The Nation Newspaper Today Headline Wednesday 11th May 2022
The Nation Newspaper Today Headline and news Dailies Update on current affairs happening now in Nigeria today 11/05/22
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Ortom to Miyetti Allah: we’ll meet in court
Benue State Governor Samuel Ortom has insisted that the law banning open grazing in the state is irrevocable. He also told the Miyetti Allah Kautal Hore that he is prepared to meet them in court for any legal battle. The Secretary-General of the group, Saleh Hassan, at a briefing in Abuja on Monday, threatened that
Niger Speaker seeks legislators’ return to Assembly
The Speaker of the Niger State House of Assembly Abdullahi Bawa Wuse has expressed his desire to see a substantial number of legislators return to the Assembly after the 2023 elections. Wuse, who stated this while welcoming the Legislators back from the Ramadan and Sallah break yesterday, stated that the reason for his desire for
UACN seeks N20b new capital for short-term finances
Nigeria’s oldest company and conglomerate, UAC of Nigeria (UACN) Plc is seeking to raise up to N20 billion in new debt capital as the conglomerate continues to deepen value accretion across many sectors of the economy. UACN is offering 90-day and 181-day commercial papers (CPSs) with yield of between eight per cent and 8.25 per
MTN Nigeria raises N127b short-term capital
MTN Nigeria Communications (MTN Nigeria) Plc has raised N127 billion new debt capital, placing the telecoms group in better position to diversify its capital funding. MTN Nigeria yesterday listed two commercial paper issuances worth N127 billion on the FMDQ Securities Exchange, completing the fund raising cycle for the issuances. the two issuances were under MTN
Honeywell Group, Flour Mills highlight benefits of merger
Honeywell Group plans to consolidate its investment portfolio and harness fully the benefit of the recent merger of its flour milling subsidiary with Flour Mills of Nigeria Plc. Flour Mills had acquired 71.69 per cent stake in Honeywell Flour Mills at a total enterprise value of N80 billion. Managing Director, Honeywell Group, Mr. Obafemi Otudeko,
Nigeria’s policy environment not conducive for investors, says SEC
Director-general, Securities and Exchange Commission (SEC), Mallam Lamido Yuguda has decried Nigeria’s policy environment as a disincentive to investors. Yuguda stated this when a team from the Nigerian Economic Summit Group (NESG) visited the Commission in Abuja. He said the capital market can actually do more in the areas of provision of necessary infrastructure for
‘Telco sector remains robust’
The telecommunication sector remains robust and there is no threat to its profit margin. A review by Cordros Group concluded that without downplaying the impact of rising smartphone and broadband penetration, a faster replenishment rate for data bundles has contributed to the rapid expansion in data revenue in the past three years. “In our view, this
Pension complaints and solutions
and info@pencom.gov.ng Phone: 08117340360 ANNONYMOUS: Sometime last year l applied for payment of additional lumsum of 2.5 per cent, 7.5 per cent and 10 per cent increase by the President to federal pensioners. Surprisingly, nothing has been done to that effect. My PFA, Premium Pension. They said we should sign an empty template which
63,728 RSA holders dump PFAs
No fewer than 63,728 employees who are under the Contributory Pension Scheme (CPS) have dumped their their Pension Fund Administrators (PFAs), citing poor service. This led to the transfer of N226.96 billion since the commencement of the Retirement Savings Account (RSA) transfer system last year. The National Pension Commission (PenCom) stated this in a document
Universal Insurance set for N10b recapitalisation
Universal Insurance Plc may soon join the firms that have met the new capital base of N10 billion ordered by the National Insurance Commission (NAICOM), the Managing Director/Chief Executive Officer of the company, Benedict Ujoatuonu, has said. He spoke at the April edition of the Nigerian Council of Registered Insurance Brokers’ (NCRIB) Evening sponsored by
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