SHAREHOLDERS and capital market operators have advised Director General -designate of the Securities and Exchange Commission ( SEC), Arunma Oteh to be focus in moving the market forward, just as they pass vote of confidence in her ability to lead the Commission.

THE Federal Government (NCS) has introduced a uniform import duty rate on imported vehicles based on ex-factory price. This development has taken effect in all Customs commands, a development that now eliminates the indiscriminate imposition of duties.

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.

THE managements of the Nigerian Ports Authority (NPA) and the Grimaldi (operators of the PTML Terminal) group are currently at logger heads over the repairs of bad port access roads following the incessant loss of lives and properties as a result of containers falling of f trucks.

The newly appointed Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Mr. Temisan Raymond Omatseye has said that professionalisation and modernisation of the Agency will be the core value of his administration.

THE Indigenous Shipowners Association of Nigeria (ISAN) has gone to court to enforce the provisions of the cabotage law which restrict the operations in Nigerian waters to vessels owned, crewed and built in the country to local ship-owners.

Auditors have thrown their weight behind the Centra Bank of Nigeria (CBN)’s new policy guidelines for a uniform accounting year_end for banks, saying it will curb doctored reports and interbank lending in the financial sector. They said “Uniform Year End for banks is good.

The shallow nature of the port in Calabar is affecting the revenue collection of the Nigeria Ports Authority (NPA) and that of Calabar command of the Nigeria Customs Service (NCS), the Chairman, Presidential Task Force on Customs Reform, Dr Mohammed Bello has said.

BGL Plc have called on the Federal Government to increase the assets allocation of pension fund in stocks from the current 25 per cent to 40 per cent in order to boost activity in the capital market.

As part of efforts targeted at improving bilateral relationship between South Africa and Nigeria, the South African Ambassador to Nigeria has called on Nigerian investors and financial institutions to expand their operations and activities to South Africa in order to take advantage of the vast opportunities present in the region.

The bearish trend recorded in the Nigerian capital market, continued Tuesday, as the value of listed equities on the Nigerian Stock Exchange (NSE) dipped by N108.02 billion.