The decisions of the Monetary Policy Committee (MPC) to reduce the Monetary Policy Rate (MPR) to 11 percent and cut the Cash Reserve Requirement of banks to 20 percent will not automatically translate to economic growth, said economic analysts. Faced with the slow economic growth in the three quarters of the year, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at the end of its meeting on Tuesday decided to relax monetary policy in a bid to boost growth. Consequently the MPC reduced the MPR from 13.0 percent to 11.0 percent; reduced the Cash Reserve Requirement (CRR) from 25.0 percent to 20.0 percent; and fixed the Asymmetric corridor of +2.0 percent and -7.0 percent around the MPR.

Flour Mills Nigeria showed an exceptional rise in profit at the end of its second quarter trading yet it is facing operating pressure that leaves it just one step away from a loss. The company’s 450% rise in after tax profit in the second quarter is an exceptional earnings record in a year of a general corporate earnings lull. With an after tax profit of N24.02 billion at half year, the company has already made about three times the full year profit figure it posted at the end of the preceding financial year.

Acorn Petroleum Plc is set to raise N5 billion through private placement following an approval of the basis of allotment of its Rights Issue by the Securities and Exchange Commission, SEC. The company has during its last AGM obtained approval from its shareholders to raise additional equity by way of Rights to existing shareholders and placement with new investors.

Last week I talked about the technological opportunity the so-called illegal refineries is offering the nation that is being thrown away. There were many Nigerians who felt the same way. But one particular reader suggested a part 2 that should focus on the danger the destruction of tons of illegally refined products is having on the coastal, as well as the entire Niger- Delta region. Federal government law enforcement agents have engaged in an endless battle with crude oil thieves.

The leadership of the All Progressive Congress (APC),weekend dismissed as unfortunate and misleading the claim by the former Deputy Governor, Hon. Peremobowei Ebebi that the former Governor and flag bearer of the party, Chief Timipre Sylva engaged in illegal financial and wasteful spending of over N50billion in two weeks during his tenure as governor of the state.

Sponsorship is the fastest growing form of marketing globally. Therefore the primary reason companies include sponsorship as part of their marketing plans is to increase brand awareness, whether it’s establishing or strengthening the brand, or to change their brand image that subsists.

There is indication that tax revenue may not significantly cushion Federal Government’s impending huge deficit projected for 2016 budget as expected tax revenue in 2016 fiscal year is about N4.5 trillion. According to the projections of the Federal Inland Revenue Services, FIRS, tax revenue growth is around 10 per cent as against expected expenditure growth of over 100 per cent in 2016 fiscal year.

Abuja — Days after the Department of State Services, DSS, warned Nigerians, particularly residents of the FCT, of plots by the Boko Haram terror group to carry out attacks and bombings in market places and religious centers, the Nigerian Army has urged citizens to be extra vigilant and security conscious in tackling insecurity in the country as the Xmas and New Year seasons approach.

Partner, Pricewaterhouse Coopers, PwC West Africa Tax Leader, Mr. Taiwo Oyedele has identified taxation of electronic related businesses as one of the greatest challenges confronting the global economy. Oyedele stated this during a press briefing at the sideline of a forum organised by PwC for tax administrators and other stakeholders on the ease of paying tax in Nigeria.

It is unthinkable that wisdom should ever be popular”, Johann Goethe, 1749- 1832, (VANGUARD BOOK OF QUOTATIONS, VBQ, p 275.) “The Chairman Fiscal Responsibility Commission, Chief Victor Murako, has warned of a possible shutdown by some states of the federation in the next six months unless they find creative ways of handling their dwindling allocations from the federation account.” PUNCH, November 24, 2015. You bet they can; and at least two are technically bankrupt now.

Businessmen and traders of member states of the Economic Community of West Africa States worried by lack of sanctity of contract and respect for the protocol of the community are seeking legal option to settle trade and related dispute among members. They are in agreement that an ECOWAS Court of Justice is a potential forum for the adjudication of trade related regional instruments and are of the view that there is need for advocacy towards the expansion of the jurisdiction of the ECOWAS Court of Justice hitherto limited to human rights to cover trade related issues as part of economic rights.

In a bid to give its employee a voice in the regulatory body and a sense of belonging, the National Insurance Commission (NAICOM) assembled all cadres of its staff to chat ways of improving efficiency, increase revenues and reduce expenses in the coming year. The Commission last weekend gathered its entire rank and file staff from across the nation to Abuja for a two-day retreat in order to put the ideas from the cadres of staff into use ahead of 2016 operation.

To meet Nigeria’s growing need for broadband connectivity, Huawei has disclosed that it was working towards having a stronger radio spectrum, and development of a 4G/Long-Term Evolution network. The mobile phone maker also called for further cooperation among stakeholders to build the Information and Communications Technology ecosystem in Nigeria.

“P innick disclosed that the tenure of the Boards of the Leagues, under which umbrella Kawu became Member of the NFF Executive Committee, has expired.

Prince Abubakar Audu stood on the verge of history. He had been twice governor of Kogi State, and the electoral results showed that he would be elected a third time.