Nigeria in 1min: Economic, Business and Financial Headlines - 141020

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Wednesday, October 14, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @jidesanwoolu

 

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COVID-19 Health Updates

  • 13th of October 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 60,655 cases (New: 225)
  • Discharged:  52,006
  • Deaths: : 1,116 (New: 1)

Source: NCDC Read More


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PROSHARE ECONOMY 

#EndSARS: Almost a Nigerian Revolution - The increase in the pump price of fuel, in 2020, a fall-out of the deregulation of the downstream sector, did not compel the youths of Nigeria to troop out onto the streets. The additional hike in electricity tariffs was not enough to ignite their anger either. Source Reuben Abati Read More 

WEO: A Long and Difficult Ascent - Global Growth Projected at -4.4% in 2020 - The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. Source IMF Read More

Oil Holds Its Breath as Presidential Election Approaches - OIR 131020 - Oil prices sank on Monday on concerns of a return of supply from Libya, although the decline was also a correction after strong gains last week. In early trading on Tuesday, prices were back up on some positive oil import news from China. Source Josh Owens of Oilprice Read More

774,000 Jobs: FG Shifts Recruitment to November 1 - The Federal Government has rescheduled the commencement of the Public Works programme to November 1. According to the Minister of State for Labour and Employment, Festus Keyamo (SAN), the President, Major General Muhammadu Buhari (retd.), approved the rescheduling of the programme meant to engage 1000 persons from all the 774 local government areas for menial jobs for three months. Source Punch Read More


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PROSHARE REGULATORS 

SEC Nigeria Corporate Governance Guideline and Revised Form 01 - The Financial Reporting Council of Nigeria issued the Nigerian Code of Corporate Governance (NCCG) in 2018, which replaces all existing sectorial Codes of Corporate Governance in Nigeria. Source SEC Read More

 

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PROSHARE MARKETS

Banks in H1 2020: Kicking-in a Response, Busting a Virus - To understand the impact of the COVID-19 pandemic on banks it is important to analyze the various possible response scenarios that might pan out. These scenarios enable stakeholders in the banking industry to properly plan and think through various outcomes that might arise as a result of the coronavirus pandemic. Source Proshare Research Read More

NSE and NASD OTC 2020 Performance: The Race for Recovery in Uncertain Times - Investors' Confidence has been given an illicit shot in the arm and like a tube-station junkie has led to a roller coaster ride of emotions in the face of a global economic meltdown in 2020. Source Bukunmi Adejobi, Proshare Research Read More

ALERT: 45.87% of Total Market Volume Traded on REGALINS Shares Today - At the close of trading today, a total volume of 245.79mln units of shares of Regency Assurance Plc valued at N49.21mln were traded. This represents 45.87% of the total market volumes of 535.83mln while the value of REGALINS shares traded represents 0.98% of the total market value traded which was put at N5.02bn. Source Proshare Research Read More 

Investors Gain N3.42bn as NSEASI Inches Up Marginally by 0.02% Amid Improved Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.02% to close at 28,344.04 basis points as against -0.27% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +5.60%. Source Proshare Markets Read More

 

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PROSHARE BUSINESS 

Presidential Panel on Police Reforms Swings Into Action, Okays 5-Point Demand of Protesters - Following directives by President Muhammadu Buhari on dissolution of Special Anti-Robbery Squad and immediate response to yearnings of citizens, the Inspector General of Police, Mohammed Adamu, convened a meeting with stakeholders, agreeing to meet demands, which include halting use of force against protesters and unconditional release of arrested citizens. Source State House Read More 

Don't Revert to Service Reflective Tariff, NERC Orders Discos - The Nigerian Electricity Regulatory Commission on Monday said it had directed power distribution companies not to revert to the September 1 service reflective tariff. Source Punch Read More

Least Developed Countries' Debts Hit $744bn in 2019 - World Bank - The debt burden of least developed countries rose to $744bn in 2019, the World Bank said on Monday. It disclosed this in its report titled 'Debt burden of least developed countries continues to climb to a record $744bn in 2019'. Source Punch Read More

Customs generates N13.11 billion from Onne Port - The Nigeria Customs Service (NCS), Area II Command, Onne Port, Rivers State, said it generated over N13.11 billion for the month of September. Meanwhile, the Seaport Terminal Operators Association of Nigeria (STOAN), has bemoaned the slow pace of work on the Marine Beach Bridge, Apapa, and the TinCan Island Port access road. Source The Guardian Nigeria Read More

Raise Banks' Liquidity Ratio to Discourage Foreign Currency Holding, ABCON Charges CBN - The Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to consider raising the liquidity ratio of banks, to discourage foreign currency holding. Source The Guardian Nigeria Read More

Nigeria's Oil & Gas Earnings Climb to N24trn in 5yrs - This brings the country's total earnings from this mainstay of revenue in the past five years (2015-2019) to N24.1 trillion. According to the data sourced from the Central Bank of Nigeria, CBN, oil revenue in the first six months of 2020, accounted for 59.7 per cent of gross federally-collected revenue of N4.03 trillion recorded in the same period. Source Vanguard Read More

Wall Street Closes Lower on Vaccine Delay, Dampened Stimulus Hopes - Wall Street lost ground on Tuesday, with halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighing on sentiment as third quarter earnings season got underway. Source Reuters Read More

 

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PROSHARE FINANCE

Facts and Factors Behind Your Insurance Policies - It does matter why and how you procured your insurance policies to enjoy some unforgettable experiences that you readily share with friends and associates. Sometimes ago, it had come to my notice that, most persons in Nigeria bought their insurance policies with less facts than they ought to have had when they took that decision. Remember, facts are what they are and as they are presented by an authority duly empowered by law or by reputation. Source Read More

 

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