Thursday, April 08, 2021
Survey: 47% of Financial Services’ Organisations Do Not Have Tax Policy
A recent PwC Nigeria survey has revealed that 47 per cent of tax functions in Nigeria’s financial services (FS) sector, either do not have a tax strategy or they are not aware of one. The respondents to the survey were senior level executives from various sub-sectors in Nigeria’s financial services industry. The survey polled the major industry players in financial services, including banking, insurance, and pension fund custodians. Read more
Bird Flu Outbreak in Kano Affects 223,695 Chickens in 40 Farms
The Kano State branch of the Poultry Farmers Association of Nigeria has decried the loss of over N500 million following the outbreak of Avian Influenza also known as bird flu in the state. Speaking with journalists in Kano yesterday, the Chairman of the association, Mr. Umar Kibiya Usman, said they had incurred huge losses in the recent outbreak of the virus. Read more
Nigerian Breweries Advises Shareholders to Embrace Script Dividend Option
The Managing Director of Nigerian Breweries Plc, Mr. Jordi Borrut Bel, has said called on shareholders to embrace the script dividend option proposal offered by the company because of its many benefits. Nigerian Breweries Plc has recommended a dividend of N7.7 billion for its shareholders for the 2020 financial year. However, the company also gave shareholders the option to receive additional shares instead of cash dividend. Read more
World Bank to address Nigeria, poor countries’ debt overhang
The President, World Bank Group, Mr David Malpass, said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens. He said this while responding to questions at the press conference at the 2021 spring meeting on Wednesday. Read more
The Central Bank of Nigeria on Wednesday said it got an order from the Federal High Court, Abuja division, to freeze 11 bank accounts to enable it conduct investigations into suspicious activities. It disclosed this in two documents posted on its website on Wednesday. Read more
Pensioners may picket airports over payment disparity
The Nigerian Union of Pensioners, Federal Airports Authority of Nigeria branch, has concluded plans to embark on a nationwide protest with effect from May 4, 2021 should FAAN management fail to implement new payment agreement. National Secretary of NUP, FAAN branch, Emeka Njoku, at a rally held at the local Airport Ikeja on Wednesday said the management of FAAN had bluntly refused to implement Conditions of Service as reached by the committee set up by FAAN over disparity in salaries. Read more
DLM Capital Group acquires MfB
DLM Capital Group, a developmental investment bank on Wednesday said it planned to expand its operations into the fintech sector following its acquisition of Links Microfinance Bank. During a virtual event, it said the licence would give DLM Capital Group the mandate to operate small scale banking services in Nigeria. This would also allow the successive launch of its digital lending brand, Sofri, in the second quarter of the year, it stated. Read more
‘Regulator should license MTN, Airtel to deepen mobile money’
To scale up Nigeria’s mobile money market to at the sub-regional front, the Central Bank of Nigeria (CBN) should extend licences to MTN and Airtel. The Head of GSMA Africa, Akinwale Goodluck, said this during a virtual interaction with some journalists at the weekend, to dissect the recently-released ‘State of the Industry Report on Mobile Money’. Read more
Passenger traffic declines by 74% over COVID-19 restrictions
Passenger traffic demand has declined by 74.7 per cent globally as countries mount various travel restrictions to check coronavirus new variants. The International Air Transport Association (IATA), in the latest figures released yesterday said the decline, compared to pre-COVID February 2019, was worse than the 72.2 per cent slump recorded in January 2021. Read more
