Nigeria in 1min: Economic, Business and Financial Headlines - 051021

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Tuesday, October 05, 2021 / 6:18 AM / By News Aggregator / Header Image Credit: Akinwumi Adesina

 

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   COVID-19 Health Updates

  • 4th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 206279 cases (New: 141)
  • Discharged: 194,167
  • Deaths: 2,723 (New: 0)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Administration of Stamp Duties in Nigeria - Concluding Part - It is the right of the taxpayer to seek the opinion of the Commissioner of stamp duties as to the amount of duty chargeable or payable on his instrument. When a person seeks the opinion of the Commissioner as to the amount of the duty chargeable. Source CITN Read More

Without Data, Nigeria will Lack Policies to Address Socio-Economic Challenges - Yemi Kale - Data remains a critical tool for supporting policies addressing socio-economic challenges like poverty and unemployment in Nigeria. Dr. Yemi Kale, the immediate past Statistician-General of the Federation and Director-General of the National Bureau of Statistics (NBS), made this point while expressing his views on "Data and Economic Development in Nigeria". Source Ottoabasi Abasiekong for WebTV Read More 

Nigeria Serviced Debt with N1.47tn First Half 2021 - DMO - Nigeria spent N1.47tn on debt servicing payments in the first half of 2021, data obtained from the Debt Management Office have shown. Source Punch Read More

COVID-19: World Bank Approves $11.5bn for Nigeria, Others - The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations. The World Bank said this in its 'Annual Report 2021: From crisis to green, resilient, and inclusive recovery'. Source Punch Read More

South-South Governors to Join Suit Against FIRS on VAT Collection - Governors of the south-south region say they have resolved to join the suit challenging the Federal Inland Revenue Service (FIRS) on the collection of value-added tax (VAT). Ifeanyi Okowa, governor of Delta and the chairman of the south-south governors' forum, disclosed this on Monday, after the forum's meeting in Rivers state. Source TheCable Read More


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PROSHARE MARKETS

UBA H1 2021 Audited Result: Bottom line Sunny as Loans and Advances Rise - UBA's year-to-date (YTD) share price movement showed a negative return of -13.87% as of 29th September 2021. the stock traded at its highest between January and February; it tanked to its lowest in March 2021. Source Adaeze Nwachukwu, Proshare Research Read More

Guinness Nigeria's FY 2021 Audited Result: Revenue Rises on the Back of Growing Costs - Guinness Nigeria has recovered from the fatal blow dealt to its bottom line during 2020's pandemic that eliminated dividend payouts in 2020. Its liquidity position also improved significantly during the session evidenced by favorable liquidity ratios and a remarkable rise in cash and cash equivalents by +580.65% in 2021. Source Iyioluwabomi Onakoya, Proshare Research Intern Read More

Investors Gain N14.45bn as NSEASI Inches Up by 0.05% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.05% to close at 40,243.05 basis points as against +1.59% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -0.07%.  Source Proshare Markets Read More

NAFEX Rate Depreciated by 0.16% WoW to N413.14 from N412.48 - In the FX Spot and Derivatives markets, the total turnover for the week-ended September 30, 2021, was $1,392.46 million, representing a decrease of 12.13% ($192.25 million) from $1,584.71 million reported for the week-ended September 24, 2021. Source FMDQ Read More

Access Bank Dangles Fresh US$500m Eurobond Issue, Oversubscribed by 200% - Access Bank has issued its third offering of US$500m Additional Tier 1 (AT 1) Eurobond Offer as part of a broad USD1.5bn funding Programme. The offer was at a coupon pricing of 9.125% with an over 200% order book subscription which peaked at over US$1bn. Source Adaeze Nwachukwu, Proshare Research Read More

 

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PROSHARE BUSINESS

AXA Mansard Improves its Online Experience with its New Chatbot, Nikki - AXA Mansard Insurance Plc, a member of the AXA Group and global leader in insurance and asset management, has announced the launch of its new "chatbot" named Nikki to provide a better, faster and more convenient transactional experience for its online customers. Source AXA Mansard Read More

17th IoD Nigeria President, Dr. Ije Jidenma to Prioritize Inclusiveness, Digital Transformation - The 17th President of the Institute of Directors, Nigeria, Dr. Ije Jidenma, F.IoD, has assured stakeholders that her two-year tenure will prioritize inclusiveness and digital transformation. Source Ottoabasi Abasiekong for WebTV Read More 

 

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PROSHARE TECHNOLOGY   

Insights from Happenings on the Fintech Landscape - 041021 - With each passing day, the cryptocurrency industry appears to hold some potential beyond the surface as more and more organizations keep making efforts to get a substantial share of the market. Source FintechNGR Read More

Can Nigeria Achieve 50% Broadband Penetration in 2021? - According to the recent data on key industry fundamentals published by the Nigerian Communications Commission (NCC), the total number of broadband subscriptions grew by 3.0% m/m to 78.3m in August 2021 but declined by 5.3% y/y. Source CSL Research Read More

Billions of Dollars Lost as Facebook Shuts out 2.9 billion Subscribers - The global economy lost billions of dollars as Facebook, WhatsApp, and Instagram went down at about 4.42pm on Monday. According to NetBlocks, which tracks internet outages and their impact, the outage had already cost the global economy about $160m per hour. Source Punch Read More


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PROSHARE FINANCE

PenCom Tasks PFAs on Awareness for Micro Pension Plan - The National Pension Commission (PenCom) has called on pension fund administrators (PFAs) in the country to have a yearly budget for media campaign plans to increase participation in the micro pension plan (MPP). Source Guardian NG Read More


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PROSHARE MSME

BOI's Disbursement to SMEs, Large Enterprises Hits Over N1trn in 6 Years - The Bank of Industry (BoI) has revealed that its disbursement to Micro, Small and Medium Enterprises (SMEs) and large enterprises has reached over N1trillion in six years. Source THISDAYLIVE Read More


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