Nigeria in 1min: Economic, Business and Financial Headlines - 270721

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Tuesday, July 27, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Aso Rock Villa


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COVID-19 Health Updates

  • 26th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 171,324 cases (New: 213)
  • Discharged: 164,798
  • Deaths: : 2,134 (New: 2)

Source: NCDC Read More


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PROSHARE ECONOMY

Nigeria Economic Outlook H2-2021: Walking a Slippery Slope - 2021 was tagged the year of return to normalcy, and we highlighted that growth across countries would remain uneven due to differing wealth of nations. Large swathes of that forecast have proven to be right. Source by United Capital Research Read More

Nigeria: 2021 Half Year Outlook - The Big Bounce - The second half of 2021 is expected to bring some cheer to macro watchers globally, with the most robust growth projected for Emerging Markets and Advanced Economies. Source by CardinalStone Research Read More

Inflation Remains a Major Driver of Poverty in Nigeria - Muda Yusuf - Nigeria's high inflation rate of 17.75% and 21.83% (Food inflation), has been identified as a major driver of poverty in the country and needs to be addressed through coordination of fiscal and monetary policies. Source by Ottoabasi Abasiekong for WebTV Read More

The Rationale for No Change in the MPC's Stance - Elsewhere in the EM universe, there have been several cases of monetary tightening in response to inflationary pressures. The authorities in Brazil, Russia, Turkey, and most recently, Ukraine have hiked rates. Source by FBNQuest Research Read More

Court Restrains FG from Accessing N200bn Unclaimed Dividends - A Federal High Court sitting in Abeokuta has granted an interim order restraining the federal government from taking over the unclaimed dividends of shareholders in the capital market estimated to be over N200 billion. Source by Unini Chioma of The Nigeria Lawyer Read More

Buhari Signs N983bn 2021 Supplementary Appropriation Bill into law - The President, Major General Muhammadu Buhari (retd.), has on Monday signed the 2021 Supplementary Appropriation Bill into law. The Senior Special Assistant to the President of the National Assembly (House of Representatives), Umar El-yakub, revealed this while briefing State House Correspondents after the signing in Abuja. Source Punch Read More

Recover N76bn Loans from INEC, ONSA, Senate tells AG - The Senate has asked the Office of Accountant General of the Federation to recover the N76bn loans in possession of some federal agencies and pay them back to the Special Funds Accounts. Source Punch Read More


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Investors Gain N94.39bn as NSEASI Inches Up by 0.47% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.47% to close at 38,849.08 basis points as against +0.21% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.53%. Source by Fidelity Bank Read More

Norrenberger Reiterates Commitment to Simplifying Wealth Creation, Launches Money Market Fund - As part of its strategic efforts towards deepening financial inclusion in Nigeria by providing cutting edge investment solutions, Norrenberger, a leading financial services group in Nigeria, has launched its Money Market Fund. Source by Content Read More

IEFX Market Total Transactions Value Decreased by $325.65m WoW, Representing 49.86% Decline - FMDQ - Below is the commentary on the Foreign Exchange (FX) market with data for the week-ended July 23, 2021. The table following the commentary compares Spot FX weekly turnover for trades between banks (FMDQ Dealing Member (Banks) [DMBs]/Authorised Dealers) and their clients for the week ended July 16 & July 23, 2021. Source by FMDQ Read More

Bullish Turn Persists, as Average Yield Dips 2bps WoW - In the Nigerian Treasury Bills ("NT-Bills") secondary market last week, average yield marginally dipped 2bps W-o-W to close at 6.80% from 6.82% the previous week, sustaining the bullish run. Source by Afrinvest Research Read More

Stakeholders Call for Improved Capital Mobilization in Private Markets in Nigeria - A growing number of financial sector stakeholders are calling for an improvement of the flows of private capital into Nigeria. Coronation Merchant Bank as part of its advocacy supporting Nigeria's quest to become a leading destination for private capital investments... Source by Ottoabasi Abasiekong for WebTV Read More 

 

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FIRS, SystemSpecs Partner to Ease Tax Remittances - As part of efforts aimed at further simplifying tax remittances in Nigeria, SystemSpecs has collaborated with the Federal Inland Revenue Service (FIRS) to strengthen tax administration through its Remita Payment Gateway which powers payments on TaxPro-Max, a solution newly introduced for filing tax returns. Source THISDAYLIVE Read More

Oyo state Seeks to Take over Management of Ibadan Airport - Governor Seyi Makinde of Oyo State has expressed the desire of the state government to take over the management of Ibadan airport, and urged the federal government to give the facility a facelift. Source THISDAYLIVE Read More

Global Structured Finance to Hit $1.4 Trillion - Global structured finance new issuance volume increased 60 per cent to approximately $685 billion in the first half of 2021 and could rise to $1.4 trillion by the end of 2021. In its half-year outlook released yesterday, S & P Global Ratings raised its 2021 forecast for global structured finance issuance by about 15 per cent to slightly over $1.4 trillion, following a more active than expected first half. Source The Nation Read More

 

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PROSHARE TECHNOLOGY   

HP Sure Click: Does Your PC Security Work Effectively from Home? - According to Symantec, 1 in 13 web requests lead to malware by tricking users into downloading and opening malicious documents. Over 90% of non-browser-based attacks occur from opening files from email attachments, with Microsoft Word documents accounting for over 67% of all malware attacks. Source by HP Inc. Read More

 

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PROSHARE FINANCE

Aviation: A Long Ride to Recovery - A Punch report states that the highly transmissible delta variant of Covid-19 poses an additional layer of concern for many operators and stakeholders in the country's aviation sector. The Nigerian Centre for Disease Control (NCDC) detected the index case of the delta variant amongst inbound travellers into the country on 8 July 2021. Source by CSL Research Read More

BREAKING: Pension Fund Assets Hit N12.66trn - The nation's pension fund assets rose significantly to N12.66 trillion as at the end of June, 2021. As at the end of March, 2021, the assets had stood at N12.34trillion, hence, increasing by N320 billion between April and June, 2021. Source LeadershipNG Read More


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PROSHARE MSME

Is Fidelity Bank a Trusted Financial Partner for Nigerian SMEs? - Small and Medium-scale Enterprises (SME) in Nigeria have a high mortality rate with research pointing that one in every five small businesses will cease to exist in the first five years. Source by Fidelity Bank Read More

5 Things to Note when Considering the Right Loan for your Small Business as an Entrepreneur - Over the years, loans (either through financial institutions or friends and family) have been one of the main sources of finance for businesses. Though there are other effective ways to fund a business, loans are sometimes imperative and unavoidable... Source by FCMB Business Zone Read More


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