has welcomed the structural reforms currently being implementation by the Federal Government, declaring that the Nigerian economy is exiting recession as a result of these measures. The IMF reached this conclusion following its executive directors consultative meeting with key members of the government's economic team including finance minister, Kemi Adeosun; budget... 

Wed, 21 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... 

Wed, 21 Mar 2018
Despite an increase in its loss to $151.9 million from $142 million in 2016,Texas Houston based Erin Energy poised for growth as the company has acquired capital assets with a view to propel future earnings. The Oil and gas exploration and production company, which maintains its listing on the New York Stock Exchange (NYSE) and... 

Wed, 21 Mar 2018
Contrary to a Bloombergs report claiming that Milost Global Inc plans to invest $1bn in Unity Bank Plc, the Bank has unequivocally stated that it has not reached any agreement with Milost to warrant such speculation. We categorically dismiss media claims of any such deal and advice the public to disregard any information to the... 

Wed, 21 Mar 2018
Global money week ended on Sunday March 18, 2018 with some deposit money banks dedicating their time and resources to engage school children and youth on financial literacy. The Global Money Week is an annual global celebration, initiated by Child and Youth Finance International (CYFI), with local and regional events and activities aimed at raising... 

Wed, 21 Mar 2018
The market capitalisation of the Nigerian Stock Exchange (NSE) on Tuesday depreciated further by N57 billion in spite of N10.50 per share dividend declared by Dangote Cement. The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N14.969 trillion, dipped N57 billion or 0.38 per cent to close at N14.912 trillion....

Wed, 21 Mar 2018
More than 110 countries and jurisdictions have agreed to review two key concepts of the international tax system, responding to a mandate from the G20 Finance Ministers to work on the implications of digitalisation for taxation. The members of the OECD/G20 Inclusive Framework on Base erosion and profit shifting (BEPS) will work towards a consensus-based... 

Wed, 21 Mar 2018
Anyone can hold the helm when the sea is calm' ' Publilius Syrus Governor Akinwunmi Ambode had famously promised in 2015 when he assumed office: 'I shall run an open government of inclusion that will not leave anyone behind. No matter your age, sex, tribe or any other status. As long as you reside in... 

Wed, 21 Mar 2018
Aeta Publishers Nigeria Limited has released the 35th edition of the Tax Law Report of Nigeria (TLRN). The edition of the Tax Law Report of Nigeria (TLRN) comes with a succinct review and full report of Judgments and Rulings delivered by our courts on tax matters. Some of the tax matters include: Constitution ' whether... 
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