International Maritime Organisation may sanction Nigeria over waste dumping by ships in the country’s territorial waters. It was learnt that the ship owners have continue to dump residue unchecked by the regulatory agency, Nigeria Maritime Administration and Safety Agency (NIMASA).

The bearish trend in the Nigerian capital market continued to bite harder, as only ten stocks, Wednesday, recorded share price gain, while the value of listed equities, represented by the market capitalisation, dropped by 162.36 billion.

Following calls by the Nigerian Stock Exchange (NSE) and other stakeholders in the Nigerian capital market on the need for banks, insurance companies and other quoted companies to reconstruct their shares to manageable level, an expert in the Nigerian capital market, Mr. Tunde Adeyemi, has called on the regulatory authorities to adopt an industry-based capital restructuring approach in this regard.

Cornerstone Insurance Plc has indicted insurance brokers for hijacking most of the businesses without remitting the fund due to insurance companies.

The Vice President of Alitheia Capital, Mr. Andre Wenger, has said that Nigeria’s share of the $50m fund pledged by the organisation for microfinance institutions in Ghana and Nigeria would be spent in providing start-up capital, assisting transforming NGOs and help grow microfinance institutions so as to attract more foreign grants.