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Basic facts about Lagos’ land use charge

Gov Ambode

The Lagos State Land Use Charge (LUC) is a consolidation of all property and land based rates and charges payable under Lands Rates, Neighborhood Improvement Charge and Tenement Rates Laws of Lagos State. The Land Use Charge derives its legitimacy from the Land Use Charge Law No. 11, of 2001. It was designed to help the government generate additional revenue needed to develop the state in the light of increasing demand for provision of urban and rural infrastructure and other expenditure.

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AG Leventis set to raise fresh fund, engages foreign investors

There are indications that AG Leventis Plc will soon raise fresh capital to boost its business and turn around its dwindling performance occasioned by the economic meltdown. The Executive Vice Chairman/ Chief Executive Officer AG Leventis, Michael Economakis confirmed to Vanguard that plans are underway for the company to inject fresh capital given the present low economic activities in the country.

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Mr. Lukman Otunuga

Naira vulnerable to further losses in future – FXTM

The global markets have been flung onto a chaotic rollercoaster ride in 2016 as the ongoing concerns over slowing global growth, depressed oil prices and persistent Brexit uncertainties have weighed heavily on investor sentiment. Stock markets started the year pressured, but have been surging higher on hopes of potential stimulus measures while risk aversion continues to keep Gold buoyed.

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Terminal operators lost N58.9bn in earnings in 10 years – Report

As the nation’s economic fortune continues to dwindle, Nigerian ports have recorded drops in the cargo throughput for the first quarter of this year, an indication that less volume of goods was imported into the country within the period. There are also, indications that the second quarter may record further drop in the ports’ activities. The drop in gross tonnage was also reflected in the revenue generation drive of the Nigeria Customs Service as the agency also suffered deficit of more than N100 billion for the first half of the year.

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Counterfeit naira

Sanitising Nigeria’s $35bn remittance market to boost forex inflow

From an unprecedented high of N412 per dollar in the first week of August, the parallel market exchange rate dropped to N393 per dollar last week. The N19 appreciation for the local currency, which had depreciated by about 36 per cent this year, was prompted by increased dollar supply occasioned by the directive of the Central Bank of Nigeria (CBN) that banks should sell proceeds of international money transfer (IMT) to bureau de changes (BDCs).

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farm produce

Nigeria’s agro allied industry: A starting point for the entrepreneurial revolution

As part of former President Umaru Yar’Adua’s Seven Point Agenda for economic revival and accelerated growth, the commercial Agriculture Credit Scheme (CACS) was launched. It was designed to provide concessionary funding to small farmers through credit guarantees and interest draw back support. Initial outlay for the scheme stands at a respectable $1.4 billion, to be disbursed through participating commercial banks.

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Standard Chartered set to enhance investment for economic growth in Africa

Standard Chartered Bank Nigeria Limited has disclosed plans of the group to enhance investments and leverage its unique footprint and international banking expertise to drive growth in Nigeria and other African countries. Through a new brand campaign, ‘Here for Africa’, the bank has stated its commitment to investing in Africa’s future, and continuing to support key growth sectors across local economies, including infrastructure, telecommunications, transport, retail and trade.

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NAICOM suspends bancassurance partnerships in Nigeria

The National Insurance Commission (NAICOM) has suspended bancassurance partnership deals between insurance companies and banks indefinitely, following a dispute with the Central Bank of Nigeria. Commissioner for Insurance, Alhaji Mohammed Kari made this known at the investiture of Mr. Eddie Efekoha, Managing Director of Consolidated Hallmark Insurance, as the 20th Chairman of the Nigerian Insurers Association.

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Emefiele CBN Governor

N80bn unclaimed dividends: Banks, registrars to appoint e-dividend champions- SEC

As part of measures to address the rising trend of unclaimed dividends in the nation’s capital market, which has hit the N80 billion mark, banks and registrars have been mandated by both the Central Bank of Nigeria, CBN and the Securities and Exchange Commission, SEC to set up e-dividend champions in their respective institutions.

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Jim Ovia

Zenith Bank best competition, ranks high in asset quality, cost savings

When in 2004, the CBN asked Nigerian banks to put in place a management succession plan, many banks did not take it seriously. Zenith Bank in its usual proactive approach to banking puts in place a team of high caliber managers. One of the third generations of managers Zenith Bank lined up in its succession plan, who took over from Godwin Emefiele now CBN Governor is Peter Amangbo. He has steered the financial ship of Zenith to higher levels. The bank has continued in its tradition of excellence to deliver superior results even in the most challenging business environment.

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Goodluck Jonathan Estate in Abuja. (Credit Channels)

London house prices lost £1,000 daily in July

A survey has pointed to a dip in house prices in the wake of the EU referendum, with the capital recording one of its biggest month-on-month declines. Estate agents, Haart, said prices in London fell £1,000 a day last month, or 5.6 per cent, from £558,760 to £527,349. The drop across the country was a more modest 0.9 per cent to £233,254, according to reports, in line with the one per cent slide found by Halifax in its latest index.

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Lagos, FG to partner on affordable housing for civil servants

The Lagos State Government and the Office of the Head of Service of the Federation have commenced partnership talks aimed at providing affordable housing for Federal and Lagos State civil servants. Head of Service of the Federation (HOSOF), Mrs. Winifred Oyo-Ita, disclosed this while leading a technical delegation to Governor Akinwunmi Ambode at the Lagos House in Ikeja.

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