In line with its mandate of bringing liquidity into the mortgage market, the Nigeria Mortgage Refinance Company (NMRC) has concluded plans to refinance N10 billion mortgages in the market this month. Prof. Charles Inyangete, CEO, NMRC, disclosed this at a Public Awareness and Capacity Building Workshop organised by the company in Lagos.

Access Bank Plc shareholders have unanimously approved the N5.7billion dividend proposed by its Board of Directors for the financial year ended December 31, 2014, just as they commended the management of the bank for its prudent management of cost of operations. The shareholders at the bank’s Annual General Meeting, AGM held in Lagos appreciated the Board of Directors for the proposed dividend which translates to 60 kobo per share, including the 25 kobo interim dividend.

Shareholders of Nigerian Breweries, NB Plc are expected to approve N27.7 billion dividend that would be proposed by the Board of Directors of the company at the forth coming 69th Annual General Meeting, AGM of the company. The Managing Director/CEO, Nigerian Breweries Plc, Mr. Nicolaas Vervelde at a pre AGM Press briefing in Lagos disclosed that the Board of Directors of the company would propose N27 billion dividend ( (translating to N3.50 per share ) to the shareholder at the company’s 69th AGM that would hold next week Wednesday in Lagos.

The inability of prospective homeowners to readily come up with the required equity contribution on mortgages has been identified as one of the factors slowing down the process of mortgage origination in Nigeria, Financial Vanguard investigation has revealed. It also partly explains the nation’s huge housing deficit of more than 17 million homes.

Standard Chartered Bank has forecast that Nigeria is likely to raise capital from the international debt market by the second half of the year, 2015 to meet some of its obligations. It also stated that Nigeria’s weakening fiscal buffers as a result of the sustained low oil price may result to a current account deficit in the country’s balance of payments this year.

Kenya’s regulator has introduced new takaful (Islamic insurance) rules which will allow the entry of conventional players into the sector, part of efforts to boost capital markets in East Africa’s biggest economy. Takaful is seen as a bellwether of consumer appetite for Islamic finance products. It is based on the concept of mutuality; the takaful company oversees a pool of funds contributed by all policy holders.

An Orsu Chief Magistrate court, presided over by Mr. G. C. Okoli, has issued a warrant of arrest on the former Managing Director of Nigerian Breweries, Eze Festus Odimegwu, for allegedly refusing to appear before the court to answer charges bordering on conspiracy and stealing levelled against him.

Governor Emmanuel Uduaghan of Delta State has charged the nation’s leaders to embark on a value re-orientation in the country so as to unlock the vast potentials of the country.

The organizations making the payments are required to withhold tax from such payments and pay over the withheld amounts to their respective relevant Tax Authorities within 30days of receipt of payment or credit by the person or entity suffering the Tax. The relevant tax authorities to receive the WHT tax transactions made by companies is FIRS and for individuals and unincorporated bodies subject to Rules of Residence is SIRS or FIRS.

Experts in the aviation sector have decried the inability of most airlines operators to effectively use the Performance Based Navigation (PBN) due to lack of adequate experiences and knowledge on the part of the operators. They however argued that even though the PBN was a new phase in the aviation industry, that for it to be effective and fully operational in the aviation industry, it was expected that operators should be well grounded in it with a lot of experiences.