Nigeria in 1min: Economic, Business and Financial Headlines - 210720

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Tuesday, July 21, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Channels TV

 

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COVID-19 Health Updates

  • July 20th 2020: Nigeria COVID-19 Status in 35 states and the Federal Capital Territory
  • Confirmed: 37225 cases (New: 562)
  • Discharged:  15333
  • Deaths: 801: (New 12)

Source: NCDC Read More

 

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PROSHARE ECONOMY 

CBN MPC Takeaways; Standing in Still Waters, As Regulator Decides To Wait and Watch - Cash Reserve Ratio (CRR) kept at 27.5%. The Central Bank of Nigeria (CBN) decided to leave the banking sector's cash reserve ratio (CRR) unchanged as it remained wary of increasing sector liquidity. Source Proshare Research Read More

CBN Communique No. 131 of the MPC Meeting - July 20, 2020 - The Monetary Policy Committee (MPC) met on 20th July 2020, amidst elevated uncertainties across the world. The projected global output contraction was revised downward, as many countries had to extend the lockdown period in the wake of a second wave of coronavirus infections, and continued lack of effective treatment or vaccines for the Novel Coronavirus disease. Source CBN Read More 

Inflationary Pressure Likely to Decelerate in July - PFI Capital Limited - The NBS June 2020 inflation rate report shows that headline inflation rate rose for the 10th consecutive month to 12.56%. This is 16bps higher than 12.40% recorded in May'20 and 134bps ahead of the 11.22% recorded in Jun'19. On M-o-M, the headline inflation rate increased by 4bps to 1.21% from 1.17% recorded in May'20. Source PFI Capital Read More 

A Pause to Assess the Cut in May? - The monetary policy committee (MPC) holds a virtual meeting today in Abuja. The consensus among analysts in May was that there would again be no change. Yet the committee produced a majority vote for a 100bps reduction in the policy rate to 12.50%. Source FBNQuest Research Read More

 

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PROSHARE REGULATORS 

SEC DG Says Automation of Processes Key to Efficiency - The Securities and Exchange Commission, SEC has expressed its desire to automate its processes in a bid to conform to current technological trends the world over as well as ensure a more efficient capital market. Source SEC Nigeria Read More

 

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PROSHARE MARKETS 

Investors Lose N9.43bn as NSEASI Dips by -0.07% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.07% to close at 24,269.58 basis points as against -0.17% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -9.58%. Source Proshare Markets Read More

10 Things To Note On Corporate Finance and Business Valuation - Prof Aswath Damodaran - The Second edition of the Coronation Capital Masterclass which discussed "Corporate Finance and Business Valuation" with Professor Aswath Damodaran of the New York University Sterns Business School, unlike the first edition was hosted virtually because of the impact of the novel coronavirus on the globe. Source Ottoabasi Abasiekong for WebTV Read More

UNILEVER declares N519m Loss in Q2 2020 Unaudited Results; (SP:N12.85K) - Unilever Nigeria Plc released its Q2 2020 Unaudited results for the period ended June 3oth, 2020. Revenue declined by -35.9% to N27bn from N43bn in the previous quarter. Loss before tax stood at N567m. Source NSE Read More

ACCESS Completes Acquisition of Transnational Bank (Kenya) Plc - Sequel to our earlier announcement on October 28, 2019, the Board of Access Bank PLC ('the Bank') is pleased to inform the investing public and the Nigerian Stock Exchange of the Bank's successful completion of the acquisition of Transnational Bank (Kenya) Plc. Source NSE Read More 

OANDO Announces Delay in Filing Audited 2019 and Q1 2020 Unaudited Financial Statements - Pursuant to the direction of the Nigerian Stock Exchange this is to update our valued shareholders and stakeholders of the delay in the release of Oando PLC's (referred to as "Oando" or the "Company") results for the twelve months ended December 31, 2019... Source NSE Read More

Afrinvest Stock Recommendation for the Week 200720 - Last week, the bearish sentiment in the local bourse persisted as the All-Share Index declined 8bps w/w following losses on 3 of 5 trading days. Consequently, market capitalisation fell to N12.7tn as investors lost N9.8bn while YTD loss worsened to -9.5%. Source Afrinvest Research Read More 

PMA Records Strong Demand as Average NT-Bills Yield Declines to 1.9%; Bond PMA Holds this Wednesday - Activity level in the Nigerian Treasury Bills ("NT-Bills") secondary market last week remained sluggish as weak sentiments persisted in 4 out the 5 trading sessions. Despite the improved system liquidity at the start of the week (N150.2bn), investors stayed on the sidelines in anticipation of the Primary Market Auction ("PMA") that held on Wednesday. Source Afrinvest Research Read More 

Invest in FGN Monthly Bond Auction - July 2020 - The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications... Source DMO Read More


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PROSHARE BUSINESS 

ICPSP 2020 Conference To Discuss Lessons From COVID-19 With Experts - The Institute of Corporate and Public Sector Professionals, ICPSP a non-profit membership and research organization dedicated to supporting professionals whose daily effort impacts people's lives is set to host its 2020 virtual conference. Source ICPSP Read More

Forex Uncertainty Worries Businesses as CBN Retains 12.5% Interest Rate - The Central Bank of Nigeria on Monday retained the country's benchmark interest rate or Monetary Policy Rate at 12.5 per cent. It also held all other monetary policy parameters constant, as the bank stated that its interventions in the economy were yielding positive results. Source Punch Read More

Healthcare Intervention Gulps N26.28bn, Says CBN - About 20 projects valued at N26.28bn have been funded under the N100bn Central Bank of Nigeria credit support intervention for the healthcare industry, the Governor of the apex bank, Godwin Emefiele, said on Monday. Source Punch Read More

Asian shares extend gains as investors count on stimulus, vaccines - Asian shares advanced on Tuesday as prospects of a deal by European Union leaders to jointly fund recovery of their economies and hopes for a coronavirus vaccine lifted risk appetite. Source Reuters Read More


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PROSHARE TECHNOLOGY 

Abuja Chamber of Commerce set to Hold Webinar on Ecommerce Opportunities on July 25, 2020 - Ecommerce just like every other form of business has taken a new turn following the Covid-19 pandemic. As a result of the lockdowns, many customers turned to online and mobile shopping while businesses without a digital presence were forced to take their businesses online as part of their business continuity strategies in order to ensure they survive. Source ACCI Read More


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