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NSE switches on Nasdaq SMARTS Market Surveillance Technology

nse-oscar

Nasdaq and Nigerian Stock Exchange (NSE) has launched a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution. In a statement issued on Monday and emailed to Business Hilights, the Exchange said “The technology will, amongst other things, enable NSE to proactively monitor market manipulation (including spoofing and layering), detect and deter manipulative tendencies, gather intelligence, carry out ...

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Lagos importers’ case for demurrage waiver over Wharf road closure, valid—BH Analysis

Port Access Road

Background: Relying on the report commissioned by Akintola Williams Deloitte on impacts of bad port access roads and mainly Wharf road since they became impassible over the years, importers and Nigerian shippers sent as much as N668.5 million daily on demurrage due to the bad state of the Wharf road. Now, if demurrage upon the bad road without the partial ...

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Gov. Ganduje opens up on how commerce in Kano’ll look if Igbos leave

kano Gov

The Executive Governor of Kano State, Dr. Abdullahi Ganduje, has agreed that Kano would seize to be known as the commercial nerve centre of the north should Igbos leave. Explaining issues during a sympathy visit of Abia State Governor, Dr. Okezie Ikpeazu, over the death of Danmasanin Kano, Alhaji Maitama Sule, Ganduje  blamed regional elites for the ongoing agitations by ...

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Nigerians divided on FT’s analysis of Buhari’s economic policies in 2 years

Adeosun Buhari

Since the last week’s tailored analysis of Nigeria’s economy under President Muhammadu Buhari by David Pilling, Africa editor of Financial Times of London, suggesting that the economy is becoming worse than the current administration met it, Nigerian economic pundits who spoke to our correspondents have shown a sharp division in their submissions. Pilling had presented near convincing analogy, with a ...

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Revealed: Fuel import differentials may push pump price to over N145 soon

Ibe K

Facts and figures from National Bureau of Statistics (NBS) have shown that the Nigeria’s downstream petroleum industry lost about N884.8 million in seven days to the high cost of importing Premium Motor Spirit (PMS), also known as petrol, resulting from a differential of N3.16 per litre. Otherwise, with Nigeria’s petrol consumption put at 40 million litres per day, Nigeria lost ...

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‘Adeosun’s doublespeak on FG’s borrowing plan, danger to economy, investors’

Kemi Adeosun

The confusion started Tuesday this week when during a conference, the vocal Minister of Finance, Mrs. Kemi Adeosun said the federal government has foregone all pending borrowing plans to stick to internally generated revenue (IGR) and oil sales against the backdrop of Nigeria’s rising debt profile. However, on Thursday, the same Minister reversed herself and said the country has no ...

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Kachukwu opens up, agrees falling oil price’ll hit 2017 budget bad

Ibe Kachikwu

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu on Thursday in Abuja, agreed that the combined forces of emerging crash in crude oil price to about $42.5 per barrel and the likelihood of Nigeria being forced to join other members of Organisation of Petroleum Exporting Countries (OPEC) in ongoing cut in oil production will definitely affect the 2017 national ...

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NASS under pressure to cancel ongoing e-Auction of seizures by Customs

nass complex

Indications have emerged from the National Assembly (NASS) that any moment from now, the lawmakers may be compelled by barrage of complains to halts the ongoing e-auctioning of seized goods and mainly vehicles by the Nigerian Customs Service (NCS). A credible source at the NASS confided in Business Hilights that both chambers, especially the Senate have been receiving series of ...

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2017 budget in real danger if Nigeria can’t borrow again as oil cut looms

Udoma, Buhari, Adeosun

Putting it in perspective; First of all, the Organization of Petroleum  Exporting Countries (OPEC) on July 24 will decide whether Nigeria and Libya will join other 12 member nations in observing oil production cut as part of the cartel’s effort to maintain good global oil price. Secondly, if the decision goes contrary to the hope of the government which is ...

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Tin Can Customs rakes in N130bn in 6 months, says feat within target range

Customs Ali 33

The Nigeria Customs Service (NCS), Tin-Can Island Command, Lagos, has generated N130 billion between January and June, 2017 and noted that the haul is within the range of half year target. In a telephone interview, the Public Relations Officer of the command, Mr. Uche Ejesieme, averred that the command met set target within the period under review, explaining that the ...

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