Nigeria in 1min: Economic, Business and Financial Headlines - 251219


Wednesday, December 25, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: Proshare


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A Decline In The December 2019 FAAC Distribution - The gross monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government amounted to N636bn (US$1.75bn) in December (from November revenue). Source FBNQuest Research Read More 

FAAC Disburses N702.02bn in November 2019 - NBS - The Federation Account Allocation Committee (FAAC) disbursed the sum of N702.02bn to the three tiers of government in November 2019 from the revenue generated in October 2019. Source NBS Read More 

Bullish Sentiment Keeps Oil Above $60 - OIR 241219 - Oil prices were relatively lifeless at the start of the week, holding onto recent gains, but not moving much in either direction.  Source Tom Kool of Oil Price Read More

Consumer Agency Stops N50 Charge on PoS Transactions - The Federal Competition and Consumer Protection Commission on Tuesday stopped the additional N50 charge currently imposed on transactions conducted through Point of Sales Terminal. Source Punch Read More 

FG Spent N12.7bn To Subsidise Fuel In Five Day - The Federal Government, through the Nigerian National Petroleum Corporation, NNPC, spent N12.69 billion to subsidise Premium Motor Spirit, PMS, in five days, between Monday, December 16 and Friday, December 20, 2019. Source Vanguard Read More

DPR Warns Fuel Stations Against Sharp Practices - The Department of Petroleum Resources has said it will sanction any fuel stations found engaging in sharp practices. The DPR also urged Nigerians to avoid stockpiling petroleum products at home during the festive season, saying there would be no fuel scarcity in the country. Source Punch Read More

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NSE Announces The Effective Date Of The Rule Governing Free Float Requirements - Further to the earlier announced notice of deferral of effective date of the Rules Governing Free Float Requirements for Issuers Listed on The Nigerian Stock Exchange, issued on i.e., Friday, 31 May 2019, the Rules Governing Free Float Requirements for Issuers Listed on The Nigerian Stock Exchange shall become effective on the date set forth below... Source NSE Read More 

Airtel Africa Plc Issues Pre-Listing Statement In Reference To Malawi Stock Exchange - Airtel Africa Plc, a leading provider of telecommunications and mobile money services, with presence in 14 countries across Africa, further to its announcement of 11 December 2019 of its intention to float its local business Airtel Malawi plc on the Malawi Stock Exchange, today announces the price for the Initial Public Offering (IPO). Source NSE Read More 

Nigerian Stock Market Dips Further By -0.10% As YTD Returns Stands At -16.99% - Equities market closed today on a negative note, as NSEASI depreciated by -0.10% to close at 26,090.88 points as against -1.55% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.98%.  Source Proshare Markets Read More 

SOVRENINS: Listing of Additional 4,170,411,648 Ordinary Shares Issued by way of a Rights Issue - An additional 4,170,411,648 ordinary shares of Sovereign Trust Insurance Plc (STI or the Company) were on 23 December 2019, listed on the Daily Official List of The Nigerian Stock Exchange. Source NSE Read More 

NSE Places Full Suspension on Trading on the Shares of Cement Company of Northern Nigeria Plc - The suspension becomes imperative to prevent trading in the shares of the Company beyond the Effective Date (the date the Certified True Copy (CTC) of the Court Sanction will be registered with the Corporate Affairs Commission) of the Scheme of merger between the Company and Obu Cement Company. Source NSE Read More 


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CBN Right of Set-Off - A Case of Regulatory Over-Reach? - At the 345th meeting of the banker's committee on the 26th of August, 2019, a decision was taken or rather an instruction was handed down by the Central Bank of Nigeria (CBN) through the Governor. Source Yinka Ogunnubi Read More 

DANGCEM Appoints Michel Puchercos As Group CEO; Joseph Makoju Retires - This is to announce the retirement of Engr Joseph Makoju from the Board of Directors, and as the Group Managing Director/ CEO of the Dangote Cement Plc ("the Company") effective from 31 January 2020. Source NSE Read More 

Nigeria, Ghana Top List Of Countries To Watch For Key Project Developments - The African Energy Chamber In its latest African Energy Outlook 2020 report has highlighted the importance of increased infrastructure capacity in Africa's long-term industrial development. Source Guardian Read More

Trump Says He And Xi Will Sign China Trade Deal - U.S. President Donald Trump said on Tuesday he and Chinese President Xi Jinping will have a signing ceremony to sign the first phase of the U.S.-China trade deal agreed to this month. Source Reuters Read More

Border To Reopen In Strict Compliance With ECOWAS Trade Agreements, Says FG - The Federal Government has said the decision to reopen the nations' land boarders will be in strict compliance with the Economic Community of West Africa States (ECOWAS) regional trade protocol agreements. Source Guardian Read More

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