Read today's newspaper headlines [Thursday, February 2, 2017]

THE GUARDIAN NEWSPAPER

Stockbroker’s N10 billion scandal rocks stock market

Industry regulators are currently struggling to restore investors’ confidence in the capital market, following what stakeholders described as poor handling of infractions and enforcement of discipline among operators.

FG approves new national tax policy, sets up panel on rising food prices

The Federal Executive Council (FEC) has approved a new National Tax Policy for the country. The policy is expected to guide the operation and review of the nation’s tax system and provide the basis for future tax legislation and administration.

Foreign reserves hit $28b, CBN warns banks over failed settlements

Nigeria’s foreign reserves have grown to $28.12 billion, according to the latest figures from the Central Bank of Nigeria (CBN) for January 2017. The reserves fell to $23.95 billion in October 2016, stoking fears among foreign investors on the country’s ability to settle dollar-denominated obligations in the midst of falling crude oil prices.

VANGUARD NEWSPAPER

RECESSION: Foreign investment inflow down by $4.5bn in 2016

There were indications that foreign investors largely shunned Nigeria’s economy in 2016 as foreign investment inflow dipped by $4.52 billion to $5.12 billion, the lowest in nine years, according to data released, yesterday, by the National Bureau of Statistics, NBS.

Okorocha should keep quiet when serious govs are talking — Obiano

THE verbal war between Governor Rochas Okorocha of Imo State and his Anambra State counterpart, Chief Willie Obiano, took another dimension yesterday, with Governor Obiano telling Okorocha to keep quiet when serious governors are talking because he (Okorocha) has nothing to offer.Onnoghen: Presidency warns against blackmail, says Buhari has done nothing wrong

THE Presidency, Wednesday has warned some Nigerians against capitalizing on the delayed transmission of the name of Acting Chief Justice of Nigeria, Walter Onnoghen to the Senate to blackmail President Muhammadu Buhari.

THE NATION NEWSPAPER

Buhari’s power sector revival pill sparks crisis

More than one year after the African Development Bank (ADB) approved $174 loan to tackle Nigeria’s power crisis, the cash remains in the lender’s vaults.

Fed Govt sets up panel to bring down food prices

The Federal Executive Council (FEC) yesterday set up a committee, which will suggest ways of reducing food prices. The committee is expected to submit a report to the Council next Wednesday.

Forex trading: CBN to suspend defaulting banks for eight weeks

The Central Bank of Nigeria (CBN) has tightened its operational guidelines on foreign exchange (forex) trading among banks and other authorised dealers.

THE PUNCH NEWSPAPER

Arms cash: Obanikoro returns N30m, to pay N417m

A former Minister of State for Defence, Senator Musiliu Obanikoro, has returned a fresh sum of N30m to the Economic and Financial Crimes Commission, with a promise to pay a balance of N417m, The PUNCH can confirm.

FG to raise VAT on champagne, other luxury items

The Federal Executive Council on Wednesday approved the revised National Tax Policy. The policy will see the Value Added Tax on luxury items, like champagne, increasing from the current five per cent, among other changes.

Worst leadership is in the church, says Adeboye

The General Overseer of the Redeemed Christian Church of God, Worldwide, Pastor Enoch Adeboye, has said there is dearth of good leadership in the country, adding that the church is the worst hit.