Nigeria in 1min: Economic, Business and Financial Headlines – 280619

Friday, June 28, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @AsoRock


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Access Bank 'B and B' Ratings Affirmed; Outlook Stable - S&P Global Ratings affirmed its 'B/B' issuer credit ratings on Nigeria-based Access Bank PLC. The outlook remains stable. We also affirmed our 'ngA/ngA-1' Nigeria national scale ratings on the bank. Source S&P Global Ratings Read More

Manufacturing PMI Stands at 57.4% in June 2019 from 57.8% in May 2019 -  The June 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period June 10-14, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). Source CBN Read More

FAAC Allocates N679.69bn To FG, States, LGs - The Federal Account Allocation Committee, on Thursday shared N679.69 billion among the Federal Government, States and Local Government Councils as federal allocation for the month of May. A statement by the Director, Information, Ministry of Finance, Mr Hassan Dodo,  said the allocation was shared at FAAC’s joint session at the African House, Kano State. Source Punch Read More

NNPC Cautions Against Disruption In Fuel Supply - The Nigerian National Petroleum Corporation (NNPC) has cautioned all stakeholders in the downstream petroleum sector to avoid any act that could undermine the seamless supply and distribution of petroleum products in the country. Source Vanguard Read More 


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SEC Proposes New Rule On Share Transmission And Sundry Amendment To Rule on Annual Report - The following rules were exposed in March 2019. However, due to the inclusion of some comments received from stakeholders and further review by the Rules Committee, there is a need to re-expose the rules to reflect the new amendments for the information of the public. Source SEC Nigeria Read More 


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GUARANTY Notifies of Board Meeting and Closed Period - Pursuant to the post-listing requirements of the Nigerian Stock Exchange for quoted companies, Guaranty Trust Bank Plc hereby informs you that the Board of Directors of our Bank is scheduled to meet on Wednesday, July 24, 2019, to consider the Audited Financial Statements for the half-year ended June 30, 2019. Issues relating to half-year dividend may also be discussed at the Meeting. Source NSE Read More

NSEASI Inches Up By 0.47% As Market Sentiment Turns Positive - Equities market closed today on a positive note, as NSEASI appreciated by 0.47% to close at 29,749.35 points as against 0.20% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.35%. Source Proshare Markets Read More 


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IOD Nigeria Holds 35th AGM, Elects Chief Chris Okunowo as 16th President - The Institute of Directors of Nigeria today held its 35th Annual General Meeting in Lagos, which shortly after the meeting elected Chief Chris Okunowo the previous First Vice-President as the 16th President. Source Proshare Read More

World Bank Spends $4bn On States – Govs - Grants, loans and other assistances worth $4billion have been received from the World Bank by several states of the federation. The Nigeria Governors Forum (NNGF) stated yesterday that the World Bank has spent about $4 billion on projects in various states. Source Leadership Read More

ITC, NEPC Initiative Boosts Women Trade By $4m - The volume of trade by Nigerian women increased by $4m through Shetrades, an initiative of the International Trade Center in partnership with the Nigerian Export Promotion Council. She trades was unveiled in Nigeria in 2016 with the objective of connecting 200,000 Nigerian women to the global market. Source Punch Read More

Uber Plans To Launch Boat Taxis In Nigeria’s Biggest City - Uber Technology Inc. is planning to launch its boat business in Lagos, Nigeria’s commercial capital and biggest city, to beat traffic congestion. The ride-hailing service company is in talks with the Lagos state government and regulatory authorities to start Uber Boats services on its waterways, Uber’s Chief Business Officer Brooks Entwistle said Thursday in an interview. Source Bloomberg Read More


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Facebook's Libra Blockchain May Be Viable Tech Cryptocurrency – Libra Blockchain, a joint effort among payments, technology and other organizations, led by Facebook, represents a step toward a potentially viable cryptocurrency, says Fitch Ratings.  Source Fitch Ratings Read More

Five Facts on Fintech - Since fintech offers the chance to boost economic growth and expand financial inclusion in all countries, the IMF and World Bank surveyed central banks, finance ministries, and other relevant agencies in 189 countries on a range of topics and received 96 responses. Source Tobias Adrian and Ceyla Pazarbasioglu, IMFBlog Read More

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