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Nigeria in 1min: Economic, Business and Financial Headlines - 171220

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Thursday, December 17, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @cibnigeria

COVID-19 Health Updates

16th of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
Confirmed: 75,062 cases (New: 930)
Discharged: 66,775
Deaths: : 1,200 (New: 0)

Source: NCDC Read More

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Senate Passes Finance Bill 2020 - The Nation is reporting that the Senate, on Tuesday, passed the Finance Bill 2020 transmitted to the National Assembly by President Muhammadu Buhari two weeks ago. Source Sanni Onogu of The Nation Newspaper Read More

CBN Frowns At Operators Paying Remittances in Local Currency - Following the recent policy pronouncements on amendments to procedures for receipt of diaspora remittances, the Central Bank of Nigeria (CBN) notes material compliance by majority of market participants as beneficiaries of remittances through IMTOs now receive foreign currency through their designated banks. Source CBN Read More

Average Prices of PMS, AGO, HHK and Cooking Gas - November 2020 - Average price paid by consumers for premium motor spirit (petrol) increased by 14.62% year-on-year and month-on-month by 3.79% to N167.27 in November 2020 from N161.17 in October 2020. Source NBS Read More

Reopening of Four Borders: LCCI, Experts Raise Smuggling Alert as FG Retains Rice Ban - The President, Major General Muhammadu Buhari (retd.), has approved the immediate reopening of four of Nigeria's land borders. The Minister of Finance, Budget and National Planning, Zainab Ahmed, who disclosed this to State House correspondents at the end of the weekly meeting of the Federal Executive Council, said rice and poultry products remained banned. Source Punch Read More

WEF Cautions against Rising Debt Burden - The World Economic Forum (WEF) in its latest report has advised low income, developing economies and Sub Saharan Africa (SSA) against increasing their external debt burden. Source THISDAYLIVE Read More

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Nigerian Inflation Up By 0.66% in the Month of November - It was quite an active day in FGN bond space, although the market trades' chunks were closed by the later part of the day. Market activity flowed from the belly to the curve's tail with transactions ranging between 7.10%-7.15% for the mid-dated bonds and 7.45-7.55 for the long. Source Proshare Markets Read More

Investors Gains N140.03bn as NSEASI Inches Up by 0.76%, Maintains Positive Market Sentiment - Equities market closed today on a positive note, as NSEASI appreciated by +0.76% to close at 35,493.15 basis points as against +1.10% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +32.23%. Source Proshare MARKETS Read More

ALERT: 1.41% of JAIZBANK's Outstanding Shares Traded on NSE Today - At the close of trading today, a total volume of 414.98mln units of shares of Jaiz Bank Plc valued at N216.96mln were traded. This represents 63.79% of the total market volumes of 650.55mln while the value of JAIZBANK shares traded represents 9.49% of the total market value traded which was put at N2.29bn. Source Proshare Research Read More

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Azimo, Transfer Wise Not Registered IMTOs - CBN - The attention of the Central Bank of Nigeria (CBN) has been drawn to the activities of Messrs. Azimo and Messrs. Transfer Wise, both of which are purportedly transacting business, albeit unauthorised, as International Money Transfer Operators (IMTOs). Source CBN Read More

Nigeria's Daily Oil Production Falls to 1.32 Million Barrels - Crude oil production in Nigeria extended its decline to 1.32 million barrels per day in November on the back of the cut deal by the Organisation of the Petroleum Exporting Countries and its allies. Source Punch Read More

FG, Seven Firms Sign MoU to Power Rural Communities - The Federal Government on Wednesday signed an Output Based Fund Grant Memorandum of Understanding with seven private companies for the deployment of solar home systems to power rural communities. Source Punch Read More

CBN Boosts Poultry Industry with Disbursement of N12.55bn Credit - The Central Bank of Nigeria (CBN) has so far released N12.55 billion to support the small, medium, and large-scale poultry farmers. The CBN explained that the gesture is part of its strategy to boost egg and meat production as well as to create more jobs for Nigerians. Source THISDAYLIVE Read More

Lawmakers Haggle Over Details as U.S. Congress Closes in on $900 Billion COVID-19 Aid Bill - U.S. congressional negotiators were haggling on Wednesday over details of a $900 billion COVID-19 aid bill that is expected to include $600-$700 stimulus checks and extended unemployment benefits, as a Friday deadline loomed, lawmakers and aides said. Source Reuters Read More

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Oando Foundation Initiates Project to Promote Environmental Education and Responsibility - Oando Foundation (OF), an independent charity, has initiated a project to promote environmental education and sustainable action for pupils in target schools and host communities in Lagos State with support from Sumitomo Chemical, a Japanese Chemical Company. Source Oando Read More

How to Save Money and Get to Work Quicker with an Accelerated Degree Program - Accelerated or Two-year degrees are degree courses that take two years to complete rather than the usual three or four years. In such a fast-tracked course, you would cover the same content and get the same qualification at the end as you would on a three or four year course. Source Awa Business School Read More

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