TOP DAILY NEWS HEADLINES TODAY: 19TH AUGUST 2021

Shippers Council to review shipping documents
Shippers Council to review shipping documents, curb arbitrary charges

THE Management of the Nigerian Shippers Council, NSC, has concluded plans to commence review of international shipping document with a view to curbing excessive charges by shipping companies operating in Nigeria. Speaking at the recently concluded Ministerial Retreat of the Federal Ministry of Transport held in Lagos, Executive Secretary of the Council, Hon. Emmanuel Jime, said the Council intends to conduct a general review of documents used by shipping lines in order to curb the excesses and arbitrariness of the service providers. To read more, click HERE

Shippers Council to review shipping documents
Investors lose N2.4bn amid banking stock sell-off

Investors in the equities market of the Nigerian Exchange Limited lost N2.44bn on Wednesday, a development analysts attributed to the sell-offs of some banking stocks. The NGX All-Share Index dropped marginally by 0.01 per cent to close at 39,545.67 basis points from 39,550.36bps recorded on Tuesday. To read more  click HERE

NGX lists two additional FGN Savings Bonds

Nigerian Exchange Limited (NGX) has announced that the August 2021 issue of the Federal Government of Nigeria (FGN) Savings Bonds were listed on its platform today (Wednesday). The FGN Savings Bond is an investment instrument targeted at retail investors with a minimum subscription of N5, 000. To read more, click HERE

Nigeria’s fiscal deficit hits highest in 21yrs as revenues flop

The Federal Government of Nigeria spent N6.17 trillion more than it earned in 2020, leaving its fiscal deficit at 4 percent of Gross Domestic Product (GDP), the highest in 21 years, according to Central Bank of Nigeria (CBN) data analysed by BusinessDay. The fiscal deficit, which is the difference between expenditure and revenue, widened to… To read more, click HERE

Nigerian exchange closes flat as market capitalization sheds N2.44 billion

GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion , Nigerian Exchange Closes Flat as Market Capitalization Sheds N2.44 billion. The stock exchange market closed flat today, Wednesday 18th August 2021, amidst sell-offs and buy-interests as the benchmark index (ASI) decreased by 1 basis point, while the market capitalization decreased by N2.44 billion.  The NGX ASI closed at 39,545.67 points, to reflect a loss of 0.01% from the previous trading day. To read more, click HERE

FIRS says its 2022 revenue target is N10.1 trillion

FIRS generates N490 billion tax revenue in July, collects 89% from non-oil sector,7.5% VAT: Implementation to begin Feb 1 – FG, FIRS redeploys 50 directors in massive shakeup ,FIRS moves to stop tax evasion with newly launched intelligence system , FIRS boss, Nami discloses why FIRS failed to meet revenue target under Fowler, FIRS to scale up tax compliance with new policies , FIRS tighten noose on deduction of stamp duty, CIT, others , Nigerians will now pay N50 stamp duty on electronic receipts – FIRS, Tax debt payments extended to August 31- FIRS. The Federal Inland Revenue Service (FIRS) says its revenue projections for the year 2022 financial year is N10.1 trillion. This was disclosed by its Chairman, Muhammad Nami while appearing before the House of Representatives Committee on Finance on Wednesday, in Abuja, during a public hearing by the committee on the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). To read more, click HERE

Nigerian Breweries launches plastic recycling project

Nigerian Breweries Plc, Nigeria’s foremost brewing company has launched a plastic recycling project tagged “NB Recycles” among employees as well as its host communities. This initiative is part of the company’s sustainability agenda, tagged – ‘Brew a Better World’ (BaBW). As part of the project, various collection points will be set up in all 9 brewery locations of Nigerian Breweries across the country (as well as the respective host communities) to encourage staff and members of the public to embrace the habit of recycling by returning all plastic bottles, aluminium cans, paper, cartons, nylon, and glass in exchange for monetary rewards. To read more, click HERE

APC announces dates for congress, sales of forms

The All Progressives Congress (APC), has announced September 4, 2021 for its local government area Congresses. This was disclosed by Sen. John Akpanudoedehe, Secretary of APC Caretaker and Extra-ordinary Convention Planning Committee (CECPC) on Wednesday, in Abuja, NAN reports. To read more, click HERE

Computer Village merchants signal higher prices for gadgets, blame CBN forex policy

Nigerians are on course to pay more for electronic gadgets and computer accessories, a recent survey carried out by Nairametrics reveals. This is as findings from the survey showed that importers and dealers in electronic gadgets operating in major markets within the Lagos metropolis expressed scepticism about the prospects of obtaining forex to fund imports from the commercial banks. To read more, click HERE

Naira falls at official forex market as finance minister hints at unified rate

Wednesday 18th August 2021:  The exchange rate between the naira and the US dollar fell to N411.75/$1 at the Investors and Exporters window, where forex is traded officially. Naira fell against the US dollar on Wednesday to close at N411.75/$1, representing a 0.06% depreciation compared to N411.5/$1 recorded in the previous trading session. This also represents the lowest rate in over a month at the official window. In the same vein, naira depreciated at the parallel market to close at N517/$1 on Wednesday. This represents a 0.39% depreciation compared to N515/$1 recorded on Tuesday, 17th August 2021.To read more, click HERE