Today’s Business Day Newspaper Headlines Wednesday 16th January 2019

Today’s Business Day Newspaper Headlines, Wednesday 16th January 2019

DisCos’ woes worsen as Tesla eyes Nigeria’s power sector
Wed, 16 Jan 2019
United States electric carmaker Tesla has introduced in Nigeria batteries that can power homes and businesses, which could worsen the pathetic situation of electricity distribution companies (DisCos) currently veering dangerously close to insolvency. Dissatisfied customers, especially industrial consumers who provide the big cheques to DisCos, may replace the back-up function they are currently relying on []The post DisCos’ woes worsen as Tesla eyes Nigeria’s power sector appeared firs
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Private jets, charter operators gain from election campaigns
Wed, 16 Jan 2019
There is an appreciable increase in the number of private jets and charter aircraft currently operating in Nigeria as a result of ongoing election campaigns and depleting fleet size for commercial airlines. BusinessDay’s checks show that Nigeria’s eight commercial airlines which altogether had over 70 aircraft on their fleet are currently struggling with about 30 []The post Private jets, charter operators gain from election campaigns appeared first on BusinessDay.
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Pricing, significantly a concern as insurers face 2019 renewals
Wed, 16 Jan 2019
Going into 2019, an election year and when passage of the budget may likely be delayed for many reasons, pricing of insurance by operators will determine significantly how the industry performs at the end of the year. If the operators shun unhealthy competition in pricing, the industry will be able to surmount the challenges that []The post Pricing, significantly a concern as insurers face 2019 renewals appeared first on BusinessDay.
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MFBs not connected to a switch is a barrier to financial inclusion
Wed, 16 Jan 2019
That most Microfinance Banks (MFBs) are not connected to a switch, raising processing time and costs of operation, is a barrier to achieving the financial inclusion target. Being connected to a switch is about making transactions for one bank to another through connecting platform such as the Nigeria Inter-Bank Settlement System (NIBSS) and Interswitch, among []The post ‘MFBs not connected to a switch is a barrier to financial inclusion’ appeared first on BusinessDay.
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Still on SMEs and non-disbursement of facilities
Wed, 16 Jan 2019
The Central Bank of Nigeria (CBN) recently made public its frustrations with the slow pace of disbursement of the many intervention funds dedicated to the SME sector, especially the one meant for agribusiness. Much of the fund hasremained with the central bank where it is domiciled for on-lending to operators. In order to fast track []The post Still on SMEs and non-disbursement of facilities appeared first on BusinessDay.
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Corporate governance systems as dynamic institutions
Wed, 16 Jan 2019
The appropriateness of existing models of corporate governance which firms adopt in achieving their mission is being questioned for its inadequacies in reducing agency problems. Increasingly, there are calls for the adoption of a dynamic model of corporate governance given its inherent nature that might help overcome the problems and limitations of agency approach used []The post Corporate governance systems as dynamic institutions appeared first on BusinessDay.
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Beyond Brexit: Nigeria wants a new trade deal with Britain
Wed, 16 Jan 2019
In August this year, Prime Minister Theresa May visited Nigeria. She spoke about increasing investment opportunities, a new trade deal and economic partnership, tackling human trafficking, and assistance to bolster the rule of law and the fight against organiSed crime. All of this is extremely welcome, and indeed necessary.Unfortunately for Mrs. May, the government that []The post Beyond Brexit: Nigeria wants a new trade deal with Britain appeared first on BusinessDay.
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Nigerian microfinance banks roll out agency banking in response to increased competition
Wed, 16 Jan 2019
The Central Bank of Nigeria (CBN) in December 2018 announced its plan to launch a National Microfinance Bank (MFB) in collaboration with the Bankers’ Committee and the 774 local Nigerian Postal Services offices. The presence of new countrywide MFB and recent mergers between existing banks are steadily increasing competition for Nigerian MFBs. To continue growing []The post Nigerian microfinance banks roll out agency banking in response to increased competition appeared first on BusinessDay.
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Insurers see challenges ahead as 2019 election draws closer
Wed, 16 Jan 2019
Operators in the business of risk management are not unaware of the challenges that this election year will pose on business, even as analysts have predicted that risks are high for investors in all fronts. Eddie Efekoha, president, Chartered Insurance Institute of Nigeria (CIIN) in his New Year Message to insurance professionals in Nigeria said []The post Insurers see challenges ahead as 2019 election draws closer appeared first on BusinessDay.
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Nigeria projected to maintain policy rate as global trends worry major central banks
Wed, 16 Jan 2019
Nigeria has been projected to maintain its current monetary policy rate of 14 percent at the end of 2019, according to Bloomberg economists, as major central banks remain skittish of global trends. In an analysis conducted by Bloomberg, based on the median estimates of the latest monthly or quarterly survey and recently collected forecasts, only []The post Nigeria projected to maintain policy rate as global trends worry major central banks appeared first on BusinessDay.
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Nigeria Customs generates over N3.1trn revenue in three years
Wed, 16 Jan 2019
The Nigeria Customs Service (NCS) said it generated about N3.1 trillion in revenue into Federation Account in the last three years. Joseph Attah, National Public Relations Officer of Customs, told the News Agency of Nigeria (NAN) in Abuja on Tuesday that the revenue was generated between 2016 and 2018. A breakdown of revenue generated by []The post Nigeria Customs generates over N3.1trn revenue in three years appeared first on BusinessDay.
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Buhari presides over emergency FEC meeting on minimum wage bill
Wed, 16 Jan 2019
President Muhammadu Buhari is currently presiding over an emergency meeting of the Federal Executive Council (FEC), at the Council Chambers of the Presidential Villa, Abuja The meeting which commenced at about 3.05pm is aimed at fine tuning the arrangements for forwarding a Bill on the National Minimum Wage to the National Assembly for consideration and []The post Buhari presides over emergency FEC meeting on minimum wage bill appeared first on BusinessDay.
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Market infraction: 13 complaints against stockbroking firms still unresolved
Wed, 16 Jan 2019
National Council of the Nigerian Stock Exchange (NSE) may have done much in line with its zero tolerance policy on regulatory infractions, as evidenced in increasing level of compliance by dealing members, but efforts towards resolving the pending complaints against dealing member firms will be a plus. In 2017, the NSE carried out 267 enforcement []The post Market infraction: 13 complaints against stockbroking firms still unresolved appeared first on BusinessDay.
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Nigeria misses out as Emerging Market assets rally
Wed, 16 Jan 2019
Emerging Markets have had a strong start to 2019, even as Nigeria continues to miss the rally. The Nigerian Stock Exchange (NSE) has lost 4.6 percent since the end of 2018, which is the biggest drop globally after Serbia and Romania, according to data compiled by Bloomberg. Nigeria’s local bonds have returned 0.4 percent in []The post Nigeria misses out as Emerging Market assets rally appeared first on BusinessDay.
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Stakeholders converge on Abuja for Financial Literacy Confab
Wed, 16 Jan 2019
National Financial inclusion stakeholders in Nigeria, led by the Central Bank of Nigeria (CBN), will converge on Abuja on Thursday, January 17 and Friday, January 18, 2019, for the launch of key policy documents aimed at facilitating the attainment of the financial inclusion target of 80 per cent by 2020. Policy documents to be unveiled []The post Stakeholders converge on Abuja for Financial Literacy Confab appeared first on BusinessDay.
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